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French Real Estate News January 2014: There are more Sellers than Buyers

The French real estate market at this time has more sellers than buyers, according to a study by the site Meilleuragents cited in Le Figaro January 2014.

On their system Meilleuragents compares the number of buyers to the number of sellers active on their site. The site proposes that once their are less than two buyers for every seller on the market in general the expectation it the prices should go down.

Meilleuragents statistics at this time indicate that no where in France are their two buyers for each seller. In fact in the large towns there are less than one buyer for each property and even less buyers available in rural areas.

Read the original article in French

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What is a chambre de bonne in a French real estate property?

In a French real estate advertisement the term chambre de bonne is typically referring to a single room in an apartment or house separate from the main living area.

This room could be accessed by a separate entrance from the rest of the residence. It typically is a space where the maids of an owner would have their own private living space.

Sometimes a chambre de bonne is advertised as a studio or a studette in a French real estate ad.

We can also help you find an English speaking French real estate professional in your area of choice contact us here

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Photos of Villa Kenzo: 8 million Euros for Unique Parisian Japanese Style Villa

La Villa Kenzo built in 1989, is a prestigious Japanese style property located in the center of Paris and evaluated at more than 8 million euros. Villa Kenzo is now for sale according to a January 2014 article in Le Figaro.

The property is not only impressive because of its size of over 1000 m2 but also because of its original Japanese styling. The building was constructed in harmony with the principles of Feng Shui

The uniqueness of this large home located in the center of Paris may push the price up to 15 million euros according to one real estate agency.

According to the article in French here there are no current photos available of the inside of the property. But we found some of the photos of Villa Kenzo on line here.

If you are planning on investing in Paris and you would like to learn more about this property and other prestigious residences we can help you contact an English speaking French real estate agent to show you what is available. Contact us here to assist you.

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2014 French Notary Fees Going Up in Some Areas

Buying a French property will be a little bit more expensive beginning on March 1st 2014 in at least four French departments. This is not caused by an increase in property prices but because of an increase in the French government transfer tax.

This tax is paid as part of the notary fees paid by buyers in France.

The French tax paid to the Treasury will increase in certain areas from 3.8 to 4.5 percent of the sale price. This will apply to ‘actes passés et des conventions conclues’ between the first of March 2014 and the 29 February 2016 as authorized by the French budget for 2014. The purpose is to bring needed money to communities who are struggling financially. This is because overall the transfer tax obtained by the Treasury has gone down 50 million euros between 2012 and 2013 according to Eric Ciotti, President of the General Council.

For example, if the sale price of a French property is 100 000 euros the amount will increase from 3800 euros to 4500 euros.

Original article in French here

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2014 French Real Estate Prices May Go Down More

According to the President of FNAIM, the biggest real estate association in France 2014 may be a year where French real estate prices will continue to decline.

Mr Buet on behalf of FNAIM estimates a 3 to 4 percent decline in prices and a reduction again in the number of sales taking place year over year.

Number of French real estate sales for 2013 where down 5.1 compared to 2012.

Real estate: prices are expected to decline further in 2014 about 3 to 4 percent.

The cause of the declining market is linked to rising unemployment and negative consumer sentiment.

Worth noting when the French real estate market is like this it is a great opportunity to buy in France and negotiate a deal that you will not get when the market turns around.

It is also a great time to sell and buy upwards in the market since the difference between your lower priced home and the higher priced property will be reduced.

With the potential of saving a lot of money it is an excellent time for you to contact your English speaking real estate professional in your area of choice and get help to find a great investment while other people are waiting to see what happens.

Original source of 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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