Topping It Off With the Tenth
Canal Saint Martin, 10th Arrondissement
(FOR SUBSCRIBERS ONLY)
December 13, 2007
Bonjour French Property Insider Subscriber,
Just this morning, a couple who lives and works here signed on a new apartment in one of Paris’ most livable districts…the 10th. A newly renovated apartment in a newly renovated building in an up and coming area of the 10th arrondissement was discovered and quickly snapped up as one of the city’s best bargains. At a little more than 7400€ per square meter, this spacious one bedroom with large windows overlooking a lovely courtyard with exposed beams, stone, antique "tomette" tiles and greenhouse-style contemporary kitchen was a unique find in perfect move-in condition at an impressive bargain.
It’s one flaw was a cellar that even the seller didn’t yet own. Read all about the Seller’s Cellar he doesn’t own in today’s issue, with Wikitravel’s detailed tour of the up and coming 10th district. If what you’re looking for is a residence with serious appreciation, this is where you will find it in Paris.
On the topic of money, we open up the bank account…or at least we will try! It isn’t always easy, but it’s clearly doable. Banking in France is a truly unique experience, since culturally France is loathe to handle the subject or the object (money). Bon courage!
Enjoy a variety of other articles from our usual great sources and have a look at today’s Hot Properties…in the 10th, of course.
Then, be sure to mark your calendar for January 6th when Mary Fort of Banque Patrimoine et Immobilier will be speaking with all of us about how to Beat the Decline of the American dollar by using the newest and most innovative loan products on the market today during a one-hour FREE Conference Call for all FPI subscribers. Scroll down to read more about it and to reserve your place on the call.
Meanwhile, have a great holiday season and use your free time to dream about your next property in France.
Editor, French Property Insider
P.S. It’s better weather in Miami! Book your place now at the Living and Investing in France Real Estate Conference February 16-17 in Miami, Florida. Scroll down for more information and to register.
Volume V, Issue 48, December 13, 2007
In this issue:
* Selling a Cellar
* Opening a French Bank Account
* Treats in the Tenth
* FREE Conference Call for FPI Subscribers
* Fractional Ownership
* French Property Market Strong
* Nice and the Riviera
* Train Brings London and Paris Closer Together
* Living and Investing in France Conference, February 16-17, 2008, Miami
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: January 8, 2008
* Hot Property Picks: The Top Tenth
* Leasebacks: Academie de Montpellier, France, Mediterranean Coast, Vendargues
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — Le Penthouse Voltaire
Can a Seller Sell a Cellar He Doesn’t Own?
The True Cost of a "Cave"
By Adrian Leeds
A "cave" is not a cave. A "cave" in the French meaning, is the cellar, normally a storage unit in the bowels of a building used to store additional things, particularly wine. Most cellars in older buildings are approximately three to 5 square meters, have dirt floors and stone or brick walls, peppered with rat poison and smell musty. In Le Marais, the cellars are known to be damp and not a very healthy place to store much of anything.
All that being said, having a cellar with an apartment is an asset and not all apartments come with their own cellars. The apartment that Charlie and Elizabeth M. bought was supposed to have a cellar, or so they were told. The apartment was a special find…a spacious two-room 55 square meter apartment in the 10th arrondissement having been recently completely decorated in beautiful taste with large windows on a lovely courtyard. It was everything they wanted at the right price.
On the day of the signing o
f the "Promesse de Vente" (purchase contract), no one of the two sellers, the two buyers or the two Notaires noticed that there was no cellar listed in the "lots" (parcels). The next day, our Property Consultant in reviewing the document, spotted the error. We were all shocked, particularly the buyers!
Upon a closer look, the overlook of the cellar was easily explained. The building had been recently completely reconstructed by a developer who had submitted architectural designs and documents to the city for approval and recording of the titles of each "lot." The apartment titles had been first to be registered, leaving the cellars for last. The sellers hadn’t owned the apartment long — less than a year — and in actuality, had never taken title of the cellar themselves! This had not prevented them from using it as they had the key, but because the title was not ever registered by the city, it had been overlooked by both the Notaire and the sellers.
A process was begun immediately to transfer the title from the developer to the current sellers, but it would take the proverbial three months — first for the sellers to sign a "Promesse de Vente" then and three months later to sign the "Acte de Vente" in order to take formal possession of the cellar, so it in turn could be sold to the new purchasers! Sound confusing?
If that isn’t bad enough, the cellar consisted of two "lots" which on the plan appeared as two units, but when in reality, there was no wall between them and therefore the two units equaled one cellar, twice as large as the others in the building…a bonus for the ultimate buyers!
The solution, after much negotiation and documentation, was to withhold a small sum of money in escrow to be paid to the sellers upon receipt of the cellar. Meanwhile, the new buyers would have use of it, with little risk that it would not eventually become theirs.
What is a cellar worth? In this case, 3,000€, compared to an apartment worth 430,000€. We picked the figure out of a hat, but in a search for cellars for sale, one on auction this past April sold for exactly that, for two cellars combined in the 8th arrondissement. But beware, cellars are hard to find for purchase — more difficult than parking spaces.
If your apartment has a cave, it’s worth more intrinsically than the small price tag that will accompany it. And when you’re signing the first purchase documents, look closely to make sure that every element of the property you’re purchasing is clearly listed.
Banking On It in France
By Adrian Leeds
I’ve opened lots of bank accounts for myself and for our clients over the years and instead of it getting simpler, it seems to become more difficult.
One client who represents an LLC that owns an SCI (Société Civile Immobilier") has been repeatedly turned down by bank after bank for a simple account to pay the utilities because: "in accordance with our [the bank's] rules the only SCI’s for which we are able to open bank accounts are the one composed by physical persons based in France or abroad."
We’re still working on a solution.
Meanwhile, many of the banks will open a non-resident account as long as you open the account with a certain sum of money. BNP Paribas will open it with 8000€ minimum left in the account. Barclays will open an account with 7500€ that isn’t required to be left there. Non-resident accounts can be opened with proof of residency outside of France in these and most all the others.
If you’ve purchased a property in France, it isn’t usually too difficult to take along your newly signed Promesse de Vente to a branch of almost any bank nearest your new property to ask for a simple checking account with which to pay your utilities. Debit cards (Carte Bleue — not "credit card" as the charges are deducted monthly and no balance can be carried forward) are easily obtainable for a yearly fee and useful to extract cash from an ATM or pay for purchases as you would with a credit card, and the charges are deducted from your French bank account in euros.
It’s best to have a friend who is already a customer of the bank escort you or make the initial appointment for you — as the banks are creating "relationships," not just customers. They are seeking customers that utilize more of their services than just checking (insurance and home loans) and they want to know with whom they are doing business. Make an appointment first by phone or in person, then bring along your passport, proof of residency and your Promesse de Vente if you have one. You DON’T need money to open the account, but you will to actually make use of it.
Here’s a list of banks to help you get started comparing which have the best offerings…and assume that banking in France won’t be anything like what you’ve experienced in a more capitalist culture!…
COMMERCIAL FRENCH BANKS
Banque Nationale de Paris (BNP Paribas)
Crédit Commercial de France (CCF)
Crédit Industriel et Commercial (CIC)
Crédit Municipal de Paris
Special note: BNP Paribas owns Bank of the West, which has an international department in its San Francisco branch. It also offers a Euro account in the U.S., available when you open a dollar account!!! Contact Pierre Videau at email@example.com to open an account.
The Tenth is the Top
Discovering the Tenth District of Paris
The 10th arrondissement of Paris centers on the Canal St. Martin and the restaurants and cafés which line its banks. Part sleepy faubourg — as suburbs were called in 18th-century Paris — and part industrial center, the 10th arrondissement has lately enjoyed the benefits of both the booming nightlife scene in the neighboring 11th, as well as the Parisian cycling and roller-blading boom. The streets lining the canal become car-free for the later half of the day each Saturday, and all day on Sundays for your cycling and strolling pleasure.
There is another, more bustling side to the cosmopolitan 10th, however, as the location of two primary entry / exit points for the city, in the form of the two great train stations Gare du Nord and Gare de l’Est.
One final focus to the 10th is the historic Place de la République in the far south of the arrondissement, its many bars, restaurants and cafés.
As it is everywhere in Paris all Métro stations are not equal. Stations such as Place de la République connect to many lines but can be time consuming for a first time visitor. A smaller station such as Goncourt is easier to get in and out of. You may walk a bit more on the street but that’s easy and a lot more fun.
Things to see:
* The Locks on the Canal St. Martin: Quai de Valmy and Quai de Jemmapes; beautiful view under the century old plane-trees, over the canal ordered by Napoléon I in 1802 and completed in 1825. Boat trips from le port de La Bastille.
* The Gare de l’Est, Place du 11 November and Gare du Nord, Rue de Dunkerke, oldest train stations in Paris today (completed in 1844 and 1865).
* The Porte Saint Denis, Boulevard Saint Denis, and Porte Saint Martin, Boulevard Saint Martin, ordered by Louis XIV (completed in 1672 and 1674) to celebrate military victories.
* The Hôpital Saint Louis, Avenue Claude Vellefaux, ordered by Henri IV (completed in 1611), to take care of plague victims…
* Eglise Saint Laurent, church with 13th to 18th-century parts, on the crossing between boulevard Magenta and boulevard de Strasbourg.
Museums and Galleries:
* Musée de l’Eventail, 2 boulevard de Strasbourg, Métro: Strasbourg-St-Denis (lines 4,8,9), Tel 01 42 08 90 20, open Monday-Wednesday 2p.m.-6p.m., admission €5, concessions €3.50 and €2.50 – a museum devoted to decorative fans: over 1000 different fans made by master fan-makers, dating from the 18th to the 20th centuries
* Musée de Cristal de Baccarat, 30 bis rue de Paradis, Métro: Gare de l’Est
* Promenade Canal St. Martin: you want to have a walk along the water, watch a boat go through the locks, have a coffee on the side and find a table in the sun…
* Artazart, 83 quai de Valmy, Métro Jacques Bonsergent, +33 1 40 40 24 00, firstname.lastname@example.org; bookshop, specialized in design and graphic design; lots of imports; open 7/7 10h30 à 19h30, sat. and sun.14h-20h.
* Get an African hairdo or haircut on Boulevard de Strasbourg: they’re all there, the black/African hairdressers in Paris, where you can get any shape and taste for your hair : dreadlocks, pearly braids -have your nails done too!
* Hairdressers gear: they’ve been there for ever, shops that sell the real professional material for hairdressers, Boulevard de Strasbourg and Passage de l’Industrie.
* Have a look at the Indian shops in le Passage Brady.
* Baxo, 21 rue Juliette Dodu (near le canal Saint Martin), ? +33 1 42 02 99 71, . A lounge bar restaurant with a bobo environment and rich dishes.
* Julien, 16 rue du Faubourg-St Denis, Métro: Strasbourg-St Denis, Tel +33 1 47 70 12 06, open daily noon-3 p.m., 7 p.m.-1.30 a.m.. The original 1890 decor of this Parisian dining classic is a mix of Cuban mahogany and Art Nouveau paintings and fixtures – an atmospheric treat. The cuisine is mostly south-western French: lots of foie gras and the
speciality, cassoulet d’oi
e (goose in white beans). Lunch €21, prix fixe €30, average plate €40, all cards taken.
* Mukura, 79 quai de Valmy, Métro: Château Landon – this tiny Colombian restaurant calls itself a "Salon du chocolat, café, thé and fruits latino". In fact they serve a variety of fine plates for lunch or dinner, and the really cool thing is that it’s one of the few truly non-smoking dining rooms around. Make sure to try their Lulo juice as well as their fruit salads. Lulo is a fruit native to Colombia.
* La Vigne Saint Laurent ,2 rue Saint Laurent, Métro : Gare de l’Est, Tel +33 1 42 05 98 20, open daily lunch/dinner. Tiny wine bar, good choice of classic country food (beautiful ‘charcuterie’) and good choice of not too expensive wines –a bistro local people use a lot.
* Restaurant La Strasbourgeoise , 5 rue du 8 Mai 1945, Métro Garde de l’Est, +33 1 42 05 20 02; one of the good "choucroutes" in Paris, in a nice décor –try it.
* Lots of "Indian" Restaurants (actually very often owned by Pakistanis)
1. in Rue du faubourg Saint Denis, between Rue du Château d’Eau and Rue de la Fidélité (Métro: Château d’Eau): cheap dishes, vegetarian food, Tandoori food (typically 5 €)
2. (slightly more upscale) in Passage Brady (between Boulevard de Strasbourg and Rue du faubourg Saint Denis) for example Shalimar is a good choice,
3. in the same Rue du faubourg Saint Denis but higher up, between Gare du Nord and Boulevard de la Chapelle (Métro Gare du Nord or La Chapelle) —especially Tamil food and Pondicherry specialties; also clothes and hardware shops.
* Baxo, 21 rue Juliette Dodu (near le canal Saint Martin), ? +33 1 42 02 99 71, . A new romantic lounge bar with a very nice patio.
* Le Verre Volé, 67 r Lancry,+33 1 48 03 17 34; near le canal Saint Martin, a part wine bar-part wine shop, an excellent address for nice, simple food and wines -and you can take home a bottle you’ve sampled during meal if you wish!
FREE FPI CONFERENCE CALL!!
Sunday, January 6th, 2008
Beating the Decline of the American Dollar
With Mary Fort, Banque Patrimoine et Immobilier
As an FPI subscriber, we offer you special access to our time and knowledge with our own conference calls. The next scheduled conference call is Sunday, January 6th at 8 p.m. Paris time, 2 p.m. Eastern time. Mark your calendars now, but don’t worry, we’ll give you plenty of advance notice.
We will be discussing how to beat the decline of the American dollar by using the newest and most innovative loan products on the market today. All FPI subscribers are invited to participate.
Conference Date: Sunday, January 6th, 2007
Conference Time: 2 p.m. EST, 8 p.m. Paris time
Please RSVP to this special event and we will send you the call details. Sign up now by emailing: email@example.com
The "Fractional Ownership" Solution
An Update by Adrian Leeds
Fractional ownership is a hybrid of direct ownership and time sharing, combining the best elements of both. The primary differences are that while timeshares involve many thousands of 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 and for which there are very few, if any, resort amenities which must be managed and maintained (and paid for!). For Paris Home Shares, the city of Paris is it’s own resort! Visit our properties at http://www.adrianleeds.com/frenchproperty/consultation/sales/fractional/index.html
See the Paris Home Shares Fractional Ownership Offerings:
LE JARDIN SAINT-PAUL
Those who have purchased shares in Le Jardin Saint-Paul on Rue Ferdinand Duval, 4th Arrondissement, Le Marais, will be happy to know the renovation is complete! To see a virtual visit of the apartment, click here: http://www.digitalive.fr/paris/tour.html
To those who have not yet purchased and are interested in learning more, the price of one share is now 92,000€. Only three shares remain for sale. They won’t last long.
To visit the site describing the property, visit
NEW FRACTIONAL OWNERSHIP FOR SALE NEAR EIFFEL TOWER
Chez La Tour
Boulevard de Latour-Maubourg, 7th Arrondissement, Eiffel Tower
Two-Bedroom, 88.1 m2
99,500€ / 12 Shares Available
Available for Use May 2008
If you would like to receive more information on this apartment, VISIT http://www.adrianleeds.com
French Property Market Strong in 2008
The French housing market will offer continued investment opportunities for savvy buyers in 2008, according to French estate agents Leggett Immobilier.
According to the organization, buyers should concentrate their search on the centre of French towns and villages where the best bargains are to be found.
In these locations smaller properties without gardens can be obtained for as little as €25,000 (£18,000) with prices rising to around €100,000– €150,000 (£72,000 – £107,000) for maison de maitres properties.
"Once renovated, you may have to sit on your property for a little longer in order for the rest of the market to catch up with you, but town houses offer excellent, spacious accommodation and can still provide the quieter, relaxed lifestyle people are looking for at half the price of a comparable property down a quiet lane in the countryside," said Trevor Leggett, executive director of Leggett Immobilier.
The nature of the market is also changing, according to the estate agent.
An increasing number of investors are now looking for permanent homes as opposed to holiday properties, with around 75 per cent of buyers now looking to move to France on a long-term basis, according to Leggett Immobilier.
"Buyers are getting younger too — while ten years ago buyers were all retirees, now our average client is aged between 40 – 50 years with a family, moving out, looking to work and wanting to integrate fully with French life," continued Mr. Leggett.
These changes have also bought new locations into the spotlight, as buyers look for property in which to start a new life.
However, integration can prove challenging.
"People who have bought in remote locations or on the edge of hamlets may think they can integrate at their own pace, but in reality living in a village or town obliges you to integrate and use your French," continued Mr. Leggett.
"People are realizing it can pay to live in the middle of a charming French town with plenty of amenities and neighbors to help with integration."
Why its Nice Around Nice
With all the attention paid to Paris and the north of France following the advent of the new Eurostar, other parts of the country may suffer from a lack of attention. But such a situation should not deter property investors from looking at what places such as the south of France still have to offer, according to property consultants Cluttons France.
Director Olivier Morvan said that when it came to buy-to-let, there were few regional differences, stating: "There’s not too much divide [between the north and south of France]; the rental return is very good."
When it came to the south, he suggested, the best places to go were in Nice, or nearby towns such as Antibes: "Antibes because it has the boating and yachting industry and Cannes because of the congresses."
These were not the only possibilities Mr. Morvan suggested. There were locations with plenty of students, for instance. Moreover, he noted: "If you want pure rental return you would make use of the good tax advantages by the French government on buy-to-let schemes."
The French laws on property and renting, either existing or in the pipeline, are another of the reasons the south can do as well as any part of France, since these are favorable irrespective of region.
Of course, another is the popular appeal of the area. The yachting in Antibes and the "congresses" of Cannes – such as the famous film festival – are but two. The Côte d’Azur offers the Mediterranean climate, with all the appeal of sun, sand and sea that comes with it, Monaco is close by with its casinos and grand prix for motor sport fans, while inland are some of the most famous winelands in the world.
Above all, there is the simple fact that France is attractive not just for property buyers, but also for holidaymakers from the UK, thus creating a major rental holiday market. In the former case, a recent piece of research by Datamonitor for Overseas Property Professional magazine showed that nearly four million people from Britain and Ireland owned property abroad, with France second only to Spain.
In the latter instance, the numbers are also high and rising, with the Office for National Statistics revealing that the number of overseas trips by Britons in 2005 was a record 66.4 million. Of these, 11.1 million went to France, a figure which represents considerable potential for anybody involved in the tourist accommodation center, including buy-to-let landlords. While the north may be increasingly attracting consumers who can tunnel all the way to London, the appeal of the south means plenty of others – not least those who want to enjoy wine and beaches – will head across the Channel for different reasons.
Tunnel Vision to put "London Suburbs" in France
The recent news of the faster Eurostar has raised the prospect of more and more people enjoying a sufficiently rapid journey between London and Paris to start living in one country and commuting to the other. Although the new high-speed trains leaving the gleaming, refurbished St. Pancras terminal may add only 20 minutes, that is, it would appear, enough to make a difference.
Property Consultancy Cluttons France certainly holds this view. Director Olivier Morvan said that parts of northern France which were connected to Eurostar would be better for getting to London that places in the south-east of England that were not. "You might as well be living in France where it’s a bit cheaper," he concluded.
Indeed, Mr. Morvan continued, this is likely to happen: "The London suburbs will grow over the channel for definite. It will make sense for some people to commute to London from northern France. "He added that the possibilities of remote working could enable people to channel-hop every couple of days.
While the north of France will benefit from Eurostar, this is not yet the case for the south, Mr. Morvan suggests. He noted that: "Eurostar will not affect southern France yet – the French Riviera as such – because you can’t go in a straight line from the north down to the Riviera." Such a scenario might echo concerns of those in northern England that the economic benefits of the Channel Tunnel are concentrated between the two capitals and their hinterlands.
Of course, there are regional variations attached to other aspects of French property, a point made by Obelisk Research. The firm told the Homes Worldwide website that properties in Paris, where prices are high, could be renovated and sold quickly at a profit, whereas those elsewhere were lower but expected to rise, meaning investors thinking of selling should hold on for longer to get a better price.
This tailored approach, depending on the situation of each region, might, by analogy, be compared with catching a slow train or a quick train – the difference, for example, between trundling into London from the Home Counties or hurtling in from under the sea and beyond. But with new research by Datamonitor showing that France is already among the most popular destinations for UK overseas buyers, there can be no doubt that there are plenty of people looking to climb on board the French property train, whether or not it gets there 20 minutes sooner.
Living and Investing in France Real Estate Conference!
February 16-17, 2008
Alliance Française, Miami, Florida
If you’ve always dreamed of owning your own "pied-à-terre" in Paris or home in the Provinces of France, perhaps as a future retirement home or for now as investment property rented part of the year…this power-packed two-day conference is a MUST.
Hosted by Adrian Leeds, long time resident of Paris, Editor of the Parler Paris Nouvellettre® and French Property Insider weekly E-zine and John Howell, lead attorney for the International Law Partnership, London, these two days in Miami will point you in the right direction to make it really happen! Includes three course lunch and cocktail reception.
For more information and to register, visit: http://www.adrianleeds.com/frenchproperty/conference/LIF_Miami_AF_Feb_2008/index.html
Or email Schuyler Hoffman at firstname.lastname@example.org
Property Consultation, Search and Relocation Solutions
Let French Property Insider expert property consultants find your dream home in France for you. We consult with you to help you make the best decisions, ferret out the finest properties to meet your criteria, schedule the visits and accompany you, negotiate with the agencies and owners, recommend the Notaires and other professionals, schedule the signings and oversee the purchase with you from start to finish! You could never do it so easily on your own. Let us take the time and effort off your hands.
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Moving to Paris? Our experienced relocation expert will make your move easy and hassle-free. We offer complete property and relocation services normally only provided by employer hired relocation firms…but at a price much more affordable for individuals.
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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 January 8, 2008, and every second Tuesday of the month.
HOT PROPERTY PICKS: The Top Tenth
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, 10th Arrondissement, 4 rooms, approx. 76m²
Beautiful Haussmannian building on the second floor. Entrance, living room, American-style kitchen, 2 bedrooms, bathroom, separate toilet, balcony, cave. Features wood floors, moldings, fireplace. Bright and quiet.
Asking Price: 495,000€ + 2.5% Finder’s Fee
*** Paris, 10th Arrondissement, 3/4 rooms, approx. 70m²
Two steps from Canal Saint-Martin, near stores and transportation. This apartment has been completely renovated. Includes entry, large living-room with fireplace and balcony facing south, dining room, fully-equipped kitchen, bedroom on the courtyard, bathroom with toilet, cave, lots of light.
Asking Price: 500,000€ + 2.5% Finder’s Fee
*** Paris, 10th Arrondissement, 3 rooms, approx. 71m²
This superb loft on a garden includes an entrance, large living room with an open, fully-equipped kitchen, bedroom with walk-in closet, bathroom, separate toilet, laundry. In excellent condition. This exclusive apartment must be seen.
Asking Price: 520,000€ + 2.5% Finder’s Fee
LEASEBACK NEWS FROM IMOINVEST
ACADEMIE DE MONTPELLIER
France, Mediterranean Coast, Vendargues
Studio 19m² to 21m² €70,600 to €70,600
Two Bedrooms 37m² to 60m² €115,100 to €115,100
Guaranteed Buy to Let – Leaseback
GUARANTEED RENTAL INCOME UP TO: 4.60%
Proudly presenting the most exciting Leaseback opportunity this year: developer advanced VAT, double guarantee via com
mercial lease and insured ren
tal income and location, location, location! Located 15 km from Montpellier in Vendargues in the south of France, discover this new build student/business residence. Montpellier is the capital of the Languedoc-Roussillon region, as well as the administrative capital of Herault, one of the most well-known and successful of French departments located in this region. As of February 2004 estimates, the population of the city of Montpellier reached 244,700 inhabitants, meaning a 1.7% population growth per year between 1999 and 2004. The estimated population of the metropolitan area is 531,000 inhabitants in 2007. This is a very rare opportunity to invest in a new build property so close to Montpellier.
There are a myriad of reasons to invest in Montpellier and its surroundings:
* The Herault department (where Montpellier is) is the second most dynamic department of France
* Montpellier is the 3rd main city in terms of population in the Mediterranean cost (after Nice and Marseille)
* 400,000 people live there — 1000 people settle down in Montpellier every month
* The forecast in terms of population for Montpellier and its surrounding areas is 600,000 inhabitants for 2015
* The employment rate increased considerably since the beginning of the 90’s
* 32,000 Companies have set up their headquarters in Montpellier
* There are 60,000 students in the 3 main universities of Montpellier
* The TGV brings you to Paris in less than 4 hours and to Marseille in less than 1 hour and 30 minutes
* International airport with more than 60 destinations + 14 flights per day to go to Paris
* Tramway lines (a new one is under construction), plus excellent bus routes in the city center
* Two thirds of the inhabitants are renters
An established management company specializing in student/business residences will back this project and reinforce the security of your investment. The management company will contractually guarantee rental payment through a legally binding commercial lease. In addition to this secure and very sound guarantee, owners may take comfort in knowing that their investment is insured as well. On top of the lease, one of the world’s largest insurance groups will guarantee rental income over the initial nine year (renewable) period of the commercial lease contract.
Realistic pricing for the area and hassle free maintenance make for an appealing investment venture. With up to 4.6% guaranteed rental income and an immediate 19.6% tax break, this investment cannot be missed. France is one of the strongest outlets for foreign direct investment and among the world’s top investment destinations – the perfect reason to choose Leaseback. Please take advantage of this exclusive preview and reserve prime units in advance.
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.
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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 promotio
ot; 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
To access password protected pages: click on any of the links on the left panel of the home page of FrenchPropertyInsider.com under "Subscriber’s Only," then type in your personal username and password.
Past issues of FPI are available on the website. You will find the
"Past Issues" link on the left under "Subscribers Only" or by going to
To receive your free French Leaseback Report or the Paris Property
Report, click on
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.
Le Penthouse Voltaire
American comfort with French flair! Overlooking Boulevards Richard Lenoir and Voltaire, in the 11th Arrondissement. This three-bedroom, two-bath luxury penthouse with wrap-around balconies and spectacular views, sleeps 6.
Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/voltaire.html
or email: Apartments@AdrianLeeds.com
SUBSCRIBE TO PARLER PARIS
If you’re not a regular reader of the Parler Paris daily e-letter, and would like to be, simply enter your e-mail address here (it’s free!): http://www.adrianleeds.com/parlerparis
Copyright 2010, Adrian Leeds®
Adrian Leeds Group, LLC, http://www.adrianleeds.com