TRUE OR FALSE. The abolition of notary fees, a measure really aimed at young people from the working classes?

In the event of victory in the legislative elections, the presidential camp has promised to eliminate notary fees for properties worth up to 250,000 euros. The measure is supposed to benefit young people from the middle and working classes. Is this really the case? Gabriel Attal’s proposal covers the part of notary fees which falls to the State, i.e. 5.8% of the purchase price of a property. For an apartment costing 250,000 euros, the fees amount to around 14,500 euros. The amount could therefore be saved by some buyers.

Contacted, the Prime Minister’s entourage specifies that the measure is aimed at thirty-somethings who want to access property for the first time. According to an INSEE report in 2017, first-time buyers are mainly part of the middle classes and the wealthiest categories. According to an online simulator, you need to earn around 3,800 euros per month to be able to borrow 250,000 euros from the bank under current conditions.

In reality, the measure would therefore only help young people who already have sufficient income to borrow or who have assets. It would therefore not benefit young people from the working classes. Experts also agree that it will not have a decisive effect on the real estate market.