Buying or selling a property in France?

Find the right person to help you through your dealings through the Directory of Notaries

You can now consult for free this directory to find a notary anywhere in the EU who speaks the language of your choice. this directory gives you access to a list of 40.000 notaries with their contact details and the languages they use.
Great tool for buyers and sellers who need to feel confident in dealings of such important nature.
For more information, consult www.annuaire-des-notaires.eu

A bientot
Team Lucke Immobilier

Property price in France: map of square meter prices

Want to find out more about property price in France?


www.meilleursagents.com have just published a map of France showing property price per square meter in France, per region and departements. 


You can see the Alpes Maritimes below:

Source : Prix immobilier m2 par MeilleursAgents.com

For more information on the whole of France, go to http://www.meilleursagents.com/prix-immobilier/

A bientot
Team Lucke Immobilier

FRENCH TAX SYSTEM - What’s ahead in 2012

New tax measures regarding inheritance and savings for French people as well as foreigners will be implemented as early as 2012 by team "Hollande". All these measures have been raised by Francois Hollande in his project and will be effective only when voted... but, as the saying goes, forewarned is forearmed!

French wealth tax (ISF) - Restoration of the former schedule by 2012.

- From last year onwards, individuals whose net assets valued between € 800 000 and € 1.3 million have been exempted from paying the ISF.

- This € 1.3 million limit will remain in the future.

- However there are plans as early as this summer to restore the former wealth tax schedule as follows:

Net assets > € 1.3 m	ISF rate in %
€ 800 000 to 1.3 m	0,55
€ 1.3 to 2.5 m	0,75
€ 2.5 to 4 m	1
€ 4 to 7.6 m	1,3
€ 7.6 to 16.5 m	1,65
Above € 16.5 m	1,8

- This tax applies as much to the French on all their assets than to foreigners holding assets in France such as real estate.

- Example of calculation for a taxpayer with a patrimony of € 2 m : € 2 750 on the first tax bracket and then € 5 250 on the second making a total of € 8 000 as opposed to the current schedule which would total € 5 000 of wealth tax or 0.25% of € 2 m.

Inheritance tax

- Reduction of the inheritance allowance to € 100 000 per child (as opposed to € 159 326); policing of the surviving spouse’s exemption. A couple with two children would only benefit from € 400 000 in tax exemption as opposed to € 637 304 currently.

- Furthermore, the tax exemption period between two donations would go up to the 15 year mark.

Dividends

- Shareholders may opt in now for the dividends’ 21% flat withholding tax although the new tax law should tax them through the income tax progressive schedule in the future.

Life insurance contracts

- New contracts entered into from end of June 2012 would be taxed through the income tax on withdrawals made before the 8 years’ threshold.

- Currently, you can still benefit from the current tax rates (income tax or flat withholding tax) to which 15.5% of social security contributions are added 

Real estate

- The current capital gains tax on French real estate, which also affects foreign tax residents, should be abandoned in favour of a system implemented before 2004, namely the capital gains exemption for property held for at least 22 years (currently 30 years) with a 5% allowance on the capital gain amount from the second year the property is held. The taxable capital gain would be taxed on the income tax progressive schedule.

- It is possible that this new system, which could come into effect from August 2012, is more advantageous than the current. It is therefore preferable to calculate your taxation before going to the Notaire!

The candidate François Hollande, now President of the French Republic, could implement these measures with the support of a majority in the National Assembly whose deputies are being voted in June 2012...to be continued!

A bientot

Team Lucke Immobilier