How to finance the purchase of an apartment in Paris?

Published on 06/06/2020

As with any real estate project, buying an apartment in Paris requires a fairly substantial budget. In addition, it should be noted that the prices per m² in the capital are the highest in the country. Thus, in order to be able to realize your dream of buying your home in Paris, taking out a mortgage is inevitable...

The Paris Logement loan is one of the most advantageous types of credit for carrying out your real estate project in the capital. To better understand this type of loan, let's find out together what the Paris Logement loan is and what are the conditions necessary to obtain it?

Paris Housing Loan: what is it?

The Paris Logement or PPL loan is a real estate loan, more precisely an aid for the purchase of housing, set up by the city of Paris to make it easier for Parisians to finance the realization of their real estate project in the capital. Better known as the 0% Paris housing loan, this is an interest-free loan granted by any bank that has signed an agreement with the City of Paris to finance the acquisition of a home by a household. Parisian.

The 0% PPL can be combined with the zero rate loan for the purchase of a new home. This aid allows a single person to obtain a sum capped at 24 200 euros against 39 600 euros for households made up of two or more people. These amounts remain the same whether for the purchase of a new or old property, with or without work. The reimbursement of the Paris housing loan is made over a period of 15 years with a constant monthly payment and without interest.

What are the conditions for obtaining this type of mortgage?

In order to be able to benefit from the Paris housing loan 0% and thus more easily buy accommodation in the capital, households must meet the following conditions:

– Proof of one year of main residence in Paris at the time of taking out the loan

This condition is not mandatory for certain categories of people. In particular for agents of the City of Paris, those of the Social Action Center of the City of Paris, firefighters of Paris, police officers of the police headquarters, medical staff of the hospital public service in Parisian hospitals of the Assistance Publique-Hôpitaux de Paris, as well as the purchasers of housing adapted for a physically disabled person with a view to living there as their main residence

– Being a first-time buyer

In other words, the household must not own their principal residence at the time of purchase, whether during the current year or during the two previous years

– Borrow an amount equivalent to most of the price of the property

Indeed, the total amount of the loan must represent at least 90% of the price of the accommodation, excluding notary fees and any work. The PPL is therefore particularly aimed at households who do not have a sufficient contribution and who could not buy without this financing

– Have income not exceeding a certain resource ceiling

As this resource ceiling is revised regularly, generally every year, it is therefore recommended to find out about the subject before establishing your PPL application file. For the course of 2017, the reference tax income should not exceed the following ceilings: 37 160 euros for a single person, 52 426 euros for a household made up of two people, 68 723 euros for three people, 82 049 euros for four people and 97 620 euros for five people and more.

Photo by Steven Lasry/Unsplash


Parisearch, a local agency expert of the Parisian market

Parisearch is a real estate agency in Paris.

Connected 24 hours a day to the market and its network, it responds to all requests for research or sales of real estate in Paris and the Ile-de-France.

Its objective is to accompany its customers in the realization of their project of life by securing their step and by allowing them to reach rare goods (off-market) which will make their happiness and will answer perfectly their criteria.

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