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Currently exempt from real estate capital gains tax, the sale of a primary residence could become taxable. A newly passed amendment aimed at combating speculation ties the exemption to a minimum holding period. Current Rules on Real Estate Capital Gains for Individuals A capital gain arises when the selling price of a property exceeds its purchase price. Such gains are subject to two types of taxation : - Income tax, at a rate of 19% ; - Social contributions, at a rate of 17.2%. This totals...
The Senate has given its final approval to a proposed law aiming to better regulate the short-term rental market. The law is set to provide new monitoring tools for mayors and align rental obligations with those of long-term housing. The text, refined by the mixed joint committee, now awaits a vote by the National Assembly. Eighteen months after it was introduced, the lengthy journey of this law proposal, intended to strengthen local regulation of short-term rentals, is reaching its conclusion....
Between the signing of the preliminary sales agreement and the final deed, the buyer has the right to request a revisit of the property. This visit is strongly recommended. Organization, key points to check... Here’s everything you need to know about the courtesy visit. What is the purpose of the final visit before the notary meeting ? If you have signed a preliminary sales agreement and obtained your mortgage, the time to sign the final deed with the notary is fast approaching. However, just before...
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