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How can a foreigner buy a house in Provence?

How can a foreigner buy a house in Provence?
In 2011, the real estate market of Provence is booming. And even the fact that inexpensive houses sometimes have to sell for 4-6 months, does not bother experts. In their opinion, for the provincial real estate market this is quite a normal time.
The prices for real estate in Provence, despite their insignificant decrease in 2010, remain very high. The cost per square meter of housing in the region ranges from � 2,5 thousand to � 10 thousand. The cost of village houses without plots of land is about � 300 thousand ($ 425 thousand), while the price of a cottage with a garden or terrace can reach up to � 700-800 thousand, writes the New York Times.
Most of the quality villas in Provence are estimated at & euro; 1-2 million, and only occasionally buyers pay more than � 7 million for housing in the region, say realtors.
About 40% of all property buyers in Provence & ndash; Foreigners. Most of them are citizens of Northern Europe: Belgium or Britain. Also, real estate in this French province attracts customers from America, Australia, South Africa and New Zealand. And in the picturesque region of Luberon, representatives of the colder regions of France hold their rest.
There are no restrictions on the acquisition of real estate by foreigners in Provence. However, there are several differences in the transaction. In particular, taxes on income from sales vary depending on which country the owner lives in, whether it is the first house or the second, and also how long the seller owns the house.
The related costs when making a transaction with real estate in Provence are quite high - they are 6-7% of the price of the property. This includes notary fees.
In France, the asking price for an object usually includes a commission of the agent, which is 5% of the value of the object. In addition, in Provence, one agent controls the entire sale process, unlike other countries, where each side hires its own broker.
The annual cost of maintaining a property in Provence is about � 3.6 thousand, according to realtors.
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in other countries.
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