Real Estate

Main nuances of buying apartments in Paris

For many people Paris is one of the places you can dream all your life about. Thanks to God, today if you want to visit this wonderful city there is no any difficulties, all you need is the presence of a certain sum of money. But some people do not want to content with a little and often have a desire to get a Paris real estate. The reasons for this could be different, but possible problems connected with it are common, so we offer to your attention our material on the topic “how to buy apartment in Paris“.

Obviously, Paris is one of those cities on the planet, interest in which will always remain wide, and it means that there will be not only the numerous tourists, but also many people who want to buy a Paris real estate. It is noteworthy that despite the global financial crisis, prices for apartments in Paris are almost at the same pre-crisis level, what demonstrates the huge interest in the metropolis and, accordingly, underlines its investment attractiveness. As ten years ago, Paris remains to be one of the most interesting places for people with an opportunity to buy abroad real estate.

If we talk about residential real estate so in recent years the apartments located in the Paris areas with houses of the old building are the most popular, what connected with not very high cost.

Nowadays the majority of the foreign buyers of Parisian apartments are not wealthy entrepreneurs with business interests in the city, as it may seem at the first view, but the people who are conquered with a banal beauty of Paris. Unfortunately, these buyers are generally focused only on their “romantic” impulses, and they lose the practical aspects. And sometimes buying apartment in Paris without the proper preparation can lead to serious and not very pleasant consequences.

The first, you should always remember about the French tax law, which is very specific in the matters of the real estate deals. Tax and notary fees could amount to 7 percent of the acquired property of five years and older flats. In the new buildings, however, are more “soft” rates (about 3 percent).

Also, people who want to buy apartment in Paris should know that they have to spend on its maintenance in any case. France has an official fortune tax with a progressive scale, however, real estate cheaper than 770.000 euro is not taxed. But there is an imperative property tax, the average rate of which is about 0.5 percent of sales price.

Extra items can be a service of apartments, what depends on several factors (the house is  the architectural treasures or not, age of the building, the availability of parking and safety, public utilities). Usually you’ll spend 200-300 euro for it, including electricity and water supply.

Certain issues can be connected with condition of communications, it happens that they are in a very dangerous condition (especially in the old buildings). But it could be difficult to  identify immediately. In this case, it is very important to have special insurance to avoid troubles, especially if you do not live in the apartment permanently.

If you really love this city and want to buy an apartment in Paris, GlamourApartments will become your faithful assistant in this matter. We are ready to take on all the issues in search of apartments offered on the real estate market of the French capital, to provide legal assistance on all issues, to examine the technical condition of the apartment you are interested in.