In this guide, we will explain to you all the essential steps of purchasing a luxury villa in the Gulf of Saint-Tropez.
Understanding the real estate market
The real estate market in this region is unique, with constant demand for prestigious properties. Luxury villas vary in style (contemporary, Provençal villas, properties with sea views, secure estates, etc.).
Their prices usually start from 1 to 2 million euros and can easily exceed 20 million euros for the most exclusive properties.
Preparatory steps before purchasing
Before you embark on purchasing a luxury villa, it is crucial to prepare yourself well to ensure that the process goes smoothly.
- Define your budget: Take into account not only the purchase price, but also additional costs such as notary fees (around 7 to 8% of the purchase price), property taxes, maintenance charges, and possible renovation work.
- Choose the right type of financing: Decide whether you will finance your purchase with a mortgage or using your own funds. It is advisable to consult a financial advisor specializing in luxury real estate.
The Property Purchase Process
The process of purchasing a luxury property in France follows specific steps.
- Property visits: Your real estate agent will organize viewings of villas that match your criteria. Take the time to visit several properties to compare the available options.
- Signing the sales agreement: Once you have found the ideal villa, you sign a sales agreement (“Compromis de Vente”) that commits both the seller and the buyer to complete the transaction. At this stage, a security deposit (usually 10% of the purchase price) is required.
- Cooling-off period: You have a legal 10-day cooling-off period after signing the sales agreement. During this time, the buyer can withdraw from the agreement without penalty.
- Securing financing: If you need a loan, this is when you should secure approval from your bank.
- Final sales contract: About three months after signing the sales agreement, the final sales contract is signed at the notary’s office. You officially become the owner of the villa.
Hidden Costs and Associated Expenses of Purchasing a Luxury Villa
Buying a luxury property in Saint-Tropez involves several additional costs that are important to consider.
- Notary fees: Approximately 7 to 8% of the purchase price.
- Local and property taxes: These vary depending on the size and location of the property.
- Maintenance costs: Gardens, pools, security services, and general upkeep can add up.
- Renovations and improvements: Some buyers choose to renovate or modernize their new villa.
Expert Tips for Buying in the Gulf of Saint-Tropez
- Invest in the location: Location is key. A villa with a sea view or situated in a gated community is often a safe investment.
- Pay attention to construction quality: Ensure that the villa is built with high-quality materials and is in good condition.
- Consider rental income potential: If you plan to rent out your villa, prioritize properties in areas popular with tourists.
- Work with local experts: A good lawyer, a trusted notary, and a real estate agent from our agency will guide you throughout the process.
If you are considering buying a luxury villa in Saint-Tropez, feel free to contact us. Our luxury real estate experts are ready to assist you at every step of your project.
