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New build properties in
France on the other hand are priced more or less
“ready to move into” which is a
substantial benefit to the purchaser who knows from
the outset the overall cost of the purchase. New
property in France is the first choice of the French
buyers themselves and off plan properties in
France are snapped up quickly.
This is not surprising given the many financial and
lifestyle benefits you enjoy when buying new build
property in France:
- 5% refundable deposit
When purchasing an off plan France property, French
law clearly states that the deposit required for the
reservation of the property cannot exceed 5% of the
purchase price. This is an attractive benefit which
reduces the purchaser’s initial outlay. In the
case of other property transactions the deposit
required is 10%.
- Secure and simple buying procedure
Buying off plan properties in
France is a straightforward and safe process. All
new build properties are subject to French government
regulated contracts designed to protect the interests
of the purchaser.
- Low legal costs (2.3% – 3%)
Legal fees on new build properties in
France are low and amount on average to only
2.65% of the purchase price. This compares very
competitively against 6% to 8% for an old property.
The legal fees or Frais de Notaire include the French
Notary’s fees and the Deed documents
registration fees.
- Stage payments
Other financial advantages in buying a new property
in France include stage payments which are made as
construction progresses.
- Excellent letting and resale potential
Off plan properties in
France are built on residential developments
which are often gated and set in landscaped
maintained grounds. This provides a secure, organised
environment which is attractive to holiday letting
agencies. In addition French off plan developments
are often located close to all amenities, which is an
important requirement from a holiday point of view.
When time comes to resell these key features ensure
good resale potential and sustained capital growth.
- French inheritance law and ownership
French inheritance law differs from the English
system. Please take advice on these matters as early
as possible in the buying process. This will enable
you to choose the best way to own your French
property (joint ownership, sole name, company, etc)
prior to completion (signing of the Deed of sale). We
are able to recommend solicitors who specialise in
French conveyancing.
- French lifestyle at the turn of a key
As new build properties require little or no
maintenance you are able to enjoy your place in
France and French lifestyle from the moment you
arrive. At the end of your stay you can lock up and
leave your new home with full peace of mind and
looking forward to your next visit.
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