Paris and Ile-de-France record real estate sales

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Notaries of France in Paris / Ile-de-France are reporting record real estate sales for the last three months of 2015.

According to a report in Explorimmo between September and November 2015, 42,000 existing homes were sold in Ile-de-France.

This is an impressive 42 percent more than in the same period of 2014.

The reason perhaps is the increase of the ‘droits de mutation’ (French real estate transfer tax) that is now coming into effect in Paris. This is a tax that is part of the fee paid by a French real estate buyer to the notary during a purchase.

Paris was one of the few remaining areas in France that had not increased the ‘droits de mutation’.

At the time of writing there are only 6 departments in France keeping the lower real estate transfer tax rate.

As of writing they are:

l’Indre (36), l’Isère (38), la Mayenne (53), le Morbihan (56), la Martinique (972) et Mayotte (976)

You need to check with a notary to confirm this has not changed when you have read this article.