La Petite Niçoise is a bright, happy, well located "petit" studio especially designed for the single traveler. The apartment is on the 5th floor of a classic Art Deco building and you will immediately be impressed by the beautiful view of Nice as you exit the elevator. Located in the popular Quartier des Musiciens, it's convenient to markets, the shopping district, the Nice Ville train station and Nice Tramway, and still just a few blocks walk to the beach and Mediterranean.
To book a Paris apartment for a visit in the City of Light on your way to Nice, visit Parler Paris Apartments to view our full selection.
FREE one-hour consultation! Guests of Parler Paris Apartments or Parler Nice Apartments who are considering the purchase of their own "pied-à-terre" for pleasure and profit, can take advantage of a free one-hour consultation while enjoying the apartment in the City of Light or on the Riviera. Simply complete the request form to book your consultation.
Bonjour French Property Insider Subscriber,
Restaurant Il VicolettoI had a really good excuse to come to Nice this time -- the signing of the deed of an apartment by one of our clients making an investment purchase.
The apartment just happens to be steps away from my own apartment in Nice (Le Matisse) in a building that houses one of my favorite restaurants, Il Vicoletto...by sheer coincidence.
The timing of the signing of the Acte de Vente (final deed) was crucial to the seller, because the 'special discount offer' made by the government of 25% off the capital gains tax and social charges, was only good through sales closing as of August 31st of this year. Everyone had to make special provisions and jump through a series of hoops to accommodate the seller's wish to sign the Acte de Vente before the end of August for this reason.
The tram at Place MassenaWhen I asked him how much money was concerned, and he answered with 2,500€, it was all I could do to keep from laughing. On a sale of 265,000€, 1% hardly seemed worth all the effort, so we were able to negotiate a 'deal' whereas if the buyer could not meet the deadline, for some unforeseen reason (like delay in getting financing, etc.), the buyer would cover the cost of the tax. The risk for the buyer was low -- it was simply 'insurance' to facilitate the purchase with no further argument. The seller was pleased and as we expected, the sale will take place as planned with no expense to the buyer.
Capital gains taxes are imposed on the sale of secondary residences, but the sale of your primary residence in France is not affected. French residents pay capital gains tax on all of their secondary property holdings beginning at 34.5%, and at 33.3% for non-European Union tax residents, then and on top of that, 15.5% social charges are imposed, making the tax as much as 48.83%. A "taper relief system" is in place so that the longer you hold the property, the less tax you pay. Full exemption of tax is achieved at 22 years of ownership, while you must wait the full 30 years to be free of the social charges.
View of Nice from the Monastery When the laws were changed over the past several years, the results were adverse to the market, hence the reason for the 'discount' of 25% granted this past year to help boost sales (and it worked with increased sales reported this past year). Until February 1st, 2012, exemption from tax took place over a 15 year period, then it was changed to the current regime of 30 years. The social charges were added in January 2013.
And as we have watched, the tax laws have changed rapidly with different administrations, so therefore it is highly likely we will see them change again! Stay tuned!
Table: Capital Gains Tax Allowances for Duration of Ownership
Ownership Period Capital Gains Social Charges 1 through 5 years Years 0% 0% 6 Years 6% 1.65% 7 Years 12% 3.30% 8 Years 18% 4.95% 9 Years 24% 6.60% 10 Years 30% 8.25% 11 Years 36% 9.90% 12 Years 42% 11.55% 13 Years 48% 13.20% 14 Years 54% 14.85% 15 Years 60% 16.50% 16 Years 66% 18.15% 17 Years 72% 19.80% 18 Years 78% 21.45% 19 Years 84% 23.1% 20 Years 90% 24.75% 21 Years 96% 26.40% 22 Years 100% 28% 23 Years 37% 24 Years 46% 25 Years 55% 26 Years 64% 27 Years 73% 28 Years 82% 29 Years 91% 30+ Years 100%
A view of Nice Old TownWhile this outline seems straightforward and simple, the tax laws are not, so it is always best to get advice from a Notaire, accountant or tax attorney to determine your tax responsibilities before purchasing or selling a property in France, and keep in mind that 'nothing is carved in stone!'
Special note: On September 16th, I'll be back in Nice and hosting a "mini-conference" to talk about living and investing in France -- and particularly life on the Riviera. This is an opportunity to learn how to own a "pied-à-terre" of your own on the Riviera, in Paris or a home in the countryside that you can enjoy when you want...or profitably rent when you like...or just make a smart investment by owning property in France...plus ask all the questions you've ever wanted to ask of...me!:
Living and Investing in France Mini-Conference: Nice and the Côte d'Azur The Mini-Conference Tuesday, September 16, 2014 6:30 p.m. to 9:00 p.m. The Hotel Ellington 25 Boulevard Dubouchage, Nice, 06000, France
For more information and to register in advance (at a savings), visit our conference page.
P.S. Guests staying in any of our luxurious Parler Paris Apartments or Parler Nice Apartments who are considering the purchase of their own "pied-à-terre" can book a FREE one-hour consultation with me. Simply fill out our Consultation Request Form and we'll schedule a meeting in person or by phone/Skype.
Own a Piece of Paris.
Fractional ownership is the hottest way to own your piece of Paris simply, easily and inexpensively! Here is one of the offerings available through French Property Fractional:
The Ile de la Cité is where life in Paris began centuries ago, centered around one of the world's most important cathedrals, Notre Dame. Just a few steps away is this old-world elegant studio apartment with windows providing a perfect and beautiful view of "Our Lady."
"Le Notre Dame" has been entirely restored to include its original centuries-old wood beams, fireplace and antique touches. Shares begin at as little as 14,900€ per two week share and are sold as two two week blocks.
For more information on this and other fractional ownership properties now available, or to learn how you can design your own property, visit French Property Fractional.