Taking the Tour from Tonnerre to Vittel
Bastille Day Fireworks
July 16, 2009
Bonjour French Property Insider Subscriber,
With Bastille Day behind us and summer vacation at our doorstep, we take time today to bring you a variety of information about purchasing property in France as well as a glimpse of the pleasures of life in this diverse and rich cultural setting.
First, we bring you an overview of some of the legal and tax issues you will encounter when purchasing a property in France — of which there are many things to consider.
There is a full account of the Bastille Day activities, as reported in Wednesday’s Parler Paris with a link to a video of the finale of the fireworks at the Eiffel Tower — don’t miss this!
From the Tour de France, we follow the route today from Tonnerre to Vittel and pick some Hot Properties along the way to be considered. Meanwhile, 34 year-old Nicki Sorensen earned his first stage victory at Vittel today and next week, we’ll follow it close to the finish line on the Champs-Elysées.
Portugal beats France for the number one most searched for destination to buy a home abroad based on country page views, and property views on www.homesoverseas.co.uk, but France has moved up a notch. Read more about it. Buyers are looking for bargains and the European property market is up by 12% in spite of the economic woes worldwide. Read all about these topics from our sister publications.
Summer is a good time to consider applying for a mortgage in advance of your search for property — as a pre-approval will go a long way, once you begin the process, so visit http://www.adrianleeds.com/frenchproperty/loan for more information about how to begin.
Parler Paris Apartments, http://www.adrianleeds.com/parlerparis/apartments, is interviewing owners of rental apartments to add new properties to our mix, so if you have an apartment in central Paris or know of someone who does and wants to improve his occupancy rate, email John Rule at email@example.com for more information.
Editor, French Property Insider
P.S. Don’t forget that there will be no FPI on July 30th when we take a brief vacation…back on August 6th!
Volume VII, Issue 29, July 16, 2009
In this issue:
* Things to Know Before You Buy Property in France
* FPI Fractional Property Offerings: New Additions
* Lifestyle: Celebrating Bastille Day 2009
* Come Stay, Get FREE Consultation
* The State of European Property Transactions
* Currency Update: New Partner, New Converter
* Le Tour de France and Property Too
* Where is the Most Sought After International Property?
* Parler Paris Apartments: L’Aubergine
* Hot Property Picks: Tonnerre Vittel Sell Well
* Discover Bargains in French Property
* Results of the Last Notaires’ Property Auction
* 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
When an non-French person purchases a real estate in France, he worries about what will happen to it after his death.
Considering, French as well as English private international inheritance laws, the real estates are submitted to the law of the location of the property.
Thus, at the death of the owner of a real estate purchased in France, this immoveable asset will be submitted to French inheritance law. But French law, contrary to English law, h
as rules which guarantee a reserve
d share in the estate to some heirs (children, or failing that, the father and the mother). To avoid this rule and to allow for example the surviving spouse to dispose of the real estate located in France, different methods exist such ad the “tontine”, the change of marital scheme, and, with reserves, the purchase by a civil company (SCI: Société Civile Immobilière), or, the capital contribution of the real estate to an SCI On the other hand, the “indivision” ownership can generate some difficulties.
What is a “tontine” agreement ?
“Tontine” is a creation of French law comparable to “joint tenancy.” With a tontine agreement, the purchasers of a same real estate agree that the survivor will become the sole owner of the jointly held property. With this agreement, the surviving owner can’t be worried by the privileged heirs of the deceased (heirs with a reserved share). A tontine clause can be inserted in a purchase contract when the real estate is located in France and when French law is the law applicable to the contract. That will be the case, when, in pursuance of article 3 of the Rome Convention of 19th June 1980, the parties of the sale choose to submit the contract to French law. In pursuance of article 4 a) of the same Convention, a tontine clause can also be inserted when the real estate is located in France (in default of choice of the applicable law in the deed of sale).
Civil aspects of tontine
To be valid, tontine must not interfere with the marital scheme of spouses. In this respect, English spouses, married under the English legal marital scheme of separate estates can validly include a tontine clause in the purchase contract. In other respects, to be valid, tontine clause must be inserted at the moment of the purchase. This is the first difference with the joint tenancy which can be included after the purchase. After the death of one of the owners, the real estate is subject to a particular status. It’s not an undivided property. The owners cannot put an end to tontine, except by mutual agreement. This is a second difference with the joint tenancy, which can be stopped unilaterally. In the same way, the real estate purchased with a tontine clause can’t be seized by the personal creditor of one of the owners, in fact, before the death of the other purchaser; this debtor has no right of property on this real asset. Finally if the joint tenan” surviving spouse is not taxed, the insertion of a tontine agreement in the deed of purchase will submit to inheritance tax or to ad valorem duties (“droits de mutation à titre onéreux”).
Tax aspects of tontine
In principle, in pursuance of 1st line of article 754 A of Code Général des Impôts (general tax Code), the real estate inherited in pursuance of a tontine clause inserted in a deed of purchase is submitted to the inheritance tax. If the purchasers are not relatives, the survivor may be subject to 60 % inheritance tax. This rule applies even if the purchasers are English, and, from a tax point of view, resident in England. In fact, in pursuance of article 4 a) of the Anglo-French Agreement of 21st June 1963, France can tax a real estate located in France.
The change of marital scheme
Often, following a solicitor’s advice, English spouses, married under the separate estates marital scheme (separate ownership of property marital scheme), consider purchasing an immoveable property in France after a change of their marital scheme. They wish to adopt the French marital scheme of communal estate (joint estate of husband and wife comprising all property, present and future) with a clause awarding the joint ownership to the surviving spouse. In this settlement, the property is not individually owned by one of spouses. It is a joint ownership property and the couple manages this communal estate. After the death of one of the spouses, the clause awarding the joint ownership to the survivor will be effective and the property will be owned by the surviving spouse.
The change of law applicable to the marital scheme
In application of article 6 of The Hague Convention of 14th March 1978 on applicable law of the marital scheme, a married couple under the legal English marital scheme can adopt the French marital scheme of communal estate. Article 6 provides that a married couple can change the law applicable to the marital scheme during the marriage and adopt, within some limits, the law of their choice.
The married couple’s choice
First, a married couple can choose the law of a state which one of them has the nationality. If one of the spouses is French, they can choose any French marital scheme, and, in particular, the communal estate with a clause awarding the joint ownership to the surviving spouse. Then, if one of them has a customary residence in a specific state, they can choose the law of this state. So, if one of the spouses has a customary residence in France, they will be able to choose a French marital scheme. Finally, the spouses can choose, for immoveable properties, or some of them, the law where these real estates are located. They can also prescribe that the real estates acquired later will be submitted to law where they’re located. Thus, if a married couple owns an immoveable asset in France, or on the point of purchasing, they can choose the marital scheme with a clause awarding the joint ownership to the surviving spouse.
Effects of marital scheme changing
In the two first cases, that is to say when one of the spouses has the French nationality or has his residence in France, the change of law is effective on the spouses entire assets, wherever their location.In the third case, only the real estates are affected by the change of law. So, when the real
estates are located in France and when the spouses choose the marital scheme of community estates with a clause awarding the joint ownership to the surviving spouse, the latter will be the owner of the real assets and will dispose of it as he wishes. In this last case, if the applicable law of the estate is the French law, the common children of the couple (privileged heirs) will receive their reserved share at the death of the second spouse. But, always if French law is applicable to the estate, and if there are children who are not common in the couple, the privileged heirs of the deceased will can ask their reserved share immediately after the first decease. The SCI
An SCI (Société Civile Immobilière) is a kind of company of French Law. It has the advantage to be distinct from its members. The asset acquired by the SCI belongs to the company and not to its members. And the departure of one of them doesn’t lead to any kind of changes.
Interests to form an SCI
To avoid the French inheritance rules of the reserved share, one could suggest to British persons, domiciled in Great Britain to form an SCI in France. Either the real estate will be purchased by the SCI or brought to the SCI in exchange of shares. In that case the real estate is not a part of the heritage of the members. The estates of the members of the company will be composed by shares in the capital of the SCI which are personal estate. But, in pursuance of French private international law, inheritance transmission of personal estate is subject to the law where the deceased was resident. If the deceased was domiciled in England, English law will be applicable. If he left a will with provisions in this way, his shares will be passed to the person of his choice : the French rule of the reserved share will not be applicable anymore.
Be careful to the law fraud
The use of a structure such as an SCI must not be damageable to the privileged heirs. If the intention of the deceased was to avoid the application of French law, it could be considered as fraudulent and sanctioned by French courts.
Tax aspects of an SCI The Anglo-French agreements govern the fiscal rules applicable to the SCI The immoveable assets located in France and owned by an SCI are subject to French tax laws (income from real property tax, capital gain tax, rental tax, inheritance tax). An SCI is submitted to the tax transparency. Each member of the company must pay the tax in proportion of his shares in the SCI.
The risks of “indivision” ownership : When an asset was acquired in “indivision” ownership, at the death of one of the spouses or more generally speaking, of one of the tenants in common, his share will be transferred to his heirs and not to his co-owners. Therefore, the “indivision” ownership can cause great difficulties. Particularly when there is a dispute between children and parents, when the parents have children from a previous marriage, or worst, when they have children who are still minors.
Source: Centre régional d’information et de documentation notariales Paris.
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
LE PALACE DES VOSGES
CHEZ LA TOUR
LE PETIT TRESOR
NOTRE MAISON DANS TOULOUGES
To see our latest Fractional offerings go to http://adrianleeds.com/frenchproperty/fractional/fractional_offerings.html
Parler Paris Nouvellettre®
Monday , July 15, 2009
I can’t remember a finer Bastille Day in the City of Light (and Fire!). For the person who doesn’t want to miss a single minute of life’s most exciting times, Paris is simply a cornucopia of thrills, particularly surrounding the year’s most important celebration — Bastille Day. This is the day the common people overthrew the monarchy, using the storming of the Bastille prison as the symbol of the "uprising of the modern nation" as it took place on July 14th, 1789…and the French have been celebrating it ever since.
Festivities began the evening before the 14th with the annual "Bals des Pompiers," public dances first launched in 1937 by the very fire station we chose to attend on rue Carpeaux in Montmartre. We started out early enough to have a light dinner with the "graduates" of the The Paris Summer Institute’s 12-day NLP Practitioner Certification course at "Au Rêve," a tiny bistrot/café on rue Caulaincourt, before heading over to the "Mairie of the 18ème" (city hall) arrondissement for various performances and a parade to the "caserne" (fire station).
In front of the carrousel at the Métro entrance of Jules-Joffrin facing the Mairie were positioned "Les Echos Râleurs," 35 very animated singers dressed in a kitsch rendition of Toulouse-Lautrec’s debauched Montmartre and having fun with their own antics to a local and very amused crowd, us being among them.
That was just the beginning of more than 24 hours of revelry.
The caserne of the 18th arrondissement is a beautiful building with a large courtyard making it a perfect venue for a party of enormous magnitude. Before the band began to play, a DJ was doing a fine job of playing oldies dance music, and meanwhile we plied ourselves with beer and champagne while flirting with the handsome young firemen who were manning the bar.
We danced in a group around a pile of our own belongings until my feet were throbbing and the old lady in me sent me crashing while the rest of the group stayed on for, obviously, more than they had bargained for. Bee-Lee, one of the NLP graduates, was dressed to ‘kill’ and determined to meet her fireman before the evening was over. Yes, I was with her when she got kissed(!), but I heard that after I left, she "got her Fireman and [they] have X-rated photos to prove it!"
A good night’s sleep was necessary to prepare ourselves for the next day. While we visited the progress of the renovation of "Le Palace des Vosges," our finest Fractional Ownership apartment which is 95% complete and looking more and more stunning each day as the chandeliers are being hung and the draperies installed, the planes flew overhead in the bluest of skies and the traditional military parade on the Champs-Elysées entertained the sideline spectators. It had been broadcast on television all morning, so an armchair seat was as good as it could have gotten under the circumstances, but more of a close-up than if we had been there in person.
We were more concerned with getting our place on the Champ de Mars for the free Johnny Hallyday concert and fireworks that top off the celebration with a literal bang. Arriving at 4 p.m. was not too early to get a center position for our blanket to spread fully and lay out an array of newly purchased picnic goodies on which we could ‘graze’ all afternoon while we waited for the ‘show to begin.’
It was warm and the sun was out, but cloud cover moved in and out quickly throughout the afternoon and evening. As the crowd began to grow thicker, our umbrellas went in and out, too, depending on whether we needed the shade or protection from the light mist, threatening a few times to rain, but never havi
ng the courage to disa
ppoint us. Some people were prepared with playing cards to pass the time. We ate all the things not on our diets, talked and observed the scene around us.
There must have been at least 500,000 people on the grass by the time Johnny got up on stage to perform with his band, back-up singers and his son, who played drums and sang, just like ‘Dad.’ A big screen gave us a perfect view of what was taking place on stage, although the sound and video were out of synch by about three seconds, making it somewhat comical. When Johnny came out, he appeared to be overwhelmed by the sight before him, taking quite a bit of time to catch his breath, suck back the tears and begin to sing.
He performed for too long…in my opinion. Less would have been more, but nonetheless, they love him and to have him kick-off the evening was a special treat for what everyone really was waiting for…the fireworks.
Each year I think it’s impossible the works could be better than the year before, but each year they are. Eiffel was a brilliant engineer — we all agree to that, to have constructed such a work of art of steel 120 years ago that we are still in awe of it, but the French continue to prove their engineering feats with something as simple as light and fire.
The fireworks display is a ‘ballet’ of music and light and fire, like nothing you have ever seen before. This year, they ‘drew’ on the tower with light in such a way that at one point "La Grande Dame" was ‘dancing’ every bit as wildly as we were the night before! A picture of M. Eiffel appeared, soldiers battled, the French flag waved, psychedelic flowers blossomed and the iron maiden took on a life of its own, all before our very eyes. It was amazing! And in coordination with all that was the sound and light show of the most sophisticated pyrotechnics imaginable — actually unimaginable.
The last portion of the display and crescendo to the finale was captured on video by my trusty Sony Cyber-shot…so you won’t miss a single minute of life’s most exciting times…in Paris. Watch the video to get a taste of the fun:
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 firstname.lastname@example.org.
Around £11bn was spent on all European property transactions in Q2 of this year, up 12% from the previous quarter, according to CB Richard Ellis (CBRE).
CBRE report that property in Paris, property in Barcelona, Madrid, and London, had attracted the greatest level of property investor interest.
“What the second quarter’s activity clearly reflects is that those markets that have seen greatest price corrections are seeing most transaction activity," Michael Haddock, director of EMEA Capital Markets Research told Reuters.
"This is particularly true of Spain and the UK, where investors have been attracted to the markets by a perception that they now offer good value," he added.
Stabile property yields has been cited as one of the main reasons for the increase in property investment activity levels, with the CBRE EU-15 all-property average prime yield having risen to 6.13% in Q2.
If you’re buying a holiday home or investment property overseas, when you trade your currency is crucial. The euro exchange rate is constantly fluctuating, so trading at the right time will mean your money goes a lot further. Adrian Leeds Group LLC and Moneycorp are working together to ensure you make the most of your Dollar or Sterling when buying a property in France.
For the latest exchange rate use our currency converter at http://www.adrianleeds.com/frenchproperty/loan/moneycorpconvertor.
Stage 12: Tonnerre to Vittel, 211.5 km
Thursday, July 16
This flat stage could be a new episode in the contest between in-shape sprinters. If they are strong and determined enough, firebrands will be capable of upsetting predictions that team managers make in the comfort of their cars.
• 1st-time stage-town
• Population 6,200
• County town of Yonne canton (89)
Two hours away from Paris and one and a half hours from Dijon, Tonnerre lays claim to a wealth of advantages in a privileged environment.
Traces of the city’s historic past are visible at every street corner, walking through the streets or strolling along the canal. Tonnerre possesses outstanding assets as a major tourist attraction: l’Hôtel Dieu des Fontenilles (medieval hospital complex) dating from the 13th century, the Saint-Pierre and Notre-Dame Renaissance churches, the Fosse Dionne, a reen-blue natural water source, developed as a circular lavoir, and the l’Hôtel d’Uzès, home to the mysterious Chevalier d’Eon.
Throughout its history Tonnerre has been associated with famous characters: Marguerite de Bourgogne, but also the Chevalier d’Eon, the Clermont-Tonnerre family, the Marquis of Louvois (minister under Louis the Fourteenth), Emile Bernard (founder of the Pont-Aven school) and Alfred Grévin, founder of the waxwork museum of the same name.
Tonnerre is also a gastronomic centre where good wine and gourmet food are part of the local heritage. Moreover, Tonnerrois white wines now bear the guarantee of origin label.
Property prices and availability in and around Tonnerre…
Burgundy is known to a discerning few rather than popular with the majority of foreigners who purchase property in France. This can keep prices more reasonable than in certain highly sought after regions such as Paris or Provence, but it is also true to say that Burgundy property tends to be higher priced than in regions such as the Limousin, or perhaps Poitou-Charentes. There is a good variety of property available, with elegant town houses, grand vineyard houses and country farms all featuring on the market regularly.
• 2-time stage-town
• Population 6,200
• County town of Vosges canton (88)
Vittel is first and foremost the eye-catching charm of a stylish architectural design and a preserved natural environment.
The town’s fine architectural heritage is one of its principal assets and bears witness to a fabulous past and a successful renovation program: Belle Epoque façades and majestic luxury hotels in the Art Deco style.
In a natural green and rolling landscape of bracing fresh air, Vittel is an excellent area for:
– walking, swimming, tennis, golf, mountain biking, horse riding …
– enjoying the thrills and spills of the Adventure Park
– discovering the view, fragrance, savour and contact of the Gardens of the Earth
– trying your luck at the casino or the racecourse
Vittel Thermal Spa, a resort dedicated to health and fitness, offers the beneficial effects of the healing waters of thermal cure treatments and Vittel mineral waters and thermal springs. Enjoy the intimate and elegant decor, designed as a haven of peace and light.
The cinema, multimedia library, Heritage Museum and the numerous cultural events organized by the town further enhance a revitalizing and refreshing break.
Editor’s note: See today’s Hot Properties below for interesting opportunities on the Tour route.
Property in Portugal remains the number one most searched for destination to buy a home abroad based on country page views, and property views, on www.homesoverseas.co.uk.
Portugal property enquiries have increased month-on-month since the beginning of 2009, having started the year as the fourth most searched for destination buy a property overseas.
Elsewhere, Turkey property has leapt from eight to fifth, French property is up from seventh to sixth, Thailand property has fallen a place to seventh, USA property has dropped from fifth to eight, Cyprus property is up one to ninth, while Egypt property has replaced Bulgaria property in to the top 10.
Here are the top 10 most searched for destinations in which to buy a home overseas at the moment, last month’s position in brackets:
1) Portugal (1st)
2) Spain (2nd)
3) Italy (3rd)
4) Greece (4th)
5) Turkey (8th)
6) France (7th)
7) Thailand (6th)
8) USA (5th)
10) Egypt (11th)
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
L’Aubergine sits tucked away on an historic and quiet Marais "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 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.
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 and nearby Tonnerre and Vittel France.
***Tonnerre: Two-bedroom, approx. 85m²
Right in the heart of a beautiful village (on the side of the shops), here’s an 19th century house totally renovated. A living room with fireplace, cosy bathroom, two toilets, two bedrooms, kitchen, livingroom with a fireplace, and brand new heating system.
Asking Price: € 105 000 + 2.5% Finder’s Fee
***Tonnerre: Two-bedroom, approx. 120m²
Located in Roffey, a little village 8km from Tonnerre, 15km to Chablis, 35km to Auxerre and about two hours south of Paris. The house consists of a ground floor with two main rooms a kitchen and square tower of 5 square meters. You can do rooms on top of all these rooms. The rest of the property can also be converted into living space. Needs total renovation.
Asking Price: € 69 000 + 2.5% Finder’s Fee
***Vittel: Four-bedroom, approx. 300m²
Located in the heart of Vittel, this charming large Maison is bright, sunny and quiet. There is a total of eight rooms, including large livingroom, kitchen, bath and toilet, four bedrooms with exposed stone and original woodwork throughout. Near plenty of shops, restaurants, caf&
Asking Price: € 315 000 + 2.5% Finder’s Fee
***Vittel: 3-bedroom, approx. 160m²
Near the villages of Vittel and Darney – Part of a calm area, this gorgeous farm property will steal your heart away as soon as you see it. Currently, the property has eight rooms waiting for renovation. The property’s features include a stone fireplace and a vaulted cellar, adding to the property’s authenticity and charm. Ideal for someone looking to run chambres d’hotes. Within easy acces are local schools and shops as well as a small, typical French village where the folk are friendly.
Asking Price: € 225 000 + 2.5% Finder’s Fee
France is currently the third most popular in the Property Abroad.com chart of the most popular destinations with overseas property buyers, according to their figures for June.
France has always been a very popular destination with overseas property buyers, but in recent months it had dropped out of the PA chart, but the increased interest isn’t tending to translate into increased sales, but this is expected the change gradually throughout the year, according to Les Calvert, portal director.
"The established property markets of Europe, including France have suffered the most from the crunch, and people are out there looking for bargains. Unfortunately for France, property sales have only really declined in the last few months and prices have held pretty firm. Analysts on the ground think prices will start to fall later this year, at which point the bargain hunters will start to find what they are looking for," he said.
Meanwhile there is a lot of conflicting messages about the state of the French economy:
An article on a blog over at NuWire investor this week congratulated France for its efficiency in getting the money allocated for its stimulus package out into the pockets of the people, although it did note the controversial way they have done this; having all their monuments and castles given facelifts and polish-ups. And we have reports that French industrial output unexpectedly rose in May for the first time in 9 months.
On the other hand French unemployment is growing as fast as anywhere in Europe, in fact the UK and France are suffering worst in the employment stakes.
At the moment the people looking to buy French property are predominantly lifestyle buyers, who don’t tend to care too much about the economy, so they will snap-up their bargains later this year regardless.
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 www.encheres-Paris.com. Though the site has a button for an English version, it isn’t necessarily reliable.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
|On July 7, 2009 the following properties were auctioned off:|
Editor’s Note: If you look at the properties on the Notaire’s site (www.encheres-paris.com), when you click on the information for a particular property there is also a link to Google Maps to show you exactly where the property is located.
* Exhibition of French Property Set for London *
A French property exhibition will be held in London in September, publisher Archant has said.
Run by lifestyle magazine Archant Life France, the event will take place from September 11th to 13th at Olympia, with the company stating that the recent exhibition held in Harrogate revealed widespread optimism about the French market.
Buying the right property in France could reap dividends over the next few years, French property law specialist at solicitors Furley Page Sarah Bogard said this week. She stated that the country is a buyers’ market and is offering falling prices.
* Luxury Real Estate Trade Fair Loves Paris in the Autumn *
Not everyone can afford a private island or a fancy penthouse on New York’s Upper East Side. Still, for those who can, an invitation to the Luxury Real Estate Trade Fair will be just the thing to make the autumn seem brighter. And where better to promote high-end property than Paris, the world capital of chic? This elegant ambience will be further enhanced by the venue, Paris’s famous Musée du Louvre.
On the 27th, 28th and 29th of November 2009 Prestige-Paris will celebrate its third birthday with the assistance of France Convention, a specialist in niche and luxury trade fairs. This year’s gathering will be required both to meet the visitors’ very demanding expectations and outdo last year’s exceptionally successful event.
The recent recession has failed to affect the luxury sector as much as the rest of the economy, in fact the latest figures have revealed that the Parisian real estate market has improved. It seems that the most beautiful and luxurious homes never fail to find a buyer, a thought that will encourage participants in this most prestigious property exhibition.
When you make a purchase as important as a piece of real estate in a foreign country, you ant 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.
HELPFUL CONVERSIONS FOR REAL ESTATE
1 square meter = 10.7639104 square feet
1 hectare = 2.4710538 acres
For more conversions, refer to: www.onlineconversion.com/
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