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French New Property Sales Going Up or Going Down?

New French real estate construction is a hot topic for developers. This year 2014 real estate developers anticipate again that sales will go down another ten to twelve percent, according to Francois Payelle, president of the FPI (French federation of real estate developers).

That is a total of 65 000 to 75 000 sales this year, the lowest level since 1995.

What is interesting is that the number of new french property sales is going down even with a growing French population. It appears there is a reduced interest in new property purchases and the developers are suffering to get sales.

The solution will be to reduce prices.

You can take advantage of this challenge for new French real estate developers by investing in a purchase of a new French real estate right now.

The advantage is that you can negotiate on your deal, you get a property that is all up to date and with little likelihood you will have to pay for building work for quite a while.

In addition, in general new construction offers you low monthly charges, parking included and is attractive to renters.

Get in contact with an English speaking French real estate agent today to learn the best opportunities to buy our new French real estate investment. We can help you find an agent in your area of choice. Contact us here.

Read the original article in French

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Five Reasons to Buy Real Estate in France (they will surprise you)

Here are five reasons your heart and spirit may sing when you invest in French real estate.

One
More Active Life Style
If you buy French real estate in a village or close by the sea or a town you may find out quickly than many facilities are at your door step and you can walk to most services you need. In fact, you may end up buying one of these so you can shop like the French do.

Two
Different Vacations
Whether you live full time in France or your French property offers you a new base in Europe you will find out you are now offered many choices for vacation. The many regions of France offer different scenery from mountains to sea and from castles to cities all with there own experiences. You are also next door to Spain, Italy, Germany….

Three
Cultural Experience
France is, for many people, a very different culture. Historically French people focus more on activities outside of work rather than work itself. Time with family and friends is valued as is the long vacations period offered to salaried employees. Be ready to experience a slower pace of life. This slower pace expands into the response of service providers who will take longer than perhaps you are used to bring you assistance.

Four
Different Foods
Depending on where you live right now France may be offering you a whole new level of food choices. Beyond the well known variety of cheeses and this other French favorite : )  the climate can offer you the opportunity to grow fruits and vegetables in your own garden. Fruits and veggies that you may have had to buy from an imported food store in the past. If you like to shop in local markets for fresh foods make sure you note this desire as an important feature of the place you look to buy in.

Five
Learn a new Language
Although people in France do speak the occasional second language, could be Italian or English assume nobody speaks your native language and embrace the opportunity to learn the French language. You can enhance your ability to Learn French with a Free App  but the best way is to start making conversation with native French speakers and ask for guidance. Also watch French TV and listen to other people speaking French to become more familiar with the language.

If you are ready to learn more about the French real estate market with the goal of buying a property we can help you connect with a English speaking French real estate Agent click here to learn more

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What is does Loi ALUR mean?

The new French law that relates to renting of French real estate is called La Loi ALUR.

There are a number of very important changes that come with this law including:

One
Rent Limitation
We understand there is now a limitation on the rent that can be charged in certain areas. The only way a higher rent can be charged is if there are ‘exceptional’ characteristics of the property but even if there are ‘exceptional’ characteristics the renter can contest in court the high cost of the rent.

Two
Standardized Form Inclusions
There will now need to be certain items noted clearly on the rental agreement including the equipment included, the work recently completed and the rent charged to the last renter.

Three
Professional Standards
There is to be a new level of education for French real estate agents including standards of ethics and transparency.

Four
Protection of Expulsions of Tenants
The time period during which tenants cannot be evicted has been extended to now run from the first of November to the 31st of March.

Five
Greater Regulation of Syndics (management companies)
To eliminate for example the occurrence of syndics over charging or charging twice for services and having contracts with abusive clauses.

This law was just passed on February 20th 2014 so more details will be coming step by step.

Learn more details by searching on the French government website La Loi Alur

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French Taxe d’Habitation to be changed

By the request of the First Minister Jean-Marc Ayrault, local finance committees in France have been asked to start to re evaluate the French tax called the Tax d’Habitation (read the brief explanation here).

According to the article in Le Monde, this French tax on residents of a French property has apparently not been reassessed since 1970 and is seen as an opportunity for needed reform.

It is a tax that brought in 16.5 billion Euros in 2009.

The belief is that how it is calculated needs to be changed so that they is a greater relationship of the tax to the level of revenue of the resident.

The changes if they occur are supposed to take effect by 2018.

Read the original article in French here.

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2014 French Luxury Real Estate Slight Recovery Really?

According to an article in Le Monde, Sotherby’s the international real estate agency with over 50 offices in France announced they saw a ‘slight recovery since the end of December 2013. 2013 in French real estate was seen as ‘very difficult’ time by Sotherbys.

There are luxury properties on the market a year and a half or more in area where there is a lot of supply French luxury properties. (Remember in a prior article we shared how there is more than one property available for each buyer on the market statistically speaking, at this time)

Alexander Kraft, CEO of Sotherby’s International Realty France said that sellers who have had property excessively overpriced are now accepting price reductions of 10 to 20 percent to bring their property into alignment with the real market value.

This is not surprising since for the experienced real estate professional in France since traditionally there is always a lot of property on the market that is very overpriced.

NOTE: Even now in a slow French real estate market well priced properties do sell. The challenge has always been to locate the best deals before they sell.

Read full article in French here

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