Quote:
Originally Posted by SoeurEnFrance
So then, it's less of a, shall i say, stigma......to RENT your entire life in France?If I were to move there I could happily breathe a sigh of relief in renting forever, and never feel pressured to buy? not that i wouldn't buy, just, here you feel like you are going to be some kind of financial failure and mis out on hordes of future money if you don't buy.
do you pay ridiculously less taxes in France as a renter?
thanks!
steph
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Hi Steph,
Loads of people rent, although the proportion of house owners/renters is growing, the rate of growth slackened off when the property market boomed (not to the extent of the US and the UK, but some substantial rises nonetheless). Over here it's harder to get a home loan, the French banks and other lenders didn't take anything the risks the UK/US markets did.
People have slightly different priorities here - mortgaging yourself to the hilt to own a fantastic home and then have next to nothing left to pay the food bills is not their way. Renting is fine, zero stigma attached.
Property prices are flat at the moment, and although not dropping too fast, no likelihood of any recovery for a while yet I reckon. Who knows when the best time to buy is though - if I did I would be a multi millionaire by now
As for rentals, depending where you are they are not so cheap. A few examples I know about - a three bed 100m2 apartment in a popular town in the Savoie Alps is about 900 euros a month, for example. A small studio apartment, 23m2 in the same town... 300 euros pcm. Out in the sticks in the Vaucluse (near Avignon in the south) the same 100m2 apartment would be 100/150 euros pcm less. A big 5 bedroomed, 3 bathrooms apartment in a farm here in the Vaucluse, with some land - rented out for 1250 euros pcm.
Then on top of that you have monthly heating/electric/water bills and taxes if it is your permanent residence (ok some rentals include all of these, but the rental rate is increased accordingly).