{"id":933625,"date":"2022-08-23T13:01:42","date_gmt":"2022-08-23T11:01:42","guid":{"rendered":"https:\/\/www.carlton-international.com\/?p=933625"},"modified":"2023-06-26T13:00:41","modified_gmt":"2023-06-26T11:00:41","slug":"buying-on-the-french-riviera","status":"publish","type":"post","link":"https:\/\/www.carlton-international.com\/en\/buying-on-the-french-riviera\/","title":{"rendered":"A Guide To Purchasing A New Home On The French Riviera"},"content":{"rendered":"

Are you looking at Buying A New Home On The French Riviera? Or<\/span><\/span>\u00a0investing in a new project<\/span><\/span>? <\/span>In this article, we’ll discuss why you should consider investing in a new property purchase in 2022.<\/span><\/span><\/h1>\n

 <\/p>\n

Buying A New Home On The French Riviera<\/h2>\n

It is important to remember that investing in a <\/span><\/span>new property development<\/span><\/span><\/strong> program has many advantages! <\/span>Including exemption from property tax, developer and manufacturer’s guarantees, a <\/span><\/span>large VAT reduction<\/span><\/span><\/strong> and energy savings. <\/span>It is an investment program that is highly sought after by investors – thanks to benefits such as the <\/span><\/span>Pinel law<\/span><\/span><\/strong> tax exemption and economic and ecological advantages. <\/span>For this reason, the new development market is booming in 2022! There are so many advantages of Buying A New Home On The French Riviera.<\/span><\/span><\/p>\n

Tax benefits<\/span><\/span><\/strong><\/h4>\n

With the new real estate development scheme, you can enjoy tax exemptions on your investment income. <\/span>The Pinel law offers a tax deduction of 12-21% on property prices for 6, 9, or 12 years of rental. <\/span>The Censi-Bouvard law allows VAT recovery and an 11% tax reduction over 9 years for furnished rentals.<\/span><\/span><\/p>\n

A Reduction Of Notary Fees<\/span><\/span><\/strong><\/h4>\n

Registration fees (notary fees\/stamp duty) for old real estate are typically 6-7% of the property price. <\/span>However, for new real estate, the tax is only 2-3% of the house price.. This can indeed make you benefit from a reduction of thousands of euros. <\/span>Finally, note that the buyer of a new home will be exempt from <\/span><\/span>property tax<\/span><\/span><\/strong> on this home during the first two years.<\/span><\/span><\/p>\n

Security<\/span><\/span><\/strong><\/h4>\n

If you choose to invest in a <\/span><\/span>new real estate program<\/span><\/span><\/strong>, will benefit from the latest energy innovations and acoustic insulation. <\/span>A new home means that renovation work is not required – and you are unlikely to acquire any unpleasant surprises. <\/span>The ten-year guarantees and insurances provided by the developers help to secure the future of the home.<\/span><\/span><\/p>\n

Buying “off-plan” or under construction (VEFA) raises concerns about project completion. <\/span>Fortunately, neither the developer nor the notary can finalize the sale without prior buyer protection. <\/span>This protection is guaranteed by a bank or insurance company, ensuring the completion of the work as described in the plans and contracted services.<\/span><\/span><\/p>\n

Developers can make modifications to the interior plan to suit the needs of the buyer – often without significant additional cost.<\/span><\/span><\/p>\n

PRICE PAYMENT SCHEDULE<\/span><\/span><\/strong><\/h4>\n

The promoter can market his pre-planned project as soon as the building permit has been received. <\/span>He can’t cash money but can accept a reservation with payment to a secure escrow account held by a notary. <\/span>The reservation is binding for the developer but not for the buyer, who can withdraw before signing the sales agreement and within 10 days after. <\/span>Additionally, the developer can’t access the funds in escrow until obtaining the construction completion guarantee.<\/span><\/span><\/p>\n

Once the final agreement has been signed, the price will be paid as the <\/span><\/span>construction progresses<\/span><\/span><\/strong> and is approved by the architect. <\/span>This is a great advantage because, throughout the construction, part of the final price remains in your hands until completion. <\/span>The balance is due upon receipt of the property – following a physical check by yourself of the property yourself.<\/span><\/span><\/p>\n

PRICE EVOLUTION DURING CONSTRUCTION\u00a0<\/span><\/span><\/strong><\/h4>\n

One of the <\/span><\/span>great advantages<\/span><\/span><\/strong> of an off-plan acquisition lies in the <\/span><\/span>evolution of the prices<\/span><\/span><\/strong> of the units for sale. <\/span>Given the definition of the sale price at the time of booking, the price confirmed and contracted by the purchaser remains fixed until delivery. <\/span>As the marketing progresses, the units are and the <\/span><\/span>promoter<\/span><\/span><\/strong> begins to bring in the funds to advance the work and the financial security of the operation is established. <\/span>It can then be decided to increase the prices of the units remaining for sale. <\/span>These increases are normal and allow the promoter a better return on his investment.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Are you looking at Buying A New Home On The French Riviera? Or\u00a0investing in a new project? In this article, we’ll discuss why you should consider investing in a new property purchase in 2022.   Buying A New Home On The French Riviera It is important to remember that investing in a new property development […]<\/p>\n","protected":false},"author":3,"featured_media":931304,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-933625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classifiee"],"acf":[],"yoast_head":"\nBuying A New Home On The French Riviera | Carlton International<\/title>\n<meta name=\"description\" content=\"Buying On The French Riviera! 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