French Properties

Time to embrace the new? The advantages of VEFA 

Buying off plan in France is known as VEFA (vente à l’état future d’achèvement.) It can offer buyers many advantages and is of particular interest to those wanting to make a property investment. It’s also becoming popular is it’s an energy-efficient and form of ownership.

New-build developments are often built in the prime positions, so they appeal to many buyers, whether it’s close to the beach, or the ski lift. Created with the latest construction methods, they are designed for modern lifestyles, in terms of layout and features. When you buy one pre-construction, you can often make tweaks and also choose your tiles and flooring. Think of it as creating your own ‘personalised show home’ or a ‘blank canvas’.

More eco-friendly construction means that running costs can also be lower for the owner, not to mention removing maintenance issues. Then there’s the cost aspect. The notary fees can be as little as 3 percent rather than 7-8 percent on a resale property – and it can be possible to get the 20 percent VAT back if you rent out your home and offer ‘hotel services’. Couple this with the fact that slick, new apartments on modern developments are often highly attractive as rentals and you can be looking at an ideal investment. The buying process is a little different to a resale purchase, but the buyer is protected throughout.

Sound tempting? Find out more here!