Our French lawyers can help foreign clients who want to purchase a property in France for personal or business purposes.
| Quick Facts | |
|---|---|
| Can expats buy properties in France? |
Yes, but restrictions are imposed on state-owned properties in France. |
|
Legislation for property purchase in France |
Property Law in France |
|
Types of properties you can buy as a foreigner |
– residencial buildings, – hotels, – office spaces, – land etc. |
| Property inspection before purchase (YES/NO) | Yes |
| Pre-sale agreement required |
Yes, the pre-sale agreement comes with a payment of 5% or 10% of the property price |
| Documentation verification made by our law firm in France |
Real estate due diligence is provided before you buy a property in France. |
| Content of a sale-purchase contract of a property |
– names of the seller and buyer, – type and description of property, – former owners, – price, – terms of possession |
| Real estate tax in France |
– between 7% and 10% for the acquisition of an old property – between 2% and 3% for new properties bought |
| VAT for property purchase in France |
20% |
| Can a lawyer in France represent you with a power of attorney? | The power of attorney allows us to represent clients who want to purchase a property in France. We can sign the sale-purchase agreement on their behalf. |
| Possibility to buy without visiting France |
Yes, with representation and legal support offered by our advisors. |
| Residence permit issued for buying property in France |
No, property owners still have to consider the immigration rules and regulations regarding residence permits in France. |
| Citizenship application permitted |
No, French citizenship cannot be gained through a property purchase. |
| Buying a property in France through mortgage |
There are different mortgage solutions for foreigners with incomes generated in France. |
| Legal services offered for buying a property in France |
– complete verification of the respective property documents, – representation of clients with power of attorney, – representation before the notary for concluding the sale-purchase contract |
| Finding properties for sale in France |
– real estate websites, – social media groups, – real estate agencies, – newspapers, – property auctions, etc. |
|
Deposit requirement |
Typically around 5% to 10% of the property's purchase price |
|
Local bank account |
– recommended for smoother transactions and other payments; – mandatory for mortgage options |
| Mandatory insurance (YES/NO) | YES, it's called the ”assurance habitation”. |
| Assistance schemes and loans |
– Prime Accession (10,000 euros purchasing grant), – traditional banking loans, – Prêt d'Accession Sociale (PAS), – Prêt à Taux Zéro (for building your house), etc. |
| Buying a new build property in France |
Our French lawyers can help you obtain the VEFA contract, which means you become the owner of both the land and the property once it's constructed. |
| Constructing a house |
With our law firm in France, you can obtain the construction permit, through the local town hall (municipality). |
| Property types in France |
– commercial, – residential, – industrial, – agricultural, etc. |
| Tenant eviction notice periods |
– 6 months (for unfurnished properties), – 3 months (for furnished properties). |
| Landlord obligations |
Make necessary repairs and provide essential services; Respect the tenant's privacy; Maintain the property in safe condition; Adhere to anti-discrimination laws. |
| Taxes for additional houses in France |
– taxe foncière (up to 3% of the rental value), – taxe d'habitation (based on your location and condition of property) |
| Other fees for property purchase |
– real estate agent fees, – stamp duty, – notary fees, etc. |
| French Cadastre – characteristics |
A system that provides graphical representations of land parcels and their boundaries |
| Why buy a property in France |
– rental opportunities, – high quality of life in France, – diverse property choices, – retirement destination, – impressive landscapes, etc. |
| Assistance | Our lawyers in France help foreigners buy their dream property and assist during the entire procedure. |
What are the main types of properties one can acquire in France?
In France, one can purchase a variety of properties. Some of these are:
- apartments;
- detached houses;
- semi-detached houses;
- villas;
- it is also possible to acquire traditional/historic real estate, such as farmhouses, castles, countryside manors, etc.
Foreigners can also acquire commercial and industrial properties.
What are the main steps in buying a house in France?
If you have decided to buy a property in France, we recommend you review the following guide to understand what you need to do. You also have the support of our French lawyers for all the formalities involved:
- choosing the right property – you can collaborate with a real estate agency to buy a house in France (also, our specialists can guide you regarding the legal aspects of real estate property in this country);
- property verification – with the help of our French lawyer, you can benefit from verification of the house you want to purchase (normally, real estate due diligence can be requested, a procedure that can highlight if there are legal problems involving the previous and current owners);
- preparation of the pre-sale agreement – this document is like a guarantee for the seller that the house in question will be bought (in addition, a payment of 5% or 10% of the price of the property will be made, and the money will be transferred to a bank account in France);
- signing the final contract – the sale and purchase agreement can be drawn up and verified by one of our French lawyers (this document must contain all the details about the house to be bought, respectively information about the former owners, plus the history of the construction (the final signature takes place in front of the public notary);
- receiving the new Title Deed – as soon as the documents have been signed, the new owner will receive the Title Deed of the respective house.
On the other hand, you might want to read the following infographic on this topic:
Can foreign citizens buy real estate in France?
France is one of the most liberal countries in the world when it comes to the right of owning a property, as there are no restrictions related to buying land or any other type of property here.
What categories of foreigners can acquire property in France?
Natural persons and legal entities can acquire properties in France.
What is a pre-sale contract in France?
One of the most important steps for purchasing real estate in France is to sign a pre-sale agreement with the owner of the property. This agreement will help both the seller and the owner, as it will act as a promise to sell, respectively to buy the property. Upon signing a pre-sale agreement, a deposit will be paid.
What is a sale agreement for a property in France?
The sale-purchase agreement in France (compromise de vende) creates a bilateral obligation for the parties. The document can be used in a standard form or it can be drawn up by the real estate agent or the French notary overseeing the transaction.
What are the main provisions of a sale contract?
The sale agreement generally includes the following information:
- the names of the parties;
- the price of the property;
- the address of the property;
- information about mortgage;
- a list of the materials and items available in the house and their evaluated value;
- other conditions for selling the property.
Here is a video presentation on this topic:
Can buyers obtain mortgages in France?
Buyers may apply for a mortgage in France, if they need additional financial help to cover the purchase price of the property and if they qualify under the conditions stipulated by the bank. Certain documents need to be provided when applying for a mortgage in France.
Is it possible to obtain a mortgage as a non-resident?
Yes. If you need financing for buying a property in France, you have the right to apply for a mortgage at a local bank in France. However, the lending conditions can be different (shorter terms and higher down payments). Rules vary from one bank to another and this is why it is important to address our French lawyers, who can offer in-depth information on the current lending conditions.
What are the main fees and taxes involved the purchase procedure?
When buying a French property, there are several types of fees and taxes involved in the procedure, some of which are the following:
- acquisition costs (they vary based on the age of the property – typically, for new properties, the tax is charged at a reduced percentage – calculated from the sale price, while older properties are charged with a higher acquisition tax);
- the procedure also implies the payment of registration fees (including the land registration fee);
- value added tax;
- notary fees (the purchase formality can only be concluded through a notary public in France);
- lawyers’ fee (it is highly recommend to benefit from legal services when purchasing a property, especially when you are a foreigner).
When is the VAT charged on the sale of properties?
VAT is applied to the sale of properties as long as they are considered new real estate. By the French definition, a new property is one that has been completed for less than 5 years. In other cases, the tax does not apply. If you want to learn more about this tax, please read the article here.
How else can you assist me?
We can also help you with information about buying properties in other countries, such as Greece, through our local partners.
Please contact our French law firm if you need assistance in buying or selling a property in France.