Secondary residence: the art of living
In France, there are more than 3 million secondary residences, a number that has doubled since 1970 and have never stopped growing, as well as real estate prices have suffered sharp increases.
It is a French peculiarity; 10% of the population have a secondary residence, which sets France on the first place among European countries.
Having your own vacations home has its advantages:Having your own vacations home has its advantages:
- You can take impromptu vacations without having to seek accommodation
- An invaluable for families: children find their beds and their favourite toys, parents know that the place is safe for their children.
- Avoid the effects of the high season, starting on the very first day of the school holidays, where prices increase amazingly.
Having a vacation home is for many a haven of peace, away from the issues of the day-to-day life. For these people this is a priceless luxury ...
In the case of a resale, there are no registration fees, but you will have to pay a tax transfer. For foreign residents, there are two statutes:
- Residents within the EEC, subject to a rate of 19% of the profit
- Residents outside the EEC, submitted at a rate of 33% of the profit, unless there is agreement between France and the country of origin. The agreement reduces the tax to a rate of 19%.