The increase in "notary fees" in real estate will not affect first-time buyers according to Matignon

On 15 November, Prime Minister Michel Barnier announced an increase from 4,5% to 5% in the ceiling for transfer duties (DMTO), often misused as "notary fees".

This measure aims to reduce the budgetary effort required of the departments and they will be given the choice, for three years, of whether or not to increase the tax rate.

Real estate professionals had denounced "bad news for younger buyers", according to Maël Bernier, communications director for the broker Meilleurtaux, and seem to have been heard.

Matignon indicated on Friday that "first-time buyers would not be affected" by this possible increase in the ceiling and "will benefit from a reduction".

It was added that "this measure will not apply to new buildings" either.

New real estate already benefited from a reduced DMTO rate, capped at 0,75% of the price of the property.

In old real estate, DMTOs constitute the majority of the fees paid during a purchase.

The departments derive a fifth of their revenue from these DMTOs, which have fallen sharply over the past two years in the face of the crisis in the real estate market.

Illustrative image of the article via Depositphotos.com.