French real estate is invariably popular with Russian citizens, even though it is one of the most expensive in Europe. Someone buys objects to profitably place their funds, someone else for renting or personal use.

At all times, vacation in France was considered a prestigious pastime. Cannes, Nice and the entire Cote d'Azur are in special demand. The cost of the most modest apartment here starts from 260 000 €, and villas can reach up to 2 million €.

Housing in the Alps, Chamonix, or Courchevel is often bought for rent. With the onset of the ski season, the demand for rentals breaks all records. Lake Geneva is another popular destination, where people relax and get treated in one of the many medical facilities. The cost of housing in the Lake Geneva area starts from 155 000 €.

The average cost of housing in different regions of France:

  1. Languedoc-Roussillon - dominated by old buildings priced from 375 000 € and apartments from 185 000 €.
  2. Alsace - a "student" place with an abundance of educational institutions. A lot of simple apartments with prices from 120 000 €.
  3. Aquitaine - a prestigious region, where it is good to invest in real estate to earn money. The cost of the objects is 250 000 €.
  4. Paris - the capital's real estate is characterized by stable investment attractiveness. On average, the cost of apartments every 5 years increases by 30-40%. The average cost per m² at the end of 2022 was 14 500 -16 500 €. In different areas, the price can vary dramatically.
  5. Normandy and Brittany - are characterized by the most attractive real estate value. It is possible to find an apartment for 15 000 €.

The diversity of the real estate market in France

It is the French market is characterized by the greatest diversity in Europe. You can buy an apartment of up to 10m² in Paris - and it will be a complete home.

Apartments - apartments with several bedrooms and even two bathrooms. Palace apartments are luxurious dwellings typical of Paris and large cities. They are characterized by large size, high ceilings, and location in prestigious areas.

Castles with centuries-old history, villas, cozy chalets, and old houses - these types of properties are also in demand in the market.

How the sale transaction takes place: step-by-step instructions

After the final choice, the parties need to go through the following stages:

  1. Conclusion of a preliminary agreement. The document is drawn up in French and legally secures the property to the seller, it can no longer be positioned as for sale. All important conditions, information about the parties, the object of the transaction, the cost and method of payment, and the date of sale are fixed, and signatures are put. During the execution, the presence of a licensed translator, notary, or real estate agency is mandatory. After signing the contract, the parties can not change the terms, or demand additional payment, discount, or revaluation.
  2. Transfer of advance payment. After signing, the buyer must transfer 10% of the price of the object to the special account of the notary within 7 calendar days. The payment must be made from a personal account, the funds are kept with the notary until the end of all settlements. After the transfer, the notary sends a notification to the buyer. From this point, a 7-day period begins during which the buyer can withdraw from the purchase without penalty. At the end of the 7 days, it is also possible to refuse, but with a deduction of the listed 10% down payment. If the seller refuses, the deposit is refunded in double the amount.
  3. Verification of the property by a notary. In France, the notary is 100% responsible for the transaction and all calculations, his duties include checking the object: the presence of debts, searching for hidden defects, and the prospect of development of the selected area. If serious defects are found - this may be a reason to break the deal without withholding the advance payment from the buyer.
  4. Payment for the transaction. While the object is being inspected, the buyer must decide how exactly he will pay for the purchase: execution of a loan or transfer of personal funds to the notary's account. For the services of a notary should be deducted about 7-8% of the price of the object. If the property is less than 3 years old, the amount will be reduced by 4-5%.
  5. Registration of the acceptance certificate. After a full inspection of the object notary and the transfer of the client the entire amount, the final document is signed - Acte de Vente (the act of purchase and sale). The buyer must be present in person in France together with a translator.
  6. Registration of the real estate. After signing the Act, the notary within a few days formalizes the title of the new owner. The buyer must insure the property and sign contracts with utility companies.

After buying a property, the owner has to pay the following expenses: property tax, residence tax, luxury tax (if the value of the property exceeds 1,300,000 €), and utility bills.

Residence permit program for FNP

The purchase of French real estate does not entitle you to an automatic residence permit but allows you to participate in the residence permit for financially independent persons. The annual passive income per applicant is a minimum of 36,000 €. After 5 years you can apply for permanent residence, and after another 5 - for citizenship.

When applying for a residence permit, owning real estate in France will be a significant advantage for the applicant. The more expensive and larger the object, the more loyal the attitude to the candidate.

If you have any questions regarding the purchase of real estate in France or you need help in finding and registering the object, the specialists of the licensed agency GARANT IN are happy to help. We work with proven developers and real estate agencies, know all about the intricacies of French law, we will help you find a property that will fully meet the needs of the buyer. We will help to solve issues with the registration of residence permit/residence permit/citizenship, submit documents, to settle any related tasks. The experience and high qualifications of our employees allow us to promptly resolve issues of any complexity.