Author: The ESREA France Team

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2016 French Real Estate Prices Going Up

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French Real Estate Prices Going Up Now

After approximately 4 years of lowering prices French real estate prices appear to have definitely taken a positive upward trend.

The lower French mortgage rates and the increase in the number of sales taken place so far this year have created an opportunity for price increases that buyers are accepting.

According to this article in French by Explorimmo the increase is particularly noticeable in Paris.

President of Century 21 Laurent Vimont states the downward pricing trend has been reversed. The same has been said by the director general of the Agency Guy Hoquet.

Guy Hoquet Estate agencies anticipate the number of French real estate transactions
will be over 820 000 this year compared to 805 000 in 2015 and 692 000 in 2014.

To find out what the market is like in your favorite part of France contact us to place you in contact with an English speaking French real estate agent. Contact us here.

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French Real Estate Mortgage Interest Rate Below 2 Percent

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French Real Estate Mortgage Interest Rate Below 2 Percent

According to the CSA that monitors French real estate mortgage interest rates the average mortgage interest rate in France has now fallen below 2 percent.

This happened last month March 2016.

February 2016 the average was 2.09 according to the CSA.

November 2015 the average was 2.20.

This percentage does not apply to everyone and does not include the cost of insurance on the mortgage. Seek advice from your English speaking French mortgage broker.

Find a English speaking French mortgage broker via this link or contact us directly for guidance.

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French real estate tip of the day: French Notaries

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French real estate tip of the day. When you buy your French property you will need a French notary to manage the transaction.

Our tip today is to remember you are not obliged to use the seller’s notary. You can arrange to have your own French notary work for you and the cost for you at this time does not change because the buyers and sellers notaries share the fee between them.

You can also request an English speaking French notary which maybe possible to find depending on the area of France you are buying in.

Locate a notary via the Notaries of France website. Search for a notary is currently down the bottom of the home page on the French notary site.

Get yourself a copy of our French property buyers guide today. French property buyers guide details here.

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French Real Estate Professionals New Law about Education

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All French real estate professional are now required to have continuing education.

A new law Decree No. 2016-173 of February 18, 2016 relating to continuing education for real estate professionals in France is good news for all French property owners.

Training can only improve the quality of service offered to buyers and seller.

This law is pertaining to all people working in the French real estate business including agent commercial auto  entrepreneur, employees and managers. The duration of the training noted in the decree here is 14 hours of training per year per person.

Check with your local real estate agent to learn more.

Proof of the required training is required to obtain renewal of professional cards.

Course included in certification include legal, economic, trade, ethics and the technical areas related to construction, housing, urban planning, energy transition.

Read the full details in French on the government of France website here.

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French Real Estate Agents New Law for Control of Activities

english speaking French real estate agents

French Real Estate Agents New Law for Control of Activities

French real estate agents often have a poor reputation with clients and a new law that is planned to come into effect by the end of 2016 hopes to put an end to this.

The new law provides for the establishment of a control board that can penalize French real estate agents who make a mistake in their real estate service.

The new law once in place will specify the modalities, terms of appointment of members and organization of the commission and perhaps other details we are not yet aware of.

The long term goal, like in other countries that have similar commissions, is to remove inappropriate conduct from the French real estate industry and only leave behind the true professionals.

Worth noting: We sense you must make sure you are working with a registered French real estate professional to have the possibility to make a complaint about conduct. If you are working with someone who is an unregistered person helping you with your real estate project we sense you may have no comeback.

Do your research and choose wisely.

If you are looking to find an English speaking French real estate professional contact us here. 

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