The purchase of property has for decades been an ideal way for investors to diversify, protect and grow their portfolios. Real estate has always been an important segment of any investment portfolio however before a purchase is made, one should be well versed in the laws and regulations of the country in which the property is located.
With 40-50% of buyers along the French Riviera being non-resident, it is evident that the need for internationally targeted expertise pertaining to French property purchases is in high demand.
We have asked our trusted independent mortgage advisor Liam Wilkinson of Enness Global Mortgages to answer a selection of frequently asked questions, in order to help you better navigate the purchase and financing of a property in France.
Pick your investment team wisely and ensure that it not only works well but that everyone is on the same page.
Choose an agent whom you trust to find the best deals.
Use the services of a Mortgage Broker to prepare your financing so you are comfortable with your budget before viewing properties. It is certainly comforting for any seller to hear that the client is pre mortgage approved.
Use an internationally minded Notaire who can answer all of your pertinent non-resident questions.
UHNW clients and entrepreneurs understand that cash is king when exploring new investment opportunities anywhere in the world.
A mortgage provides day 1 leverage secured against a luxury asset which clients can access with extremely low interest rates for up to 25 years.
The domestic market is strong. Do not risk losing your dream property by negotiating too hard.
Remember the Notaire fee - circa 7% (this is always a surprise to non residents).
Keep in mind the importance of different holding structures when purchasing a luxury property - personal name, SCI and SARL.
Employ the services of a Tax Consultant for property wealth tax.
Choose an estate agent you trust and with whom you share a good rapport.
The areas of most interest to my clients include: Eze, Beaulieu-sur-Mer, Cap Ferrat and increasingly Roquebrune Cap Martin for Monaco residents. There is currently great value in Cap Martin.
For more information about French Mortgages or to organise a personal consultation with Liam to discuss your financing options, please contact [email protected]