French property market – uncertain times!

There is a demand in the marketplace for quality property both for sale and rentals, but as always, this is subject to the location. The marketplace currently has certain properties where payments were made during the Covid-19 pandemic, and for which tenants are now using their deposits or payments from two years ago. This sometimes complicates the commercialisation of new available for-rent properties. However, there is a demand in the marketplace as hotels continue to be highly sought after.

From a sale point of view, the sector of the market and location has an effect on demand. Certain properties have been selling quickly and others much slower. Banks are concerned about the source of funds for buyers and sellers. Over the last few years, compliance obligations have hardened considerably. Certain clients in the Russian community have had their bank accounts closed or frozen across Europe. This obviously creates problems for these individuals in pay their bills. In addition, on a sale or purchase, it has become more complicated to pay or receive money. On selling a property one may need a fiscal representative.

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Photo: Uwe Rieder