Living in the Luxurious 7th
Art Nouveau on Avenue Rapp, 7th Arrondissement
(FOR SUBSCRIBERS ONLY)
June 5 , 2008
Bonjour French Property Insider Subscriber,
This week I met with Mary Fort, Director of the International Department of Banque Patrimoine et Immobilier (BPI) to discuss her newest creative scheme to finance Fractional Ownership properties — what no other bank has been able to achieve. Be sure to read today’s report on Mary’s smart ideas!
This week we also took on the sales assistance of a stunningly elegant apartment in the 7th arrondissement on rue de Verneuil, just near the "Carré Rive Gauche" of antique and art dealers on the streets that border the 6th and 7th districts, owned by a San Franciscan European born. Have a look at this magnificent apartment, professionally decorated and ready to move in.
Interior Designer, Martine di Matteo, shows off her own ‘humble’ home to our team one glorious afternoon and after much food and champagne, we lived to tell the tell. Do read it and see what a beautiful job she did paying attention to every detail in her own comfy nest.
Pay special attention to the legal and tax issues surrounding rental apartments. This is just Part I of a series of three parts and an important one to those of you who own rental properties or are thinking of buying one with the idea to rent for revenue.
And if you are a seller, like our rue de Verneuil owner, then beware of the new law as of January 2009 to provide an electrical survey for domestic property owners.
Today we started the filming for the newest episode of House Hunters International with new owners Mary Schiller and Jeff Ballinger who signed this past Tuesday on an apartment on Cité Dupetit Thouars, just above "L’Aubergine" (http://www.adrianleeds.com/parlerparis/apartments/rentals/aubergine.html). Next week we’ll provide a full report on the three-day session which includes four other apartments they look at before buying the one they did and the reasons why they chose this one.
Next Thursday I’ll be writing to you from New York City where I will be looking AGAIN for an apartment in which my daughter can live. I’ll happily tell the whole sordid tale of how and why (we think) we got denied by the board of the co-op building in which we had hoped to buy. Stay tuned…
Editor, French Property Insider
P.S. Next week, be sure to meet up with us at Parler Paris Après Midi on Tuesday from 3 p.m. to 5 p.m. at La Pierre du Marais. It’s free and it’s fun. I’ll be heading to New York City the next day to start over looking for an apartment for my daughter there! So, don’t miss it. We’ll have lots to talk about. See http://www.adrianleeds.com/parlerparis/apresmidi.html for more details.
Volume VI, Issue 23, June 5, 2008
* Financing Your Fractional
* Inside an Interior Architect’s Home
* Special Apartment for Sale in the 7th
* Art and Antiques on the Left Bank
* What You Need to Know About Renting Your Furnished Apartment
* Selling Sparks Electrical Survey
* Fractional Ownership By Design
* Upcoming Living and Investing in France Real Estate Conferences
* French Property Consultation on House Hunters International
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: June 10, 2008
* Hot Property Picks: Lucky 7th Living
* On the Auction Block: June 16 and 24, 2008
* Leasebacks: Mas Tilia, France, Mediterranean Coast, Mallemort
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — Les Portes de Notre Dame
Part II: The New Les Halles
By Adrian Leeds
As Interpreted from an "Actualité du Projet"
Published by the City Hall of Paris
Editor’s Note: Part II will be continued in next week’s FPI. To read the report in its entirety, download the Original Version in French:
BPI Finances Fractional Properties
By Adrian Leeds
Banque Patrimoine et Immobilier (BPI), the lender that created the "Zero Plus Loan Option" (as presented in FPI in the March 27, 2008 issue: http://adrianleeds.com/frenchproperty/insider) is now offering mortgage capability to shareholders in a fractional ownership property.
In many cases, the legal structure of a fractional property is such that a Limited Liability Company (LLC) formed by the participating shareholders together own a "Societé Civile Immobilier," or "SCI," a French property company. The French lenders cannot lend to an LLC and must have a guarantee by one or more individual members to secure the loan.
Mary Fort, Director of the International Department at BPI, has engineered a way for the LLC to take a mortgage, by showing that the LLC owns a vast majority of the property, with a very small percentage owned by at least one individual who then becomes the guarantor of the loan.
For example, the developer maintains 2% of the shares and therefore secures a loan on the property based on his small share as guarantor. The remaining 98% of the shares are held in the name of the LLC. Shareholders can then mortgage or not their share of the property, as long as there is at least one individual responsible for the loan.
Editor’s Note: Mary Fort will be speaking at the upcoming Living and Investing in France Real Estate Conference in San Francisco July 26-27, 2008 with special emphasis on this new loan concept (!) as well as the Zero Plus Loan Option. For more information about the conference and to register, visit http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html. To learn more about the new loan concept, email firstname.lastname@example.org
Picture Perfect French Country Afternoon
By Adrian Leeds
Excerpt from Parler Paris
Wednesday, May 28, 2008
Martine asked, "Can you come to lunch on Monday at my home?"
Knowing that Martine di Matteo, our Interior Architect ‘Extraordinaire,’ lives near EuroDisney close to the end of the RER A (regional train), the immediate response was, "No, there’s no way to take so much time during a weekday."
Then, I learned it was her birthday and many of our property consultation team had already agreed, including the owners of one of the newest rental offerings, "Le Déco." So, how could any rational person say no? Besides, I truly wanted to.
I’d heard about Martine’s house in the country — a centuries-old farmhouse that she and her husband, Maurice, with their two kids and Dalmatian, Gwendoline, have nurtured from its original shell-like state. It’s the house she claims is worth the drive into Paris or a trip on the RER (each, about 30 minutes on a good day), even when she has to battle the traffic, drive in circles looking for a parking space, or from time to time, retrieve the car from having been towed or pay the price when its ticketed.
So, at 12 noon, five of us boarded the RER A4 in the direction of "Marne-la-Vallée-Chessy, Parcs Disneyland" to exit at Val d’Europe, just one stop before the theme park. A tired sparrow tried desperately to find a way out of the railway car, landing on a passenger’s collar, without him even knowing it. With a little bit of a dance, some members of our group were able to set him free, all the while, the passenger on whom he had lit, totally unaware.
Maurice picked us up in his seven-passenger car and within a few minutes, we were parking in front of a gorgeous stone house with a shrubbery-laden wall and big gate in the dual village of "Quincy-Voisins." The nearest ‘large town’ is "Brie de Meaux," the start of the Champagne region, famous for its cheese that is evidenced in the chronicles of Charlemagne.
One always wonders what an interior designer’s personal habitat actually looks like. It was picture perfect, a far cry from the bustling streets of Paris, not so far away. We were not surprised to find it what everyone imagines is the ideal French country house — warm, cozy and very romantic from the tip of its tile toes to the top of its many pointed roof heads.
There is a stone on the house with the date 1703 carved into it, but a neighbor who knows much about construction says the cathedral roof, now with exposed beams towering over the two-level high master suite, is 12th-century. Every inch was reconstructed and augmented, bringing in old beams to fill in where there were none, paying attention to every detail so that what is old, is in effect, now new, but still carrying life within itself.
Maurice has a furnishings business appropriately named "Au Passé Recomposé" which takes antiques and ancient elements recreating them into contemporary furnish
recycled stone, wood and metal, adding a patina to enhance the life of material. His handywork is everywhere in the home and finds its way into many of Martine’s projects. In "Le Déco," a very old door, with what appears to be a carving of the head "Marianne" (a national emblem of the French Republic), was found in a closet with thick with many layers of paint that he stripped and refinished to a pale stone gray. It is now a focal point in the apartment adding character and charm to a contemporary kitchen corner.
A tour of the house took us to six bedrooms, three bathrooms, a powder room, a large country eat-in kitchen, living room, dining room, family room and I’ve lost track of the rest. Martine estimates it to be about 300 square meters (3300 square feet), but I’d swear it to be more. Every corner is eye candy. They have collected knick-knacks and art from many places over many years, that have ‘feathered the nest’ with fine taste. Yes, we all wanted to move right in!
For several hours we dined on assorted cold "mezze," a middle eastern selection of appetizers, drank champagne and red wine, seated at a table in the garden. For dessert, we tasted goodies from the region lazing casually in a circle around a coffee table in the living room, set like a feast of cheeses and fruits, served with brown sugar and crème fraiche.
Gwendoline nuzzled our hands and joined us for dessert parking herself on the over-stuffed chair draped in a flowery fabric. Martine and Maurice’s 13-year-old son played piano for our amusement and by the end of the day (a ‘work-day’, no less), we were sated and happy to have taken the time to celebrate a friend’s birthday…in such beautiful French style.
Wish we could do that everyday…
A Special Find on Rue de Verneuil, 7th
For Sale by French Property Insider Reader
In an historic building of the 17th-century, this refined pied-à-terre features stone walls, exposed beams and high ceilings. It is comprised of an entrance, living room, dining room, study, bedroom (and the possibility to create a second bedroom), walk-in closet, bathroom, fully equipped kitchen, cellar. This elegant apartment is in excellent condition and was renovated and decorated to the ultimate taste by an Interior Designer living in San Francisco, of European origin.
The apartment benefits from being in a remarkably quiet area, just across the street from famous Frenchman Serge Gainsbourg’s Graffiti-walled home. It is steps away from Paris’ chicest district of antique and art dealers of the Carré Rive Gauche Association (http://www.carrerivegauche.com/) Includes a gardien, digicode, individual electric heat and water.
Construction – 17th century
Area – 100 m² (approximately)
Ceiling height – 3.5m
Floor – Rez de chaussée
Number of rooms – 3/4
Bedrooms – 1
Exposure – west and south
View – courtyard
Asking Price 1,355,000€, No Finder’s Fee
For more information, contact: email@example.com
Carré Rive Gauche
Situated between Saint-Germain-des-Prés and the Musée d’Orsay at the heart of Paris’s 7th arrondissement, the Carré Rive Gauche, which boasts 120 antiques dealers, invites you to enjoy a fascinating stroll through an array of rare objects chosen by professionals from the art market. Only Paris can offer such an exceptional range of furniture dating from the Renaissance through to the 21st century, as well as pictures, sculptures, Far Eastern and African art, curios, porcelain and earthenware, glassware, silverware, and tapestries.
Legal and Tax Issues for Rental Property
Part I: Renting Furnished Accommodations
From the Chambre de Notaires
Furnished tenancy is governed by different legal and tax regulations from those that apply to unfurnished accommodations. You need to know more before making the investment.
The rental of furnished accommodations is usually described as an attractive tax option. However, this generic term encompasses numerous scenarios with which you should be familiar before making a decision.
A Flexible Legal Framework
The law of July 6, 1989, which explicitly excludes furnished tenancy from its purview, imposes certain requirements on lessors. For example, leases must be for a period of at least three years, and owners must give tenants six months’ prior notice before removing them from the residence. Tenants may be removed only for failure to comply with their res
or in the event that the lessor must regain possession of the residence in order to live in it or sell it.
A Truly Furnished Residence
The law of July 6, 1989 does not define furnished tenancy, which must be assessed on a case-by-case basis. However, past court rulings suggest that the furniture provided by the lessor must be of sufficient quantity and quality to meet the tenant’s essential needs. Each room must be furnished. It is therefore very important, when drawing up the schedule of condition prior to signature of the lease, to prepare a precise inventory of the furniture included in the rental and to attach this inventory to the lease. Judges are not bound by the parties’ characterization of the transaction and may redefine the latter as a residential tenancy.
French law gives considerable latitude to the parties to a furnished tenancy. For example, they may establish a verbal lease that complies with the rules of ordinary law governing rentals, and specifically with the broad provisions of the Civil Code. Nonetheless, it is strongly recommended that the parties sign a lease contract that defines the rental terms and conditions, in order to avoid any subsequent disputes. Such a contract will include the length of the rental, the procedures for giving notice, the amount of rent and the procedure for setting it, and liability for repairs.
The law on urban solidarity and renewal requires all lessors, including those renting furnished accommodations, to provide decent housing. The basic requirements for decent housing were established in a decree dated January 30, 2002, including minimum inhabitable surface area, adequate amenities, etc. (law of December 13, 2000, Article 13). In addition, if the building is old, lessors must verify that the law of September 1, 1948 is not applicable.
More than Four Furnished Lodgings
A specific set of rules and regulations governs furnished accommodations provided by a lessor who routinely lets more than four flats that constitute each tenant’s primary residence (Article L.632-7 of France’s Building and Residential Code [Code de la construction et de l'habitation]). This imposes somewhat greater restrictions on each party. For example, the lease is for a period of one year and may be tacitly renewed. In addition, any owner who does not wish to renew the rental contract must notify the tenant three months before the contract expires. The owner must also indicate the grounds for refusing to renew the lease.
There are various other provisions scattered throughout French law that apply to furnished tenancies. France’s Unfair Terms Commission (Commission des clauses abusives) has drawn up a list of stipulations that may not be imposed on tenants. Moreover, any transformation of residential premises into furnished accommodations requires official authorization (cf. Article L.631-7 of the Building and Construction Code). But this provision applies only to "professional" lessors of furnished accommodations, i.e. those who routinely let several furnished lodgings in the sectors identified in the aforementioned article.
A Variety of Tax Rules
Whereas from a legal standpoint furnished tenancy is a civil rather than commercial activity, for tax purposes it is considered a commercial business. As a result, any earnings from the furnished rental of a building, either new or old, are taxed as business profits (bénéfices industriels et commerciaux, or BIC).
Certain rentals are not taxed. For example, lessors who let or sublet a furnished portion of their primary residence are exempted from tax on all earnings from this activity.
The rented rooms must constitute the tenant’s or subtenant’s primary residence, and the rental price must fall within a reasonable range. For example, the annual rent per square meter of inhabitable surface area must not exceed a set maximum (for 2003, this maximum is €142 in Ile de France and €102 elsewhere in France; see the General Tax Code, Article 46, AGA of Appendix III).
Professional Lessors of Furnished Accommodations
Those who wish to be recognized as professional lessors of furnished accommodations must meet two conditions (General Tax Code, Article 151 septies). First, they must be registered with the local trade and companies register. Certain registries will refuse any registration application from a taxpayer and natural person conducting such a business, on the basis that the rental of furnished lodgings is a civil activity. However, the tax authorities have indicated that they will waive this requirement if taxpayers present proof that their application for inclusion in the trade and companies register was denied. In addition, the lessor must earn annual revenue of at least €23,000 including tax from rentals or must obtain at least 50% of total income from this activity.
Revenue of €23,000
This threshold is designed to reflect the total income earned by the members of a single tax household. This revenue may come from renting just one flat. If operations begin during the course of the year, this threshold may be revised in proportion to the duration of the rental.
If the lessor is a partnership or a limited liability company controlled by one person or a family, the €23,000 threshold is assessed for each partner, with revenue distributed among the partners in accordance with their respective share of the company’s earnings.
At least 50% of Income
Net revenue from furnished tenancy is compared to total net revenue in the category (before expenses are deducted from overall revenue and prior deficits), including revenue from furnished rentals and revenue that is taxed at a pro
portional rate, if any. An adjustment will be needed for companies that began operations during the course of the year.
Professional lessors receive several tax benefits so long as they are taxed on their actual profits (régime réel d’imposition). This tax rate is optional if the lessor’s annual pre-tax earnings do not exceed €76,300, and applies by rights otherwise. The property must be recorded as an asset on the lessor’s balance sheet. The lessor can then deduct property expenses in addition to rental expenses, including interest on loans, depreciation of the property, insurance, property tax and legal fees for official documents. Overall taxable income can be reduced on the basis of reported deficits.
Deficits that can be Charged to other Income
At least in the first few years, total expenses will generate a deficit that can be deducted without limitation from the taxpayer’s overall income. However, amortization can be deducted only up to a ceiling equal to total rent payments, once applicable expenses have been deducted. Therefore, amortization cannot create or increase the deficit, but any amortization affected by this rule can be charged against future profits, with no time restrictions. In addition, professional lessors who are members of an approved management center are eligible for a tax allowance.
If the conditions cited above are not met, the lessor is considered non-professional. However, these rentals remain subject to the rules governing business profits (BIC). The taxpayer may qualify for the rules applicable to microenterprises if his or her annual pre-tax earnings are less than €76,300. In this case, a fixed-rate rebate of 72% is applied to turnover to yield the taxpayer’s net taxable income. The lessor is then taxed on the remaining 28% at the marginal tax rate.
The Option of Tax on Actual Profits
Taxpayers may opt to be taxed on the basis of their actual profits if, for example, their potentially deductible expenses exceed the 72% allowance. But bear in mind that any reported deficits may not be charged against overall revenue. Such deficits may only be charged against profits from all non-professional activities. These profits must be taxable as business profits and must have been earned in the same year or in the five subsequent years.
The Year of Delivery
When properties are acquired while still under construction, delivery of the building must occur in the same year that it is made available for rental. If this is not the case, any expenses incurred during the acquisition year (e.g. interest on loans) may not be deducted from rental income in the following year. According to the tax authorities, these expenses may only be charged against earnings from non-professional activities.
Other Tax Benefits
Professional lessors renting furnished accommodations may also be entitled to other tax benefits (wealth tax, tax on capital gains, etc.). In addition, they may be able to recover VAT paid when they acquired the property by following certain procedures. They are, however, subject to local business tax.
New Surveys for French Property Owners
The French government has enforced a new electrical survey for domestic property owners.
If you’re planning on selling your French property in the near future, you’ll now need to have a mandatory electrical survey conducted before you sell.
The new electrical survey will become obligatory on all domestic property sales from January 1, 2009, except in cases where a new system has been put in place within the last 15 years.
The survey will assess the safety of a property’s electrical system and will cover items such as the condition of the internal wiring and sockets, as well assessing outbuildings such as barns and workshops.
Although property owners will not be obliged to repair any faults before selling, the new survey could prove to be a crucial negotiating tool for prospective buyers, who may be able to argue for a reduction in price if work is required.
Design Your Own Fractional Ownership Property
With "French Property Fractional"
by Adrian Leeds
Fractional ownership may be a hot concept!…but we’re making it even hotter!
A new division of the Adrian Leeds Group, LLC, "French Property Fractional" is the newest and hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself.
What’s Fractional Ownership?
A hybrid of direct ownership and time sharing, it combines the best elements of both. The primary differences are that while timeshares involve many shares in a large complex with “resort” amenities and costs built specifically for that purpose, fractional ownership is joint ownership by only a few individuals in a single property whose value can easily be determined on the open market.
Most Paris fractional property opportunities are properties that have been purchased, renovated and decorated by one developer who then sells off the shares. Most of these offerings sell six to twelve shares to
investment amount while maximizing the size, location and quality of the apartment.
What’s new about "designing your own" property?
While this system works well for many investors, we found that there are large numbers of individuals who would like to combine the benefits of traditional fractional ownership with single-party ownership, enjoying more time to personally use the property, having more decision-making power about the property, more input and more control. We believe that YOU want to feel like the property is really YOURS — and it is!! So, why not have a more personal relationship with the property.
Here’s how French Property Fractional works:
FIRST, WE OFFER A "CONCEPT"
Our team is offering a property CONCEPT…to search and find the following property to be shared between only a very small group of owners — four to six:
"MY PIED-A-TERRE IN LE MARAIS"
SIZE: 35 to 45 square meters (377 to 485 square feet)
ROOMS: two rooms — one bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen
LOCATION: Le Marais, districts 3 or 4
LEVEL: No higher than 3rd floor (European) without an elevator
BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)
AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts
COST: 4 shares, 135,000€ each, 3 months of usage per year
5 shares, 108,000€ each, 10 weeks + 2 days of usage per year
6 shares, 90,000€ each, 2 months of usage per year
USAGE: Owners determine their own usage calendar and have
complete flexibility to arrange their calendar among themselves
* Full price of the property including agency fees.
* All notarial and legal fees.
* Property search and consultation fees.
* Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.
EVERYONE MUST AGREE:
Members of the purchase pool must be willing to invest the full amount of at least one of six, one of five or one of four shares to be held in an escrow account to fund the property search, purchase and renovation.
The search will commence upon commitment in writing and receipt of funds from all members of the purchase pool with an agreed upon allowance for a minimum of 90 days to locate the property.
Upon location of a property that fits the above parameters, a memo with photos and description of the property will be sent to all members who may decide at that time to approve or decline the property in a timely manner — within 48 hours of receipt of the memo. Any group which is able to approve the found property with a combined total of 540,000€ will enable the purchase process to proceed.
Members of the purchase pool will provide proxy to the Adrian Leeds Group, LLC to sign notarial documents on their behalf: the Promesse de Vente and Acte de Vente — allow 3 to 4 months to completion.
Three decor concepts that fit within the renovation budget will be presented to the purchase pool for voting and will be executed by the interior architect and construction team. Any choices made by the purchase pool outside the framework of the budget will be charged over and above the initial fees. Allow 2 to 3 months to completion.
Members of the purchase pool will appoint one spokesperson for the purchase pool to make day-to-day decisions and act as a "liaison" between all members of the purchase pool.
NOTE: The Adrian Leeds Group, LLC will offer optional property management services upon completion of the sale and renovation at an additional expense to oversee the maintenance of the property, provide housekeeping between owners’ visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.
If you are interested in participating in a purchase pool for "MY PIED-A-TERRE IN LE MARAIS," email Adrian Leeds at firstname.lastname@example.org
Fractional Property Offerings
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
|Paris: CHEZ LA TOUR
|Languedoc-Roussillon: MAISON BLEUE
|Meaux: CHÂTEAU LIVING FRANCE
|Nice: ON THE COURS SALEYA
For more details and pricing information, contact mailto:email@example.com
Adrian Leeds, of Parler Paris and French Property Insider and John Howell, The International Law Partnership, Present the…
Living and Investing
in France Real Estate Conference
Upcoming Conferences in 2008:
Living and Investing in France Real Estate Conference
Date: June 22, 2008
Location: International Law Partnership Offices, Holborn Hall, 193-197 High Holborn, London WC1V 7BD
Times: 10 a.m. to 6 p.m. with buffet lunch
Limit: 25 attendees
Registration Fee: £147 1st person, £97 2nd person
To learn more and reserve your place, click here: http://adrianleeds.com/frenchproperty/conference/LIF_London_June_2008/index.html
Living and Investing in France Real Estate Conference
Date: July 26-27, 2008
Location: An Alliance Française of San Francisco Special Event!
Don’t miss our 22nd Living and Investing in France Real Estate Conference! Learn how to live and invest in France…profitably.
Single Person Seminar $427, Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends Save $50, You Pay Only $377
Second Person $327 (Add Your Spouse, Partner or Friend), Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends, Save $50, Second Person Pays Only $277
To learn more and reserve your place, click here: http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html
For more information, email firstname.lastname@example.org
Living and Investing in France Real Estate Conference
Date: October 11-12, 2008
Location: Paris Chez Jenny
Times: To Be Announced
Registration Fee: To Be Announced
For more information, email email@example.com
See French Property Consultation on House Hunters International!
"Settling Down in Paris"
Angela and Ben met in 2003 when they lived in Los Angeles working for the same clothing company. Now, the two are engaged to be married. When Ben started receiving frequent overseas work, the company believed he’d be more valuable in Paris, so they happily relocated. They immediately moved into a cozy rental in the 17th district near the Arc de Triomphe and started to explore the different neighborhoods of Paris. The pair is now ready to take the big leap and purchase an apartment to stay for good. Property consultant Adrian Leeds is enlisted to help.
• July 16, 2008 10:30 PM ET/PT
• July 17, 2008 2:30 AM ET/PT
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
Come for a drink and to meet and chat with other readers in Paris…
The next gathering is June 10, 2008, and every second Tuesday of the month.
HOT PROPERTY PICKS: Lucky 7th Liv
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/consultation
***Paris, 7th Arrondissement, 3 rooms, approx. 58m²
Near Vaneau, in a classic building, this apartment is quiet and full of charm. It offers an entrance, living room, dining room, bedroom, kitchen, bathroom and cellar. Beautiful potential.
Asking Price: 520,000€ + 2.5% Finder’s Fee
***Paris, 7th Arrondissement, 4 rooms, approx. 60m²
In a lovely old building, on the third floor with elevator, this apartment has a view on a courtyard full of trees. In very good condition, with a large, fully equipped kitchen, a large living room and wood floors.
Asking Price: 595,000€ + 2.5% Finder’s Fee
***Paris, 7th Arrondissement, 3 rooms, approx. 66m²
Exceptional apartment! Near Univerisité-Musée des Arts Premiers. In a beautiful pierre de taille building, this apartment is in excellent condition. It is comprised of a living room, two bedrooms, separate kitchen, bathroom, cellar. Triple exposure with a view on a magnificent garden. Bright and quiet.
Asking Price: 699,000€ + 2.5% Finder’s Fee
Next Sessions: June 17 and 24, 2008 at 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 Web site 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:
June 17, 2008 at 2 p.m.
|6 rooms 142,41 m²
3 boulevard de la Tour Maubourg
75007 PARIS 7th
Opening bid: 900,000€
|House 88 m² with land of 87 m²
7 villa Claude Monet
75019 PARIS 19th
Opening bid: 300,000€
|7 room triplex 159,65 m² + balcony
48 boulevard Saint-Germain
75005 PARIS 5th
Opening bid: 1,400,000€
|2 rooms 66,7 m² + balcony
48 boulevard Saint-Germain
75005 PARIS 5th
Opening bid: 600,000€
June 24, 2008 at 2 p.m.
|h="135" height="168">||3 rooms 69,78 m²
15 rue Manin
75019 PARIS 19th
Opening Bid: 315,000€
|2 rooms 33 m²
99 rue Duhesme
75018 PARIS 18th
Opening Bid: 145,000€
|2 rooms 21,18 m²
27 rue Emile Lepeu
75011 PARIS 11th
Opening Bid: 68,000€
LEASEBACK NEWS FROM IMOINVEST
France, Mediterranean Coast, Mallemort
Three Bedrooms 125m² to 126m² €850,000 to €850,000
Four Bedrooms or More 146m² to 164m² €975,000 to €1,615,000
Four Bedrooms or More 322m² to 322m² €2,990,000 to €2,990,000
Guaranteed Buy to Let – Leaseback
GUARANTEED RENTAL INCOME UP TO: 3.75%
GOLF, FRENCH RIVIERA & INVESTMENT
Between the Alpilles and the Luberon, Pont-Royal is the place for a typically Provençal lifestyle. A prestigious village in a 180-hectare estate, with a magnificent 18-hole golf course and 2-hectare lake. The Pont Royal estate is at the foot of the Luberon, on Route Nationale 7, between Aix-en-Provence and Avignon.
Mas Tilia is an exclusive residential complex comprising of a limited number of luxury villas set on the Pont Royal Golf & Country Club estate. 32 luxury villas with private swimming pool and landscaped garden surround the famous 18-hole and 9-hole golf courses with magnificent views of Provence. The entrance to Pont Royal estate protects the privacy of residents and their guests. The entire estate, gardens and access roads, is planted with flowers and carefully maintained. The Pont Royal estate provides sport and leisure facilities including riding stables, a water sports center, tennis courts, an archery range and paths for walking.
In the center of the village are shops, a club house, boutiques and restaurants where several languages are spoken. Food and good wine are inseparable from the Provençal way of life. Going to the market, carefully choosing your fresh fruit and vegetables and olive oil, savoring a Côtes de Provence or a Côtes-du-Rhone… all these pleasures are here for you to share with your family or friends. The Mas Tilia Villas offer the highest-quality amenities to give you luxury and refinement.
The Villas form a natural extension of the hamlet, bordering the new golf course. The Mas Tilia Villas offer three models of Provençal homes designed in the long-standing tradition of the Aix-en-Provence region. They all boast an outstanding setting and the finest modern comfort. The generous villa interiors are designed with space and light in mind. New technologies and remote management are used to ensure your comfort and provide automatic control of heating, air-conditioning and watering of the garden. Your fitted kitchen is to be lived in, welcoming and functional: it leads to a dining area and opens on to the garden. An attractive fireplace, door and window frames enhance the elegance of the Provençal architecture. Everything has been designed with your well-being in mind.
Without forgetting that you will benefit with all Leaseback advantages like the VAT refund and take advantage of this sensible investment opportunity. Own an overseas investment property on the French Riviera. Enjoy a good mix of investment and leisure; use your property during your vacation and a guaranteed rental income while you are away. If you are passionate about golf, you love the landscapes of greens and fairways, you dream of playing in the sun, "Pont Royal Mas Tilia" is for you!
SEEKING A MORTGAGE IN FRANCE?
When you make a purchase as important as a piece of real estate in a foreign country, you want to know that you can trust the people you are dealing with. Adrian Leeds has developed a network of professionals that meet only the highest of standards. With the expertise and experience of Adrian and her team, you can depend on getting the best advice and support to feel completely confident that you are making an informed investment decision.
Let us help you secure a mortgage in France at a competitive interest rate. Visit http://www.adrianleeds.com/frenchproperty/loan for more information or contact
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We wanted better guides.
So we wrote them.
Insider Paris Guides are written for people who love the City of Light. You’ll get a Paris insider perspective on Restaurants… Making a Life… Black Culture… Expat Writers…and the newest guide, Practical Paris!
French Property Insider subscribers receive a discount of 10% off any guide and up to 25% off the entire purchase (if two or more guides are purchased at the same time). Here’s how it works:
1. Click on special Web link we give you just for FPI subscribers.
2. Then order one or more guide(s) and use the promotion
code "ED762." This promotion code gives you 10% off your total
3. If you order two or more guides, then an additional 15% will be
taken off automatically. There is no promotion code needed.
Here is the special "coupon" Web link just for you:
THINGS YOU NEED TO KNOW
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Past issues of FPI are available on the website. You will find the
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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/
Welcome to your home in Paris. Home is how you will feel in a private apartment in Paris that has the "seal of approval" from Parler Paris Apartments and me, Adrian Leeds.
Parler Paris Apartments offers high quality accommodations to make your stay in the City of Light as enjoyable and memorable as possible. We at Parler Paris know each and every apartment owner or manager personally, and stand behind the quality of those we represent. We understand your needs and desires, all the small details that make a rental apartment a warm and welcoming home – and a much better alternative to an impersonal hotel!
Parler Paris Apartments is administered and serviced by the same great team as Parler Paris, French Property Insider and French Property Consultation. You can trust that Parler Paris Apartments and all those with whom it is associated will do their best for your 100% guaranteed satisfaction.
ong>Les Portes de Notre Dame Les Portes de Notre Dame is a charming and spacious one-bedroom duplex apartment centrally located just one block from the Seine and only a few steps from the cathedral of Notre Dame… Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/portesdenotredame.html 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 2010, Adrian Leeds®
Rue des Trois Portes, 5th Arrondissement
Latin Quarter — Two Steps from Notre Dame
One-Bedroom Duplex, Sleeps up to 4
or email: Apartments@AdrianLeeds.com
Adrian Leeds Group, LLC, http://www.adrianleeds.com
ong>Les Portes de Notre Dame
Les Portes de Notre Dame is a charming and spacious one-bedroom duplex apartment centrally located just one block from the Seine and only a few steps from the cathedral of Notre Dame…
Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/portesdenotredame.html
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 2010, Adrian Leeds®