Buying Guide Details

Buying Property in Picardy (Picardie)

Where to buy property in Picardy (Picardie)

This northern region has not been high on the overseas property radar, but with a climate and landscape not dissimilar to neighbouring Normandy, property buyers might be tempted to a rural getaway here. Property prices tend to increase the further south you go, towards Paris, but there are inexpensive renovation properties in Picardy’s expansive countryside that are ripe for investment by intrepid property buyers.

Golf is popular in the region, with more than 20 diverse courses here. Anyone looking to purchase a property in Picardy (Picardie) which is in easy reach of a golf course is spoilt for choice in Picardy, from Abbeville in the north to Chantilly in the south. Historic towns such as Amiens and Beauvais are all very well connected as they are directly on the route from Paris to the Nord-Pas-de-Calais region.

Outdoor pursuits, such as walking, cycling, horse riding and fishing are the best way to make the most of the area’s great natural landscape. There are protected areas with plentiful wildlife, marshland and forests, waterways and a short coastline – a property in the country will never be far away from nature and prices here are very reasonable.

Many and various transport connections to airports, roads and the coast mean that a property in Picardy is a very appealing prospect. Though not as well known or fashionable as some of the resorts in its neighbouring regions, property buyers should not ignore the area if they are looking for great value for money.

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The Process of Buying Property in Picardy (Picardie)

• Once the property buyer has found a property in Picardy (Picardie) 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 (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 property buyer loses both the property in Picardy (Picardie) and the money
• If the property buyer is not able to visit the property in Picardy (Picardie) 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 Picardy (Picardie), 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 Picardy (Picardie) 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 Picardy (Picardie) 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 some direct flights to Beauvais airport from tht UK. The southern part of the region is in easy reach of Paris Charles de Gaulle airport. Ferry links and road/rail connection via the Channel Tunnel are the most flexible and popular way of getting to the northern part of the region.

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