Can a French plan épargne logement (PEL) be used to purchase a property located outside France?

[anushagupta]

I wonder the following: can a French plan épargne logement (PEL) be used to purchase a property located outside France?

https://www.service-public.fr/particuliers/vosdroits/F16140 does not indicate any condition on the location of the property, but thelocal.fr mentions:

If you are looking to buy a home in France - or refurbish a property - then you might consider either the PEL (Plan épargne logement) or CEL (Plan épargne logement).

so I am confused on whether a PEL can be used to purchase a property located outside France.



From https://www.service-public.fr/particuliers/vosdroits/F16140 with Google Translate:

PEL opened before March 1, 2011**:

The home savings loan can be used to carry out one of the following operations:

• Purchase of the main residence (new or old)
• Construction of the main residence (purchase of land and construction work)
• Extension, repair or improvement work on the main residence (raising, energy saving, facade renovation of a condominium building, etc.)
• Acquisition or subscription of shares in SCPI (real estate investment companies) for residential purposes
• Construction or acquisition of a second home (new)
• Renovation or extension of a second home
• Acquisition of a leisure or tourist residence

Original text:

PEL ouvert avant le 1er mars 2011** :

Le prêt épargne logement peut servir à réaliser l'une des opérations suivantes :

• Achat de la résidence principale (dans le neuf ou dans l'ancien)
• Construction de la résidence principale (achat du terrain et travaux de construction)
• Travaux d'extension, de réparation, ou d'amélioration de la résidence principale (surélévation, économie d'énergie, ravalement de façade d'un immeuble en copropriété...)
• Acquisition ou la souscription de parts de SCPI (Sociétés civiles de placement immobilier) à vocation d'habitation
• Construction ou acquisition d’une résidence secondaire (dans le neuf)
• Rénovation ou extension d’une résidence secondaire
• Acquisition d’une résidence de loisirs ou de tourisme

 

[dxsn0]

@anushagupta No idea. Maybe just ask your bank if it’s possible. If you get a negative answer keep asking until you hopefully get a positive response. It’s basically a savings account with higher interest rates, or is it also linked to a mortgage? Am sure a French mortgage could only be used to buy French property.

 

[anushagupta]

@dxsn0 It is linked to a guaranteed interest rate for a real estate loan.