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September 2019
France
2019
The source adds the following information: "The purchase and ownership of a property incur costs, agency and notary fees, charges (condominium fees, maintenance, property taxes), as well as the cost related to the mortgage.
Over time, the owner will repay their mortgage and build equity. To track the profitability of the purchase over time, one must then compare this amortized equity against the costs related to the purchase and ownership of the property and compare that to the money the household would have spent renting the same property.
The break-even point is then defined as the minimum holding period allowing the household to no longer lose money compared to renting the same property.
Calculated based on:
- the average price per square meter of premises.
- the average rent per square meter for each city.
- mortgage interest rates over 20 years.
- an estimate of the various costs related to the purchase and ownership of a property (agency fees, transfer taxes, charges, property tax, mortgage insurance)."
