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The grand and elegant home of a famous designer
An article that explains the monthly expenses of a high-end apartment in Paris
Many clients often ask us about the cost of owning an apartment in Paris. Roughly speaking, there are four major expenses for holding an apartment: the expenses required for the operation of the apartment itself (property sharing costs, electricity and Internet fees, insurance, cleaning and maintenance costs for the interior of the apartment), major construction costs of the building, and taxes (land tax, residence tax, property wealth tax), and some other expenses (apartment rental management fee, butler service fee).
Today, we will take a high-end apartment of 100 square meters and a value of 2 million euros in the Saint-Germain district of the Left Bank as an example to explain in detail what the daily maintenance of the apartment will cost (do not confuse it with the cost of buying an apartment Oh).
01/ The cost of running the apartment itself
Buying a house in France, whether for investment or self-occupation, is inseparable from the topic of taxation.
Many investment experts were once tax novices and were troubled by the complicated details of taxation.
In order to answer the questions for friends who are just beginning to pay attention to real estate investment, we will make a comprehensive summary of some of the tax issues that people often ask about buying a house in France.
01 When buying a house
As we all know, there will be a notary fee (frais de notraire) at the end of the house purchase transaction.
The notary fee includes the transfer tax to the government, which accounts for about 68%, the various official document fees are about 15%, and there is about 17% of the notary service fee. The notary fee is kept by the notary before the house is handed over. After the transaction is successful, the notary will transfer the tax money to the government.
In France, the notary fees for new houses and old houses are not the same. The notary fee for an old house is between 7%-8%, while the notary fee for a new house is 2%-3%.
Sometimes, when a new house is on sale, developers often offer preferential policies to reduce notary fees: that is, the developer will bear all the notary fees for you.
The specific calculation method of the notary fee can refer to this website:
https://www.immobilier.notaires.fr/fr/frais-de-notaire
02 When the house is owned
In the process of holding the house after the purchase, there will be various taxes such as land tax, housing tax, property rental tax, etc. The property rental income tax varies with personal income and cannot be generalized, so we only pay attention to the land tax (Taxe foncière) and housing tax (Taxe d'habitation) .
