Buying New-Build Property in France Off-Plan (VEFA)
Dernière mise à jour : 24 juil.
Buying new-build property in France off-plan usually means buying through a vente en l'état futur d'achèvement, known as VEFA. You reserve a home that is not yet built or is still under construction, sign a notarial deed later, then pay the price in stages as the works progress.
For foreign buyers, VEFA can be attractive: modern standards, no immediate renovation, reduced acquisition costs compared with older property, and statutory construction guarantees. It also carries different risks from a resale purchase: developer delay, plan changes, staged bank drawdowns, delivery defects and the need to understand technical documents in French.
This guide explains the reservation contract, the 10-day withdrawal period, deposit caps, staged payments, completion guarantees and the notaire's role. FrenchNotaires can match you free of charge with a bilingual notaire, usually within about 48 hours, before you commit to an off-plan purchase.
What is VEFA?
A VEFA is an off-plan sale of a building to be constructed or completed. The developer sells a future property, and the buyer becomes owner progressively as construction advances. The deed describes the land, the building, the apartment or house, technical specifications, delivery timetable and guarantees.
Unlike an older property purchase, you are not inspecting a finished home before signing. You are relying on plans, notices, specifications, permits and the developer's legal obligations. This makes the notarial file especially important.
VEFA is most common for apartments in new developments, but it can also concern houses in a new-build programme. It differs from buying land and contracting separately with a builder, and from buying an existing home with renovation works planned after completion.
For the general French purchase framework, read Buying Property in France as a Foreigner: The Role of the Notaire.
The reservation contract
The first document is usually a contrat de réservation (reservation contract). It is often signed directly with the developer before the final notarial deed. It is not the same as a classic compromis de vente for an existing property.
The reservation contract should identify:
the property reserved: building, lot number, parking, cellar, floor and approximate surface;
the provisional sale price and any revision mechanism;
the technical description and quality of finishes;
the expected date for signing the notarial deed;
the estimated delivery timetable;
the financing condition, if you are borrowing;
the amount and escrow location of the deposit.
Do not treat the glossy brochure as the contract. Ask for the reservation contract, plan, technical notice and any documents on energy performance, parking, communal facilities and service charges.
Deposit caps: 5%, 2% or none
The VEFA reservation deposit is regulated. It should be placed in a special account opened in your name or held by a notaire, not simply paid into the developer's ordinary operating account.
Maximum VEFA reservation deposit | ||
Expected timing for final deed | Maximum deposit | Practical point |
Final deed within less than 1 year | 5% of the sale price | Common for advanced programmes close to notarial signature. |
Final deed between 1 and 2 years | 2% of the sale price | Used where the programme is less advanced. |
Final deed expected after more than 2 years | No deposit may be required | Do not pay a reservation deposit if the legal cap is zero. |
If you withdraw validly during the withdrawal period, or if specific statutory conditions allow recovery, the deposit should be returned. Keep proof of payment and confirm where the funds are held before sending money from abroad.
10-day withdrawal period
A non-professional buyer normally has a 10-day withdrawal period after proper notification of the reservation contract. This protects you if you change your mind after reviewing the documents.
The period is counted in calendar days, with extension if the final day falls on a Saturday, Sunday or public holiday. For a detailed explanation of how to count and notify withdrawal, see French Property Cooling-Off Period for Foreign Buyers.
Foreign buyers should organise translation and legal review before the clock is almost finished. The reservation contract may be short, but the attachments and technical specifications matter more than the sales summary.
The VEFA notarial deed
The final VEFA sale must be signed by notarial deed. Before signing, the notaire sends the buyer the draft deed and key documents in advance. This is your opportunity to check that the deed matches the reservation: lot, surface, parking, delivery timetable, price, guarantees and payment schedule.
The deed usually includes or refers to:
planning permit and administrative status;
land ownership and developer title;
technical description of the building and private lot;
co-ownership rules for apartment developments;
guarantee of financial completion or refund;
payment schedule and bank details;
delivery process and post-delivery guarantees.
If the new-build is in a copropriété, budget future service charges and read the draft by-laws. Our guide to French Copropriété for Foreign Buyers explains the vocabulary.
Staged payments during construction
Unlike an existing property purchase, the full price is not paid on the day you sign the deed. The developer issues calls for funds as construction reaches legal milestones. The statutory maximum schedule is commonly summarised as follows:
Typical VEFA payment stages | ||
Construction stage | Maximum cumulative payment | Meaning |
Foundations completed | 35% | The structural base is complete. |
Building made watertight (hors d'eau) | 70% | Walls, roof and envelope have reached the relevant stage. |
Works completed | 95% | The property is substantially complete before delivery. |
Delivery and keys | Final 5% | Paid at delivery, subject to handling of justified conformity disputes. |
If you use a French mortgage, the bank releases funds progressively. Interest may be charged during construction, and repayment may be structured differently from a normal resale mortgage. Read Getting a French Mortgage as a Non-Resident Buyer before signing the finance condition.
GFA and post-delivery guarantees
The most important construction-stage protection is the garantie financière d'achèvement (GFA), the financial completion guarantee. It is intended to ensure completion if the developer cannot finish the building for financial reasons. Your notaire should verify that the guarantee exists and is valid before the deed is signed.
After delivery, several construction guarantees may apply, including:
Guarantee of perfect completion (garantie de parfait achèvement): generally one year for defects notified at delivery or within the statutory period;
Two-year guarantee (garantie biennale): for certain separable equipment;
Ten-year guarantee (garantie décennale): for serious structural defects or issues making the property unfit for use.
These guarantees are useful, but they are not a reason to sign without reading. They do not remove delays, inconvenience or the need to document defects carefully.
Delivery, snagging and the final 5%
Delivery (livraison) is the moment when you inspect the completed property, receive the keys and record any defects or non-conformities. It is not the same as the developer's technical reception of works from contractors, but it is your practical handover as buyer.
Before delivery, prepare a checklist:
compare the finished home with the plan and technical specification;
test shutters, taps, heating, ventilation, doors and electrical points;
check surfaces, parking, cellar and balcony or terrace;
photograph defects and list them clearly in the delivery report;
ask how and when reservations will be lifted.
If serious non-conformities exist, the final 5% may sometimes be consigned rather than paid directly, depending on the legal basis and procedure. Do not withhold payment informally without advice. Ask the notaire how to handle any dispute before delivery day.
Buying off-plan from abroad?
A bilingual notaire can explain the reservation contract, payment calls, GFA and delivery process before you transfer funds to France.
Get Matched with an English-Speaking Notaire in 48 Hours · Free matching · In person or video
Practical points for foreign buyers
VEFA is paperwork-heavy. If you are not in France, you need a document and payment process that works across borders.
Ask for English explanations early. The binding documents are in French; a sales translation is not enough.
Confirm the escrow route for the reservation deposit. Funds should be protected, not wired casually to a salesperson.
Plan progressive bank transfers. Currency movements can affect each call for funds over many months.
Check local taxes and running costs. New build does not eliminate taxe foncière, copropriété charges or insurance. See French Property Holding Costs for Non-Residents.
Use power of attorney if you cannot travel. A procuration may be needed for deed signing or delivery logistics: Power of Attorney in France.
Arrange insurance from delivery. Once keys are handed over, your own cover becomes essential. See French Home Insurance for Non-Resident Owners.
Frequently Asked Questions
What does VEFA mean in France?
VEFA means vente en l'état futur d'achèvement, an off-plan sale where you buy a property to be built or completed. You become owner progressively as construction advances.
Can foreign buyers buy VEFA property?
Yes. There is no nationality bar on buying new-build property in France. The main challenges are understanding French documents, financing staged payments and managing delivery from abroad.
How much is the reservation deposit in VEFA?
The legal cap is 5% if the final deed is expected within less than one year, 2% if it is expected between one and two years, and no deposit if the deed is expected after more than two years.
Do I have a 10-day withdrawal period?
A non-professional buyer usually has a 10-day withdrawal period after proper notification of the reservation contract. Check the exact start date and notification method with your notaire.
Are notaire fees lower for new-build property?
They are often lower than in older property because transfer duties are reduced and VAT is generally included in the new-build price. Ask for a provisional completion statement before signing.
What is the GFA in a VEFA purchase?
The garantie financière d'achèvement is a financial completion guarantee intended to ensure the building is completed if the developer becomes financially unable to finish the works.
Can I refuse to pay the final 5% at delivery?
You should not refuse informally. If there are serious non-conformities, the final 5% may sometimes be consigned through the proper procedure. Ask your notaire before delivery day.
Should I use my own notaire for VEFA?
Yes, especially if you are buying from abroad. The developer's notaire prepares the programme file, but your own bilingual notaire can explain the documents and protect your understanding of the transaction.
Speak to a bilingual notaire before reserving
Off-plan purchases move quickly at reservation stage, but the legal and financial commitment lasts until delivery. FrenchNotaires can match you with a bilingual notaire within 48 hours, including through Notaire Aix-en-Provence and Notaire Bordeaux.