Buying property in France as an American – is it hard?

Americans are among the most active foreign buyers in the French capital, reportedly accounting for 25% of non-resident transactions in Paris in 2023.

But moving from dreaming about a French pied-à-terre to actually owning one involves navigating a different legal system, language barriers, and strict financing rules.

The short answer is: Yes, it is possible for Americans to buy property in France, and it is not overly difficult if you have the funds. There are no legal restrictions on US citizens owning French real estate. However, the process is bureaucratic, and obtaining a mortgage as a non-resident can be challenging.

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Can Americans buy property in France?

Yes. France has an open property market, and there are no restrictions on US citizens (or any non-EU nationals) buying property there. You have the same legal rights to own real estate as a French citizen.

You do not need a visa or residency permit to purchase a home. You can buy property while visiting on your standard 90-day tourist allowance.

However, while the purchase is permitted, the logistics of moving money to pay for it can be costly if you use traditional banks.

You can use the Wise Account to convert dollars to euros at the mid-market exchange rate with low fees, avoiding hidden markup fees often charged by standard banks.

What buying property gets you

Owning property in France offers several benefits beyond having a beautiful vacation home or investment asset.

• A stable investment: The French property market has historically been relatively stable compared to more volatile markets.
• Rental potential: France is the most visited country in the world, offering strong potential for holiday rental income, provided you adhere to local laws.
• Proof of accommodation: If you apply for a long-stay visitor visa, owning a home fulfills the requirement for proof of accommodation, which can simplify one part of your visa application.

What buying property does not get you

It is a common misconception that buying a house in France automatically leads to residency.

• No automatic visa or residency: Owning property does not give you the right to live in France. You are still subject to the Schengen rule (90 days in any 180-day period). To stay longer, you must apply for a Long Stay Visa (Visa de long séjour valant titre de séjour or VLS-TS) separately.
• No “Golden Visa”: Unlike some other European countries, France does not have a direct “Golden Visa” program where buying real estate purely for residence purposes grants you a visa. There is a “Talent Passport” for significant business investors, but simply buying a holiday home does not qualify.

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How difficult is the process?

The process is highly regulated, but it is heavy on paperwork. The key figure in any French property transaction is the notaire. This is a public official who represents the state and ensures the sale is legal. You cannot buy property in France without one.

The forms involved

• Offre d’achat (Offer to purchase): A formal written offer. Once countersigned by the seller, the offre d’achat is legally binding for them (they cannot sell to someone else), though the buyer can still withdraw at this stage.
• Compromis de Vente: This is the first major contract. It sets out all the details of the sale. Once signed, the buyer pays a deposit (usually 5-10%).
• Cooling-off period: After signing the Compromis, the buyer has a mandatory 10-day cooling-off period. You can pull out of the sale for any reason during this time and get your deposit back.
• Acte de Vente: The final deed of sale signed at the notaire’s office. This transfers ownership and is when you pay the remaining balance.

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Typical timelines

The process typically takes 3 to 4 months from having an offer accepted to signing the final deed.

• Month 1: Offer accepted, diagnostics checked, Compromis de Vente signed.
• Month 2-3: The notaire conducts searches (land registry, planning permission) and you finalize your mortgage (if applicable).
• Month 3-4: Signing the Acte de Vente and handing over the keys.

Transferring money to France for the purchase

You will need to transfer a significant amount of money to the notaire’s escrow account for the deposit and the final purchase price. Using a traditional US bank to wire large sums to Europe often involves high swift fees and poor exchange rates.

You can use Wise to move money to France for the property purchase. Wise uses the mid-market exchange rate – the one you see on Google – and charges a transparent, upfront fee. This can be a cost-effective alternative to bank wires, especially for large real estate transactions.

If you have already opened a French bank account, you can also use Wise to move money between your US and French accounts efficiently.

What are the tax implications?

The French tax system is complex, and you may be liable for taxes in both France and the US.

In France

• Notaire fees (Frais de notaire): These are essentially closing costs and transfer taxes. They are roughly 7-8% of the property price for older properties and 2-3% for new builds.
• Taxe Foncière: An annual land tax paid by the owner of the property, regardless of whether you live there.
• Taxe d’Habitation: A residence tax. While this has been phased out for main residences, it is still applicable for second homes. As a non-resident owner, you will likely have to pay this.
• Wealth Tax (IFI): If your net real estate assets in France exceed €1.3 million, you are liable for the Impôt sur la Fortune Immobilière.

In the US

• Reporting: The US taxes based on citizenship, not residency. You must report foreign assets if they exceed certain thresholds (FATCA rules).
• Capital Gains: If you sell the French property, you may owe capital gains tax in France. Due to the US-France tax treaty, you generally avoid double taxation, but you must still report the sale on your US tax return.

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Local laws and regional variations

While national laws apply everywhere, local regulations can affect your use of the property.

• Paris and major cities: There are strict regulations on short-term rentals (like Airbnb). In Paris, you cannot rent out a secondary residence on a short-term basis without obtaining difficult-to-get commercial permits.
• Coastal restrictions: The Loi Littoral restricts construction near coastlines to protect the environment. If you buy land near the sea, check constructability rules carefully.
• Rural areas: In agricultural zones (SAFER), farmers often have the “right of first refusal” on land sales, which can sometimes block a purchase.

Renting out your property: is it allowed?

Yes, you can rent out your French property, but you must follow the rules.

• Long-term rentals: Generally easier to manage but offer lower yields. Tenants have very strong rights in France, making eviction difficult even if rent is unpaid.
• Short-term/Holiday rentals: Highly lucrative but strictly regulated. In cities with over 200,000 inhabitants (and many smaller tourist zones), you must register the rental with the town hall (Mairie) and get a registration number.
• Tax on income: Rental income earned in France is taxable in France. You will likely need to file a French tax return even if you are a US resident.

Buying land in France

Americans can buy land (terrain) in France just as easily as built property. However, you must verify the Certificat d’Urbanisme to ensure the land is buildable (constructible). Buying land that is designated as agricultural or natural zone means you usually cannot build a house on it.

Getting a mortgage: should I get one in France or the US?

It is rare for US lenders to offer mortgages for properties located in France because they cannot easily foreclose on the property if you default. You will likely need a French mortgage.

• French Banks: Many French banks lend to US citizens, but the criteria are stricter than for residents.
• LTV Ratios: Expect a lower Loan-to-Value ratio. While residents might get 80-90% or more, non-residents (especially non-EU) are often capped at 50% to 70% LTV.
• Requirements: You will need to prove a stable income. French banks look at your “debt-to-income” ratio, which usually must remain under 33-35% of your monthly income.
• Life Insurance: It is almost always mandatory to take out a life insurance policy (assurance emprunteur) to cover the loan.

The verdict: should you buy a house in France as an American?

Pros

• Lifestyle: You own a home in one of the most culturally rich and beautiful countries in the world.
• Stability: The French property market is generally secure and less prone to boom-and-bust cycles than some US markets.
• Potential Income: High demand for holiday rentals in tourist areas (Paris, Provence, French Riviera).
• Interest Rates: French mortgage rates have historically been lower than US rates, though this fluctuates.

Cons

• High Transaction Costs: Closing costs (7-8%) are significantly higher than in the US.
• Bureaucracy: The process is paper-heavy and in French.
• Taxes: Ongoing property taxes (especially Taxe d’habitation on second homes) and potential wealth tax.
• No Visa: It does not solve your residency needs; you still need to navigate the visa system to stay longer than 90 days.

Useful resources

Notaires de France – The official website of French notaries with guides on buying and selling.

Service-Public.fr – The official website of the French administration (Housing section).

Wise – For transparent international money transfers.