New build properties in France
Find your ideal new build property in France with Leapfrog Properties
Leapfrog Properties have a large number of new build off-plan property developments in France which are very popular as holiday homes or for investment.
Advantages of buying an apartment or villa off-plan
- Built to a guaranteed high technical standard conforming with current building regulations
- Any structural faults discovered are repaired and paid for by the insurance company (ten year guarantee)
- All new build developments in France are required by law to have a build guarantee from a bank or insurance company before any money is taken by the developer. This ensures that come what may, even if the developer goes bust halfway through the build your property will be finished to spec so you have no possibility of losing your money or being stuck with a half finished apartment or villa.
- Notary fees are only 2%-3% of the sale price
- You can choose the décor to suit your taste before it is built
- You can often choose from a variety of floor plans to suit your style
Often guaranteed rental agreements can be made, but if not to your liking they are very easily rented out independently. Often, buying a new build property in France is fairly hassle free - there is always a management company in charge of the day to day running of the development from minor repairs to mowing the lawns and cleaning the swimming pool. The apartments or villas are usually very easy to rent out as they come ready to move into in typical touristy destinations hence benefiting from the holiday rental market. VAT at around 20% is payable but included in the price you see.
Payment and construction schedule
Buyers of new build property in France are well protected within the contract and will only pay when certain stages are complete. It is common to only pay a 5% deposit on signing the preliminary contract compared with the usual 10%. After the deposit, the first payment of 25% is usually paid once the foundations have been laid - at which time you will have to sign the “acte authentique” making you the legal owner of the property and pay the notaire fees of about 3%. Further payments will follow as each stage is completed until 95% has been paid. You will then be able to view the property once completed and pay the remaining 5%. New build properties in France are generally sold six months or so before construction begins possibly with the remaining few being sold during construction so there is usually a good 18 month wait. This is of course subject to delays either through weather or delivery problems but once the foundations are laid and the “acte authentique” (final contract) signed then you will be given a specific quarter in which it shall be finished.
Check out our selection of New Build Property in France.
Email or call us on 00 44 (0) 203 59 77 030 with any questions.