The deposit on these apartments is extra low at only 2% of property price. This is paid onto an escrow account for further security. This is instead of the usual 5% deposit to reserve a new-build property in France.
In France, before the developer/constructor can start receiving money, a financial and completion guarantee with a major bank has to be in place to guarantee the build completion and to protect you against and bad news.
Once you have paid the 2% deposit to reserve the property you only start paying when exchange of deeds takes place 2-4 months average from the moment you reserve. Then you pay in stages, based on construction until you reach delivery.
Typical construction stages are: Terracing | Foundations | Roof | Windows & Doors | Interiors
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