Money Matters Meet Montpellier

Money Matters Meet Montpellier

Place de la Comédie, Montpellier
Photo by Wolfgang Staudt

 

French Property Insider

August 13, 2009
Paris, France
http://adrianleeds.com/frenchproperty/insider


Bonjour French Property Insider Subscriber,

It’s the quietest week of the whole year in Paris…the height of the vacation period and approaching "Assomption" this coming Saturday, August 15th. This is a tough time to be searching for property while the agencies and owners are on the beaches or in their holiday homes in the countryside.

Meanwhile, some of us are still working away, particularly the construction crews who are trying to ‘beat the clock.’ Both "Le Palace des Vosges" and "Le Saint-Tropez" are in the works. Read about both in today’s issue so you can keep up with the progress throughout.

There’s news today from Ryanair having added some new cities to their list of destinations, which will greatly affect the value of the properties in those cities…so, we focus on these areas of France that will become more accessible and therefore more desirable.

Money matters today, too…first, with an announcement of an upcoming Money Matters for Women Conference which will take place here in Paris Saturday, October 17, 2009 and at which I will be speaking on guess what? — "Property Investment in France." Registration begins September 1 — you won’t want to miss it if you can help it.

Second is news from Banque Patrimoine et Immobilier about how after years of building French real estate assets, the hour has come to put those assets to work…and they are really right!

Thirdly is news from Moneycorp about their new MasterCard Prepaid Card that makes money transfers even easier.

On a lighter note, Yve Saint-Laurent’s estate is going up for auction — always frivolous but fun to follow…perfect for the middle of summer and Paris’ most quiet hour.

A bientôt,

Adrian Leeds
Adrian LeedsEditor, French Property Insider
Email: [email protected]


P.S. Book your next stay in Paris now before the best Parler Paris Apartments get booked up! Visit http://www.adrianleeds.com/parlerparis/apartments for a fine group of luxury rental apartments you can trust.


Volume VII, Issue 32, August 13, 2009

In this issue:

* From the Ashes Will Rise…
* Register for the Money Matters Conference
* Learn About the Latest on LPDV
* FPI Fractional Property Offerings
* Putting Your French Assets to Work
* House Hunters International Episode Airs in September
* A Boost to Property Value in Southern France
* Moneycorp Introduces Pre-Paid Card Service
* Basic Tips to Buying Property in Languedoc-Roussillon
* Come Stay, Get FREE
* Parler Paris Apartments: Special August Rates!
* Discover Montpellier
* Lifestyle: A Look Yves Saint-Laurent’s Château Gabriel
* Hot Property Picks: Modest Merry Montpellier
* Notaires’ Property Auctions Take Summer Break
* Two Property Shows in the Fall
* How You Can Obtain a Mortgage in France
* Parler Paris Après-Midi: Summer Break
* Managing Your FPI Subscription
* Subscribers Receive Discount on Insider Paris Guides


Demolishing Saint-Tropez and Giving a Face Lift to Brigitte
By Adrian Leeds

The demolition of Le Saint-Tropez (a.k.a. "viager") terrace rental apartment began this week and is well underway with our contractor exclaiming wildly about the tons of debris taken from such a small apartment to be overwhelming.

The 22 square-meter apartment had been hand sculpted with white stucco columns, nooks and niches, including a false set of stairs leading to nowhere, to look like a Grecian village. While the style set a certain mood, it made only sense to demolish it completely to expose its true elements befo

re developing a floor plan. At least two s
quare meters have been gained from the removal of the walls presenting an entirely different view of the space from what was there before the hammer hit the walls.

In the process, the old wood beams will be exposed and parts of the ceiling opened entirely to have views of the "combles" (attic) and skylight. An ancient wood floor has been discovered under the modern one, but to what quality is not yet known. If acceptable, it will be refinished to like new.

Down the hall lies the "chambre de bonne" which is a mere 8 square-meter space, but with two large windows overlooking beautiful Marais courtyards. It will make a perfect "studette" to use as an auxiliary bedroom and bath to the Saint-Tropez. It is to be christened "La Brigitte," in honor of Brigitte Bardot who put Saint-Tropez on the proverbial international map, and will include a small but efficient full bath with shower, toilet (electric) and vanity sink.

Renovation is scheduled to take about three to four months with occupancy projected for the end of 2009. Reservations and booking will be online soon for those willing to take the risk it will be all that is promised!

To read about Le Saint-Tropez’s fascinating history, visit http://www.adrianleeds.com/parlerparis/viager/.


Money Matters for Women Conference
Saturday, October 17, 2009
REGISTRATION OPENS SEPTEMBER 1ST!

If you’ve never benefited from financial coaching, this is the place for you!

Come hear Adrian Leeds enlighten you on "Property Investment in France" 2 p.m. to 3:15 p.m.!

MONEY MATTERS FOR WOMEN is a half-day conference held in Paris, France for today’s global woman who wants to understand her current financial situation, plan intelligently and take proactive steps in managing her money.

The conference features:

- A dynamic keynote speaker
– Nine concurrent presentations and discussions with professional financial information
– A closing session for all conference attendees and a networking cocktail reception to end the day

This conference recognizes that women have unique financial goals and challenges which must be addressed. So invite your daughter, friend or neighbor to share in this empowering experience and walk away with more confidence and the tools to own your financial future.

The Money Matters for Women 2009 conference is presented by WICE and hosted by The American University of Paris. Special thanks to Smart Women Products for their continued support of this conference.

For more information and to register, visit http://www.moneymattersforwomen.org.


Follow the Renovation Process of Le Palace des Vosges…
By Adrian Leeds

August 13, 2009

The final details are being attended to like adding icing on the cake. As with more renovations, the elements came together quickly to produce one magnificent space — even more beautiful than we might have imagined.

By the end of next week, virtually element will be in place and we’ll have proper photos to show off. Meanwhile, all those who have visited the apartment have swooned with delight and more importantly, those who have come and relaxed on the velour sofa or leaned on the zinc bar, have not wanted to leave…but just stay and enjoy the elegant surroundings for as long as possible.

Our hats go off to Benoit Salun and Martine di Matteo for a brilliant creation that we are sure will be enjoyed by all who have the pleasure of owning and using it.

Stay tuned for the final showing…coming soon!

Editor’s Note: Only one share remains at the lowest price and prices are certain to increase September 2, 2009. For more information, visit http://www.palacedesvosges.com.


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To see our latest Fractional offerings go to http://adrianleeds.com/frenchproperty/fractional/fractional_offerings.html


The World is My Oyster
By Mary Fort

http://www.ftadviser.com/

World is My OysterAfter years of building French real estate assets the hour has come to put those assets to work

The global economic environment has left its mark on the market for secondary homes in France.

Yet now, after a year of falls driven by a marked and unanimous wait-and-see policy, non-residents are renewing their interest in the market. But all is not as it was before. The tentative return of non-residents is underpinned by a hidden but radical transformation in the make-up of the buyers. Let us start with their nationalities.

The cumulative presence of the British, Americans and the Irish, who accounted for about 60 per cent of the market up to mid-2008, has fallen to 39 per cent over the course of the first six months of this year. Interestingly, the retreat by the Americans has been compensated somewhat by the arrival of a greater number of Canadians.

The latter, whose currency has faired better than the dollar on the foreign exchange markets, accounted for 5 per cent of international loans made by a French bank, a figure that went some way to compensating for a 6 per cent fall in loans to Americans over the same period…

One consequence of the general retreat of English speakers from the secondary homes market, has been a notable diversification of the nationalities of those buyers remaining in the market. Unlike the British and Americans, France’s neighboring countries such as Italy, Switzerland, Belgium and Holland have not suffered as a result of exchange rate movements and have sustained their interest for investing in holiday homes throughout France. There have also been new entrants into the market, notably from emerging areas such as Latin America, east Asia particularly Hong

Kong with a return of
the Middle East market also. Ukrainian and Russian buyers, following a significant withdrawal from the market at the beginning of the crisis, are now active again, particularly in the southeast of France and in Paris…

At the same time, non-residents already present in the French property market are increasingly taking the opportunity to benefit from the relatively positive – at least compared to other asset markets – performance of their real estate assets and the strength of the euro. Many are refinancing in order to release equity from their investment with a view to investing in other real estate projects in France or abroad; to payback mortgages in their home countries; to build and improve their investment portfolios; or to finance work. After years of building French real estate assets many now believe the hour has come to put those assets to work…

To read the entire article go to http://www.ftadviser.com/The-world-is-my-oyster.jsp

World is My Oyster

Editor’s Note: Mary Fort is head of International Development at Banque Patrimoine & Immobilier and has been a long time associate/speaker with French Property Insider’s Living and Investing in France conferences.

 


Adrian Leeds and French Property Consultation on HOUSE HUNTERS INTERNATIONAL!

Tune In:
September 01, 2009 10:00 PM ET/PT
September 01, 2009 2:00 AM ET/PT

To learn more, visithttp://www.adrianleeds.com/parlerparis/calendar.html or email Adrian Leeds, at [email protected].

 

 


French Property Gets Boost as Ryanair Announces New Flights
But Caution Also Advised

Compiled by Schuler Hoffman

Currency OnlinePeople looking to buy property in France may benefit from a range of new flights being launched by budget airline Ryanair. The carrier has announced it is establishing a new hub of operations at Leeds-Bradford Airport, with a number of French destinations among the locations it will serve. It has listed Limoges, Montpellier and Carcassonne among the 14 destinations all over Europe including France, Italy and Spain, among others, that will be served by the airport from March 2010.

It has often been the case that when a low-cost airline such as Ryanair or Easy Jet introduced service to areas whose access was more remote, it sparks investment and tourism and a subsequent increase in property values.

Low-cost airlines homed in on secondary airports and former military airfields that weren’t used by mainstream carriers. But this led to the less welcome trend of "Ryanair’s Revenge," when these airlines started to pull under performing routes, leaving those who bought locally high and dry.

Trisha Mason, the Languedoc-based director of Validus Financial Services, which specializes in arranging French mortgages for overseas buyers, witnessed the southern French property boom triggered by the opening of cheap routes.

"Nowhere was this more evident that in Limousin, where Buzz and, when they collapsed, Ryanair operated flights to Limoges, a region that had always boasted some of the cheapest properties in France because of its inaccessibility," Mason says.

"British buyers flocked there to buy old farmhouses and prices shot up, generally by about 25 per cent as soon as a new airline route was announced – and that continued for at least four years, meaning a 100 per cent increase overall," says Mason, who is now selling her exquisitely renovated Roman farmhouse, Mas du Poet, in Uzes for £1.93 million.

Southern France’s Languedoc region has recently been put on the map by Ryanair. Now tiny local airports such as Beziers and Carcassonne see a constant flow of British commuters making the most of 1p flights.

Currency Online"I’m sure if Ryanair pulled out of Carcassonne it would have an adverse effect, although Beziers is only an hour’s drive away," comments Shaun McLoughlin, who rents out a beautiful three-bedroom stone Villa des Rosiers half an hour from Carcassonne (www.villa-france-minervois.com) and lives next door. "This is our first operational year and we are surprised at the level of business, with 17 confirmed weeks and eight for next year."

According to Julian Cunningham of Knight Frank estate agency, the top end of the market isn’t affected greatly by the loss of low-cost flight
routes. "But at the entry level of around £160,000, losing a route has a massive impact, particularly on buyers who depend on rental income," he says.

But the loss of a low-cost air route now, Mason says, may not hit the Languedoc region as badly as some might expect. "Around 40 per cent of property buyers in France are buying to live there, so the only impact will be that it becomes harder or more expensive for people to visit them," she says. "We have also seen growing disillusionment with low-cost airlines as the additional costs increase, so many buyers have returned to road and rail."

How to hedge against the impact of route losses:

Don’t get stuck if an airline pulls out. Buy near holiday hubs or capital cities served by numerous airlines. Flight services are more reliable and air fares are competitively priced. This is important if you are dependent on rental income from other holiday makers.

Buy within easy access of a train station. With Eurostar and new fast routes to the south coast, traveling by train from Britain to Europe is becoming easier, faster and not always more expensive than flights, particularly in peak season.

Drive. If you have the luxury of time, and enjoy the journey as much as the final destination, then traveling overland across France and beyond needn’t be a drudgery. It’s also more eco-friendly and saves on the hassle and expense of rental car once you’re there.


 

 

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For the latest exchange rate use our currency converter at http://www.adrianleeds.com/frenchproperty/loan/moneycorpconvertor and learn more about moneycorp here:
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Buying Property in the Languedoc-Roussillon – A Primer
By Darren Green

Three things to remember when buying property in the Languedoc Roussillon:

Over the last ten years the number of foreign property buyers purchasing in the Languedoc Roussillon region of France has increased dramatically and this trend looks set to continue for some time to come. Nevertheless property buyers who are new to the region need to be aware of a few things before they leap into abyss of property buying.

First, you will probably want start your search by looking at Languedoc properties on the Internet. Remember, however, that the photos you see will only tell you a small part of the story. Chances are that no matter how good the photos, they will not replace actually going and viewing the property. Internet research should really only be used to get a sense of what’s available in your price range.

Second, there can be a big disparity between the initial asking price of a property and the actual price the vendor is willing to accept. Unlike other areas ,where property is on the whole realistically priced, French sellers will often put their property on the market at a high price, hoping perhaps to catch an unaware buyer who hasn’t done their research. It is only by viewing a large number of properties that a buyer can really get a sense of what the going rate is.

Finally, if
you want to be taken seriously by a French estate agent then don’t say you are looking for a property in the Languedoc-Roussillon. The region is very large. This would be similar to declaring to a US real estate agent that you are looking for a property somewhere in the United States. Before you start looking for a house, visit the region and make a decision on which area or department where you actually want to buy. Most French agents work within a certain section of the region and will not waste their time if they think you are clueless about where you want to be.


One-Hour Consultation with Adrian Leeds Free!

Currency Online

 

If you are a guest staying in any one of our luxurious Parler Paris Apartments, and would like to consider having your own "pied-à-terre" for your pleasure and profit, contact Adrian Lees for a FREE one-hour consultation while you’re enjoying the apartment in the City of Light. Visit http://www.adrianleeds.com/parlerparis/apartments for more information or email me at [email protected].

 


PARLER PARIS APARTMENTS

Last Minute Deal at all Parler Paris Apartments. All stays of 4 nights or more will be priced at the weekly reduced rate during the month of August!

Parler Paris Apartments 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 heir best for your 100% guaranteed satisfaction.

SPOTLIGHT APARTMENT(S): L’Aubergine

Cité Dupetit Thouars, 3rd Arrondissement
1-Bedroom, Sleeps Up to 4

’Aubergine sits tucked away on an historic and quiet "cul de sac," making it an oasis of peace and calm. This second floor apartment (two flights), has two large bright windows that face a classic Parisian courtyard. With digicode, intercom entry system and elevator, it has been completely newly renovated and professionally decorated to the height of luxury, with a soothing "aubergine" (eggplant) and taupe color scheme. Everything in the apartment is new, from the designer linens and towels, to the appliances and electronics.

Stays of 4 nights or more will be priced at the weekly reduced rate during the onth of August!

www.adrianleeds.com/parlerparis/apartments/rentals/aubergine.html.

Reserve now! Visit www.adrianleeds.com/parlerparis/apartments or email:[email protected].


Getting to Know Montpellier
Compiled by Schuyler Hoffman

Located in the Herault department, Montpellier has enough class and beauty to match any town in France or indeed Europe, displaying an array of stylish buildings, open squares and fountains. It is the capital of the region. Montpellier University attracts a large student population with its highly acclaimed Faculty of Medicine.

The variety of architecture is astonishing with its development of futuristic flats, offices and hotels while also maintaining 17th century mansion houses and its new Antigone quarter. The 18th century marble Place de la Comédie is the liveliest part of town with an ornate fountain at its center and plenty of cafes facing the nearby opera house.

http://en.wikipedia.org/wiki/Montpellier

The city is situated on hilly ground 10 kilometres (6 mi) inland from the Mediterranean coast on the River Lez. The name of the city, which was originally Monspessulanus, is said to have stood for mont pelé (the naked hill, because the vegetation was poor), or le mont de la colline (the mount of the hill).

Montpellier is located 52 kilometres (32 mi) from Nîmes, 168 kilometres (104 mi) from Marseilles, 248 kilometres (154 mi) from Toulouse. It is at a distance of 750 kilometres (466 mi) from Paris.

Montpellier’s highest point is the Place du Peyrou, at an altitude of 57 m. The city is built on two hills, Montpellier and Montpellieret, thus some of its streets have great differences of altitude. Some of its streets are also very narrow and old, which gives it a more intimate feel.

During the 19th century the city developed into an industrial center. In the 1960s, its population grew dramatically after French settlers in Algeria were resettled in the city following Algeria’s independence from France. In the 1980s and 1990s, the city drew attention with a number of major redevelopment projects, such as the Corum and especially the Antigone District.

The University of Montpellier is one of the oldest in the World, 1160, having been granted a charter in 1220 by Cardinal Conrad von Urach and confirmed by Pope Nicholas IV in a papal bull of 1289. It was suppressed during the French Revolution but was re-established in 1896.

Montpellier is served by railway, including TGV trains. Montpellier’s main railway station is St Roch. The Montpellier-Méditerranée Airport is located in the area of Fréjorgues, in the town of Mauguio, southeast of Montpellier.

The TaM (Transports de l’agglomération de Montpellier) manages the city’s public transportation, including its tramway network consisting of 2 lines and several parking facilities. Line 1 runs from Mosson in the west to Odysseum in the east. Line 2 runs from Jacou in the northeast to St. Jean-de-Vedas in the southwest. They intersect at Gare St. Roch station, Place de l’Europe and again in front of the Corum. Work on Line 3, which is planned to be in service by 2012, will start in the near future. This 22.4 km (13.9 mi) line will link Juvenac and Perols with a branch to Lattes and will serve 32 stations. The TaM is also managing the large bike sharing scheme "Vélomagg," started in June 2007, comprising 1200 bicycles and 50 station.

Property in Montpellier

Like many popular towns in France prices of property for sale in Montpellier can be at a premium. Both villas and apartments are available and, due to its coastal location, attracts both the French and foreigners alike – making for a very busy rental market. Property in Montpellier is a good investment. If you are on a tight budget then cheaper property can be found further inland in one of the smaller surrounding villages.


Christie’s Announces Second Yves Saint-Laurent Collection Sale in Paris

http://www.artknowledgenews.com

PARIS.-Christie’s, in collaboration with Pierre Bergé and Associates, announced the second sale of the Yves Saint-Laurent and Pierre Bergé Collection that will take place in Paris on 17th, 18th and 19th November 2009. Proceeds of the sale will benefit H.I.V research and the fight against Aids.

Almost 1200 works of Art from Château Gabriel à Bénerville as well as from the Parisian residences of the two collectors will be presented for sale. Seventeen specialist departments are involved: Old Masters and 19th Century Drawings and Paintings, Impressionist and Modern Art, Prints, Contemporary Art, Decorative Art, Furniture, Sculpture, Ceramics, Silver, Asian and Islamic Art, Antiquities, African and Australian Art, as well as pieces from Natural History, Books, Jewellery and Textiles. The value of the sale is estimated between €3 million to €4 million.

Chateau Gabriel
This property, certainly one of the most beautiful on the coast of Normandy, was built in 1874 for an American family. Yves Saint-Laurent and Pierre Bergé bought it at the beginning of the 1980’s. Eclectic in style, Château Gabriel is situated in the heart of a 74 acre park on Mont-Casiny in Bénerville, overlooking Deauville.

Yves Saint-Laurent and Pierre Bergé asked Jacques Grange to decorate the interior design. Together, they decided the decoration would seek inspiration from the world of À la Recherche du Temps Perdu, the atmosphere of the castles developed by King Louis II of Bavaria around Munich between 1869 and 1890, and the decor of Luchino Visconti’s films, especially Innocente which was Yves Saint-Laurent’s favorite.

In 2005, Jacques Grange told the New York Times: “I adore Château Gabriel. It is an incredible, extraordinary house. I would love to completely dismantle it and spread its spirit around the world”. Yves Saint-Laurent described his house in Bénerville as follows: “This is my haven between two storms. I come here to rebuild my strength”.

on
t>

The Ground Floor: The Entrance Hall, The Living Room, The Winter Garden, Yhe Library and The Dining Room

The ground floor opens on the entrance hall, illuminated by a magnificent 19th century Dutch ceiling light made of copper with 34 arms (estimate: €50,000-70,000). The wooden steps of the grand staircase are reflected by a monumental 19th century mirror (estimate: €30,000-50,000). Further away, in the gallery leading to the living room and the library, sits a large Fahua type Ming Dynasty Chinese basin from the early 16th century (estimate: €40,000-60,000).

The living room: From the Napoleon III sofas and armchairs, one could enjoy Luna, a work by Sir Edward Burne-Jones, which was sold last February for a record price of €1,095,400. Yves Saint-Laurent wanted the walls painted in a way that would remind him of Claude Monet’s large Nymphéas, because this famous artist inspired Marcel Proust for his character of Elistir, the painter in A la Recherche du Temps Perdu. In this room, the furnishings were carefully selected to evoke the world and oeuvre of Proust: a group of six neo-Gothic rosewood chairs dating from Charles X (estimate: €15,000-20,000) sit on an Agra rug with Cairene motifs, made in Northern India at the end of the 19th century (estimate: €20,000-30,000). A multitude of objects, 19th century Barbotine ware, porcelain dishes, vases, flower pots as well as bowls and plates signed by André Metthey (estimate: from €800) and candleholders are all on display, reflecting the epitomy of taste and elegance…

To read the entire article go to http://www.artknowledgenews.com/2009-08-11-20-16-13-christies-announces-second-yves-saint-laurent-collection-sale-in-paris.html


HOT PROPERTY PICKS: Modest Merry Montpellier

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.

This week we focus on some interesting property opportunities in Marseillan.

***Montpellier: One-bedroom, approx. 50m²

Downtown, close to "Place de la comédie",in a 19th century stone building, lovely two room apartment on the 2nd floor with elevator. Includes living room, kitchen, bedroom, toilet and wc. Entirely renovated.

Asking Price: € 145 000 + 2.5% Finder’s Fee

 

   

***Montpellier: Two-bedroom, approx. 78m²

Conveniently situated in the center of Montpellier, this spacious two bedroom third floor flat offers a naturally bright living room, two good-sized bedrooms, closets, independent kitchen, Bathroom, cellar and balcony.

Asking Price: € 220 000 + 2.5% Finder’s Fee

 

   

***Montpellier: Four-bedroom, approx. 125m²

Splendid apartment in an 18th century building with view on Place de la Comédie. Apartment consists of: entry with access to the dining room, living room and kitchen, bathroom with WC, two bedrooms, bedroom on mezzanine, bathroom, WC, two balconies and a cellar. Each room contains a fireplace. Beautiful high ceilings. The central room (21 M²) can be used as a second living room or office. Elevator in the residence and possibility of parking. Charming decor with southern exposure.

Asking Price: € 535 000 + 2.5% Finder’s Fee

 

   

***Montpellier: Two-bedroom, approx. 165m²

Located in the historical center of Montpellier, this beautifully presented four bedroom second floor apartment offers a large living room with wooden floor, two bathrooms, fully-equipped kitchen, air conditioning and a s

tunning 60sqm terrace with teak flooring.

Asking Price: € 680 000 + 2.5% Finder’s Fee

   
       
       

Summer Break for Notaires’ Property Auctions

Notaires de Paris
Place du Châtelet
12 avenue Victoria
Paris 1st

 

Additional information on Les Ventes aux Enchères des Notaires can be found on the Web site at www.encheres-Paris.com.

To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
www.adrianleeds.com/frenchproperty/insider/members/content/articles/auctions1.html

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