Ask Yourself Why You Want To Buy In Paris

Are you interested in buying a permanent residence in Paris? Are you
looking for a long-term investment, something you can sell in a few
years and make a reasonable profit? Do you want to buy an apartment you
can stay in for a week or month each year then rent out the rest of the
time? Aside from all the aesthetic and romantic reasons one wants to
own in Paris, these are the three most common reasons people want to
buy here. Making this initial determination will help you decide where
to buy and how much you will need to spend.

If a permanent residence is your goal, your options are fairly open.
Within any other parameters you may have, you can consider any area of
the city you like and any price range or apartment size without
seriously considering the immediate return on your investment. That
being said, even if you just want a home in Paris, it is still wise to
consider the investment value before you buy. Last week’s Paris
Property Insider discussed some of the latest information on evaluating
apartments (see:
http://www.internationalliving.com/paris/show_eletter.cfm?elet=11797).

Looking to buy for long-term investment/resale value? It is still
possible to find an apartment at a good price that you can sell in a
few years and make a profit. Compared to other major cities around the
world, real estate in Paris is relatively reasonable. You will want to
look in less trendy areas, but areas that are up and coming. Paris is
continually working to improve neighborhoods. There are a couple of
arrondissements, specifically the 9th and 10th, slated for neighborhood
improvements over the next few years. Buy an apartment there now and
the value of that apartment will likely increase over the next few
years.

You may be able to find apartments for sale in these areas at about
$100,000. Be aware that these will not be in the center of Paris.
Apartments here at that price may need renovation work and will have
little short-term rental value, if any, but would probably be rentable
on a mid-term or long-term basis. Though buying for this purpose is
necessarily a bit speculative, it can also make for a good long-term
investment.

The majority of people who contact us are interested in buying an
apartment in Paris primarily for its short-term rental value. While
they want to be able to spend time here in their home-away-from-home,
they hope to at least cover the mortgage payments, if not make some
money as well by renting it out.

Apartments that have short-term rental value are obviously going to be
found in more desirable, central areas of town and are going to be more
expensive. Bargains are rare. If this is what you’re interested in,
expect to look at properties starting at $250,000 to $300,000.
One-bedroom apartments rent well, but two-bedroom apartments stay
rented even more. They are, of course, a larger investment and more
difficult to find.

If you’ve been reading the Paris Property Insider for very long you’re
aware of the myriad issues that are part of buying property here. If
you’re serious about purchasing real estate in Paris, the starting
point is to think about the goal of making such a purchase–whether for
a residence, long-term investment, or short-term rental value. Deciding
that will help you determine where you should look and give you an idea
of how much you should expect to spend.

A bientôt,

Schuyler Hoffman
Editor, Paris Property Insider
Email: mailto:[email protected]

P.S. If you’re local or just happen to be in town and would like to
meet and chat with some of the folks you’re always reading about in our
newsletters, be sure and stop by the IL Paris/Parler Paris APRES-MIDI.
Scroll down for all the details. And don’t miss all the special holiday
offerings along the way!

P.P.S. HAPPY THANKSGIVING to all our American readers!

***
A BLIZZARD OF HOLIDAY OFFERINGS

* SAINT EUSTACHE

In the very heart of Paris… an amazing cozy studio with exposed
beamed ceilings, wood floors, and a fireplace. You’ll enjoy views from
your windows of St. Eustache church and be able to stroll to the Louvre
or Les Halles, both only minutes away on foot. You’ll also revel in the
array of shops and restaurants surrounding this unique flat.

Available from 16th of December until the 2nd January and offered at
$750.

Pictures and more details available here:
/parlerparis/property/steustache.html

* THE ALCOVE

A large studio, this elegant flat feels more like a one-bedroom.
Located in the chic yet historic area of St. Germain, you’ll be
surrounded by the old and the new. From St-Germain-des-Prés herself to
the famous cafés and brasseries, you’ll never find anything
uninteresting. Just strolling through the peaceful courtyard will have
you eager to relax and enjoy a glass of holiday spiced wine as you
relax after a day of exploring Paris.

Available from end of November through the 15th of January 2003.

Offered at $1,975 per month, with weekly rates available.

Pictures and more details available here:
/parlerparis/property/thealcove.html

* HOLIDAY ELEGANCE

Charming loft in Saint-Germain atop an 18th century building, with
elevator. This elegant apartment is quiet, has rooftop views,
fireplace, wood floors, antique carpets and furniture, and all
amenities including washer, dishwasher, tub and stall shower. It also
comes with maid service. Single or couple only, please.

Available December 14 to January 4

Offered at $1,000 per week or $4,000 for entire period, plus security
deposit.

For availability and reservations e-mail:
mailto:[email protected]?subject=#dsstgermain

* MARAIS LOFT

This truly unique apartment is situated in the heart of the Marais,
Around the corner from Places des Vosges. The Marais is the most lively
interesting quartier in Paris–brimming with boutiques, trendy
restaurants, art galleries and museums. It is centrally located and an
easy walk to the Louvre, Notre Dame, and the Seine. The flat is a
romantic, artistic duplex loft space (60m), with a view of rooftops,
the Eiffel Tower and the Sacre Coeur. Equipped with modern
appliances–gas stove, microwave, washing machine, large tub and double
sinks in the bathroom.

Available from December 23 to January 14

Offered at $950 per week, plus deposit and $35 for cleaning

For availability and reservations e-mail:
mailto:[email protected]?subject=#dsruedeTurenne

* GUEST ROOM FOR SINGLE WOMEN

A cancellation has left this guest room available for the first part of
December. Located in a 17th century Marais apartment, the surrounding
neighborhood will have you feeling like you live in Paris.

Available for now until December 23

Offered at $575 per week ($250 deposit required)

Pictures and more details available here:
/parlerparis/property/leeds.html

*** MORE HOLIDAY DEALS

Rentals in Paris, owned and operated by Glenn Cooper is offering 20%
off any rentals made from now until December 15th 2002. For details
send an e-mail to:
mailto:[email protected]?subject=ppiCooperdeal

FOR OUR FULL LIST OF SHORT-TERM APARTMENTS, UPSCALE AND LUXURY
APARTMENTS, and PRIVATE HOMES AVAILABLE TO RENT YEAR-ROUND, CLICK HERE:
/parlerparis/property/aptrentalhome.html

* * * * * * * * * * * * * * * * *

*** PARLER PARIS APRES-MIDI

Beginning Tuesday, December 10th from 3 p.m. to 5 p.m., and happening
every second Tuesday of the month after, at LE WEB BAR, 32 Rue de
Picardie, 75003 Paris, everyone is invited to join us for coffee (or
whatever your heart desires) and conversation with Parler Paris writers
and editors, and Parler Paris readers.

It’s sure to be a great way to meet new people, put faces to names and
enjoy Paris all the more!

(Métro Temple or République)

* * * * * * * * * * * * * * * * *

*** FINDING THE APARTMENT THAT’S RIGHT FOR YOU

Many people don’t have the time nor the resources to look for their own
piece of France, especially if they’re located in the States or other
foreign country.

Our office offers you assistance to do the things you can’t do unless
you are here. We have a specific service to help you find your
property. Using our personally selected professional locators and real
estate agents, we work with you to find the property that is worth
coming to France to look at. Or if you are already here, all the
better.

After getting a basic idea of what you are looking for, we will spend
the next month searching for just that. You’ll receive weekly reports
with suggested possibilities and pictures that will help to further
narrow down what you want.

The fee for this service is $500. Should we find the right apartment
for you, there will be a finder’s fee of 2% on the price of the
property if you make the purchase, with a minimum of $5000, maximum of
$20,000 (the initial $500 will be applied against the finder’s fee).

For more details and answers to your questions contact:
mailto:[email protected]?subject=ppiFindersService

For details on our full range of property services, got to:
/parlerparis/services/propertyconsultation.html

*** YES, FOREIGNERS CAN GET A MORTGAGE IN FRANCE

Not only can you buy property in France, you can obtain financing here
to buy that property. Our IL Paris office has associations in place
with two major lenders who specialize in foreign clients. They are
especially interested in building their American customer base. Through
these lenders you can finance 70% to 85% of the purchase price of the
property, depending on your resident status in France, at very
attractive interest rates (currently 4.5% to 5.7%).

Our services are available to assist you with filling out initial
applications and collecting the documents you’ll need to apply for your
mortgage. We will set up the appointments with the lenders for you, and
if desired we can even accompany you to your appointments.

If you’re seriously looking to buy property in France and would like
more information on the lending process, visit our website at:
/parlerparis/services/propertyconsultation.html.

For answers to your questions contact Schuyler Hoffman:
mailto:[email protected]?subject=ppiMortgageInfo

*** WORKING AND LIVING IN FRANCE CONSULTATION SERVICES

Living in France for several years, we have accumulated valuable
information and developed valuable contacts. We are able to assist you
as much as possible and when necessary, put you in contact with one or
more of our professional associates to provide the help you need.

– Fee of $75 an hour with a two-hour minimum, plus expenses (travel,
phone charges, etc., when applicable).

– Consultation can be arranged in person, by phone, or e-mail.

For more information contact Schuyler Hoffman at
mailto:[email protected]?subject=ppiConsultation
or visit
/parlerparis/services/workandliveconsultation.html.

*** DO YOU HAVE AN APARTMENT IN PARIS OR HOME IN FRANCE YOU WANT TO
SELL?

We can help you promote your property as well as connect you with
interested buyers we already have. Send an e-mail to
mailto:[email protected]?subject=ppiForSale

* * * * * * * * * * * * * * * * * * * * * *

COMING TO PARIS?

Why not stay in the finest pied-à-terre in Paris. In the heart of the
Saint-Germain-des-Prés neighborhood of Paris, on rue Mazarine, sits
International Living’s very own Paris pied-à-terre in the finest
location possible.