When you are ready to start looking for houses for sale in France it is important to know what tax incentives are out there in order to make the smartest financial decision possible. According to Propertywire.com, the French government recently announced the capital gains tax exemption law is reduced from 30 years to 22 years. In other words, you must own your home for at least 22 years before you can be exempt from the capital gains tax. The law was raised to 30 years from 15 years in early 2013, causing an outrage from the real estate industry.
The French government agreed to lower the capital gains tax exemption law to 22 years in an effort to attract foreign buyers and investors. In the United States, a year limit exemption does not exist but homeowners can exempt up to $250,000 profit from the sale or $500,000 for a married couple. As an additional incentive, the French government decided to provide an extra 25% discount on any sales starting September 1, 2013 – August 2014.
While France may not have visa or resident incentives in place, the capital gains tax incentive really does help when you pair them with historically low mortgage rates and low pricing. It is clear there has never been a better time to buy the home of your dreams in France! Whether you are looking for Paris apartments for sale or a French Riviera property, Handsome Properties International has the expertise to make the buying process smooth and seamless. Contact us today at international@handsomeproperties.com or visit our website at www.handsomepropertiesinternational.com to view all of our current listings in France.
