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The Ultimate Source for Lovers or Future Lovers of the French Riviera - Cote d'Azur |
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1st French Property Guide
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Table of Contents of this Page
Introduction to this Guide
Please fill in the French Property Form in order to make your specific request for your 1st French Property.
Even better: before doing so, start searching YOUR 1st French Property by clicking on the box, right of this text and read this guide.
You have spent your holidays in France or just dream to live here.
You have fallen in love with a specific region or area and you would like to buy your 1st French Property.
Everything you need to know about buying French real estate is here.
Whether you're looking for a sumptuous cliff-top villa, or a " pied-a-terre" in Saint Tropez
Do you need the services of Real Estate Agent when sourcing to buy a property on the French Riviera or elsewhere in the country?
How she or he will be helpful for your 1st French Property?
How to buy your French Riviera Property? Through a SCI?. What is a SCI anyway?
Where is/are the Most French Prestigious Riviera Villa - Apartment(s)?
Is YOUR most wanted apartment or villa for sale on the French Riviera in France, right now?
Actually, You just want to know about apartments and villas rentals here or in France or find a Unique French Riviera Luxury Rental for your next vacations.
Or perhaps You just want to know all about mortgage and are looking for VALUABLE advice?
Are Your concern about French Succession Laws and /or French Inheritance Taxes?
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If you are thinking or planning to retire in France or on the French Riviera all is here in this guide.
I can also personally save YOU Time and Money by helping YOU solving ANY problem YOU may encounter with your French Property.
How to access to this helpful information?
Easy, when the text is blue there is a link, just click on it.
yo will be transfer to the page where you will find help and answers to your questions.
The Table of Contents of this Guide is also on the top of this page, it has has also links to these precious information pages.
Have a good trip on About French Riviera Real Estate guide for your 1st French Property.
If you need more info or if you want to add your own imput please feel free to drop me a note.
You are at the right place!
You will discover all that you need and want to know here, in this French Real Estate Guide.
Introduction to this Guide
Well, first thing that you have to know is that the French Riviera comes just after Paris and its suburbs regarding the number of sells of properties in France.
Why? It is simply the best place to invest for your 1st French property.
This is where capital gain on a property is higher and growing faster than in any area in France (apart Paris).
International survey regarding worldwide properties investments shows that France is ranked number 2.
One keyword is important when talking about real estate: LOCATION, this is very simple.
And France and its Riviera are one of these unique locations in the world.
Buying your 1st French Property in France and even better on the French Riviera will be your best investment ever!
When you buy your 1st French Property you have to consider its location first; but also your budget, the view you may want and other important points as how you will finance your purchase: cash or with a Mortgage?
You will never lose your money, it will grow surely.
From 2004 until beginning of 2007, prices have grown up on an average of 24%.
Even with what's going on in the world today, particularly in US; no real crisis in the real estate market here!
Having a look at the market for the past twenty years; experts say it clearly: it will keep on going that way: growing!
Note that you will also invest in a SAFE, STABLE and SECURE place in Europe for your money.
France has also good transportation facilities and systems: airports, trains (TGV, Thalys, Corail), highways etc.
As example, the French Riviera has the 2nd airport in France with direct flights within Europe and from all over the world.
Domestic flights from there to other cities in the country are very well organized.
These days, with discount air carriers a flight to come here cost peanuts if you leave in Europe.
You can be in your property in just a few hours even leaving at the extreme point of Europe.
Easy! (I didn't say Easy Jet!!!).
But most importantly, when you buy your 1st French Property and it doesn't matter where in France, you also have to know what will be your return on investment (ROI).
This is the financial side…
1st French property on the French Riviera?
Well we have also a good weather all year-round here; this is another good reason to invest on the French Riviera, isn't it?
If you own a property on the French Riviera and it doesn't’t matter if it is a "pied-à-terre" (small flat) in Nice or a luxurious Mansion in Saint Jean Cap Ferrat; you will rent it (if you plan too) without any problem.
As for the properties for sale on the market: Demand is higher than Supply.
A good equation for you as a potential buyer and as a future owner, isn’t it?
Most of my customers buy a property here and rent it a couple of weeks during high season at a higher price.
Doing so, they pay all they yearly expenses on the property and they come a couple of times for days, weeks or even months per year to enjoy the French Riviera; sometimes for FREE!
Some even includes in their financial plan their plane tickets and expenses; and it works well for them.
Keeping in mind that in the meantime the capital gain grows too, without doing nothing; time works for them....
History is another reason to invest for your 1st French property in France and its Riviera, which made also what it is today: a magic place.
Its beautiful beaches, its unique culture and its unique and delicious“cuisine” are other reasons to invest here.
In fact the lifestyle is deeply rooted with regional traditions, you will find the French Riviera anything but boring.
Give it a try, come here and spend a couple of days or weeks before buying a property.
Rent a flat or go to the hotel! You will love it!
No to mention that the French Riviera is unique for something else: Summers = Beaches – Winters = Ski.
Sea and mountain are so close that you can be in less than one hour from a slide in a ski resort to bask in the sun on a beach!!!
For ALL these reasons the French Riviera is the choice to make for your 1st French Property.
once again, if you want to invest for your 1st French property, you are at the right place!
You will discover all that you need to know before acting.
My experience and knowledge of the market along these years as a real estate agent can be helpful for you.
I share all that with you here in this guide : 1st French Property.
Buying property in France is not just for movie stars and celebrities.
Ordinary people with a passable knowledge of French can invest in their 1st French Property here.
Language is not a problem anymore in France or on the French Riviera as most of the people speak English these days.
In some places on the French Riviera you do not even need to speak French at all!
My family and I are a good example.
We live part of the year in Villefranche sur Mer, my wife never speaks French here, only English.
Why? Intan is not French, she is Indonesian and she barely speaks French, she never learnt as she felt that she didn’t need too.
Well, she knows some words, a couple of expressions, but that’s about it and more than enough.
I will prefer that she speaks also French, just for me…
But things work out very well without her speaking fluent French.
At home, we speak English, with Océane our daughter too.
She speaks English or Indonesian with her Mum and French with me!!!
No problem for her too…
Do you think that I have to do all the tasks at home because I am the one who speaks French in our family?
My wife does all her shopping, visit to doctors etc.
I mean all by herself as a housewife. She goes outside Villefranche.
She is not stuck because she doesn't speak fluent French.
And you know what?
She is never been lost here on the French Riviera! (Joking!)
By the way, this is here in Villefranche that we bought our 1st French Property together!
However if you feel and want to learn French, just do it! ( from Nike!).
It is always a plus to speak another language than your mother tongue.
It is fun and not so difficult to learn.
All depending upon your motivations and goals as other things in life…
Let's go back to properties!
Before you attempt to invest in your 1st French property, arm yourself with knowledge of how to find your special place, how to buy it, and how to live in it.
Once again and last, all is here in this guide!
You may also use my Unlimited Expert Advice.
Reminder: the prices of the properties in Paris and on the French Riviera are very similar; these areas are the most expensive in France.
But the good news is that when you compare prices around the world as in New York, Sydney, London, Tokyo or other similar large cities; you will be surprised to discover than France is still one of the cheapest places to invest for a property.
Paul Hampton (I use his name with his permission) had two tiny studios in the centre of London that he received in inheritance; he was renting them.
Well, he was planning to buy his 1st French Property on the French Riviera.
When I met him, I showed him properties and he was amazed by the prices compared to the ones in London.
Finally, he sold the two studios in London where actually he had 56 years left.
It was an emphyteutic lease with 56 years left.
Paul bought three 1 bedroom flats in Nice with the sells of the two studios in London.
He is renting them and he earns very good income now, without forgetting that here in France he fully OWNS the properties.
He will give these apartments to his children as inheritance.
Good deal, perfect investment, isn't it?
Finding the Place for Your French Property
As you look for what you want, here are several things to bear in mind:
Do not always expect state-of-the-art appliances, floor layouts, or conveniences everywhere.
Part of the charm of old buildings is that they are old, and that includes the kitchens and plumbing sometimes!
Others properties have been redone-up; can be furnished and ready to move in.
Bring your clothes and sheets!!!
In fact you will find in France different kind of properties and different styles of construction or buildings.
On the French Riviera, architecture goes with the history of the area, which made also what it is today: a magic place.
For your 1st French Property you will have the choice but...
Always remember that there are more buyers than properties for sale on the market; especially in the "most wanted" places as in Paris and on the French Riviera.
Sometimes you will need to be patient to find the right property for you.
Another point coming from my experience: I work most of the time with English speaking clients.
My family and I share our time these days between the French Riviera and the beautiful island of Bali in Indonesia.
That gave me the chance to think and to react as an English person and sometimes I may act or have to act as a typical French.
I do understand YOU!
Some real estate agents here simply don't.
I am just realistic not sarcastic here.
These days, I have even a better understanding of the differences between the different English cultures.
Australians are Australians, Irish are Irish, English are English and so on….
My own family is “mixed” too.
It is the same for the people that I work with as an independent real estate agent here.
They have travelled a lot and some lived abroad too.
We all know what after-sell means.
I am use to say to my customers that I am here before - during - after the sell.
This is not a just a sales pitch, this it is reality.
This is something that most of French real estate agents do not quite understand and do not apply in their work.
That doesn’t quite fit with the French culture perhaps, they sell a property, shake your hand the day of closing and Bye; not all of them but quite a few!
My job is done bye and Thanks!
For me, most of my costumers became my friends, I am here - ALWAYS AVAILABLE! .
A note: sometimes I also found the right property for a customer (99, 9% of my customers are foreigners) and they don’t react "well" if I am a bit pushy.
Equation here is still the same: More Buyers than Properties for sale on the market.
If it is what you are looking for and you are ready to invest, don’t miss it!
Go for it!
Decide first if you want a "pied-à-terre" (a small place where you can comfortably stay for several weeks or months at a time) or a year-round residence.
Your 1st French Property has to be what YOU want not what the real estate agent want to sell...
Sometimes, an apartment is sold with an empty kitchen - four walls and a water outlet, and that will be it!
There are stores that will help you design and install your own kitchen, ranging from pre-fabricated cabinets at IKEA to a kitchen created by "cuisinistes".
Get at least three estimates as well as references before selecting your vendor.
If you will be in a city, decide whether or not you will have a car.
Parking in large French cities is like anywhere in the world: difficult; having a parking place can greatly increase the resale value of your property.
If one is available with the property you plan to buy, buy it!
You will not regret it, I guarantee it!
It will be very easy to rent it anyway if you do not use it.
The French Riviera offers a wide variety of properties, not all of them are suitable for you.
In fact, there quite a lot of properties for sale but most of them do not wotrth to pay a visit.
Remenber above: More buyers than properties on the market.
I was and am talking about the RIGHT properties.
Wrong location, price to high and so on.
Before you go to the effort of buying something, you really need to explore.
As an example Nice itself is divided into different "quartiers" (areas), each with its own character.
If you are willing to live outside the city, prices drop dramatically.
Properties in the countryside are considerably cheaper.
Finding the right property will be very easy for your 1st French Property, if it is available on the market and if you make the right choices.
We have also a Multiple Listings in France; you don’t need to shop around.
In France, good real estate agents are linked and have access to SIA/MLS an internal database for real estate agents and real estates.
Only properties where real estate agents and real estates are sole agent are listed.
It is an excellent database.
Why?
Because the properties displayed in this database have the right prices as the sole agent has the entire responsability of the sell of the property; the seller wants results!
This database being accessible only real estate agents and real estates, you will understand that we need good prices for our clients!
I use it intensely myself for my clients!
In France more than 80% off real estate transactions occur with the help of real estate agents; the rest are directly done between buyer and seller.
As a foreigner, you might be more comfortable working through a Real Estate Agent or "agent immobilier" in French:
- Someone who knows the laws in France.
- Someone from who you will benefit from her or his hands on expertise.
- Someone from who you will benefit from her or his wide experience and knowldge of the market in order to finalise your project.
Getting Started!
Let’s say that you’ve decided to buy a flat for your 1st French Property in Cannes.
Walk the streets to find an area you like, and then hunt down some real estate that look promising; I mean the listings in the windows not the flashy furniture or design.
Some real estates have both!
Or perhaps you already have a trustable real estate agent.
You can also check out the listings and real estates in various magazines, newspapers (often free), and on the Internet.
If you found or already have a good real estate agent, keep her/him, she or he will advise you where to live and not to, regarding your needs and preferences and her or his knowledge of the area.
There is relatively little new construction in large cities.
Those apartment complexes that are being developed are usually sold when ground is first broken.
In other words, you basically buy an apartment two years before it is completed.
They tend to be smaller and smaller too (often the bedrooms).
Occasionally, you will find almost-completed apartments listed in newspapers and real estate magazines.
If you are truly brave, you can buy a property in an auction for your 1st French Property.
Better than been brave use advices from an expert who will be of great help if you decide to buy your French Property in an auction!
Notices appear in newspapers such as Nice-Matin for the French Riviera.
Beware!.
At least take advices from an expert and an architect with you when you go to look at the offering.
Have a survey done on the property that worth the money spent.
Especially if it is your 1st French property!
As you can see you have different ways to find your 1st French property -- and a couple of things to be aware of too...
Reading Listings
No matter where you find your listings, they will all be posted as A Louer (For Rent) and A Vendre (For Sell).
They will also tell you which area (if in a city) or "département" (if in the rest of the country) the property is located in.
Perhaps most importantly, they will give you the size in square metres and the number of rooms.
Many apartments in France are small.
Studios are 100 - 200 square feet, some even smaller.
Three-bedroom apartments are frequently less than 1,000 square feet.
Listings will tell you how many rooms there are other than the kitchen.
A studio is one room.
A one-bedroom apartment will be called two "pieces" (2 Pièces in French), or two rooms, plus the kitchen.
Bedrooms are almost uniformly small, while the living rooms are comparatively large.
Bear in mind that in France we follow the European convention of counting the first floor as the ground floor (Rez-de-Chauseé or Rdc); the second floor in American terminology is the first floor in Europe.
Generally, the higher is the floor, the more expensive the property.
A terrace, a sea view, a garage, a parking or others will add to the price.
How you can see, there are a couple of "things" to consider before you invest in your 1st French Property.
It is not so difficult, be organized .
It is important that you keep a notepad with you where you write down all details, what you see, feel and think; for each property you visit.
I also advice my clients to use a page by property they visit in their notepad where they have two columns one for + and one for -.
Write all you thoughts!.
By experience, I know that it will be difficult to find exactly what you want but these pages will help you to take your decision objectively.
After all the role of a real estate agent (mine) is only to advise you regarding your preferences and needs when you invest in your 1st French Property.
To help you for a find a mortgage if you need too and other important aspects as guiding you through the Property buying stages and the legal and tax implications.
But I will never live in the property you buy, you will!
Sometimes, I know that the property that I am showing is the right one for this client visiting it, experience!
But if the client doesn't "click", I do not insist.
My concern is that YOU like the property, not me!
But... do not miss it or it will be sometimes very difficult to find something similar.
Take the wise decisison at the right time!
I work on a long term-basis, I never had until today a client coming back to me saying: Bruno I am not happy with my property.
If you are happy with your investment you will spread the word, if you are not happy, well it is not good for me...at all...
Closing the Deal
Once you have decided on a place you like at a mutually agreed upon price, you and the seller sign a document known as a "promesse de vente".
You are on your way to own your 1st French Property.
You are also on your way to invest in your 1st French Property!
This is a legally binding document that confirms that the seller must sell the property to the buyer.
You have however 7 days to change your mind (starting the day you receive the registered mail): Loi SRU or La loi Solidarité et renouvellement urbains - SRU Law.
You will not use this "exit" if you did all that is stated above and took the right advices!
The seller must also provide to the buyer an accurate floor plan of the property (only for condominiums, for private property as villas it is not compulsory but you can ask for and I do advice it): Loi Carrez - Carrez Law.
All sales in France are conducted with "Notaires".
When you talk to them, you have to call them Maitre (Master); that always make me laugh!
Both the buyer and seller have usually their own "Notaire".
Part of their work is to confirm that all aspects of the sale are done according to law.
Depending on buyer and seller choices the Notaire could be the same for the buyer and the seller.
If you are buying a condominium, there will be a set of rules that govern the building.
As an owner, you are a "Copropriétaire" (joint owner)and are bound by the laws; too tough let’s say rules of the building.
Owners collectively determine such things as whether the building as a whole will subscribe to cable TV, how often and how much money will be spent on repainting the walls and so on.
Do not make the mistake (as some nope MANY do…) of not personally reading all regulations before you sign.
If it's your 1st French Property, read it twice..
As a foreigner, it is advisable to hire an "avocat"(lawyer), who specializes in real estate.
In case of a disagreement, you are far better off having someone who knows the law and speaks French and who knows the"French Way".
When you buy your 1st French Property: learn, it will help you to understand the process.
Tax Considerations
Before buying your 1st French Property, you should know that the French Government has very specific succession laws and inheritance taxes.
Good news!
One of the promises of Nicolas Sarkozy as a candidate for presidency was that he will make things more easier and cheaper.
All that to make real estate market and investments more attractive in France..
Laws have been voted in 2008 and some of the new laws started to apply in January 2009, others will later on.
It is even more interesting for foreigners to invest in France these days!
Talk to a lawyer and your French Notary and take expert advices about this before you buy the property.
You will pay between 6 and 8 percent in taxes and fees of the buying price for a new property.
If you buy a property which is less than five years old, however, you will pay only 3 to 5 percent all in.
Ask also about property taxes, which tend to be less in some parts in the country.
Generally, you will be responsible for both a land and a habitation tax.
A larger question is your residency status.
If you reside in France full time and earn a living here, you will become part of the French social system; considered as one of the best in the world.
The taxes are high here, you can have it all!
You should seek the advice of a tax attorney who is familiar with both: your country and French taxation systems.
You can get a list of attorneys from your embassy or consulate usually.
Your 1st French Property is an investment .
DO NOT involve emotion in the process, with the right advices every aspect will go smoothly!
When you buy your 1st French Property: learn, it will help you to understand the process.
Financing
If you are able to pay cash for your 1st French Property, you will not need any mortgage, and many properties for sale in the country might well be within reach of your savings kitty.
If you need a Mortgage, things become a little bit more complicated.
A French bank will issue a mortgage to foreigners as long as you can show regular income.
If you apply for a mortgage in France, the total of all of your mortgage payments worldwide cannot be more than 30 percent of your total income.
Lastly, you must have mortgage insurance for a large mortgage and a physical examination at the bank’s expense.
Visit my French Property Mortgage page where you will find all the information regarding your 1st French Property mortgage.
The good news is that mortgages in France currently have excellent rates.
Most mortgages (or "prêt") are for 15 years and currently run on an average of 5 percent annually.
Now in France you can apply for a mortgage for 50 years!
All in all, buying property in France might seem like a daunting experience, but it is not an unpleasant one.
Contrary to France’s reputation of being inhospitable to foreigners, many of my clients have found the opposite to be true.
With the notable exception of a few surly taxi drivers, they have found the French to be polite and helpful.
And as you will take your evening walks, you can’t help but be amazed that a small part of France belongs to YOU!
Let's get back to the mortgage option.
Buying your 1st French Property with a Mortgage can be a good idea, but getting the right advice can be a problem.
Please do not hesitate to cosult me on any question(s) you may have, problem(s) and so on with your French Property.
I can supply expet advice(s) and arrange French mortgages for you.
Last note regarding mortgage: you can also apply for a mortgage in your country for your 1st french Property.
You will maybe find this solution more practical for you.
But once again remember that interest rates for mortgages are lower in France compare to other countries.
For your 1st French property, if you can, apply for a mortgage in France, it will be cheaper...
This real estate guide called: 1st French Property is provided for information purposes by About French Riviera and should be used for information purposes only.
This guide has been written and is updated on regular basis upon my own experience and work as a real estate agent.
Details of legal advisors and tax specialists can be provided as a service.
Whilst I took and take every care in the writing of this guide, About French Riviera.com or myself cannot accept responsibility for any losses arising from information, errors or omissions.
Sure you are!
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At this crucial moment, you must have a plan and you are most likely going to have a few questions that are particular to your OWN SITUATION... Use the Unlimited Expert Advice!
Yours truly,
Your French Riviera Guide
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