French Government Action to Ignite French Real Estate Market

The French government had an initial goal to build 500,000 new lodgements but as of 2013 there has only been 320,000 created, according to a new article in Explorimmo.

Construction jobs are disappearing, requests for building permits are going down and the new construction market is standing still.

To help ignite the market the French government announced on June 25th 2014 four actions:

One
Special French Purchase Loans
To increase access to new home construction purchases ‘Le Prêt à taux zéro’ (An incentive plan offering loans to qualifying individuals at zero interest rate) is to continue for an additional 3 years. The amount permitted for a new home buyer will also be increased depending on the location of the property and the buyer.

Two
Simplification of French Construction Process
The government of France is putting in place 50 new regulations to simplify the process of New French property construction. At this time we do not have these details in English but if you do read French you click on this link you will get a copy of the French government’s document in French. Then you can contact your bilingual French real estate agent to assist you.

Three
Increase Usage of Available Land
The French government will speed up access to public land that is available for construction.

Four
New Development of Social and Intermediate Housing
The French government hopes to create new social and intermediate housing with the assistance of private investors. To stimulate investment the government under certain guidelines offer a tax deduction starting at 18 percent for investors. It is important you speak to your personal English speaking French real estate agent to see how you can quality and benefit from this opportunity.

Read the original article in French here