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The viager market in Europe.

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Comparative Analysis between Countries and Perspectives

The viager is a real estate transaction method that consists of selling a property in exchange for an annuity paid to the seller until their death. This type of sale is particularly suitable for elderly people who wish to supplement their retirement income or secure their future. The viager market has developed in many European countries, each with its own specificities. This article offers a comparative analysis of the viager market in Europe, as well as prospects for this booming sector.

Viager Market Overview in Europe

The viager market exists in several European countries, although France remains the undisputed leader in this regard. According to available statistics, over 90% of viager transactions are carried out in France. Belgium, Italy, Spain, Switzerland, and Germany are also involved in this type of transaction, but to a lesser extent.

France, the Viager Champion in Europe

In France, the viager represents about 1% of real estate transactions, which amounts to nearly 5,000 sales per year. The most affected regions are Île-de-France, Provence-Alpes-Côte d'Azur, and Aquitaine. Several factors explain the enthusiasm for viager in France: favorable legislative framework, an aging population, and a competitive real estate market.

Viager in Other European Countries

In other European countries, the viager market is much less developed than in France. For example, in Belgium, it is estimated that only 300 to 500 viager transactions are carried out each year. In Italy, viager exists in the form of "vendita con riserva di usufrutto" but remains marginal. In Spain, viager is not widely used because it is not suitable for the specificities of the local real estate market. Switzerland, on the other hand, has had some success with viager, thanks in particular to the implementation of favorable tax regulations.

Comparison of Viager Systems between European Countries

While the general principle of viager remains similar from one country to another, each national context presents specificities, both legally and practically.

Legal Differences between Countries

In France, the viager is governed by the Civil Code, which provides for two types of viager: free viager and occupied viager. In other countries, regulations vary. For example, in Belgium, viager is regulated by the Law of Obligations, while in Italy, the Civil Code applies.

Practical Differences between Countries

Regarding the practical functioning of viager, several differences can be noted between countries. In France, for example, it is common to pay a lump sum ("bouquet") at the time of sale, while in Belgium, this practice is less widespread. Similarly, the methods of calculating the viager annuity vary from one country to another.

Future Perspectives for the Viager Market in Europe

The viager market is currently experiencing significant growth in Europe, mainly due to the aging population and economic uncertainties that push seniors to seek solutions to secure their financial future. Several trends can be identified for the viager market in the coming years.

European Harmonization?

Given the development of the viager market in Europe, it is possible that national legislations will evolve towards harmonization. This evolution could lead to better understanding and greater legal security for the parties involved.

The Rise of Matchmaking Platforms

With the advent of the internet, numerous platforms have emerged to connect sellers and buyers, facilitating the search and decision-making process for both parties. This trend is expected to continue and contribute to the democratization of viager among a wider audience.

Innovations to Meet the Specific Needs of Seniors

Finally, in response to the growing demand from elderly people for solutions tailored to their situation, it is highly likely that new viager products will emerge. These innovations could leverage new technologies, such as blockchain or artificial intelligence, to offer personalized services and meet the specific housing and financial security needs of seniors.

In conclusion, the viager market in Europe is currently experiencing significant growth, driven by favorable demographic and economic factors. However, significant disparities remain between countries, both legally and practically. The future prospects for this sector are varied, ranging from European harmonization to the emergence of new innovative solutions to meet the needs of seniors.

(dernière mise à jour 04 Aug 2023 à 02:08 )