Warning about French real estate apartments

 

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When you are considering buying French real estate that is part of a  coproperty, for example, an apartment, it is very important that you have a professional help you review the financial condition of the co property. The management of the development may have a lot of outstanding debt and one of the things that could be contributing to increased costs is the recent increase in the cost of fuel used in building that have a centralized heating system.

This article here in LeFigaro that you can translate in your browser says at the time of wriging that Condominiums with more than 10 lots have a total debt of 2 billion euros, with an average default rate of 20%, that averages out at 8000 euros per condominium.

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French real estate taxes becoming bigger

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If you are buying  real estate in France, it is important to be aware of small taxes that are increasing.  For example, local taxes relating to the cost of garbage removal is planned to be increased (see this article in LeFigaro) to help cover the fact of the reduction and elimination of the residence tax in France. There are other tax increases as well.

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Solar energy in France: A lack of Government Aid?

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Solar energy in France: A lack of Government Aid?

France is a country with a lot of sunshine and a small population of French residents are investing in solar power to offset the rising coast of energy.

Once installed people can self consume the energy or they can consume the energy and sell some power back to the grid.

Often I hear people say there is a lack of government assistance and others say we need an example of the government inspiring the use of solar by having public buildings and social housing install solar panels.

To get an idea of how  people are engaging the movement to solar power in France check out this article in LeFigaro that offer a good explication of costs and what people are currently chosing to do. (Article in French, use your browser to translate).

Before you request the free ebook below read what people are saying about ESREA France – some examples:

Cynthia Sadler wrote ” I am so grateful to you for your help, and I have already spoken to friends who are planning to retire in France after their children graduate from college in 5 or 6 years, letting them know about the wonderful support that ESREA France will be able to provide when they start looking for a house to buy. You can be sure that I’ll be referring other friends who are thinking about relocation possibilities to you as I learn of that interest!I”  

Tanya Coletz wrote “I can’t recommend David enough, such a refreshing experience after months of trying to find suitable professionals myself he managed to find English speaking, qualified and responsive recommendations immediately. He also responded to my emails on a French holiday and followed through on every promise at a very reasonable price. I’m very grateful for his help and highly recommend his professional service”

Below you can get your free introduction ebook about French real estate mistakes to avoid

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

NEWS UPDATE: What is the maximum term of a French mortgage?

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If you are planning on getting a French property mortgage you will want to know the rule that came into effect this year 2022 on January 17th and I quote from the French government website

“As of January 1, 2022, banks are required to limit the term of home loans they grant to individuals to 25 years, and to ensure that the maximum debt ratio does not exceed 35% of borrowers’ income, including insurance.” Source Govt. France. 

Here is a link to the note in French and there is a tap for tranlsation to English

Before you request the free ebook below read what people are saying about ESREA France – some examples:

Cynthia Sadler wrote ” I am so grateful to you for your help, and I have already spoken to friends who are planning to retire in France after their children graduate from college in 5 or 6 years, letting them know about the wonderful support that ESREA France will be able to provide when they start looking for a house to buy. You can be sure that I’ll be referring other friends who are thinking about relocation possibilities to you as I learn of that interest!I”  

Tanya Coletz wrote “I can’t recommend David enough, such a refreshing experience after months of trying to find suitable professionals myself he managed to find English speaking, qualified and responsive recommendations immediately. He also responded to my emails on a French holiday and followed through on every promise at a very reasonable price. I’m very grateful for his help and highly recommend his professional service”

Below you can get your free introduction ebook about French real estate mistakes to avoid

Get your FREE copy today

Request below via the sign up form. Just scroll down, add your email and click Subscribe

This request also entitles you to our biweekly ezine and you can unsubscribe anytime.

Free eGuide 10 Mistakes to Avoid when Buying French property

* indicates required



Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.