Buying Guide Details

Buying Property in Franche-Comte

Where to buy property in Franche-Comte

This eastern region is one of the cheapest places to buy property in France. Overseas property buyers have yet to pick up on the region as it is not well known outside France, though it is well connected by road and rail to the rest of the country and Europe. There’s a big Swiss flavour to the area, literally so in the case of its renowned cuisine, but also in its stunning landscape of forests, green valleys and mountains.

The Jura Mountains are a haven for winter sports pursuits as well as offering beautiful summer scenery, with St. Claude the main tourist hub of the area. There are around 2,500 kilometres of cross-country trails and numerous resorts dotted over the range, such as Les Rousses and Morbier. Investors will note the rental potential of property in the popular resorts. The town of St. Claude is the major tourist hub for the region.

The regional capital Besançon is not usually on the tourist trail despite its great visual appeal and historic interest, the town dating back to Roman times and located right at the centre of Franche-Comte on a hilltop surrounded by dense forest and, on three sides, by the River Doubs. The Doubs region has a dramatic landscape with lakes and waterfalls and lush green valleys.

Forty kilometres west of Besançon is Pesmes, voted France’s prettiest village, situated in the Haute Saône département, which is itself a peaceful and unspoilt area, dominated by farming, forests and over 1000 lakes.

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The Process of Buying Property in Franche-Comte

• Once the buyer has found a property in Franche-Comte 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 Franche-Comte 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 in Franche-Comte, 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 in Franche-Comte usually includes 19.6% IVA, but always verify this from the start
• If a French property 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’s no major airport in the area. Fly to Strasbourg (for the north) and Lyon (for the south) as well as Geneva and Basel airports in Switzerland. There’s a TGV (high-speed train) link to Dijon in neighbouring Bourgogne (Burgundy), to the west.

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