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PROPERTY

French real estate agents report rush of British buyers ahead of Brexit

Real estate agents have reported a rush of British buyers looking to snap up properties in France ahead of the Brexit deadline of December 31st.

Published: 2 July 2020 16:18 CEST
French real estate agents report rush of British buyers ahead of Brexit
Many British people want to move to France before the end of the year. Photo: AFP

For British people wanting to make their dream of moving to France a reality there is now a deadline looming – December 31st, 2020.

This is the end of the Brexit transition period and marks the last day that British people can benefit from European freedom of movement to start a new life in another country.

After several months of lockdown and travel bans, real estate agents in France say they are seeing a surge of enquiries as buyers look to make the move before the end of the year.

Trevor Leggett, boss of France-based agency Leggett Immobilier, is predicting the company's busiest period in 21 years of trading.

A company spokesman said: “Travel restrictions, due to Covid-19, have meant that there is a huge, pent up demand – Leggett Immobilier has a database of 50,000 buyers eager to move, with 100s of viewings lined up for visitors from the UK.”

And for British buyers, Brexit is an additional factor.

“The Brexit transition period ends on December 31st 2020 and there is a rush to purchase in France before then. 
 
“In reality, this means finding a property and having an offer accepted before September, to give time for the paperwork to be signed and the Acte de Vente completed.
 
“British buyers looking to move to France know that if they get in before the year end they will enjoy the same rights and benefits as those British nationals already living here.
 
“However, once the window is closed these rights are not guaranteed. It is likely that they will need to apply for a long term visa, pass “proof of income” tests, take out additional insurances and not see their pensions uprated.”
 
 
 
 
Rob Longeley of Beaux Villages agency concurred, saying: “Enquiries from Brits barely dipped during lock-down – interest has accelerated as we get ever closer to the end of free movement.
 
“And the 'imperative' of a likely hard Brexit at the end of the year has certainly focused the minds of UK-based buyers.
 
“A property transaction generally takes between 12 and 20 weeks, and so in that sense, to have keys in hand this year, the clock is ticking.”
 
And for people looking for rural property there is now added competition as French real estate agents report a surge in interest from French people looking to move out of the city and into the countryside.
 
The country's strict two-month lockdown perhaps focused people's minds on the joys of having a garden, while the huge increase in home and remote working during the pandemic has made it possible for people to contemplate moving to the country without switching jobs.
 
 
Home and remote working was also a factor for Leggett's clients.
 
“The main demand is for country property, with good broadband and plenty of outside space. The Covid-19 lockdown has shown that people can work remotely so barns that can be converted into a home office are also high on the buyers' wish list,” the company spokesman said, adding:  “We are also seeing a surge in demand for homes that are easily accessible from the UK.
 
“Brittany, Normandy and the départments down to the Charente and Dordogne have always been holiday home favourites and faster TGV routes mean that British buyers have good access by both road and rail – leaving less reliance on flights.”
 
 
But before you rush to buy, you need to make sure you meet the criteria for legal residence in France, as well as checking out the paperwork demands.
 
 
Rob added: “Of course whatever happens, people will continue to buy property in France in 2021 and beyond.
 
“And for owners of holiday homes, there will be some extra paperwork, but we expect the formalities to be straightforward.
 
“There is no need to panic and make a rushed decision.”

 

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TAXES

French property tax declaration deadline approaches

Most people in France should have already filed their property tax declaration, but Sunday marks the final deadline.

Published: 26 June 2024 12:22 CEST
French property tax declaration deadline approaches

Tax declaration season is almost done in France. 

Income tax deadlines have passed, and the final date for submitting the property tax the déclaration d’occupation (sometimes referred to as déclaration des biens immobiliers) is on Sunday, June 30th, at 11.59pm (France time) if you are declaring online.

Everyone who owns property in France, even if they live in another country, should complete the declaration for all properties they own in France, whether it’s their main home, used a second home, or is rented out.

READ ALSO What you need to know about France’s 2024 property tax declaration

It applies to both French people and foreigners. The good news is that this is not an annual task – if you completed the declaration last year, you have nothing to do this year if your situation has not changed.

The form concerns property that you owed on January 1st 2024, so if you have bought a property since then, you do not need to complete the form until next year.

READ ALSO Vocab guide for the French property tax declaration

If you are using the paper form, it must arrive at the tax office by Monday, July 1st. It is advised to send the form by registered mail (lettre recommandé) so you can demonstrate when it was sent.

Failure to complete the declaration by the deadline can lead to a fine of €150 per property, and also to you being sent an ‘estimated’ tax bill, which may be higher than what you truly owe.

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