France always attracts thousands of art lovers, historians and travelers. France is the largest country in Western Europe, where everyone can find something that appeals to him. Here is really a great scope for living. You can enjoy the quiet life in the Loire Valley, or try to unravel the mysteries of Paris. At the same time, real estate prices in France are not really high and living conditions are very attractive.
Convenient laws
France has quite liberal legislation, and the French government does not impose any restrictions on foreigners buying property. Physical and legal persons both can make a deal, of course if they not forget to pay 19.6% of VAT.
France is a country opened to new people and new investments: there is a unique state program aimed to attract private investment in residential real estate, called Leaseback. It is a way to buy a home and at the same time to rent it out at certain state conditions. The choice of property is huge: from a modest studio in Paris to the castle in the Loire Valley. By the way, when buying the castle, you'll immediately get a hotel which brings a decent income.
Pleasant prices
According to expert company Knight Frank, France is experiencing a new surge in popularity. The main reason why citizens of other countries (including Russians) opt for France is a serious decline in property prices, coupled with the availability of mortgage loans.
According to FNAIM, in 2012 the prices of apartments in the country have significantly decreased – by 3.9%. By the end of this year FNAIM experts expect to see an average 5% drop in prices all over the country. Price per square meter fell everywhere excluding Lyon, Rennes and Bordeaux.
Somewhere decline was insignificant, for example in Paris, where fluctuations don't exceed 1-3%. And in regions such as Brittany and Languedoc prices have dropped quite considerably: in some cities, experts note a decline in prices in the range of 7.5 - 10.5%. At the same time, living space, which was acquired on French soil, can be successfully used in both commercial and personal use: in the big cities the demand for rental apartments traditionally several times exceeds the supply.
Of course, the decline in prices, which was observed in the last year is not the only argument in favor of France.
Affordable mortgages
Mortgage rate in France in 2013 has reached a record low 3.3% per annum. Moreover, foreign citizens can get 50% of the property price from the bank. French bank codex ensures the full access to all the information on financial decisions and agreements are detailed, and there are no hidden conditions. In France, banks even have special departments dealing with foreign clients. They give out mortgages on two conditions: first, the purchased property must be on French territory, and secondly, the life of the borrower shall be a subject to compulsory insurance.
Well-developed infrastructure
In today's world, France has a large economic and geographical advantages. Located in the heart of Europe, the country has developed transport links with both close and distant neighbors. France has one of the largest terminal in the world, Charles de Gaulle. Also, the country ranks second in Europe in terms of length of railways and the third (after Spain and Germany), in the number of road.
The twenty first century has long come and France is not far behind it. National environmental programs are working for several years, and €32 billion are invested in the development of the transport network.
European standard of living
High quality of life in France is a recognized fact, the proof of which can be found in every province. List of World Heritage properties located in that country exceeds the limit, and the country has become a stark museum, and keeps up with the times, constantly evolving. So, if you decide to move to Europe or want to successfully invest in real estate, France is what you need.
Text: George Nachkepiya, especially for ee24.com