Method
How sworn property valuations work in France
Buying, inheriting, or disputing French property eventually brings most international investors to the same question: what is this asset actually worth — and who can prove it? Estate agents give estimates. Notaries give opinions. Neither carries weight in court or before the French tax authority. A sworn property valuation (expertise en valeur vénale) does. This guide explains what it is, when you need one, and what to expect from the process.
What is a sworn valuation — and how is it different from an estimate?
In France, two very different things are commonly called "valuations." An avis de valeur (agency estimate) is a commercial opinion produced by an estate agent, typically to support a listing mandate. It reflects the agent's interest in maximising the sale price and carries no legal standing.
An expertise en valeur vénale is a technical report produced by an independent expert — not an agent — following a physical inspection, a review of comparable market data, and a documented methodology. It establishes the open market value (valeur vénale) of the property: the price a willing buyer would pay a willing seller in a competitive market, both acting without constraint.
The distinction matters legally. Only the expertise can be submitted to the French tax authority as justification for a declared value, admitted as evidence in civil proceedings, or used as the reference figure in an estate or matrimonial liquidation.
When do you need one?
The most common triggers for international clients are inheritance, IFI wealth tax, divorce, acquisition, and disputes.
Inheritance: when a French property is included in an estate, the value declared to the French tax authority (DGFiP) must be defensible. Undervaluation triggers a reassessment with penalties. An independent valuation is the clearest evidence.
IFI wealth tax: owners of French real estate with net assets above €1.3 million must file an annual IFI declaration. The declared value must be justifiable.
Divorce or separation: when a couple separates and real estate is involved, an independent contradictory valuation is standard practice — often the only figure both parties' lawyers can accept as a starting point.
Acquisition: before committing to a purchase price, an independent valuation confirms whether the asking price reflects open market conditions — particularly for prestige properties where comparable data is thin.
What does the process look like?
- Engagement letter: written letter of engagement setting out the property, the purpose, the valuation date, and the fixed fee. Both parties sign before work begins.
- Physical site visit: the expert visits the property in person — no desktop valuation. Condition, measurements, planning constraints, occupation status, marketability.
- Comparable market analysis: three to five documented comparable sales from official sources (DVF, Cerema, notarial databases), adjusted for differences in size, condition, location and date.
- Reasoned report: documents every step. Concludes with a single value figure or a narrow range, supported by the comparable analysis. Reports run 25 to 60 pages.
- Post-delivery support: available to discuss the report with lawyers, notaries, or opposing experts, and to attend hearings if required.
What methodology does the expert use?
The primary methodology for residential property in France is the comparables approach (méthode par comparaison): the subject property is compared to documented sales of similar properties in the same market area, adjusted for differences in size, condition, floor, orientation, and date of sale.
For income-producing assets, the income capitalisation method (méthode par le revenu) may be applied in addition. For atypical or heritage properties, a cost approach may be used as a cross-check.
French valuation practice is governed by the Charte de l'Expertise en Évaluation Immobilière — a professional standard endorsed by the major professional bodies.
How do I choose an independent valuer?
- Works entirely independently of any agency mandate (conflict of interest disqualifies the report)
- Conducts a physical site visit — always
- Uses documented comparable sales from official sources
- Produces a written, signed report with a clear methodology section
- Has verifiable professional guarantees (professional liability insurance, financial guarantee)