New build property - buying off plan - South of France

Newly built property, be it an apartment in South France or a villa in Cote d Azur for sale, comes with certain advantages when bought off-plan. The term “off-plan” and “new built” are one and the same. It refers to the property which is newly built or which is planned to be constructed by the construction group. But, one should never confuse them with the term “self-built” as it refers to the land which is owned by a buyer who wishes construct his or her own house on it.

South France is attracting a lot of visitors. On account of this, many investors are queuing up to invest in property in this region. Invest in a new South France villa or buy your own apartment in South France and earn long term revenue and rewarding rental income - is the mantra of many investors these days.

Buying property in South France is increasing among buyers as it comprises of some of the hottest spots in France. Especially, property in Provence is the most sought place by investors. This is because it is a major tourist hub which allures tourists throughout the year through its warm Mediterranean climate and cool pebbled beaches.

New villas in Cote d Azur for sale are sold out in no time as there is a lot of demand for it. Many new properties are built according to the taste of the buyers in Cote D’Azur. One can even design a villa in Cote d’Azur for sale according to one’s own private tastes and interests. You can deck your villa with ‘your-kind-of’ private swimming pools, gyms and spas.

There are many reasons for foreign investors to look for buying off-plan:

• The first and the foremost reason is the low maintenance cost. Being newly built houses, the extra cost incurred for maintaining the Property in Provence is very less.
• The second prominent reason is the option for tourism. Buying property South France is very fruitful as it the vital hub of tourism.
• As most of the European investors are looking at France as their second home, they want their property to be a new one.
• Newly built villa in Cote d Azur for sale has more options for customisation. Extra facilities like swimming pools, golf courses and spas.
• Peace of mind is the ultimate aim of buying newly built properties. There will be more options for safety as these properties are constructed keeping in mind the modern audience.

Foreign investors have to follow certain legal proceedings to buy an apartment in South France or while investing in a South France villa. The legal procedures vary for newly built property and an existing property.

• For example, a villa in Cote d Azur for sale will be considered as newly built when it is less than five years old and has not been sold. An off-plan property which is yet to be built is also considered new. As per the French law, it is known as VEFA (vente en l’état futur d’achèvement) On buying a new property in South France, the buyer has to sign the Reservation Contract, which commits him/her to the act of buying.
• The buyer will be asked to pay 5% deposit even before the contract papers are given to them and is given a cooling period of seven days before committing himself to the purchase.
• VAT should be paid at the rate of 19.6% on the price of a newly built property.