Buying Guide Details

Buying Property in Paris-Isle-of-France (Île-de-France)

Where to buy property in Paris-Isle-of-France (Île-de-France)

Surrounding Paris, this northern region is among the wealthiest in France and property buyers on a budget may not get much for their money here. Central Paris has some of France’s most expensive real estate but in the suburbs, the prospective property buyer’s money should go further.

In the surrounding départements of Essonne, Seine-et-Marne and Yvelines there is countryside, marvellous chateaux and affluent residential neighbourhoods – and high property prices due to the convenience of the capital’s proximity.

Though not a tourist area, the suburb of Marly-le-Roi between historic Versailles and St-Germain is one of the most fashionable and affluent to the west the capital. One of the busiest commercial areas is around La Défense, which also boasts very high property prices as a consequence. In the southeast, Vincennes in Val-de-Marne is a popular town where property prices are high compared to the French average but rather cheaper than the city centre equivalent.

Further out towards the borders of the region, towns such as Nogent-sur-Marne and Auvers-sur-Oise have inspired some of France’s best-known artists. Though property in these more distant suburbs is still priced above the national average, in general it is cheaper than the suburbs closer to the city and certainly a great deal more affordable than a property in the capital itself.

View property for sale in Paris-Isle-of-France (Île-de-France)

The Process of Buying Property in Paris-Isle-of-France (Île-de-France)

Once the property buyer has found a property in Paris-Isle-of-France (Île-de-France) 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 property 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 in Paris-Isle-of-France (Île-de-France) (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 in Paris-Isle-of-France (Île-de-France) and the money
If the property buyer is not able to visit the property in Paris-Isle-of-France (Île-de-France) 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 Paris-Isle-of-France (Île-de-France), 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 in Paris-Isle-of-France (Île-de-France) 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 property in Paris-Isle-of-France (Île-de-France) 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 direct flights to four airports in and around Paris (Charles de Gaulle, Orly, Le Bourget and Beauvais) from many major and regional airports in the UK through many airlines. The Eurostar rail service between central London and Paris Gare du Nord takes around 2 ½ hours.

View property for sale in Paris-Isle-of-France (Île-de-France)