Planning on buying a property in France? If you can, buy before the end of this year to avoid the stamp duty rise of almost 15%.
This summer the French government announced that on 1 January 2014 the stamp duty rate (droits de mutation) will increase from the current 5.09% to 5.80%. The increase is said to ‘plug a financial hole that is appearing in the accounts of many departmental councils’.
As an example, if you’re buying a €250,000 property in France on or after 1 January, you’ll pay an extra €1,792 in stamp duty (€14,517 rather than €12,752).
This rise in stamp duty, plus the additional fees to pay of 1-2% of the property’s sale price, will make the extra costs associated with buying French holiday homes some of the most expensive in Europe.
Go to French-Property.com to see a breakdown of the current fees and taxes when buying properties in France.
Published: 26 September 2013