Could this be backpedaling? There is a change regarding the increase in transfer taxes (called “notary fees”). Undoubtedly aware that this one billion euro measure risks hampering the start of the recovery of a still fragile real estate market, Michel Barnier will make a concession on this issue which has caused a lot of talk in the real estate world but also in politics. The Prime Minister announced last week that the ceiling on notary fees would increase by 0.5 points for three years. That is an increase of 1,250 euros for the purchase of housing at 250,000 euros.
In itself, this sum does not weigh much but, for many households, it is the last straw. An increase in notary fees (between 7% and 8% of the sale price, editor's note) comes on top of the surge in property taxes, decided by mayors and the threat of a return of a property tax. 'disguised dwelling. An unbearable tax overflow, particularly for young buyers who, despite the falls in prices and credit rates, still struggle to access property. “Buyers still feel like they have lost purchasing power», entrusts to Figaro Pierre Tarrade, president of the Chamber of Notaries of Paris. And it is therefore not the increase in notary fees which risks improving their situation. Quite the contrary. “This increase is bad news for younger buyers because these fees are rarely financed by banks, underlines Maël Barnier, spokesperson for the broker Meilleurtaux. As the intake is low among the youngest, this will make their first purchase even more difficult!»
The new one will also not be affected
Good news for households buying housing for the first time: the increase in notary fees will not affect them. “It's in the pipeline. First-time buyers often have little or no down payment or savings and will be the most penalized by this measure.“, a government source told Le Figaro, confirming information from the JDD. His predecessor Gabriel Attal wanted to go even further: eliminate notary fees for first-time buyers.
Buyers of new homes, whether first-time or second-time buyers, will also be excluded from the list of people penalized. A breath of fresh air for them, even if notary fees weigh less than for old homes: between 2 and 3% of the sale price. Or 6,250 euros for the purchase of a property at 250,000 euros compared to 18,750 euros for the same accommodation but old. A relief also for the sector which has been plunged, for several months, into a severe crisis. So much so that they have to give discounts or work in…the former.
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