In France, about 39.9% of homes that change ownership are transferred through inheritance or gifts, according to a study by INSEE, France's national statistics office, published on October 6. This includes 25.2% of homes inherited annually (443,000 homes) and 10.4% gifted (183,000 homes). An additional 4.3% of homes are both inherited and sold. In contrast, 60.1% of property transfers result from real estate sales, indicating that most home ownership changes come from purchases rather than inheritance or gifts. The study highlights significant differences in property transfers based on social categories. Nearly 14% of property transfers occur among the 20% wealthiest individuals, compared to 2% among the 20% least wealthy. Inheritances and gifts are more common among the wealthy, with 34% of transferred homes going to this group, compared to 22.2% for the 3rd and 4th wealth groups and 12.3% for the least wealthy. Even when considering transfers within the same economic level, 14% of transferred homes remain among the wealthiest, while only 2% go to the least wealthy. Recipients of inheritances and gifts tend to be older than first-time or second-time homebuyers. Heirs have an average age of 54, gift recipients 48, while buyers average 43. This age difference affects the recipients' existing property ownership. According to INSEE, 63% of home heirs and gift recipients already own one or more properties, with 36% owning a home and 27% being multiple property owners. When considering multiple homes inherited at once, the rate of multiple property ownership rises to 70%, compared to 20% of adults in the general population. Nearly 30% of inherited properties are sold within three years of the inheritance. Of these, 19% remain occupied by a previous owner, typically the surviving spouse. In other cases, 29% of inherited homes are sold by heirs three years after the transfer, and 1% are transferred again. The remaining 16% are rented as the primary residence, 15% are occupied by an heir, 11% are secondary residences, and 8% are vacant. For gifted homes, the distribution is different: only 7% are sold within three years, while 30% are rented out, 20% are occupied by the gift recipient, and 18% by the usufructuary (the donor). Additionally, 14% are secondary residences, and 9% are vacant.