Country Cousin or City Slicker?
|Remodeled Country Farmhouse Just Outside Paris|
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French Property Insider
Bonjour French Property Insider Subscriber,
The sun is gloriously out and my sights are set on the beautiful stone building that houses the Mairie of the 3rd Arrondissement as I sit at the café across the street watching the Paris world go by. The Mairie offers free WiFi affording me the opportunity to both write you and be a part of the city at the same time.
An urban lifestyle vs the comfort of country living is discussed in our first article, after having spent much of yesterday discussing the pros and cons of living in Paris compared with a slower-paced, more spacious, greener environment in the country with an American couple seeking a new life in France. It can be a tough dilemma, but there IS a solution — a way to have it all.
I suspect we’ll be discussing these issues at length at the Working and Living in France Conference next weekend here in Paris. Leaseback investment properties are also on the table for discussion, in today’s issue, comparing France and Spain. The British are buying heavily in both markets these days — so this gives you an interesting look at what makes France a worthwhile bet.
Biking is bigger than ever, thanks to the city’s plan to convert pollution-producing cars to clean-air bikes. “Paris Breathes” is halting traffic to bikers and roller-bladers at specific times and places. Make use of the schedule and the maps provided here.
This week, the film industry is convening in Cannes for the 58th International Film Festival. Wouldn’t we love to own an apartment in Cannes to keep rented during this period when hotel rooms and accommodations are at their peak prices? Scroll down for what’s on at the Festival and a bit of history about Cannes we don’t usually bother
We’ve added three new Paris vacation rental listings thanks to Paris-Be-A-Part-Of-It, so visit http://www.adrianleeds.com/parlerparis/apartments to see a loft in le Marais, a boat on the Seine and a view of Notre Dame!
In the property listings, discover three dream homes in Cannes for sunny, chic living that can earn you some euro bucks while the festival is in full swing…and there’s a new Leaseback listing in the Venice of France near Marseilles to take note of.
For those of you who like to keep up on who visited us at Parler Paris Après Midi, see the report from Tuesday’s meeting at
Editor, French Property Insider
P.S. Conference Projects Manager, Schulyler Hoffman, arrives in Paris tomorrow to get ready for the best Working and Living in France Conference ever…so, if you’re still waiting to decide, don’t! Register now — there’s still a few seats left: May 20 – 22, 2005, Paris. Click here now to secure your place.
P.P.S. Coming soon, the May 15th issue of the Parismarais.com Newsletter (monthly and free!), written by yours truly, with all that’s going on in Le Marais. Be sure to subscribe now by visiting http://www.parismarais.com/parismarais-newsletter.htm
Volume III, Issue 19, May 12, 2005
In this issue:
* Weighing the Pros and Cons of City Life vs Country Comfort
* Comparing Investments in France and Spain — the Leaseback Scheme
* The Paris Paths to Biking
* Springtime on the Streets of Paris
* You Cannes Do It — The Film Festival
* Opening Up Cannes — the History
* Today’s Rates of Exchange by Moneycorp Currency Brokers
* New Great Rental Apartments
* Hot Property Picks: Cannes Luxury Living
* Leaseback News: New Listing in French Venice
* What’s On the Auction Block
* The Conference from the Original Creators
* Book Property Services Before June 1 and Save
* Getting a Mortgage is Easier Than You Think
* Take Advantage of Your Insider Discount
* Things You Need to Know
* Classified Advertising: Vacation Apartments
City Slicker or Country Cousin
By Adrian Leeds
France offers as many different types of homes and lifestyles as the United States. Living in a pied-à-terre in Paris is every bit as urban as a studio in New Y
ork City. An apartment in old Nice reminds me of a bungalow in South Beach Miami with the sun overhead and the shore just steps away. Head to the snowy-peaked Alps for a ski or a hot toddy in front of the fire under an A-frame and you might think you’re in Aspen, Colorado.
I’m not suggesting that France offers twin environments, because I can assure you, the moment you step foot on French soil, you’ll know you’re in “un autre monde.” But, if you’re indecisive as to whether you’d rather have a foothold in the City of Light in a space one-fifth of what you’re used to or a big house in the country surrounded by land where you can plant a garden, then you might find this a pretty tough decision.
The British buyers are overwhelmingly more interested in the countryside. At the Vive La France French Property Show every January in London, the contrast of the British interest in France vs the American one is striking. Paris seems virtually non-existent for the British. Almost all of the agencies promoted properties outside Paris. The Eiffel Tower as the symbol of Paris was hardly visible.
This may be a broad generalization, but my personal theory for this is that while the British lack space and yearn for the it, Americans lack urbanity and yearn for it. With the exception of the Côte d’Azur and Provence, Americans think of Paris first and often, only. I’m guilty as charged.
As recently as yesterday, a couple from a “Big Sky” state living in a 4,500 square foot home was wrestling with whether they would be happier moving to a house with some land and garden just outside the “Périférique” of Paris or a large apartment (as large as they could afford) inside Paris. The idea being that as long as they lived on a train line, they would have immediate access to the city and all it has to offer, but would have the benefits of space for their family of five.
We spent a couple of hours debating the pros and cons of each scenario. They admitted, that while they have lots of space, they actually only use a small portion of it. With four living rooms, only one was really seeing any action. With lots of storage space, things they didn’t need were just collecting dust. And with all that isolation, here they were soaking up communing with humanity here in Paris. Hence, the yearning for a different lifestyle.
I question the true advantage of living just outside the city. It would be difficult and almost impossible to live without at least one car among them, trains or not. That adds expense and hassle for newcomers (ask anyone who has gone through the hoops to get a French driver’s license!). If you want to take the care into the city, expect traffic jams, parking difficulties and fees. If you take the train in and out of Paris, expect to live by the schedules and possibly getting stranded for overnight stays or expensive taxi rides home. All this leads to rarely taking advantage of it at all if it becomes too much of a big deal.
As newcoming Americans, with little French language under their belts, living isolated from other English-speakers may lead to loneliness and make adapting to their new environment even more difficult. There are, however, lots of suburbs teeming with Anglophones — St. Germain-en-Laye, Neuilly-sur-Seine, Boulogne-Billiancourt, for example. And these suburbs can certainly help bridge the gaps, all of them accessible by RER offering more space for less cost per square meter.
Of course, France is one of the most beautiful countries in the world and living in the countryside isn’t as culturally void as in other places. Anyone who lives in Provence, the Dordogne, Normandy, etc., etc., will tell you that there is no shortage of culturally rich things to participate in (all the arts exist there) and the cuisine can be “haute” to the hills at much lower prices. I’ve never visited a part of France I didn’t like, one more interesting and beautiful than the next, each with its own personality and regional history, each having its own merits. Life seems idyllic in these places, surrounded by lavender and sunflower fields, cooled by the woods, rivers and streams, inhabited by salt-of-the-earth folks.
But, there’s nothing quite like being in the heart of Paris, where the passion for life is pumping through your veins at the speed of light. You understand, this is the opinion of an urbanite like myself, and not everyone gets as much of a charge from the pace of city life. But, after much discussion, considering the nature of the Americans coming to France for their first adventure…our conclusion was to find a large apartment with a “chambre de bonne”(maid’s quarters, normally on the top level of a Haussmannian building) that their 18-year-old would love and later would be a revenue-generating studio apartment rental, hopefully something with a garden or overlooking a park or garden, and somewhere within the walls of Paris. Later, they could travel all over France and pick a spot for a country home to retreat to on weekends and summers.
So, where will we look? Montmartre for views…the 16th and 17th for space and gorgeous Haussmannian buildings near parks…even off-the-beaten-track spots like Au Butte aux Cailles where gardens are possible. I recalled author, Harriet Welty Rochefort’s 100 + ground level apartment we wrote about in November of 2003, in the 20th near Place Gambetta with its 185 square meter private garden…that she bought for a lot less than you’d expect.
And we know it’s possible to have it all…with some forethought and effort to help the Country Cousin become the City Slicker, at least for a while, and happily.
Comparing Guaranteed Rental Schemes on Property Investment in France and Spain
Mon, 09 May 2005 15:11:03 BST
French leaseback schemes are not very flexible but offer great long-term investment opportunities. Spanish schemes are more suited to holiday home owners, but there are few long term guarantees.
Guaranteed rental schemes on overseas property can be foolproof investments, offering a cast-iron rental income for an agreed number of years with a minimal amount of bother. But investors should look beyond the headline rental income offered per year, warns property investm
ent specialist Assetz.
The French Leaseback scheme can be particularly good for long term investors, but can also be inflexible — many schemes suit people whose primary objective is to own a holiday home to use for a few weeks a year and to have the mortgage subsidized, and all the hassle taken care of by a professional management company when they are not there. However many other schemes have no personal use allowed and are pure investments, or taking personal use reduces the rental income too greatly to be attractive.
Introduced by the French Government twenty years ago, French Leaseback seeks to generate tourism by increasing the quantity of good holiday accommodation in locations such as the Cote D’Azur, the Alps and Paris. It enables investors to purchase a freehold property, which they then lease back to a pre-selected property management company, earning a guaranteed rental income for at least 9 years. There are also schemes that specialize in corporate lets rather than holiday lettings and these often produce higher rental incomes. However, the flexibility of a given scheme is the key issue for many investors who like the scheme and want to have some use of the property. Stuart Law, Managing Director of Assetz explains,
“French leaseback ties investors in for a minimum of nine years, but realistically 20 years should be assumed when buying, during which time they are likely to get no use from the property if they want to achieve yields of 5 — 6%, otherwise expect yields of 3-4% if you want some use of the property. Although the number of weeks owners want to take personally per year can usually be chosen at the start of the contract, this can not then be easily renegotiated for the rest of the initial 9 years term. Also, if an investor wants to sell their property before the lease is finished, the buyer would be obliged to see through the rest of the contract.”
Another thing to watch for generally in leaseback schemes is the quality of the management company — rentals are guaranteed by this company and not the government so ensuring that the rental company is sound is very important for a hassle-free future — this leaseback scheme ‘quality filter’ is a unique service provided by Assetz International rather than them just selling all the schemes available as most agents do.
On the plus side, investors who are comfortable with a long-term investment commitment will benefit from a 16.4% discount on the property price, since the French Government provides a VAT cash back upon completion. Also, while the property is being leased back to the management company, they are responsible for its maintenance, leaving owners with minimal annual costs and involvement.
Investing in a French leaseback can be financially rewarding — for instance if a 20% deposit was put down on a property giving a 5.5% annual return the mortgage would be fully paid off in about 20 years and this would give the investor an annual rate of return of over 9% compound growth per year on their deposit even if property prices were static for the 20 years — total returns of 15% plus are possible if property went up 7% per year for the 20 years. This is clearly very attractive in world of low interest rates and poor stock market returns.
Some buyers are beginning to see other opportunities in Leaseback schemes — by combining retirement equity release and the leaseback schemes some older buyers are seeing the opportunity to get 10% plus income on capital in a fairly safe way and avoid inheritance tax by releasing equity from their own home to help a child put down a 50% deposit on the leaseback property. The son or daughter then pays the balance of the mortgage off as a savings scheme and maybe gets some use of the property and owns the property outright in perhaps 10 years and the parents get the 5% income from the rental which is actually 10% return on their deposit.
Spanish guaranteed rental schemes are generally considerably more flexible, making it a better choice for investors looking for a flexible holiday home with lots of use first and foremost, rather than a long-term investment with fixed income.
Stuart Law comments: “The Spanish guaranteed rental schemes that we are seeing coming onto the market, and indeed in some other countries too, allow owners to use the property whenever it is available but only provides investors with one to three years rental income guaranteed. They do however usually provide a minimum level of rent guarantee which is not capped and in fact can often be bettered if the property rents well — the opposite of the French scheme which offers a fixed rental income regardless of how well the property lets.
In addition the Spanish schemes we are seeing often have close ties with the developer one way or another so the company giving the rent guarantee may well have received a subsidy from the developer and this would be built into the purchase price of the property. Spanish schemes should be seen as a safe way of getting started on rental income from your property but they are not necessarily long term solutions. The one exception is the new Pierre et Vacances schemes that now operate in Spain as well as their French homeland. Unfortunately these leaseback schemes in Spain are capped rental income at very low rates, typically 3% and do not offer any use at these rates, or very limited use at much lower income levels of 2%.
“In today’s busy world both of these managed schemes can be a very sensible way for people to get involved in overseas property ownership and rental without quitting their jobs but investors should always consider the extent of their commitment by dealing with a highly experienced Leaseback advisor like Assetz International before signing on the dotted line.”
Editor’s Note: To download the latest French Leaseback Report, written by John Howell, of John Howell and Co., London, click here:
The username is: fpisubscriber
The password is: paris1001
Parisians have access to 314 kilometers of bicycle paths inside Paris and 23 km in the Boulogne and Vincennes woods. At the same time, temporary operations to stop traffic
on some streets are continued. These streets are reserved on Sundays and public holidays for pedestrians, cyclists and roller-blades.
The first phase of the cycle plan has focused on the main axes of the capital, and a more rational network has been set up using a North-South itinerary (Porte de Pantin / Châtelet / Porte de Vanves) and an East-West itinerary (Bois de Vincennes/Concorde/Bois de Boulogne).
A No-council commission of elected representatives, technicians and associations has studied them. It includes bypass links and a vicinity networking to connect districts.
Today, 314 km of bike paths are available.
Click here to see the map of the bike paths (french version)
Following success for several years on, temporary operations to stop traffic on some streets are continued. These operations are now called “Paris respire” (“Paris breathes”). The following tracks have been reserved for pedestrians, cyclists and roller-blades on Sundays and public holidays:
* all year round, 9 a.m. to 5 p.m.: the river bank traffic lanes:
- right bank, from Quai des Tuileries(Paris 1) to Charles de Gaulle bridge (Paris 12)
- left bank from Quai Anatole France (Paris 7) to Quai Branly (Paris 7).
* all year round, 10 a.m. to 6 p.m.: the Mouffetard area (Paris 5)
- rue Mouffetard
- rue Descartes
- rue de l’Ecole Polytechnique
- rue de Lanneau
- place Marcelin Berthelot
- rue de Cluny
* from March to November, 10 a.m. to 6 p.m.: the approaches to the Luxembourg garden (Paris 6)
– rue Auguste Comté, from rue d’Assas to the east side of avenue de l’Observatoire
- rue des Chartreux
- rue Herschel
- avenue de l’Observatoire:
East side: from rue Auguste Comté to boulevard Saint-Michel
West side: from rue Auguste Comté to rue d’Assas.
* all year round, 10 a.m. to 1 p.m. (Paris 9)
- Rue des Martyrs
* all year round, 10 a.m. to 6 p.m.: around Canal Saint-Martin (Paris 10)
- Quai de Valmy, between rue LYess-Blanc and rue des Vinaigriers
- Quai de Jemmapes, between rue LYess-Blanc and rue de la Grange-aux-Belles
* all year round, 10 a.m. to 2 p.m. (Paris 18)
- rue du Poteau
* all year round, 9 a.m. to 6 p.m.: Bois de Vincennes
– avenue du Tremblay, entre l’avenue de Nogent et la route du Champ-de-Manoeuvre
- avenue de la Pépinière
- avenue de Fontenay
* all year round, on Sunday and Saturday, 9 a.m. to 6 p.m.: Bois de Boulogne
– avenue de la Reine Marguerite, entre la route du Point-du-Jour à Suresnes et la route de la Grande-Cascade
- route de l’Hippodrome
Printemps des Rues
May 28th and 29th Free Outdoor event
For all those dreamers among you who love to be entertained, rendezvous on the Canal Saint-Martin for a new edition of the “Printemps des rues” festival…
Street artists, circus performers, dancers and musicians await you for a popular, convivial and festive get-together. You’ll come across unique and original performances, new art forms and up-and-coming talents.
Practical information Canal St. Martin, 75010 PARIS Métro: Richard Lenoir
International Film Festival at Cannes
May 11 – 22, 2005
The greatest festival in the world devoted to the cinema. The Festival de Cannes presents a wide range of films and events (which can be presented or not by the official organization of the Festival de Cannes).
Cannes is the international capital of motion picture arts. Every year, the Festival International du Film is a major crossroads for the film industry. A total of over 30,000 cinema professionals, including distributors, producers, directors, actors, technicians and the media, and over 200,000 people, meet in Cannes for 900 screenings at the Palais and numerous cinema events. The Festival keeps you informed on travel arrangements and available accommodation.
The Festival is a unique place for meetings and cinematographic discoveries. The success and the development of the Festival have contributed to change the Film Village in a large town in which you can easily get lost: we accredit 30,000 professionals, 1,000 of whom are authors/directors, 4,000 distributors, 5,000 producers and 4,000 journalists.
For 12 days the Cannes film festival will turn the city once again into the world capital of cinema.
The famous Boulevard de la Croisette will take up the festive rhythm, with the percussion of the photographers’ flashes, the ballet of the limousines, the famous feet on the steps, the many events and the throngs of the curious hoping to catch a glimpse of the stars.
But away from the big names, the festival of Cannes also attracts 35,000 film professionals, 4,000 journalists and more than 200,000 tourists to the town — all of whom need to be fed, accommodated and inf
A few figures to put the enormous scale of the event into perspective: the Hotel Majestic, operated by the Groupe Lucien Barrière, makes 15% of its annual turnover during the 12 days of the festival.
During this period, the hotel’s staff rises from 300 to 600 people, 10,000 evening dresses and dinner suits are sent for cleaning, and 500 shirts and pairs of trousers are washed every day…
In the kitchen, activity reaches fever pitch. The figures for kitchen and bar supplies during these twelve frenzied days are scarcely believable: 50 kg of caviar, 800 kg of crayfish, 2 tonnes of lobster, 350 kg of foie gras and 10,000 bottles of champagne…
For more information:
Office du Tourisme de Cannes
This story begins in 200 BC. Our ancestors in Cannes, the Oxybians, quarreled with their neighbors living in Nikaia (Nice) and Antipolis (Antibes) who, in turn, called in Roman troops for support…
The Romans weren’t crazy after all!… Without hesitation, the Romans crushed the Oxybians, sold their prisoners into slavery, recovered their riches, transformed the little harbor into a Roman trading center, entrusting it to Phocaean Greeks – who had founded Marseilles – and, to mark their victory, destroyed the little town of Ægitna.
This is one version of the origin of Cannes, according to local historians. There is another that claims that, to protect themselves from the last Oxybians and their Ligurian allies, the people of Marseilles built a fort on the hill of Le Suquet, which they renamed Castrum Marsellinum (the fort of the people from Marseilles)… The local population did not appreciate this name and, since there were many reeds (canna in Latin) growing at the foot of the fort, they called it Castrum Canoïs, a name that did not appear officially until 1619 as Canes.
In fact, we should probably listen to our common sense and look at the Indo-European root kan, meaning summit or hilltop. The highest point in Cannes is the hill known as Mont-Chevalier, or by the Provençal name of Le Suquet, meaning summit, where the Abbots of Lérins built their castle, of which a few elements remain, including the keep… (cf. Le passé antique de Cannes, by G. Vindry).
In short, after the Pax Romana, Cannes experienced the turmoil of the Barbarian invasions. In the 5th century AD, the monk Saint Honoratus and seven of his disciples founded an abbey on the Isle that bears his name today, while, on the neighboring island, his sister Marguerite also founded a convent shortly thereafter. The Abbey of Lérins would become famous throughout the Western world.
The territory of Cannes was donated to the Abbey of Lérins c. 1000. Despite this saintly protection, the Middle Ages were difficult for the people of Cannes, with periodic invasions by Saracens who came to steal gold, wine and women. To make things even worse, the region was regularly devastated by soldiers who came and went through the countryside on the way to wage war in Italy, France or Spain – a little game that lasted until the early 19th century!
Until the end of the 15th century, Cannes belonged to the Counts of Provence. But in 1480, with the death of “Good King René,” Duke of Anjou and Count of Provence, he was succeeded by his nephew, Charles du Maine, rather than his grandson, the Duke of Lorraine. The French King LYess XI settled the matter by paying the Duke of Lorraine to renounce his inheritance and obtaining that Charles bequeath Provence to him… The very next day, Charles du Maine died of indigestion in Marseille…! Provence – and with it Cannes – had become French…
The future Riviera remained wisely on the sidelines of the turmoil of the Revolution. The region was already greeting its first tourists, such as the famous actress, Mlle Blanche de Sainval, who bought the convent of Saint-Honorat, confiscated from the Abbey and sold at auction as a Bien National. With this strange abbess, the chapel served to host soirées and the cloister became a stable!
At the time, Provence was divided into three départements, with Cannes a part of the Var département. It was not until 1860, after Nice became part of France, that the commune of Cannes was included in the newly created Alpes-Maritimes département.
But let’s go back to the beginning of the century. On March 1st, 1815, Napoleon I, back from exile on the Isle of Elba, landed at Juan-les-Pins before bivouacking in Cannes. The town, it must be admitted, did not really greet him with enthusiasm. A butcher even threatened to shoot the “Corsican ogre” from his window, but a more prudent neighbor kept him from doing so for fear of reprisal…
A few hours later, the Emperor pursued his march towards Paris. Subsequently, quite fortunately, the people of Cannes extended far warmer hospitality to crowned heads.
In December 1834, Lord Henry Brougham and Vaux, Lord Chancellor of England, went with his daughter Eleonore LYesse to visit Italy. Unfortunately for him but very fortunately for Cannes, the King of Piemonte had closed the border with France to try to prevent the spread of a cholera epidemic. Forced to go back, Lord Brougham decided to head for Grasse. At nightfall, he
stopped at the inn held in Cannes by the Pinchinat family in today’s Rue du Port.
Charmed by the site and the welcome he received, as well as Maître Pinchinat’s wine and bYesllabaisse, Lord Brougham, who had originally planned to stay just a few days, decided to have a home built in this paradisiac village. Two years later, all of London high society flocked to Cannes for the inauguration of his vast splendid home, Villa Eleonore.
Within a few years, the little fishing town had changed and new districts were under construction, with villas and châteaux. Cannes was becoming the “aristocratic city par excellence” according to Gabriel Charmers’ expression.
In 1837, the British general Taylor built Château St-Georges. In 1838, works began on construction of the first port and broadening the little trail that wound its way along the shore. Christened “chemin de la petite croix” (trail of the little cross), it would later become “Promenade de la Croisette.”
In 1848, Alexandra Feodorovna Skrypitzine, the wife of the French consul to Moscow Eugène Tripet, fell in love with Cannes and brought with her much of the Russian aristocracy. In 1858, the first luxury hotel – “Gonnet et de la Reine” – was erected on La Croisette, marking the launch of Cannes as a resort town.
On April 10, 1863, the “Paris-Lyon-Méditerranée” railway reached Cagnes-sur-Mer. From April 10 to May 31, 1883, no less than 19,430 travelers rode through Cannes.
Before the English arrived, the surrounding countryside was rather poor. Onions, chickpeas and olives formed the basic diet of the people of Cannes, along with fish, goat cheese and a few rare fruits and vegetables. The only streams flowing here were unpredictable torrents, dry at least six months in the year. For the British, this could not be tolerated; they could not imagine life without flowers, and especially without lawns. The problem was quickly settled by the enterprising Lord Brougham who decided himself to found, with some friends, a company in charge of conveying water to their homes (and at the same time to the population of Cannes). This led to building the Canal de la Siagne, which still provides the city’s water today. With irrigation, the meager land surrounding Cannes was revealed to be a genuine earthly paradise. Strange flowers and unknown trees from all the countries on the planet soon prospered in its hospitable soil: citrus trees, palm trees from Africa and the Middle East, eucalyptus from Australia, bougainvillea and yuccas from the Americas…
Agriculture and mimosa
The Belle Époque and Roaring Twenties…
In Cannes, the 20th century started with a bang. In 1910, the architect Marcellin Mayère was asked to build the Hôtel Carlton. It is said he was fascinated by the breasts of the famous courtesan, La Belle Otéro, which inspired his design of the luxury hotel’s two cupolas. Thus adorned, the world’s most famous hotel could only attract princes and rich businessmen from Europe, who invested millions as they vied for the charms of a few women, the most famous of whom were La Belle Otéro, Liane de Pougy and Émilienne d’Alençon.
World War I brought this carefree lifestyle to a sudden halt. In the hotels, the tourists were replaced by wounded soldiers and refugees. In 1921, Hôtel Carlton even hosted the Allies’ Peace Conference.
In 1929, the festive spirit was back. The Palm Beach was inaugurated in the presence of the Aga Khan – who fell in love with a girl from Cannes, just elected Miss France, who became the famous Begum – André Citroën, Baron and Baroness de Rothschild and many other celebrities. King Edward VIII, now simply the Duke of Windsor following his abdication, became an habitué of Cannes, like Winston Churchill, the painters Jean-Gabriel Domergue and Kees van Dongen, the writer Tristan Bernard, entertainer Maurice Chevalier and so many others.
In 1936, “paid holidays” made their first timid appearance on La Croisette. On September 1, 1939, the first International Film Festival opened with great solemnity… only to close the very next day, with the Declaration of the Second World War. It was not until 1946 that Cannes finally earned the title of “Capital of Cinema.”
The “little village,” whose sole wealth was its absolutely unique, site became the haunt of crowned heads and billionaires, then the city of Stars, Festivals and International Conventions.
Parler Paris Après-Midi
NEXT MEETING: June 13, 2004 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
TODAY’S CURRENCY UPDATE
Visit the FPI Web site and click on the link on the left panel “Click Here for Currency Convertor by Moneycorp” for up to the minute conversions of all major currencies.
Compare currency values easily and quickly by visiting: http://adrianleeds.com/frenchproperty/loan/moneycorpconvertor.html
Charts http://www.Moneycorp.co.uk/members/charts.asp 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.
Be sure to visit the Short-Term Vacation Rental page on French Property Insider at http://www.adrianleeds.com/parlerparis/apartments for three new apartments thanks to Paris-Be-A-Part-Of-It!
HOT PROPERTY PICKS: Cannes
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
*** House 06400-CANNES
Asking Price: 3, 800,000 Euros + 2% Finder’s Fee
Number of Rooms 8
Habitable Space 335 m²
Living Room 100 m²
Number of Bedrooms 4
Lot Size 2200 m²
*** Villa 30260-CANNES ET CLAIRAN
Asking Price: 197,483 Euros + 2% Finder’s Fee
Number of Rooms 7
Habitable Space 119 m²
Living Room NA
Number of Bedrooms 3
Lot Size NA
*** Villa 06150-CANNES
Asking Price: 570,000 Euros + 2% Finder’s Fee
Number of Rooms 5
Habitable Space 185 m²
Living Room NA
Number of Bedrooms 4
Lot Size 600 m²
LEASEBACK NEWS FROM IMOINVEST
FRENCH VENICE JUST WEST OF MARSEILLE
France, Mediterranean Coast, Carro-Martigues
One Bedroom, 34m² to 45m², Euro 128,300 to Euro 148,300
Two Bedrooms, 43m² to 53m², Euro 155,000 to Euro 194,700
Three Bedrooms, 63m² to 64m², Euro 225,000 to Euro 229,100
GUARANTEED RENTAL INCOME UP TO: 4.80%
Ideally nestled between port and beach, the Residence Cap Bleu is within walking distance from the village area and corresponds perfectly with the Provencal lifestyle. Balconies and terraces abound offering every opportunity to soak up the fantastic sunshine along the port. Each and every spacious apartment offers a harmonious domicile decorated with the delicious colors of the region. In a private gated community, this fully furnished residence presents a living situation of the finest quality, with two swimming pools, tennis courts, and children’s recreation area.
The beautiful winding canals, the wonderful yachts of the port and the colorful facades reflecting in clear blue water; the incomparable charm of Carro-Martigues is not to be missed. Fourth largest city in the administrative area of “les Bouches du Rhône” (Rhone delta) with its 45,000 inhabitants, discover Carro-Martigues by the waterside. Considered the “Venice of Provence” this beautiful area is recognized internationally as one of the most endearing port towns of the South. The Côte Bleu (Blue Coast) is a jagged limestone coastline that stretches for 30 kilometres between Martigues and Marseille. It is a succession of calanques (coves), little creeks and beaches nestling against the Estaque Hills. One side of this chain encloses the Bay of Marseille on the north-west and, at the same time, its other side protects the basin of Berre Lagoon. This is where the sea g
oes inland to build the greatest expanse of salty water in Europe: the “Étage de Berre” (“the Pond of Berre”). It is a limestone arc of wild landscape, cut into by narrow winding vales at medium altitudes (180 – 280 m). The hills drop sharply into the sea along most of the coast; sometimes fishermen’s hamlets and weekend cabins cling to the steep crags. In the western part, the chain softens into plateaux and there are superb white sand beaches.
A regional marine park was created in 1983 on the initiative of four local councils. It includes a 70 hectares conservation area off the coast from Sausset, and a peripheral area of 3,000 hectares that includes the entire coastline of the Blue Coast. There are splendid views from the coastal railway, which was built at the start of the century with several viaducts and tunnels. The best way to explore this coastline by car is to take the roads that go around little pleasure ports, skim the cliffs and wind through the rocky vales and the pinewoods. There are many suitable places for taking casual walks or longer hikes. Bare and windswept Cap Coroner has a magnificent panorama of the coast and the Bay of Marseille. Here the climate is perfect during the summer months and practically sunny all year round, with of course a fresh Mistral breeze to calm and cool.
*Investment Type: MNP/LMNP – Residence de Tourisme
* Program name: Residence “Cap Bleu – Carrot”
* Location description: Cap Bleu (Blue Coast) is situated on the French Riviera along the coast of the Mediterranean. The Blue Coast consists of 5 communes: Carro-La Coroner situated to the extreme west of the Cap, Martigues considered the French Venice for its canals, Sausset-les-Pins, Rove and Ensuès-la-Redonne. Carrot crowns the township of Martigues and is 400 feet (150m) from the beach, 24 miles (40km) from Marseille (Marseille-Provence Airport), 49 miles (80km) from La Camargue (Nîme-Arles-Camargue Airport), 31 miles (50km) from Aix-en-Provence and 450 miles (725km) from Paris.
* Price and size range: T2 One bedroom 34m² to 45m² at Euro 128 300 to Euro 148 300 HT, T3 Two bedroom 43m² to 53m² at Euro 155 000 to Euro 194 700 HT, T4 Three bedroom 63m² to 64m² at Euro 225 000 to 229 100
* Completion Date: April 2007
* New/Old property: New property
* VAT Refund: Full VAT refund
* Rating: 3 stars
* Number of Units: 100
* Extras: Assigned parking, Gated community secured by electronic code, Satellite television, Community pool for tenants, tennis courts, Recreation area and pool for children, Fully equipped kitchens, balconies and terraces, private garden (depending on apartment).
Rental Income: Up to 4,81%
Occupation Option: Yes
Exchange Possibilities: Yes- 15% reduction for all owners taking an additional week with any property managed by the same company
Lease Duration: 11 years and 9 months beginning April 1st 2007
Exit Strategies: Renewable lease
Payment of the rent: Quarterly
Rental Base: Tourists
Next session: May 24, 2005, 2 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:
House 295 m² useful space
68 rue des Vignoles
75020 Paris 20th
Opening Bid: 1 160,000 Euros
Deposit: 232,000 Euros
Hôtel particulier 312 m²
12, rue Jacques Bingen
75017 Paris 17th
Opening Bid: 2 135,000 Euros
Deposit: 427,000 Euros
4 Rooms 125,10 m² + balcony 30 m²
15 rue du Louvre
75001 Paris 1st
Opening Bid: 540,000 Euros
Deposit: 108,000 Euros
Studio 31,40 m²
15 rue du Louvre
75001 Paris 1st
Opening Bid: 120,000 Euros
Deposit: 24,000 Euros
The Original Living in France Conferences and Seminars by the same creators who launched it in 2002…
Working and Living in France Conference May 20 – 22, 2005 Les Jardins du Marais, Paris
If you’ve always dreamed of moving to France, starting a new life in Paris, enjoying a “pied-à-terre” of your own part of the year or investing in property in France, this three-day power-packed conference is a MUST. Hosted by Adrian Leeds, Editor and of the Parler Paris Nouvellettre® and French Property Insider weekly e-zine and John How
ell, lead attorney for John Howell & Co., Europe Law, London, these three days in Paris will arm you with all the information you need to make it happen! The line-up for the conference includes lectures, discussions, dinner, cocktails — with well-known Paris, Europe and U.S. -based experts in the fields of:
* Obtaining the Right to Be in France
* Learning the Language
* Starting a Business in France
* Minimizing Your Tax Liability
* Finding, Buying and Owning Property
* Learning About the Leaseback Program
* Renting Your Property for Profit
* Getting a Mortgage
* Protecting from Foreign Exchange Risks
* Best Offshore Banking in the World
* Crossing the Cultural Divide
* Insuring Your Health, Home and Car
* And more!
You’ll have an opportunty to ask questions and learn all you’ll need to know to make your dream come true to live in France or just be a part of the profits on owning property there.
Working and Living in France May 20 – 22, 2005 Paris, France Les Jardins du Marais
Click here to learn more: http://www.adrianleeds.com/parlerparis/liveinfrance/WLIF_PARIS_2005/WLIF_PARIS_2005_home.html
Reservations and information: If you’d like to know more about the seminar or reserve your place, email Schuyler Hoffman.
U.S. OFFICE 9 a.m. to 6 p.m. Pacific Time Schuyler Hoffman, Special Projects Manager Phone 1-310-427-7589 Email: email@example.com/parlerparis
SEEKING A MORTGAGE IN FRANCE?
Let us help you secure a mortgage in France with interest rates as low as 3%. Visit http://www.adrianleeds.com/frenchproperty/loan for more information.
Abbey National David Anderson, Mortgage Advisor firstname.lastname@example.org
Banque Patrimoine et Immobilier Stéphane Denner, ExPatriate & Non Resident Service email@example.com
Barclays Contact Yolanda Robins Adrian@AdrianLeeds.com
Entenial Contact Yolanda Robins Adrian@AdrianLeeds.com
FPI Property Search Services
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.
Now is your opportunity to own your piece of France at a savings. Property consultation and search services rates will increase effective June 1, 2005, but if you book your services between now and May 31st to be rendered prior to December 31st, 2005, will be charged at the current low rates!
For more information, visit http://www.adrianleeds.com/frenchproperty/insider/propertyconsultation.html or contact Yolanda Robins, Adrian@AdrianLeeds.com
Don’t forget that with your FPI subscription you are entitled to a discount on the purchase of any Insider Paris Guides. You’ll find details of the guides at http://www.insiderparisguides.com/. When ordering, a box will pop up allowing you to enter the following username/password
Order more than one guide at a time and you will receive an additional discount!
Username: propertyinsider Password: liveinfrance
THINGS YOU NEED TO KNOW
- To access this password protected page:
The username is: fpisubscriber The password is: paris1001
If your computer utilizes cookies, once you log into a subscriber only section, the login information will remain active for seven days, after which you will have to login again.
- Past issues of FPI are available on the website. You will find the “Past Issues”link on the left under “Subscribers Only”or by going to http://www.adrianleeds.com/frenchproperty/insider/subscribersonly/pastissues/index.html
- To receive your free French Leaseback Report or the Paris Property Report, click on http://www.adria
======= CLASSIFIED ADVERTISING ======
Leeds Marais Apartment Available July 22 – August 1, 2005
Located in a 17th century Le Marais Hotel Particulier, this 70 square meter two-bedroom apartment with lots of light is nicely furnished and is perfect for up to four people when rented in its entirety or a single woman in the freshly renovated guest room when owner Adrian Leeds is there.
Pictures and more details available at http://www.adrianleeds.com/parlerparis/apartments/rentals/leeds.html
Monte Carlo Seaside — a dream view of Monaco and the sea!
Located at the french border of the principality of Monaco in Roquebrune Cap Martin — this big one bedroom flat of 600 square-feet with a terrace can easily accommodate one couple + one extra adult on a convertible sofa. Fully equiped kitchen, marble bathroom, private cark park, security doors, pure silence, fresh sea breeze, direct access to the quiet private beach at 200 meters, 5 minutes to Monte Carlo train station or bus stop, easy access from Nice international airport and Monte Carlo train station.
*Special Weeks in May: Monaco Grand Prix and Cannes Film Festival: 1000 euros per week
Visit http://www.adrianleeds.com/frenchproperty/insider/rentals/pfmontecarlo.html for lots more beautiful photos and to book your stay contact FPI_Monte-Carlo and ask for the French Property Insider Special Offer.
For all short term rental apartments in Paris, take a look at http://www.adrianleeds.com/parlerparis/apartments or http://www.adrianleeds.com/frenchproperty/insider/longterm.html for long term apartments.
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/
SUBSCRIBE TO PARLER PARIS
If you’re not a regular reader of the Parler Paris daily e-letter, and would like to be, simply enter your e-mail address here (it’s free!): http://www.adrianleeds.com/parlerparis
Copyright 2005, Adrian Leeds Group, LLC