Pushing Up Paris Property Prices
Parler Paris Previews…
Wednesday, August 16, 2006
Rent the personal Marais apartment of Adrian Leeds
Dear Parler Paris Reader,
The Paris property price reports for first quarter 2006 are hot off the press! The figures are reported quarterly by the INSEE, the French National Institute for Statistics and Economic Studies. It’s quite a brilliant source of information, especially if statistical information helps you make important decisions.
The property prices of Paris and the Ile-de-France, of course, are my fascination, both as a Paris property owner and consultant on the subject to would-be investors. I get goose-bumps each time I see the new charts appear on the Web site of the Chambre des Notaires de Paris in anticipation of how my own arrondissement is fairing against the others, how much my property has appreciated in the last year and of course, the trends of the rest of the city.
Once again, prices are up on the average more than 12% and in some districts as much as 20%. Paris continues to boom on a steady climb and has for the last eight years. My little “quartier” is again above average and I’m thanking my lucky stars for having landed here by sheer synchronicity.
The districts showing the least amount of growth are, interestingly, those North Americans love most — the 5th (Latin Quarter and Sorbonne), the 6th (Saint-Germain-des-Prés) and the 8th (Champs-Elysées). Coincidence? No!…the foreign market simply drove the prices up to a point where they had to level out for a while in those areas, but the 6th arrondissement continues to lead the pack with average costs per square meter well over 8,000 euros.
Everyone talks about the “bubble bursting,” but that could be true if a “bubble” existed in the first place. We are seeing a tiny shred of slow-down, but our first-hand experience is that the few good properties on the market are being priced correctly to sell, are being sold quickly at the asking price and that contributes to steady growth. Interest on mortgages has risen slightly, but money is still a lot “cheaper” and property taxes are ridiculously lower than in the U.S. or Canada, so ownership in Paris is still attractive.
Plus, not only is the rental market virtually year-round (except for August and January), but Paris isn’t in threat of the usual natural disasters (earthquakes, hurricanes, flooding, mudslides, etc.) and the hundreds of years these buildings have stood are likely to stand another several hundred years the way the city looks after them with such care.
Normally, I hold this good news for the readers of French Property Insider, and of course, in tomorrow’s issue I’ll be talking about Paris property prices at great length — in much more detail with all the charts and graphics that make it so fascinating. But I couldn’t help sharing our good fortune with all of you who I know have a special interest in Paris, not just as a great place to visit, but a place on earth we can have great affection for.
A la prochaine…
P.S. Take advantage of this month’s SPECIAL OFFER — only until August 31! Now’s your chance to subscribe to French Property Insider for TWO years and get TWO EXTRA months, absolutely FREE! To learn more, visit /frenchproperty/insider or go directly to subscribe at /frenchproperty/insider/subscribetofpi.html
P.P.S. We’re going to have a booth at the second annual “Welcome to Fran
ce Fair” sponsored by Expatica.com on October 15, 2006 at the Carrousel de Louvre here in Paris. We’ll also be speaking on the subject of finding property sometime during the day, so be sure not to miss that (we’ll let you know at what time we’ll be on the podium) and if you’d like to get free tickets, sign up online before September 15th. For more information visit http://www.expatica.com/welcometofrance and to sign up for your free tickets, click here:
To access the complete Community Calendar, you now have two choices:
1. Click here for the online version with hot links to your favorite sites:
2. Click here for a printer-friendly text version:
We gladly run announcements for non-profit organizations. If you wish your community announcement to appear, please provide the text in ENGLISH just as you’d like it to appear and send it to Lynda Sydney: Calendar@ParlerParis.com
We reserve the right to edit as necessary. We cannot promise it will be run if the information is provided in French or if the format is unacceptable. Please use the following listings as your format guide.
Thank you, Adrian
* Make sure your money goes as far as you do… HiFX takes the pain and guesswork out of currency conversion. For more information, click here: /frenchproperty/insider/currencyonlineconvertor.html
French Property Insider Consultation…your complete solution to finding, buying, renovating or renting your new dream home or apartment in France. /frenchproperty/consultation
SPECIAL OFFER — only until August 31! Right now, subscribe to French Property Insider for TWO years and get TWO EXTRA months, absolutely FREE!
This week in French Property Insider…
Learn how to buy property in France. French Property Insider is an e-mail newsletter from the editors of Parler Paris. Learn all the insights, recommendations, and discoveries about buying and investing in real estate in Paris and France that French Property Insider readers get every week.
Excerpt from the Insider Guide to Practical Answers for Living in France
. If you’re moving to France, this guide is a must! Get your copy now!
To read Jean Taquet’s latest column, visit /parlerparis/practicalanswers.html
* Explore Argentina and Uruguay October 3-14, 2006, in the company of Argentina’s top sommelier… meet the best wine makers from each country… dine in some of South America’s finest restaurants… stay in five-star hotels… take chartered flights across the continent… and be thoroughly pampered in every way. For details, call Agora Travel at 800-926-6575 or click here: http://www.agoratravel.com/winesouthamerica/pp
Living and Investing in France Conference
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 perhaps investing in property in France, this power-packed conference is a MUST. Hosted by Adrian Leeds, Editor of the Parler Paris Nouvellettre® and French Property Insider weekly e-zine and John Howell, lead attorney for John Howell & Co., Law Overseas, London, these two days in San Diego will arm you with all the information you need to make it happen!
Plus, earn $100 for every friend you refer…see the Web site for details.
For more information, visit Living and Investing in France Conference San Diego or email Schuyler Hoffman, email@example.com
* “Le Provençal” Studio: Available as of August 2006
Located in a very charming and quiet 18th-century building in the heart of Le Marais, this sunny studio is perfect for one or two seeking ultimate Parisian calm, flavored with the beautiful colors of Provence.
* Rent the personal Marais apartment of Adrian Leeds
Parler Paris Apartments
The next gathering is September 5, 2006
Because Adrian will be traveling to San Diego for the Living and Investing in France Conference the second week in September, the next Après Midi will be September 5th instead of September 12th.
So mark your calendars to be sure not to miss it! See /parlerparis/apresmidi.html for more details.
d sell with Parler Paris classifieds: /parlerparis/advertise.html
Pushing Up Paris Property Prices
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