Guide to buying property in France
Are you a foreigner looking to invest in real estate in France? Whether you dream of an ancient house in the countryside in the South of France or an apartment in the vibrant heart of Paris, buying property in France can be a rewarding, yet complex, process. Our guide to buying property in France walks you through every step of the legal journey, from the initial property search to signing the final contract. With the expertise of our lawyers, who practice French property and tax laws, you’ll navigate the intricacies of the market and confidently make your purchase.
English-speaking Lawyers to assist you with your property purchase in France
When buying a house or an apartment as a foreigner in France, it is crucial to have a team of experts guiding you. At Valoris Avocats, our team of multilingual lawyers specializes in assisting foreigners in the French property market. Our expertise covers not only French real estate laws but also tax regulations, ensuring every aspect of your transaction is legally sound. Fluent in English, German, and other languages like Spanish and Mandarin, we offer personalized advice and ensure that each step is clear and transparent. Working with Valoris Avocats can help you avoid common pitfalls and streamline your house buying process in France.
Buying a property in France: is it a good investment?
Investing in French property offers numerous advantages, particularly for foreigners. France boasts a stable and well-regulated real estate market, which has consistently appreciated over the past decades.
Prices vary significantly from region to region. In Paris, the average price per square meter is around €10,000, while properties in cities like Marseille or Lyon are more affordable, ranging from €3,000 to €6,000 per square meter.
Rural areas, especially in the South of France, provide excellent value for those seeking larger properties or countryside homes. Moreover, the country’s charm, lifestyle, and robust rental market make it an attractive option for long-term investment.
Here is a table showing the price per square meter in some of France’s most attractive cities (on 1st November 2024):
| City | Apartment
Average price per square meter (in Euro) |
House
Average price per square meter (in Euro) |
| Paris | 9,282 | 9,898 |
| Marseille | 3,633 | 4,417 |
| Lyon | 4,614 | 5,733 |
| Bordeaux | 4,410 | 5,188 |
| Nice | 5,175 | 5,988 |
| Strasbourg | 3,700 | 3,292 |
| Saint Tropez | 11,159 | 20,332 |
| Courchevel | 12,832 | 13,998 |
Can foreigners buy property in France?
Yes, buying a house in France as a foreigner is possible without any major restrictions. However, there are some distinctions based on nationality:
- EU Citizens: European Union citizens face no barriers when purchasing property in France. The process is as straightforward as it is for French nationals.
- Non-EU Citizens: Non-EU citizens, including UK nationals buying property in France post-Brexit, are also welcome to invest in French real estate, though they may need additional documentation for long-term residency if they plan to live in the country. Despite these extra steps, the French government encourages foreign investment, and most buyers encounter no significant hurdles.
House buying process in France as a foreigner: the different steps
Finding and visiting properties in France
The first step in buying a property in France is to search for suitable properties that match your budget, location preferences, and lifestyle or investment needs. You can use websites such as SeLoger or Le Bon Coin, or opt for real estate agents who can offer personalized services. Visiting properties is an exciting part of the process, allowing you to explore different regions and architectural styles, from charming cottages to modern apartments, with or without work to do.
Hiring a lawyer or a notary
In France, the notary public is mandatory for any real estate transaction.
Contacting a lawyer is crucial in ensuring a smooth house buying process in France, particularly for foreign buyers unfamiliar with French property and tax laws. Your lawyer will perform background checks on the property and the seller and handle much of the legal paperwork.
Additionally, you will need a notary to oversee the signing of the sales contract. While notaries are mandatory for finalizing property purchases, their role is more neutral, whereas your lawyer advocates directly for your interests.
“Offre d’achat”: Making an offer on a property
Once you’ve found your ideal property, the next step is to make an official offer, known as the “offre d’achat.” This written offer, which indicates the price you’re willing to pay, is binding if the seller accepts. It’s essential to be clear on terms like deadlines, conditions, and financing at this stage. If your offer is accepted, you move on to the next stage of the transaction.
“Compromis de vente”: Signing a preliminary contract
The “Compromis de Vente” or “promesse de vente” (practice depends on the region) is a preliminary sales agreement between the buyer and the seller and an essential step of the house buying process in France. It outlines the terms and conditions of the sale, such as the price, property details, and the expected date of the final contract. The buyer typically pays a deposit (around 10% of the property’s price) when signing the “Compromis de Vente” or “promesse de vente”. It’s a legally binding agreement, but you still have a 10-day cooling-off period in case you need to withdraw from the deal.
Such a preliminary contract does not require the involvement of a notary public, but a lawyer can play a useful role at this stage.
“Acte de vente”: Signing the final document to become an owner
The final step of the house buying process in France is signing the “Acte de Vente” in the presence of a notary. This document officially transfers ownership from the seller to the buyer. Once signed, you are legally the new owner of the property. From the moment the “offre d’achat” is accepted, this process can take two to three months, depending on the complexity of the deal.
How much does it cost to buy a house in France?
In addition to the property’s purchase price, several costs are involved when buying property in France. These include:
- Notary Fees: Approximately 7-8% of the property’s purchase price.
- Realtor Fees: Typically 3-5% of the sale price.
- Property Taxes: Annual taxes such as “taxe foncière” and, for wealthier buyers, the “Impôt sur la Fortune Immobilière” (IFI).
- Insurance: Property insurance is mandatory and must be in place before finalizing the purchase.
Each of these expenses can add a significant amount to the total cost of purchasing a house, so it’s essential to budget accordingly.
Our Lawyers with in-dept expertise in property purchase in France
