Advantages of New Developments

Introduction

Welcome to an insightful exploration of the French Riviera's new build properties, a realm where luxury meets practicality. This article unveils the numerous advantages of investing in this prestigious region, from state-of-the-art living standards to attractive financial incentives. Ideal for discerning investors and lifestyle seekers, we illuminate the aspects that make these properties not just homes, but wise and lucrative investments in France's vibrant and ever-evolving real estate landscape.

Advantages of New Builds in France

• Enhanced Comfort and Modern Standards: New properties in France offer a significantly higher level of comfort compared to those on the secondary market. These properties are constructed with the latest technological innovations, ensuring better ecological standards, superior soundproofing, and improved thermal insulation.
• Optimal Space Utilization: Modern layouts in new constructions are designed to make optimal use of space. This approach results in more practical and aesthetically pleasing living environments.
• Additional Amenities: Most new constructions on the French Riviera include underground parking, a highly valued feature. Furthermore, many new residential complexes boast additional amenities like swimming pools and parks, enhancing the living experience.
• Customization Opportunities: Prior to the commencement of construction, there is the possibility of modifying the building plans to suit personal preferences, allowing for a tailored living space that meets individual needs.
• Stringent Construction Standards: The quality of new builds in France is subject to rigorous control. These standards ensure that new properties are safe, reliable, and built to last.
• Fire Safety and Health Standards: New constructions strictly adhere to fire safety norms and avoid using hazardous materials such as asbestos and lead, ensuring a healthier living environment.

VEFA Model: A Detailed Overview

The VEFA (Vente en l'État Futur d'Achèvement), commonly known as the 'sale in future state of completion,' is a French real estate mechanism where buyers purchase property that is not yet completed. This model is particularly popular for new constructions, providing security and clarity throughout the buying process.

Stages and Payment Rates:

• Reservation: A minimum of 5% of the total cost is paid at the time of reserving the property.
• Foundation Stage: At least 35% of the cost is due when the foundation is laid.
• Roofing Stage: Payment increases to at least 70% upon completion of the roofing.
• Completion of Construction: At least 95% of the cost is paid when construction is finished.
• Handover: The remaining balance, up to 100%, is settled upon the delivery of the property.

Contractual Details

The VEFA contract includes comprehensive details to ensure a transparent and secure transaction:

• Approximate Living Area: Specifies the total square footage or square meters of the property.
• Number of Rooms: Details the number of bedrooms, bathrooms, and other living spaces.
• Location Within the Building or Complex: Describes the property's exact location, such as the floor number, orientation, and views.
• Price and Conditions for Revision: Outlines the total cost, including conditions under which the price may be adjusted.
• Technical Specifications: Provides a detailed account of the construction materials, finishes, and equipment to be used.
• Construction Completion Dates: Lists the expected dates for each construction phase, leading up to the final handover.
• Guarantees: Includes various warranties, such as the 10-year structural warranty (Garantie Décennale), 2-year warranty on fixtures and fittings (Garantie Biennale), and a one-year guarantee for any minor defects or finishes (Garantie de Parfait Achèvement).
• Personalization Options: If applicable, describes the extent to which buyers can customize aspects of the property.
• Payment Schedule: Details the payment percentages corresponding to different stages of construction.
• Legal and Regulatory Compliance: Ensures that the construction complies with all current French building regulations and standards.

Financial Benefits of New Builds

• Reduced Notary Fees: In the case of new builds, the notary fees are typically between 2-3% of the property's total cost, which is considerably lower than the 7-8% fees associated with secondary market purchases.
• Tax Exemptions: New property owners may be eligible for a two-year exemption from property and residence taxes, depending on the location of the new build. 
• Economic Savings: New properties do not require immediate repairs, and the modern energy-efficient measures lead to lower utility costs.
• Favorable Tax Regimes for Rentals: Various tax regimes exist to encourage investments in new builds. For instance, the Robien Law allows up to 65% property depreciation over 15 years, Borloo Law offers up to 30% tax exemptions for landlords, and the Scellier Law provides up to 21% tax reduction for investments in energy-efficient new builds.
• Customization and Early Purchase Benefits: Purchasing a property during the early stages of construction under the VEFA model allows for customization according to personal requirements, a flexibility often not available in completed residences.

Conclusion

The unique advantages of investing in new build properties on the French Riviera — from their prime locations and customization options to their adherence to high-quality standards and favorable financial terms — make them an attractive choice for discerning investors. "ServiceAzur" group of companies is here to guide you in finding a property that not only meets your lifestyle aspirations but also serves as a wise investment in this vibrant real estate market.

To further explore these opportunities, we invite you to view our selection of new build properties, showcasing the best that the Côte d'Azur has to offer.