French real estate market prices have adjusted slightly downwards in recent times and well priced property has been sold but the cost of buying a French property maybe about to go up.
In France when you buy real estate you pay notary fees. At this moment the fees are approximately 7 percent of the purchase price of your property. This means if you buy a 500 000 euro property you pay 35 000 euros in addition as ‘Notary fees’. However, a portion of these notary fees are in fact government taxes and the amount of these taxes is potentially about to adjust upwards.
According to local notaries this increase may happen in September this year (2013), however, the amount of the increase has not been defined by those who decide on the amount of tax to be charged. So we will have to wait to find out exactly how much and if it will in fact happen.
If you want to be really up to date and you want more details on why this is happening please contact your English speaking French notary.
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