25 Comments

Great information! Thanks and I will airbnb rather than deal with all the headaches!

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That's often the way to go if you're just planning to come once in a while and don't want to be an owner. Just be aware that the city of Paris has tightened rules and restrictions on short-term rentals. This site lists information on which hosts have the most listings (some bigger companies have been posing as individual hosts and people are arriving and finding they can't get help from the 'host' if they need it) http://insideairbnb.com/paris

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Sep 28, 2022·edited Sep 28, 2022Liked by David Lebovitz

What an interesting podcast. Thank you both for giving us the details on apartment buying in Paris.

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Sep 28, 2022Liked by David Lebovitz

You are a very good interviewer. I learned a ton. One thing I found interesting talking to a friend who sells real estate in France is the HOA fees and the taxes on apartments. If I understand correctly, they are not nearly as high as in the USA? Maybe you can do another podcast on how these fees work?

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Thanks Jessica! Someone asked about those in the comments earlier and I put a link to how property taxes are calculated in France, and homeowners fees depend on the building, how much work it needs, if there is a guardienne, the utilities, etc. (In a city like NY, the HOAs are usually very expensive if it's a doorman building, but those are very rare in Paris...in fact, I don't think they even exist.) The taxes are much lower than in the U.S., depending on the U.S. city, but other taxes are quite high so I guess it evens out ; )

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Thanks! I'll take a look at the link!

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Sep 28, 2022Liked by David Lebovitz

Wonderful, as a real estate broker in the US of 40 years, and a francophile who has of course thought about having a Paris apt, this was great. But man, that issue of no centralized MLS is a bear!

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Yes, it makes looking for an apartment very difficult since you literally need to search various websites, contact different real estate agencies and agents, etc. and even then, many places sell without ever being advertised as people want to bypass using an agent and paying their fee. (In many states in the U.S., the agents do a lot more than in France since they take care of contracts and paperwork whereas in France, once the deal is signed, everything is handed over to the notaire.) Fortunately in the last few years a couple of websites have sprung up that have better listings and the agencies have VASTLY improved their marketing, photos, and service.

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Sep 27, 2022Liked by David Lebovitz

Thank you , so interesting to see the differences between sellers and buyers in France.

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David…. You are the BEST interviewer….and you have such interesting topics…. I love learning new things…. Especially about Paris…. I look forward to everything you do for us followers!

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Sep 27, 2022Liked by David Lebovitz

Great podcast. I’d also be interested in learning about the holding costs of real estate in Paris. Real estate taxes? Monthly common area charges per square meter? Hidden costs that one never thinks about?

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Common charges are determined by each building since some buildings have common electricity, get cleaned well, are maintained, while others aren't, so those can really vary. France had two "property" taxes - which were recently rolled into one to alleviate some paperwork. There's some info here about how they are computed: https://franceintheus.org/IMG/pdf/impots_locaux_residents_nord_americains_in_english.pdf (but the info is rather complicated, at least to me!) But in general property taxes are low in France compared to America, but other taxes are higher.

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Wow! Never heard of the residence tax. Thanks for this information.

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The residence tax(es) are similar to property taxes in the US. There used to be two, but they rolled them into one to cut down on (some) administration.

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Oct 8, 2022·edited Oct 8, 2022

I'm going to try to figure out how to get more in depth information on amount you need to pay in tax as a retired American expat renting or owning...right now it's hard to decipher that information.

I may ask one of the agents. I guess they also are a rental agency...renting might be a good way to dip one's toes into living there and purchasing a place.

All interesting to find out about.

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Bonjour, David - I enjoyed this podcast very much and what a wonderful advocate Miranda must be. Just a comment on American real estate, having bought and sold several properties in the Bay Area and here in the PNW, I have always felt that the buyer has the upper hand. All the “bartering” on house sales seems orientated towards getting the seller to take the lowest price. Just my impression with my experiences. Thanks for another wonderful podcast.

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It's hard to say in France but buying and selling here is sort of the opposite than in the US because even though the seller engages the real estate agent, the buyer pays their entire fee, as well as the considerable taxes and notaire fees. I know in the Bay Area it's common to get multiple offers but unlike the U.S., if someone offers the asking price in France, the owner is obliged to take it, which isn't super advantageous to the seller, but at least for buyers there aren't bidding wars (at least like there are in the Bay Area!)

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Bill 5 in Québec: As of June 10, 2022, brokers will be prohibited from representing both a buyer and a seller, or a lessee and a lessor, in a single transaction involving a residential building. A single broker will therefore no longer be allowed to represent both parties in a transaction. Ending double representation is aimed at ensuring that buyers are treated more equitably in an overheated real estate market.

We’re trying!

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It's kind of discouraged in the U.S. to use the same real estate agent for the buyer and seller but interesting that Canada (or Montreal) made it illegal. I guess there is the potential for things going the wrong way for one party. In France, since buyers don't usually have agents - unless they hire a search agent - and pay for it, you kind of have to rely on the seller's buyer to handle the transaction but in France, each party can choose their own notaire, the legal entity that oversees the sale.

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Sep 27, 2022Liked by David Lebovitz

Miranda was in charge of my sale when I bought 19 years ago. She did not have her own company then. She was amazing! Honest and hard working. I have recommended her to many friends looking to buy in Paris. Gr8 interview!

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Thanks and glad you not only enjoyed the podcast, but you were happy to work with her. She's quite a force and the way apartments are bought and sold in Paris is different than elsewhere, so it's good to have someone like her on your side to navigate!

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deletedSep 27, 2022Liked by David Lebovitz
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Yes, there are several other outfits in Paris that search for apartments (and as you say, some are better than others...and some are worse!) Miranda does a very good job and her team is really on top of things.

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Absolutely.. she is a cut above but unfortunately, I don't know her team. I am from too long ago but everyone I have sent to them has said very nice things about the team.

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Sep 27, 2022Liked by David Lebovitz

Such an interesting podcast. Thanks to both of you.

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Sep 27, 2022Liked by David Lebovitz

Yay. Thanks!

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