Taxes owed at the closing of a property, income taxes and capital gain taxes are similiar to those in the European Union. An attorney and accountant should be consulted prior to making any purchase decisions.
The transfer tax and notaire fees are roughly 9-11%, there are property taxes (which are difficult to estimate but should be between 1-3% annually) and there is a capital gains tax of 33 ½% payable to the French government on any profits from resale. If you own a property that you use as short term rental property you are responsible for income and profit tax. You can deduct a lot of expenses such as maintenance, insurance, improvements, etc. Obviously, those costs have to be factored in to any investment. The French side will typically involve a requirement of development within 6 months of purchase or additional taxes will apply. This can be a considerable burden to a buy-and-hold land investor or developer buying into a bad cycle, financing negotiations or the like.
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