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Four Reasons to Buy French Real Estate Today

Do you think it is a good time to buy French real estate?

Here are Four Reasons to Buyer French Real Estate Today

One
French Property Mortgages are still cheap
If the economy starts to change you may never see such low interest rates for many years to come. In fact, an increase in the current mortgage rates can reduce your available mortgage credit by a large amount.
If you want an overall view of the rates available we can put you in contact with an English speaking French mortgage broker. Contact us here

Two
The French Property will be yours
If you are renting right now you are paying your landlords mortgage and setting them up for a comfortable retirement.

If you have a down payment and you can qualify for a French mortgage with the current mortgage interest rates you will not only be investing in your future you will also have the option to renovate as you wish, you will not have to worry about rent increases and even have the dog you always dreamed of that your current landlord will not allow.

Three
Buying can be easier than Renting
In France right now it is not always so easy to find a property to rent. There are lots of people looking to rent since they do not have the job stability or down payment to buy (plus other reasons) however, there are quite a few properties for sale.

So it is a time to negotiate as a buyer but as a renter you have little opportunity to negotiate.

Four
The Market will change
At some point potential French property buyers who are waiting and waiting will decide to inject their cash into buying property instead of the low returns for money in banks.

When this takes place the best opportunities will disappear quickly and you will be left to compete with the large amount of people who are late adaptors to the market place. This means you will have less choice, less change to negotiate and may end up paying a premium for a property when you could have paid less before.

Article written January 2015

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French Rules about Renting Small Spaces

If you have a small space inside a French property that you want to rent you need to be aware of the laws related to renting.

What is the minimum size you can rent?

According to the French rules in French linked to here and here the surface must be greater than 9 m2 and the height of the ceiling must be greater than 2.2 meters. Therefore overall the habitable space must be more than 20 m3.

IMPORTANT: This 9 m2 refers to the surface of the principle area. If you have an apartment that is 11 m2 meters and you take 3 m2 to make a bathroom of 3 m2 the apartment is too small to rent. Since the principle area will now be 8 m2.

Are there any exceptions?
Some towns allow exceptions to these rules. For example, in Paris you can rent a smaller space but before doing so check with the city hall to get the exact details so you have no undesirable consequences.

Here again are the links to the details on the French government site here and here. Details are in French.

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Eco Friendly French Housing: Two Ways French Property Owners can Reduce the Cost

If you want to make your French home energy efficient there are at this time (Jan 2014) two ways you can reduce the cost of your expenditure:

One
Tax Credit
French residents can have a tax credit when they make their property more durable
Go here for details in French

Two
Interest Free Loans
French residents can obtain an interest free loan to do a renovation that makes their property more energy efficient
Go here for details in French

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How to Choose and Make Eco Friendly Housing in France

New French real estate is being constructed with the environment in mind but if you want to find a French property that is not an energy monster or to create your own what do you need to look for and do?

Here are three tips:

One
Exposition
Choose a French property that has a South facing exposition rather than North or East this will mean that that property will consume less energy for the purposes of heating and luminosity.

Two
Environmental Lighting
Lights in a property can consume up to 15 percent of the energy consummation so in addition to finding the right exposition to the Sun you can also invest in lighting that is less of an energy monster.

Three
Install a Global Energy Monitor
This type of monitor will show how energy is being consumed in a property in different categories such as heating, lighting and ventilation.

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French Real Estate Six New Changes for 2015

If you are a French property owner or would like to be you will need to know the following details:

One

New Tax on Secondary Residences
In 2015, local municipalities (communes) will get to decide if they will increase the ‘taxe d’habitation’ by 20 percent on furnished properties that are not principal residences.

It is recommended that before you decide to buy or rent a secondary residence in a particular area you check the local rules of renting and how they can impact your purchase.

Two

Tax Relief for Sale of Land
Owners of French land you can build on have a tax benefit if the sale is completed before the 31 of December 2015. The seller can benefit from a 30 percent reduction in income tax and social levies on the capital gains realized from the sale. In contrast, if you keep the land instead of building you may have an increase in property tax.

Consult you local French tax expert and / or notary for more details.

Three

Tax Relief on New Builds that are Rented
Depending on how long you rent out a newly acquired piece of French new construction you can have up to a 21 percent tax reduction on the value of the property.

Check with you local French tax adviser and agent for more details. If you read French here are details.

Four

Interest Free Loans for New and Old
A local loan at zero interest rate called ‘LE PRÊT À TAUX ZÉRO’ is typically associated with the purchase of a new property. Now in 2015 you can seek this form of loan if you are buying pre-owned property that needs a large renovation. The value of the renovation has to exceed 20 percent of the value of the purchase price of the property.

Check with you English speaking French real estate agent for more details or if you read French visit the French government site here.

Five

New Tax Credit on Energy Conservation Renovations
You can receive up to a 30 percent tax reduction based on the expenses you incur to renovate your home to make it more energetic.

To learn more contact you local English speaking French real estate agent and tax adviser or if you read French visit the government of France website here. 

Six

Rent Control in Paris
Depending on the location of your French real estate in Paris, the loi ALUR states that on the signing of a new lease the rent of a property cannot exceed by 20 percent the median rent set by the local prefecture. L’Observatoire des Loyers de l’agglomération parisienne (OLAP) is in charge of setting these rental guidelines. Their research is now completed and the rule is now set to take effect.

Confirm with you local English speaking Parisian real estate agent how this can impact your French real estate investment.

If you read French visit the source Explorimmo article here

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.

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