Biot, a picturesque village full of history, is located in the Alpes-Maritimes province, on the Côte d'Azur, southeast coast of France. Once a Roman stronghold, the town presents fragments of its history, through its paved streets, Roman remnants and medieval architecture. Nestled in greenery, it is bordered by the La Brague river and is only 4 km from the Mediterranean. Biot is just 16 km from Nice, a big city and close to the Nice Côte d'Azur international airport.
The Real Estate Market in Biot
Currently, the exclusive real estate market in Biot is stable, with a demand equal to the supply of luxury houses and apartments. The political and economic situation in Biot is stable, favoring a safe real estate market. Additional costs to consider when buying real estate in Biot include the transfer duty, real estate agent commissions, notary fees, and possible construction inspection or legal fees. In general, the real estate commission that a buyer must pay when buying a house in Biot is about 5% of the sale price.
Property Tax in Biot
Biot imposes a transfer duty of 5.80% on private properties. As for the wealth tax on a house in Biot, it depends on the net taxable value of the estate. Any profit made when selling a house or private apartment in Biot is subject to taxes, whether it's for a primary or secondary residence. The percentage of corporate tax for companies registered in Biot is 15% on the profit bracket up to 38,120 euros and 28% beyond. For registered residents of Biot, the tax rate is progressive and can go up to 45% for incomes exceeding 157,806 euros.
Mortgage Loans in Biot
To obtain a mortgage loan for the purchase of a house in Biot, the generally required ratio between own and foreign capital varies from 20% to 30% and the income requirements depend on the amount of the loan requested. The maximum amount a buyer can get in a mortgage on the purchase price in Biot also depends on several factors such as income, financial situation, and property value.
Life in Biot
Biot is known for its peaceful and exclusive lifestyle. The most sought-after residential areas are those located near the historical heart of the village. Biot offers several quality public infrastructures, including reputable educational establishments, hospitals, and efficient public services. The village enjoys a Mediterranean climate with an average temperature of 20°C. You can enjoy various outdoor activities such as hiking and cycling in the beautiful surrounding landscape. Biot also has various luxury shops, excellent restaurants, quality hotels and exclusive entertainment venues. Historical, cultural and sports events abound, with a rich calendar throughout the year, including the famous pottery festival. For art lovers, the Fernand Léger National Museum, the History Museum and the Contemporary Art Gallery are must-sees.
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