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Several reasons for property purchase in France

Reasons for property purchase in France.

France is an impressive European country. Exquisite French cuisine, the most beautiful ski resorts, and worldwide known Mediterranean resorts attract tourists from all over the world. Infrastructure is well developed in France, and it makes this country attractive from the point of view of doing business. French economy is one of the most stable in Europe. Rate of economy growth is higher than the average factors in Europe, and inflation rate is one of the lowest in Europe. France holds the third position in the world in terms of volume of the attracted foreign investment. French real estate is one of the most profitable and attractive business areas. Cost of real property in France constantly increases. Purchasing an apartment or a villa in France is reliable capital investment.

Before you purchase property in France you need to know that there are two main real estate categories which are apartments and private residences. Apartments market is developed in major cities, and the market of cottages and houses - in suburbs and provinces. Cost of property is defined on the basis of its location which is a well-known global factor. To purchase an apartment in Paris you should base your calculations on the cost from 4 000 Euro to 12 000 Euro per one square meter. The most expansive districts in Paris are as follows: Montparnasse, San Michele, the Eiffel Tower, the Musee d'Orsay, and the Champs Elysees, where the cost is 7 000 Euro and more. As for the other French cities such as Marseilles or Lyon the cost per one square meter is from 1.5 thousand Euros. Of course the famous Cote d'-Azur stands out here in particular as the cost per one square meter is estimated to be from 3 500 Euro to 7 000 Euro.

You should know the following with regard to expenses for an apartment, a villa, or any other real estate property purchase in France: cost of property does not include notarial taxes and fees consisting of notary fee and state charges and taxes on purchase. The amount of notarial tax is usually 7 - 7.5% (for some taxes this is the percent of property cost indicated in a notarial act of purchase and sale). Moreover, there are taxes on property housekeeping such as property tax, lodgment tax, utility payments, and obligatory insurance.

It is possible to purchase an apartment or a villa in France on mortgage. Initial payment is 30% of property cost. Compulsory mortgage to a bank is the amount of monthly mortgage payment multiplied by 24 months, plus 120%. The mortgage remains in your bank account. If you purchase the property for lease the mortgage is not required. Rate on credit is 4-5%.

You are provided with support in all stages of property purchasing and formalization. We guarantee full services, no troubles and professional approach.

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