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Subject:  Re: buying property in europe? Date:  4/25/2001  4:23 PM
Author:  Institution Number:  19698 of 128238

i am an american living in america who wants to buy a rental property in paris that i can use part of the year for myself and rent out the rest of the year to tourists, students, etc. i have only begun to research. does anyone out there know of any resources or has anyone figured out how to buy property abroad, how to get a mortgage, how property taxes work, whether foreigners are even allowed to own property, etc. etc...

DOOOONNNN'TTT DDDDDOOOOOO IIIITTTT! I'm an American living in Paris. There is a reason that people rent for their entire lives here. It is rarely a good idea to buy property here; renting is almost always cheaper. This is even more true if you're not actually living in the property. It is especially true if you are planning to stay short-term and rent out the apartment when you're not there. Even assuming you can rent the apartment (which is a big assumption), you will bleed money. It is far, far more cost-effective to rent during the part of the year that you are in France.

Yes, you are allowed to buy property in Paris if you are an American, though the proofs of income are quite strict,