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11-08-08 - The resale market: an increasingly diverse and active market
After the significant fall seen in late 2008 and in the first half of 2009, the sales volume for resale properties in France as a whole has risen steadily since and reached 806,000 between April 2010 and March 2011.
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Appointed by the State Minister of Justice, the civil law notary is responsible for the legality of official documents. He can enforce the deeds he draws up and play the role of an arbitrator who, impartially, and under strict observance of the law, enables the parties to reach a mutually acceptable agreement.
Informations on buyers III
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FRENCH PROPERTY : INFORMATIONS ON BUYERS
III. Disparity of budgets invested depending on the geographic origin of the buyer
The figures of the period studied confirm the earlier observations.
Depending on whether the investor invests in his/her original geographic group (Province/Paris Region/Foreign) or not, there are disparities in type of property and the amount of capital invested in the purchase of real property.
This is particularly the case for the purchase of old apartments in Province. On average “the person from the provinces” buys an apartment of 59 square metres for € 119,800.
The “Paris region resident” buys on average an apartment of 47 square metres for € 121,000 and the non-resident buys an apartment of 44 square metres for € 160,000. In other words, the budget that the “Paris region resident” devotes is 26% higher and that of the non resident 79% higher than the “person from the provinces”.
The above observation also relates but to a lesser extent however to the purchase of old houses in the Provinces.
The real property investment illustrates the disparity in spending power, which is not really surprising.