French real estate has become cheaper for buyers since the French mortgage rates just went down.
According to the latest Empruntis survey, average fixed interest rates have declined compared to the previous survey with the exception of the 25 year mortgage that stayed the same.
Average fixed rate over 10 years : 2, 90%
(2.95 % in the previous survey)
Average fixed rate over 15 years : 3 05 %
( 3.10% in the previous survey)
Average fixed rate over 20 years: 3 30%
( 3.45% in the previous survey)
Average fixed rate over 25 years : 3 80%
(stable, same in the previous survey)
This reduction in French mortgage interest rates helps offset the cost of the increase in French property transfer tax.
With no clear indication that property prices are going to really drop, the reduced interest rates reduce the long term cost of buying property in France.
Perhaps now is the right time for you to buy?
Would you like to speak with an English speaking French mortgage broker to find you the best rate? Contact us, we can put you in contact with an expert.
Source article in French here
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