Author: The ESREA France Team

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Video: Richard Roger’s solution to the High Cost of Housing. Could this happen in France?

French real estate in popular areas like Paris, Nice and Cannes to name a few is seen as expensive by many but real estate in London England can be even more expensive than the hottest place in France.

In London England, The YMCA has partnered together with Richard Rogers to bring forth the concept of Flat pack housing to help house homeless people. Is this the solution to the abundant need for housing in cities in populated parts of Europe?

When people want to live close to the cities or in the cities and prices are very high, maybe we will get more of what is in the video below. Do you think this will happen in France?

Only the future will show us.

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French Real Estate Investors: How to Reduce your Taxes

If you have invested in French real estate for rental income, according to this article in Le Monde certain expenses can be used to help reduce the tax burden you experience.

Please note you need to speak to a French tax advisor to be sure all this information is current and still possible.

What French real estate expenses can be deducted:

According to Christine Valence-Sourdille, ingénieure patrimoniale chez BN you may be able to deduct :

One
Expenses related to the management of the French property (condominium fees, property taxes, insurance)

Two
Expenses related to certain finance operations (fees, mortgage registration, insurance premium…)

Three
Expenses related to the maintenance, repair and improvement, that is work used to keep the dwelling in good condition such repairing a roof, replacing the heating..

Before you use these guidelines make sure you contact an English speaking French tax advisor.

Read original article in French here

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French real estate news: French real estate debt increases

According to a new report cited in the French newspaper Le Monde French real estate indebtedness has increased more in the third quarter of 2013.

From data from the Bank of France

Second quarter of 2013 indebtedness was 10.7 percent

Third quarter of 2013 indebtedness was 10.9 percent

Fourth quarter of 2013 indebtedness rose to 11.4 percent.

Read the original real estate article in French here

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MIPIM French Real Estate on the French Riviera : It is official prices are down

On the French Riviera for the last ten years it is estimated that the price per square meter of property has gone up 80 percent!

Since 2008 there has been no increase and now in 2013 according to French notaries report at MIPIM prices of property sold on the French Riviera are down.

In 2012 the number of transactions in the Alpes- Maritimes went down 15 %. This is significant in the second more expensive area in France, Paris being the most expensive.

Jean- Charles March , President of the Chamber of Alpes- Maritimes Notaries said the ‘Notaries give the real prices, we see the room for negotiation that has occurred in the drafting of sale documents in our offices. We see the sale prices.”

The 2013 Real Estate Statistics for the French Riviera

According to the notaries, the average price for the department PACA has gone down
3.4 percent for detached houses
3.8 percent for apartments
5.3 percent for new properties

When you look closely at the sale prices in the west of the PACA department you see an even more notable decline of between 7 to 8 percent.

French Real Estate and Foreign Buyers
According to the Notaries, in the Alpes ten years ago about 18 percent of buyers were foreigners
Last year this dropped to 10.6 percent.

What will happen in 2014?
The notaries say that in the first part of 2014 they have not seen many sales. Perhaps this could be related to the 2014 French government increase in notary fees.

Source article in French here

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What Percentage of French people plan on buying this year? How does this affect you?

If you are planning on buying French real estate it is important to know the market trends. If the local French people are buying you will be competing for purchases and have to pay perhaps premium prices for French property.

The Good News for you

According to a Ifop report, less than five percent of French people plan on investing in real estate within the next 6 months.

Only 7 percent see themselves investing in French real estate within the next year.

15 percent see themselves investing in French real estate within the next two years.

In contrast, 73 percent do not see themselves buying French real estate within the next 2 years.

For 72 percent of the French, this lack of desire to invest is due to their vision of the current economic situation in France, 17 percent would like to buy but they cannot afford a loan to buy real estate 11 percent claim there is a lack of government incentive to buy.

Read the original article in French here

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

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