BUY IN PARIS
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Paris property market in 2017
Despite prices displayed often unchanged, we actually see a fairly significant drop in prices for the past two years. The market has become much more selective for these two years, apartments with defects are not selling, especially not to a foreign clientele. Negotiation is therefore clearly rebalanced in favor of buyers who start return to the market to seize good investment opportunities.
Foreign buyers are returning to the Paris property market
The proportion of foreign buyers in the housing top Parisian locations is still very important in neighborhoods like the 16th North, Parc Monceau, Saint-Germain des Prés, Invalides, …
What are our foreign customers looking for ?
Today we see two quite distinct types of buyers: on one side, we see French investors returning to the market, attracted by the wide range of goods and lower prices. These opportunistic buyers are most active in western Paris and hope to buy goods that were previously out of their reach.
Paris and other international cities
The owners are more than ever aware of the lack of market liquidity , and thus the price adjustment will continue. Therefore, Paris is again more competitive vis-à- vis other international cities such as London , New York or Hong Kong, offering interesting investment opportunities for its diversity and the quality of many products offered
Milestones Acquisitions in France
1 - Agree on the price
A potential buyer of a prestigious property may wish to negotiate the sale price of the property if the original set price by the owner does not suit him. A promise to purchase is then given by the buyer. This offer once validated by the owner leads to the next step, the sales agreement. Would the seller refuse the offer a counter proposal would be given; negotiation will end when both parties reach an agreement.
2 - The sales agreement
3 - The final deed of sale
The signing of the deed of sale completes the sale of the property. Before that date and after signing the sales agreement , the notary will take care of verifying the authenticity of documents necessary for the sale of real estate.
4 - Taxes and Fees
The selling real estate agent fees are calculated around 4% of the price of the property, excluding VAT, and are paid by the seller. The buyer is to pay the notary fees and land registration.
Property taxes, housing taxes must also be taken into account by the new owner at the time of the acquisition of the property. We are at your disposal to help you with the legal obligations related to buying a property in France.
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