Buying Guide Details

Buying Property in Aquitaine

Where to buy property in Aquitaine

Stretching from the Dordogne down to the Pyrenees in the southwest of France, the region of Aquitaine covers a varied terrain – and prices for property in Aquitaine vary accordingly. Dordogne’s lush landscape of forests, fields, rivers and lakes still harbours a few bargains, though renovation opportunities are limited. It has been attracting UK property buyers for many years.

Lot-et-Garonne already attracts many affluent young French buyers; halfway between Bordeaux and Toulouse, the plum-growing area around Agen is well-placed for those looking for a getaway from the city, set in lovely countryside and within easy reach of the sea. Around Bordeaux are the vineyards of the world’s largest wine-producing region and some renowned coastal towns – check out Arcachon for its oysters or a host of beach resorts such as Cap-Ferret.

The département of Landes has the endless sandy beach of the Côte d’Argent (Silver Coast) and a lush hinterland of pine forests and lakes. The spa town of Dax dates back to Roman times.

Pyrenées-Atlantiques slopes gently to the mountains and the border with Spain and offers sea and skiing, a mild climate and great affordable homes. The fashionable beach resorts such as Bayonne and surfers’ paradise Biarritz have some of the most expensive property in the region, but inland towards Pau, the Basque country has country homes at very reasonable prices.

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The Process of Buying Property in Aquitaine

Once the buyer has found a property in Aquitaine and made an offer, both parties must sign a compromis; a legally binding agreement setting out all terms involved
Financing will have to be sorted out by this stage as details regarding any loans must be clearly outlined in the compromis
There is then a seven-day cooling-off period, which gives the buyer (but not the seller) the opportunity to back out of the deal without penalty. A 10% deposit is then required and the notaire then carries out all checks on the property (for clean title, wood rot, etc)
Before the signing takes place, all funds must be transferred to the notary’s account. Failure to do this on time could mean the buyer loses both the property and the money
If the buyer is not able to visit the property in Aquitaine before signing the final contract, a representative should do so on their behalf to make sure that everything is in order. The contract clearly states that the property is accepted in its condition on the day of sale
Finally the acte de vente is signed in front of the notary, and the sale is complete.

Homes Overseas Property Club

Homes Overseas has joined forces with a collection of IFA specialists to form the Homes Overseas Property Club (HOPC), designed for existing and prospective overseas property homeowners.

The Club – which has access to international lawyers in no fewer than 43 different countries - has been set up in order to guide people through some of the various issues relating to buying and maintaining a property overseas. It offers advice on a range of topics, including financial, legal, insurance, taxation, property management and foreign currency matters.

For further information please telephone 0845 838 7142 or email info@homesoverseaspropertyclub.com

Fees & Taxes

Vary hugely depending on the region and type of property, but set aside 12 to 15% of the selling price
Allow around 6 to 8% per cent for notaire’s fees. This includes stamp duty, which varies from 0.6% for a new-build to 6% for any property over five years old
Agents’ fees vary greatly and can be anywhere from 4 to 15%. Around 7% is the most common amount, but check when looking in agent’s windows for the letters FAI after the price – this indicates that their fees are already included
IVA (VAT) of 19.6% is applicable on most fees and taxes, but is avoided on leasebacks. The price of new-build properties usually includes 19.6% IVA, but always verify this from the start
If a property in Aquitaine is sold on within two years, capital gains tax is likely to be in excess of 33%
Transfer tax varies greatly, but for properties over five years it tends to be around 7%.

Getting there

There are plenty of travel options, with many airlines flying from all over the UK to Bergerac, Pau, Biarritz or Bordeaux.

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