Buying Guide Details

Buying Property in Rhone-Alpes

Where to buy property in Rhône-Alpes

This large, mountainous region is one of the most expensive property hotspots in France. Skiing, sports and scenery bring millions of tourists to the area every year and property buyers want to live here for the same reasons. High prices for properties in the Cote d’Azur, to the south, have also driven property prices up here.

The regional capital is Lyon, the third largest city in France, a commercial and culinary centre with great connections to Europe and the rest of France. Like Paris, it is split into districts called arrondissements, each with its own character. Check out the amenities and qualities of a district before buying property there. To the north of the city, the area around Villefranche-sur-Saône in Beaujolais country is also in demand an expensive.

The lower hills of Drôme and Ardèche départements in the southwest, for example around Valence, have an appearance and climate more associated with neighbouring Provence, though property prices are cheaper here and there are few overseas property buyers at present. Golf (there are nine courses in the area) and sports tourism might change that soon, though.

Grenoble is at the gateway to the Alpine resorts in the east of the region. A modern university city in its own right, it is considered the capital of the French Alps, from where such well-known resorts as Villard-de-Lans and Val d’Isère can be reached. A massive tourist industry is great news for those looking for rental returns on their mountain property.

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The Process of Buying Property in Rhone-Alpes

Once the property buyer has found a property in Rhone-Alpes 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 Rhone-Alpes (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 Rhone-Alpes and the money
If the property buyer is not able to visit the property in Rhone-Alpes 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 in Rhone-Alpes 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 Rhone-Alpes, 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 Rhone-Alpes 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 Rhone-Alpes usually includes 19.6% IVA, but always verify this from the start
If property in Rhone-Alpes 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

Lyon is the international airport for the region, located towards the north. There’s no international airport in the south of the region. Geneva (Switzerland) and Turin (Italy) are possible alternatives to reach some of the Alpine resorts.

Lyon can be reached via the high-speed train (TGV) link between Paris and Marseille.

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