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Which French Departments are not affected by the Notary fee increase in 2014?

French property buyers have an increased cost in the form of the increase in notary fees that is taking place in many of the French departments in 2014.

This increase in French property transfer tax by the French government makes the cost of making a French property go up in price.

On the average the French notary fees have been 7 percent of the purchase price and now after the increase the notary fees will be around 8 percent of the purchase price.

Only five French departments will not be affected by this increase according to an article in Explorimmo.

These departments are: Paris, Isère, Morbihan, Mayenne and Yvelines. However, these departments could have a change after January 2015. So keep reading the news or perhaps consider making a purchase sooner.

To read the original article in French go here.

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Change in French Rental Agency Fees Possible 50 percent reduction

French Rental agencies will soon have their commission charged to client based on the size of the rented dwelling instead of the frequent practice of charging approximately one month’s rent as a fee to the renter.

The French Rental Agency fee will cost less if all goes as planned by the French Government this September 2014.

According to an article in Le Figaro the charge will be between 8 to 12 Euros per m2.

In Paris, for example, the fees are said to become 12 euros per m2.

In big towns like Marseille the fees are said to become 10 euros per m2.

And in some areas 8 euros per m2.

Read original article in French here

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Green Light for New French Law for Access to Housing Loi ALUR

French housing policy changes as put forth by the French housing minister Cécile Duflot in the ‘Loi Alur’ has been given approval by the French constitutional council as of yesterday March 20 2014.

This new law will make a number of changes to the housing landscape in France with the goal of increasing the access to housing for French residents.

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What are the French rental agency fees for?

French Real Estate Rental agencies charge you a fee when they help you rent a property. We got a question from Caroline one of our readers who asked ‘what are the French rental agency fees for? What does the agent get paid for?”

Caroline, good question because when you rent directly from an owner you don’t have to pay an agency fee.

So here is the answer:

As a general overview French rental agencies are charging you for:

One
The Inventory of the Condition of the property and Included Items called ‘L’etat des lieux’ in French

Two
The drafting of the lease document called la rédaction du bail in French

Three
Preparation of your file called montage du dossier in French

Four
Visiting the Properties with you

It is important to note that at the present time most French real estate agencies have been charging around one months rent as the fee for service but now the government of France is changing this fee system by requiring the agencies to charge a fee that relates to the size of the rental space in some but not all cases, check with the agent you speaks with before engaging services so you know how much you will have to pay.

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2014 French Notary Fees Going Up Now Going Down?

An article in the Le Parisien, states the French government is preparing a reform of the notary fees charged on the purchase of a French property.

Currently, French notary fees are proportional to the amount of the real estate sale. The new proposal is to replace the proportional pricing with a fixed grid for pricing that would be re evaluated each year to reflect changes in the cost of living.

Current Costs
The Le Parisien article states that currently a notary’s office receives 2663 Euros on the sale of a 176000 Euro property. This 2663 Euro amount is part of the total fee of 12320 Euros collected from the Buyer of the French property.

The total sum of 12320 is mostly transfer taxes paid to the state (these transfer taxes were just increased this year). The official discussion of this change is to start in April 2014 according to the article.

Note: From the example above the notary’s office only received 21 percent of the total amount paid by the buyer.

Read the original article in French here

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