frequently asked questions
about buying real estate in Paris
* Especially for international buyers and those new to the Parisian market:
1. Can foreigners buy property in Paris?
Yes, foreigners are welcome to buy pari real estate Paris without restrictions. However, the process involves certain legal and tax considerations, especially regarding residency and inheritance laws.
2. How much should I budget for buying a property in Paris?
Prices in Paris vary widely depending on location, size, and condition, with prime areas reaching upwards of €15,000 per square meter. Additionally, buyers should account for transaction fees, including notary fees (7-8%), agency fees (3-5%), and other potential costs. Please check out our news blog in english to follow the latest market trends and Paris real estate price evolutions.
3. What are the additional costs involved in a purchase?
Expect to budget for:
Notary fees: Around 7-8% of the purchase price, covering registration, legal fees, and government taxes.
Agency fees: Often between 3-5%, usually paid by the seller, but not always.
Property taxes: Annual taxes such as Taxe Foncière (property tax) and Taxe d’Habitation (residence tax if you live there).
4. What financing options are available?
Foreign buyers can apply for mortgages in France. Most French banks offer financing to international buyers, with rates typically lower than those in many other countries. Buyers generally need a down payment of at least 20-30%.
5. What are the best Paris neighborhoods to invest in?
The 16th, 7th, and 8th arrondissements are often the most desirable due to their prestige and proximity to landmarks. However, neighborhoods like the Marais (3rd and 4th), Saint-Germain-des-Prés (6th), and the 11th as well as other spots like Montmartre, offer charm and strong rental demand, appealing to many international buyers.
6. How does the buying process work in France?
The process usually involves several steps:
Offer Acceptance: An offer is submitted and accepted.
Preliminary Contract (Compromis de Vente): Both parties sign a preliminary contract, often with a 10% deposit.
Cooling-off Period: A 10-day period for the buyer to reconsider.
Final Deed of Sale (Acte de Vente): Signed at the notary's office within 2-3 months, transferring ownership to the buyer.
7. What taxes will I need to pay when buying and owning ?
Main taxes include notary fees upon purchase, Taxe Foncière (annual ownership tax), Taxe d’Habitation (residence tax), and, for rental properties, income tax on rental income.
8. Are there restrictions on short-term touristic rentals ?
Paris has strict regulations on short-term rentals. Most properties must be rented for at least a year or for nine months if rented to students. For those looking to rent out on a short-term basis, it’s essential to understand these restrictions and register it as required, if allowed.
9. How can I estimate the value of Paris Real Estate?
Factors include location, size, condition, building amenities, and views. Working with Paris real estate agency like us, or appraiser can help determine an accurate market value.
10. What are the inheritance laws in France?
French inheritance laws are strict, especially regarding rights of family members to the estate. International buyers should seek legal advice to understand how inheritance laws will impact ownership and inheritance rights for family members.
11. Should I work with an agency ?
While it’s not required, working with a local englis speaking real estate agency who understands this complex market can make the process much smoother. They can help with finding offers, selection, negotiations, and understanding market prices.
12. Is it possible to buy remotely?
Yes, purchasing apartments or houses remotely in France is common, especially for international buyers. Many notaries and agents can handle electronic document transfers and online signatures, though some steps may require in-person visits or notarized power of attorney.