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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 IV
Titre à changer
FRENCH PROPERTY : INFORMATIONS ON BUYERS
IV. Decrease in the period of possession of real property
For more than ten years, the figures of the notaries of France reveal a heavy trend: the period of possession of real property is on the decrease. This is general phenomenon, it concerns all sectors and all socio-professional categories studied.
In 1997, an apartment was sold by its owner after 10 years and 7 months of possession, a house after 12 years and 4 months.
In 2007, an apartment was sold by its owner after 9 years and 2 months of possession, a house after 11 years and 3 months.
Increased geographic mobility, fragility of families (divorces and separation of people living in free partnerships), desire for change (consumerism), but also the desire, like dabbling on the stock exchange to “take advantage” after several years of a price increase, combine to explain a change that seems likely to continue over the coming years. In this respect, the expiry of the retention periods (9 years) imposed on lease property investors by various tax incentive schemes (PERISSOL, ROBIEN, BESSON) could contribute to reinforcing the trend.