Buying and Banking on It
Blossoming in Paris
(FOR SUBSCRIBERS ONLY)
April 13, 2006
Bonjour French Property Insider Subscriber,
This week we celebrate important holidays, the coming of Spring (my geraniums are blooming nicely adding bright color to often drab skies) and several success stories.
Grace F. returned home to California this week with her old and trusted friend, Dianne, and wrote FPI to say: "We are still pinching ourselves in disbelief that we have a pied-à-terre in Paris!" The two retired ladies came to see us a week earlier just to ask if it were really possible under all the constraints and complications to find and purchase a property in Paris that suited their needs.
Will Faas, a new member to the FPI team of Property Consultants, batted 1000 when he found them a two bedroom apartment with a spacious salon in just 46 square meters on avenue Daumesnil in the 12th, two steps from the Métro, buses and a Monoprix. It was within their price range and although it needs complete renovation, it couldn’t be more perfect. All this took place within 8 days, from their first consultation with us to finding, negotiating and agreeing to purchasing the property. On their behalf, we will be signing the Promesse de Vente and the process for ownership will be on its way.
Stories with happy endings like this happen every week. It’s very rewarding for us to help make these dreams come true for so many who wish to broaden their lives by spending some of it in France.
Today’s issue is focused on the very practical side of what it takes to make a dream like this a reality: managing money. To own property in France, one must either have money or the ability to borrow it. That’s the reality. Today we have news from GE MoneyBank, one of our important lenders, part I of money managing advice, tips on creating a portfolio of valuable properties, and more, all to help you make money less of an issue and burden to reaching your goals.
Thanks to Imoinvest, there is a Leaseback property near Paris up for consideration and some hot rental properties in the center of Paris on display as well as and some bargains on the auction block.
Don’t miss learning about the Round Table afternoon in New Orleans on May 27th — we hope to have a good and enthusiastic group of would-be investors join us.
Editor, French Property Insider
P.S. Be sure to read all about yesterday’s Parler Paris Après Midi complete with photos by clicking here: http://www.adrianleeds.com/parlerparis/apresmidi.html
P.P.S. Are you a reader of Parler Paris, our free twice-weekly newsletter? If not, visit http://www.adrianleeds.com/parlerparis and if you’d like to pass it on to a few of your friends, it’s just one click away: http://www.adrianleeds.com/parlerparis/tell-a-friend/index.php
Volume IV, Issue 15, April 13, 2006
In this issue:
* Latest News from the European Central Bank
* Lending Criteria for Non-Resident Customers
* Making the Move and Mastering Money Matters, Part I
* Top Tips on Creating Your Overseas Property Portfolio
* One in Three in UK Considering Buying Property Abroad
* Something Great Comes from Something Bad: Living and Investing in France Round Table, New Orleans, May 27, 2006
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Aprs-Midi: May 9, 2006
* Hot Property Picks: Classic Paris Properties from Imoinvest
* Leasebacks: Chateau d’Orgemont, France, Paris / Ile de France, Cerny
* On the Auction Block: April 25, 2006
* Classified Advertising: Parler Paris Apartments
Latest News from the European Central Bank
By Philippe Vasseur, GE MoneyBank
As expected by analysts and economists, the European Central Bank (ECB) left its key interest rate unchanged at 2.5% at today’s governing council meeting amid increased economic growth and a worsening inflationary outlook. The ECB raised rates at its last monetary policy meeting on March 2 and it has never previously moved rates at two consecutive meetings. The Euro tumbled after European Central Bank CEO Jean Claude-Trichet shook analysts by saying that their expectations for a May interest rate rise did not matc
h the ECB’s view. "The pres
ent high probability which is given for an increase of rates in our next meeting does not correspond to the present sentiment of the governing council," he said in a press conference.
Trichet indicated that a tightening move at the June 6 meeting is more likely, even though this meeting takes place in Madrid as the ECB will have new information available by this time, including the latest quarterly growth and inflation forecasts. Trichet also added that ECB was engaged in a process of normalizing interest rates. "It is why we have increased rates twice. It is why perhaps we will increase rates in the future," he said. According to Trichet, euro zone rates are still "very low."
ECONOMIC GROWTH: The latest economic data indicate that euro zone growth is strengthening and broadening in the first half of 2006. Conditions remain in place for solid growth over the coming quarters. The euro zone is now growing at a trend around its potential rate of around 2%. Recent positive data suggest that the ECB’s decision to raise rates in March was justified, and that the central bank is right to focus on the overall trend in activity data rather than reacting to volatile quarterly or monthly numbers.
The euro zone recovery is now expected to spread to consumer spending, Trichet added. Risks to economic growth appear to be broadly balanced over the shorter term, while further ahead there are still downside risks relating to potential oil price increases and concerns over global imbalances.
INFLATION: Inflation is expected to stay above 2% in the short run and remain high in both 2006 and 2007. Risks to the inflation outlook "remain on the upside" Trichet said. These risks include further increases in oil prices, a possibly stronger pass-through of oil price spikes into consumer prices, additional increases in regulated prices and indirect taxes, and stronger than expected wage rises. So far the ECB has not yet identified any ‘second round’ inflation effects from the rise in oil prices, and wage growth has been moderate. But according to Trichet, it is vital that such wage moderation continues as economic growth picks up.
MONEY, CREDIT GROWTH: Trichet said strong monetary and credit growth continue to point to upside risks to price stability over the medium to longer term. The current rapid pace of M3 money supply growth is largely the result of the stimulative impact of the low level of interest rates.
FISCAL POLICY: Trichet said euro zone governments need to use the current economic upturn to cut their budget deficits more rapidly, "given the economic outlook, a faster pace of deficit reduction is necessary." Budgetary results for 2005 have turned out better than expected a few months ago, but budget projections for 2006 do not "correspond to the optimum."
LABOUR MARKET REFORMS: Trichet declined to comment on France’s labour market reforms which make it easier to make workers redundant but which has met with widespread protests. But the ECB is in favour of any moves to make labour markets more flexible: "all that goes in the direction of less rigidity goes in the (right) direction if the goal is to progressively reduce unemployment."
Editor’s Note: Philippe Vasseur is Head of International Mortgage Market in the International Mortgage Department at GE Money Bank in France. E-mail: email@example.com or visit
Lending Criteria for Non-Resident Customers
From GE Money Bank
Loan-to-value: Maximum 80% of the purchase price or property value, whichever is the lower (including Estate Agent fees):
* UK and Ireland Buyers: 80% maximum LTV
* Other EU Buyers: 80% maximum LTV
* Non EU Buyers: 80% maximum LTV
Minimum loan amount: 21,500 Euros
Minimum purchase price: 27,000 Euros
* First legal charge over the French property
* Lien or security on an investment (in France)
* Mortgage insurance cover via SACCEF (subject to conditions — please check with your GE loan officer for details)
* Bank guaranty (from a bank in France)
Types of mortgage programs offered: Interest-only and/or Repayment (variable or fixed)
Mortgage Term: 8 to 25 years – depending on the program
Loan arrangement fee: 1% of the amount borrowed subject to a minimum of 900 Euros
Location of property: Mainland France – excluding Corsica and French Overseas Departments and Territories
Method of payment: Monthly direct debit in Euros on all schemes from a French bank account held in France
Borrower’s term insurance: GE Money Bank requires all customers to take out borrower’s life insurance to cover 100% of the amount borrowed for the maximum contractual duration of the loan. Please note that a proper Building and Contents insurance is also required on the property.
Note: Conditions applicable as on 01/01/2005 to residential mortgages for individuals subject to GE Money Bank’s acceptance of mortgage application as well as term insurance cover acceptance for the amount borrowed. Documentation with no contractual value.
A property appraisal is carried out by GE Money Bank in most instances. The purpose of this appraisal is for internal risk assessment only and the results are not released to applicants.
GE Money Bank is a responsible lender and when considering an application for borrowing, all financial circumstances will be appraised.
Editor’s Note: For more information, visit
Making the Move and Mastering Money Matters, Part 1
By Adrian Leeds
It’s tough enough to manage your money when you’re a tourist traveling to a foreign country with a different currency. Imagine what it’s like to manage your finances when dealing in two currencies on two continents? That’s what you may be dealing with should you choose to spend any length of time in France or own property here.
Rate of Exchange
The first thing you must understand is the rate of exchange. The majority of the Foreign Exchange Market ("Forex" — buying and selling of world currencies) is done by the largest commercial banks based in five major centers of trading — London, New York, Zurich, Frankfurt and Tokyo. These banks set the rates based on minute-by-minute trading. Reported rates differ bank-by-bank and minute-by-minute. Rates for buying a currency differ from rates selling a currency.
The bad news for those earning U.S. dollars is that at the time of this writing, the current dollar vs. euro rate of exchange is approximately $1 = Euro .83 or Euro 1 = $1.21. Exchange rates fluctuate for a variety of reasons, however, it’s clear that your U.S. greenback is going to buy you less in France…for now. The good news is that should you make a property purchase in France, you will be hedging your bets by divesting your assets and investing in a strong currency.
Handling cash will be the easiest transition to make. You need only to become familiar with the euro notes and coins. To prepare for your trip over, you need only enough euros with you to get you from the airport to your final destination and a bit beyond, otherwise you risk paying high rates of exchange on more than is necessary.
You should be able to buy euros at any major bank in your city. Don’t bother with travelers’ checks unless you want the safety they provide if lost or stolen, because the French aren’t used to processing them and won’t likely accept them in most establishments. Also, avoid the airports and hotels exchange offices because of exorbitant transaction fees.
Credit and Debit Cards
Once in the city, the best way to get cash is via any one of the automatic teller machines (ATM) at almost all the bank branches and post offices using a credit card or debit card. Generally bank cards offer the most favorable exchange rates for changing small amounts of money, since credit card companies have access to better rates than individuals. Be careful when using the bank card if your home currency is falling — since the transactions are not converted instantly, there is a possibility that you will end up with a less favorable conversion rate a few days later.
Keep in mind that your withdrawal may be subject to a fee (about $1.50 – $2), so check with your bank before leaving home. The other point to note is that your bank may freeze your card if out-of-the-ordinary transactions (such as withdrawals in four different countries over the course of a week) appear, so keep a copy of your bank’s contact information on hand or notify them in advance of your trip. There are also limits to how much can be extracted in any given day, usually between $300 and $500.
If you want or need more than that, you can enter the bank and request a "cash advance" on the card. All banks in France will not know how to handle the transaction and others will have strict limits on what amount they will allow. Be prepared to show an ID, such as a passport and don’t be surprised if they flatly refuse you unless you are already a customer of the bank.
"Credit cards" differ from "debit cards" in that a credit card will charge interest on the amount advanced until it is paid, while a debit card extracts cash directly from your account. Also, credit cards have fees attached to foreign transactions which vary from 1% to 4%. If this information is not printed in your credit card agreement (often not!), phone the company and specifically ask what foreign transaction fees you can expect.
It is best advised to use your French credit/debit cards in France and your U.S. credit/debit cards in the U.S. to reduce transaction fees.
Online banking is very useful. Within 48 hours a foreign transaction will appear on your bank or credit card statement so you’ll know what rate of exchange you’re getting. From long distance you can often pay bills and transfer funds between accounts within the same bank. If you’re not banking with an institution that provides this service, consider making a move to one that does. The French banks now provide online service, but at a small monthly cost. U.S. banks provide it free of charge.
Editor’s note: Part II of Making the Move and Mastering Money Matters will appear in next week’s French Property Insider. To contact the lenders, Moneycorp or any other recommended resources made here, please contact French Property Insider at :firstname.lastname@example.org or click on http://www.adrianleeds.com/frenchproperty/consultation for more services.
Top Tips on Creating Your Overseas Property Portfolio
By Louis Mann
With ever increasing property prices in the UK and Ireland, it is little wonder that investors are looking further a field and becoming more
imaginative with their overseas property portfolios.
The emerging markets of Central and Eastern Europe are current hot spots, attracting a lot of interest with low entry costs and the potential for high capital growth.
However, the advantages and the security of more mature markets should not be overlooked. France is a great example. According to the annual French Property Market Report, published by the French property experts, VEF, France is still an exciting market with house prices set to rise by an average of 11 per cent this year.
VEF’s long term prediction for the market is healthy with prices set to perform over the 8-9 per cent p.a. rate over the next decade, which shows there is still plenty of room in the Gallic market for growth. This is reassuring news for investors looking for sustainability and no unwanted surprises to their portfolio.
However, perhaps the best part for many is France itself. You can buy your dream apartment or villa as a buy to let and you can also use it for your own holidays. Tips from VEF include looking into regions such as Burgundy, Languedoc, Loire and Pyrenees Atlantiques. With low cost flights to France becoming cheaper from most areas of the UK and Ireland access has never been easier.
France still offers an incredible diversity of property, be it old or new at a price range to suit most budgets. VEF has a charming luxury development called ‘Le Hameau des Pins’ set in the breathtaking Corbieres hills near the Mediterranean coast with prices starting from just £130,000. With private swimming pools and views of the nearby Cathar castle and vineyards, this offers excellent letting potential.
A concept which is becoming ever more familiar is the ‘leaseback purchase.’ This is a particularly attractive idea that has existed in France for more than 20 years. You buy a freehold new build property on a holiday complex (for example by the sea, on a golf course on in a ski resort) and you sign an agreement with an onsite rental management company for a minimum of 9 years for them to rent out your property.
Not only does the French state give you a VAT concession worth nearly 20 per cent but you usually receive a guaranteed rental income and you can use the property yourself. According to VEF, the number of investors from Yorkshire who are opting for this type of holiday investment property has increased by 47 per cent between 2004 and 2005.
VEF’s Jardins de Renaissance is a fascinating leaseback development in the historic town of Azay le Rideau in the Loire Valley. Fully furnished one bedroom apartments start from £70,200. Firstly, you receive a VAT rebate worth £13,759, then when built the annual guaranteed rental income of 5 per cent equates to £293 per month. Should you opt for a 25 year French mortgage with a 3.8 per cent fixed interest rate, your repayments would be £290.
Who knows the VAT rebate you receive could be put towards another property for your portfolio?
For investors with their eyes set on building their portfolio in Eastern Europe, buy-to-let apartments in Poland or Czech Republic make excellent sense.
UK-based investment property specialists Validus² give a pragmatic and honest approach in helping investors choose the right property for their portfolio. They assist you to identify what type of investor you are and how much risk you feel comfortable with.
Should you be looking more towards capital growth, they offer superb value off-plan apartments in Warsaw. One bedroom flats are available from just £19,000. By opting for a local Polish mortgage with a loan to value (LTV) of 80 per cent, you need a cash deposit of just £3,800.
Warsaw is set to become the sixth largest business centre in Europe and is experiencing a severe shortage in new accommodation. Property prices rose between 15 and 22 per cent last year, with similar figures expected for 2006. Although Polish wages are rising, they are still low and as a result rental yields are moderate at approximately 4 per cent p.a.
For a stronger rental income, Validus² is offering brand new buy-to-let apartments in Prague. As the property market is more experienced prices tend to be higher but Czech mortgages can be obtained with a LTV of 85 per cent. This means that a one bedroom apartment costing £47,000 can be purchased with just £7,050. A 25-year Czech mortgage at 4 per cent would cost £212 per month. The rental income is expected to be at least £270, so your nest egg in one of Europe’s most beautiful capital cities will actually pay for itself.
Louis Mann of Validus², has some sound words of advice for any future buyer of overseas property.
"There are key rules to follow to make your property investment as successful as possible.
"Take financing seriously – Look at local mortgages and leverage where possible to make the property pay for itself.
"Do your homework and seek expert advice from reputable companies.
"Make an exit strategy. If and when you sell, what are the tax implications? Are there benefits to holding on to your property for longer to avoid local capital gains tax?
"Don’t forget exposure to currency fluctuations. Forward purchase where necessary."
One in Three in UK Considering Buying Property Abroad
By Stephen McNamara
Banking Business Review Online
According to UK retail lender Barclays, 37% of British people are considering buying houses abroad, however many underestimate the cost involved.
Although some British people are in-tune with overseas property prices, many are underestimating
the price tag on properties in popular destinations such as Spain, France, Italy and Portugal, according to new research commissioned by Barclays.
Just under half (48%) of respondents think that the cost of a property in Spain is under £100,000. However the average is £105,000 and a three bedroom villa in the Costa del Sol starts at around £282,000.
Meanwhile, two-thirds (65%) estimated that the price of a property in France would come in at under £150,000, but according to Barclays, British people would have to have a budget of at least £166,000 to buy the average French home.
Commenting on the findings, Suzanne Clay, head of European Business Development at Barclays, said: "The rush to buy property in the sun shows no sign of abating, but our research suggests that some people perceive house prices in popular destinations to be cheaper than here in the UK. This is not necessarily the case, so they need to plan their finances accordingly."
The Barclays-commissioned study has been published to support its campaign to make foreign home seekers aware of its suite of mortgage products designed for overseas purchases.
The company says it has the largest presence of any UK bank in the European mortgage market and it has newly launched a range of packaged accounts specifically designed for British people living in or owning properties in popular continental locations.
Something Great Comes from Something Bad
Excerpt from Parler Paris Special Sunday Edition
Sunday, April 9, 2006
Something good usually comes as a result of something bad. First, I’ll give you the good news, then the bad news, then…the great news!:
The good news is that tonight at Paris Soirées, Tim Smith, New Orleans engineer and photojournalist on assignment here in Paris, is going to show and tell his experience of life in New Orleans before and after Hurricane Katrina.
I’m not sure I can bear to see the presentation, especially after last Sunday night’s talk when I had some of the audience in tears from the few photos I showed. New Orleans is my home town. I saw the house I grew up in one block from the levee that broke turned to a skeleton of its former self. My sister’s house was destroyed by the flooding, taken down to the brick and studs (now 9 months later rebuilt, brand new and lived in).
It’s not unusual to want to avoid seeing the disturbing images. In fact, word has it from native New Orleanians, that most of the U.S. is avoiding the town as a tourist destination, even though the French Quarter looks more beautiful than ever and most of the tourist destinations are up, running and clamoring for business. It’s pretty sad, since the only way we’re going to get New Orleans thriving again is by supporting it wholeheartedly; bringing our hard-earned bucks back to its hotels, restaurants, clubs and tourist services.
So, the bad news is that all the registrations we have for the New Orleans Living and Investing in France Conference scheduled for May 26 – 28th are from New Orleans residents who don’t need accommodations…and that means we cannot fulfill our contract with the Sheraton Hotel. The Sheraton New Orleans was kind enough to understand and isn’t holding us to the promises we made to fill their rooms. (Kudos to the Sheraton! Please support them whenever possible!)
The great news is that we are still devoted to providing this valuable service to all those willing to join us. We’re just doing a little restructuring of the conference to give you as much of an experience as we can for as little cost as possible and make it worthwhile for many others to attend.
Here’s the new plan that we think you will find very exciting and can’t afford to miss!…
I’ll be there to personally host the "Living and Investing in France Round Table — An Afternoon with Adrian Leeds" on Saturday, May 27th, 2006 in a private room at Tujague’s Restaurant on Decatur Street just a block down from Jackson Square in the heart of the historic French Quarter.
Tujague’s reopened last November and is open for dinner daily serving their traditional Creole menu as well as a new à la carte menu. For over 143 years, as New Orleans’ second oldest restaurant, Tujague’s survived to bring all of us a long-standing tradition of New Orleans fine dining. Katrina temporarily stalled them, but like other New Orleanians who love their city, Katrina did not bring them down! The Tujague’s message is that "Now, more than ever, working together we will recapture the spirit that makes New Orleans unique."
We are very lucky, too, that our Projects Manager (and past Editor of French Property Insider), Schuyler Hoffman, will be with me to manage the session and alongside, assisting, will be Erica Simone Leeds (you know her as my daughter who is also a frequent contributing photographer to Parler Paris).
The Round Table Seminar is going to work like this: We’ll sign you in beginning at 2 p.m. and promptly at 2:30 p.m., we’ll start the power-packed intense instructional four-hour seminar. Tujague’s is kind enough to provide a New Orleans style coffee break (authentic coffee and chicory) half-way into the session to keep us all attentive and ready to take it all in.
During the next few hours, I will be providing an overview and introduction to each the following important topics:
* Obtaining the Right to Be in France!
* Buying and Owning Property in France!
* Profiting from the Leaseback Program, Corporate Housing in Paris (CHIP) and Other Investment Property Programs
* How to Rent Your French Property for Profit!
* Finding Your Dream Apartment in Paris or Home in the Country!
* Getting a Mortgage!
* Minimize Your Tax and Maximize the Benefits!
> * Redu
cing Your Currency Exchange Risk!
* Crossing the Cultural Divide!
* And we’ll end with a Q and A Session so, you won’t miss a thing.
That means we’ll spend about 20 minutes on each topic. We’ll be working from the very same presentations our professionals show during our three-day conferences, but just a more abbreviated version!
We are completely confident that these few hours will provide enough information to get you on the right road in the right direction for a successful investment and life in France!
The Round Table Seminar also includes some of the same benefits as the three-day conference…an official Canvas Tote Bag with Free Gifts from Paris and lots of Reference Materials to take home with you.
The day won’t end at 6:30 p.m., not unless you want it to. You will have the option of staying with us for Cocktails and a Celebration Dinner at Tujague’s starting at 7 p.m. Plus, we will be inviting all Parler Paris readers from New Orleans to join us to really party down!
Here’s the menu:
• Shrimp Remoulade
• Louisiana Gumbo
• House Specialty Brisket of Beef with Tujague’s Special Creole Sauce
• Choice of Main Course: Fish, Meat, Chicken
• Banana Bread Pudding
• Wine and Coffee
Are you drooling yet? I know, I am! I just LOVE that Banana Bread Pudding!
As I promised, earlier, we’re going to make this very easy and very affordable for you. Check out how inexpensive it will be for you to join us:
One person at the seminar with a coffee break is only $147! When was the last time you met with a consultant for four hours for such little money? Probably never! And if you stay for cocktails and dinner, just add on $50, for a total of $197! Not much for all that, is it?
And if you bring a spouse, partner or even a friend, it’s even more attractive. Two people can participate in the seminar with a coffee break for just $267 — a savings of $20. And if you both stay for cocktails and dinner, just add $100, a ridiculous total of only $367!
New Orleans being such a party town…it just wouldn’t be right if we didn’t invite your friends or family to join us, not to mention all our Parler Paris readers. So, for just cocktails and dinner, without the seminar, the all inclusive menu with wine and coffee is only $67! For such a special occasion, we’re sure to have a big turn-out and "laisser les bon temps rouler!"
So, if you’ve ever dreamed of moving to France, creating a new life in Paris, purchasing a "pied-à-terre" of your own or perhaps investing in other property in France, this amazing afternoon is a very small investment to make that dream come true, sooner than you might have imagined.
Just look at what past attendees have had to say about it…
"Have got to tell you the conference was fantastic — best $’s we could have spent — learned so much over and above what we already knew (which I thought was a lot) — absolutely the best deal one could find."
"Excellent! The information gained at the conference was invaluable. Am incredibly impressed with the caliber of speakers."
"Better than my wildest expectations! I have gained a tremendous amount of knowledge and contacts."
"The course is as good as promised…no, better! Thank you!"
"I’m SO glad we came to this seminar. Many thanks."
Now you know why I am so confident you will not want to miss this opportunity for such a small investment.
I’ll be there along with my favorite and most experienced staff to welcome you and help you make your dream to live and invest in France come true.
Don’t miss it. Visit the site for more information:
Round Table — An Afternoon with Adrian Leeds
Property Consultation, Search and Relocation Solutions
Visit our new site!
Let French Property Insider expert property consultants find your dream home in France for you. We consult with you to help you make the best decisions, ferret out the finest properties to meet your criteria, schedule the visits and accompany you, negotiate with the agencies and owners, recommend the notaires and other professionals, schedule the signings and oversee the purchase with you from start to finish! You could never do it so easily on your own. Let us take the time and effort off your hands.
FPI Offers More Relocation Solutions!
Moving to Paris? Our experienced relocation expert will make your move easy and hassle-free. We offer complete property and relocation services normally only provided by employer hired relocation firms…but at a price much more affordable for individuals.
Download Complete Brochure
TODAY’S CURRENCY UPDATE
Visit the FPI Web site and click on the link on the left panel or click here for Currency Convertor by Moneycorp Global Money Services: http://www.adrianleeds.com/frenchproperty/insider/moneycorpconvertor.html
for up to the minute conversions of all major currencies.
Compare currency values easily and quickly by visiting:
The charts below are updated every ten seconds.
The prices shown are "inter bank" exchange rates and are not the rates that you will be offered by Moneycorp. Your rate will be determined by the amount of currency that you are buying. Please speak with an Moneycorp
dealer or your consultant for a live quotation.
Parler Paris Après-Midi
NEXT MEETING: May 9, 2006 AND EVERY SECOND TUESDAY OF THE MONTH, 3 p.m. to 5 p.m.
This is your opportunity to meet every month, often with local
professionals who can answer your Working and Living in France questions. You are invited to come for drinks and share your questions and comments about what it takes to create a life here, own property and enjoy what France has to offer. It is also an opportunity to network with other Parler Paris readers.
Upstairs at La Pierre du Marais
96, rue des Archives at the corner of rue de Bretagne, 75003 Paris
Métro Lines 9, 3 et 11, stations Temple, République or Arts et Métiers
HOT PROPERTY PICKS: Classic Paris Properties from Imoinvest
Each week French Property Insider features a range of properties which we believe are on the market at the time of writing. These properties are featured in order to give readers a sample of what is currently available and a working example of prices being asked in various regions of France and districts of Paris.
As we are not a real estate agency. These properties do not constitute a sales listing. For those readers seriously interested in finding property in Paris or France. you can retain our services to do the whole thing for you. For more information, visit http://www.adrianleeds.com/frenchproperty/insider/propertyconsultation.html
*** MARAIS, 3rd Arrondissement
France, Paris / Ile de France, Paris
Studio 40m² to 40m² Euros 298,530 to Euros 298,530
EXPECTED RENTAL INCOME UP TO: 5.00%
A TWO STEP WALK FROM THE MARAIS
There at the corner, you’ll encounter this XVIII century old building, very well maintained and thoroughly renovated to accommodate a very clean lobby and good standard facilities. Inside, on the 4th floor, there is this large and very beautiful studio designed by an architect, with nice finishes and plenty of light owing to its east-west orientation and to a 3m high ceiling. It is equipped with a large bath installed in a room designed as in a hotel. Also, a kitchen, a so called "bar américain," a mezzanine nesting a cosy 5m² couch and, at the basement level, a tiny private cellar. In addition to these 40m² surface area. the studio comprises an adjacent 5.5m² very clear room, on the other side of the doorstep. Outside features include a very animated and fashionable district, cafés, trade, stores. Close to the Marais, the boulevard Saint Martin, the public garden of the Temple, Châtelet les Halles, boulevard de Sébastopol.
*** POITOU, 3rd Arrondissement
France, Paris / Ile de France, Paris
Studio 30m² Euros 246,100
EXPECTED RENTAL INCOME UP TO: 5.00%
STUDIO IN AN ANIMATED DISTRICT
A very nice studio with separate kitchen, electric heating, shower, double paned windows, high ceilings with wooden beams throug
hout, oriented to the south on the 1s
t floor overlooking the courtyard and a street.
*** RASPAIL, 6th Arrondissement
France, Paris / Ile de France, Paris
Studio 14m² Euros 128,400
EXPECTED RENTAL INCOME UP TO: 5.00%
STUDIO IN THE HEART OF PARIS
Located on boulevard Raspail, only a few steps from the church Notre-Dame des Champs, in a "Haussmannian" building. This 14m² (12m² loi Carrez) studio is perched on the 7th floor (no lift) and offers a sunny bird’s eye view. Fully renovated, it comprises an equipped kitchenette, a shower and separate closet, central heating, digicode, interphone and concierge.
LEASEBACK NEWS FROM IMOINVEST
RESIDENCE LES LAUREADES SYMPHONIE
France, North / North East, Lille
Studio 18m² to 20m² Euros 56,000 to Euros 77,000
GUARANTEED RENTAL INCOME UP TO: 4.50%
LOW COST AND MAXIMUM RETURN IN LILLE
Excellent leaseback apartments suitable for students, professionals and/or tourists priced from a shocking Euros 56 000 including parking and furniture! Located near 4 prominent universities, 13 engineering divisions, several business schools and the internationally accredited School of Journalism. This is a cultural centre where the National Orchestra of Lille performs, the Lille Opera is found as well as the Carnival of Lille. This is an extremely green town featuring five vast parks with over 80km of strolling paths accompanied by the Roubaix Canal.
The residence is approximately 15 minutes from the ‘Lille Moulins’ home to over 15,000 international students and only 200m from the Schools of Law and Medicine. The residence offers services including breakfast, reception, concierge, fitness room and laundry facilities. The residence is very well positioned close to all amenities and near to the airport and two train stations connecting Lille to the rest of France and Europe. Located approximately 56km from Valenciennes, 75km from Dunkerque, 120km from Brussels and 220km from Paris.
Discover very attractive prices for Lille, an area that is known for beautiful pink brick houses and authentic ambiance plus high demand on the rental market and a great rental return. There are strong management and developer teams backing this development, making for a sound investment with attractive rental income guaranteed for a minimum of nine years. VAT will be refunded for a savings of 19.6% of the sale price.
Next sessions: April 25, 2006, 1:30 p.m.
Notaires de Paris
Place du Châtelet
12 avenue Victoria
Additional information on Les Ventes aux Enchères des Notaires can be found on the website at http://www.encheres-Paris.com/ Though the site has a button for an English version, it isn’t reliable to work.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
|2 rooms 58,80 m²
33 rue Saint Ambroise
75011 PARIS 11th
Opening Bid: 225,000 Euros
Deposit: 45,000 Euros
|3 rooms 80,41 m²
115 rue de Vaugirard
75015 PARIS 15th
Opening Bid: 335,000 Euros
Deposit: 67,000 Euros
|2 rooms 37,75 m² rented
10 rue Bisson
75020 PARIS 20th
Opening Bid: 33,975 Euros
Deposit: 14,300 Euros
th="150" height="192" align="left">3 rooms 37,90 m&su
|2 rooms 36,40 m² rented
10 rue Bisson
75020 PARIS 20th
Opening Bid: 61,880 Euros
Deposit: 13,650 Euros
|2 rooms 30,55 m² rented
10 rue Bisson
75020 PARIS 20th
Opening Bid: 45,825 Euros
Deposit: 10,400 Euros
|2 rooms 28 m² rented
208 rue du Faubourg Saint Denis
75010 PARIS 10th
Opening Bid: 35,000 Euros
Deposit: 7,000 Euros
|2 rooms, 28,9 m²
6 rue de Jarente
75004 PARIS 4th
Opening Bid: 135,000 Euros
Deposit: 27,000 Euros
|Studio, 33,1 m² + parking
9 rue Desbordes Valmore
75016 PARIS 16th
Opening Bid: 192,000 Euros
Deposit: 38,400 Euros
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HELPFUL CONVERSIONS FOR REAL ESTATE
1 square meter = 10.7639104 square feet
1 hectare = 2.4710538 acres
For more conversions, refer to: http://www.onlineconversion.com/
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