Why are there so many abandoned houses in France? They are mostly old, unrenovated country properties. French inheritance law says that all inheritors have to agree to any sale, and they share in the sale costs and any inheritance tax. All of them.
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Olivier de Lorgeril, chairman of La Demeure historique, credits the upsurge in sales to the houses' expensive maintenance as well as to a shift in generational mindset. The chairman concludes, 'the younger generations are urban. They often want to have international careers and to live in towns and cities'.
Why these properties are so seemingly cheap is obvious to the French: The castles are a money-suck. They demand constant repairs. The lower-priced ones are often located in isolated areas, far from the nearest train station or grocery store. They consume massive amounts of energy.
Fees and taxesThere are no restrictions for foreign investors buying a house in France, even non-residents. All investors need is a French bank account and a valid ID. Besides your deposit, you can also expect to pay notaire's fees.
You will potentially have to add, for example, estate agent's fees (if the sale is concluded through an agent), Notary fees, land registration fees, possibly exchange rate surcharges, loan fees, and lawyer's fees. Be careful not to pay cash to the seller in order that the seller pays lower taxes.
Once you have bought your dream home in France If you would like to relocate to France or visit for longer than 90 days you will require a visa, which is easy to obtain once you are the owner of a French property. You may wish to apply for a Long stay visa valid for residence (VLS-TS).