French Property Insider Volume XVII, Issue 23 Thursday, June 6, 2019 • Paris, France
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For Sale: One-Bedroom Apartment on Avenue Gambetta, Nice
Just at the corner of avenue Victor Hugo and avenue Gambetta in Nice, where the new East-West Tramway will have a station, in a beautiful Art Deco building, is this superb 52.57 m2 two-room one-bedroom apartment with a west-facing balcony in perfect condition, fully renovated with high-quality amenities. It is composed of an entrance hall with an independent toilet, living room, fully equipped kitchen, and a large bedroom with bathroom.
Today marks the 75th anniversary of D-Day, when the allied forces landed on the Normandy beaches in 1944 in what was called "Operation Overlord" during World War II. Codenamed "Operation Neptune," but referred to as "D-Day," it was the largest seaborne invasion in history. German-Occupied France was liberated from Nazi control, many thousands of lives were lost, but it was the beginning of the end of World War II, never to be forgotten.
The Normandy beaches on which the allies landed were: Utah Beach, Omaha Beach, Gold Beach, Juno Beach and Sword Beach. Some of the most amazing photos taken that day were by Robert Capa, which you can see by visiting: magnumphotos.com/.
Normandy, a word meaning "North Man," is the most northwestern region of France and is divided into five departments: Calvados, Eure, Manche, Orne, and Seine-Maritime. Not only does it make up about 5 percent of France's geographic territory, but it's comprised of about 5 percent of France's population, too. Originally settled by Danish and Norwegian Vikings from the 9th-century, it was later linked with England as a result of the Normand conquest in 1066.Americans are linked to Normandy via D-day and the American Cemetery, located in Colleville-sur-Mer, on the site of the temporary American St. Laurent Cemetery. It was established by the U.S. First Army on June 8, 1944, just two days after D-day, as the first American cemetery on European soil in World War II. It contains the graves of more than 9,380 of those who lost their lives in the D-Day landings and ensuing operations. If you have never visited it, then make it a point to do this the next time you're in France — it's well worth it.
Normandy real estate has fortunately fully recovered from that very special turning point in the war, when so much blood was shed on its shores. Today the real estate market is dynamic for both houses and apartments, with a supply that is shrinking thanks to low interest rates and high demand.
As of 2018, in the Basse-Normandie region, the median price of a house is €1,666/m2, almost identical to previous years, with only a slight increase of +3,6% compared to last year. For the sale of a house of 80 m² to 120 m², there is a median price per square meter of €1,910 in Calvados compared to €1,237 in the Orne. These areas remain stable: +0.4% in Calvados, +0.9% in the Orne and +1.7% in the Channel.
Significant variations are evident in other parts of Normandy, especially in Deauville, where prices increased by +12.8% to reach €3,609/m² while in Cabourg the median price per square meter of a house is €2,672, down by -7.8%.
In Calvados, prices have risen sharply, especially the median price of apartments with an increase of +10.6%. This increase is explained by a decrease in apartment stock. Compared with the neighboring departments, the price of real estate per square meter of apartments for sale is strongly linked to the attractiveness of cities such as Caen. In the Orne, the median price is up +7.3% but remains below €1,200/m².
In real terms, these prices are about one-forth to one-tenth of Paris real estate prices, making living in Normandy, very, very affordable, as well as seriously pleasant!
Just published by Eyrolles Editions, and produced by the Notaries of Greater Paris and the Chambre des Notaires de Paris, their new book, "THE 40 KEYS OF REAL ESTATE" teaches us how to buy at the right price...and safely.
When you decide to either buy or sell a home in France, it's not always so easy to identify the criteria to be taken into account to avoid making costly mistakes. Between fluctuating prices, the entry costs of purchasing, the limited resources for buyers, the practicality of buying a new-build vs the appealing charm of old properties and the difficulty of finding the "home of your dreams," the questions are virtually endless...and the answers not always so available or obvious.
Sure, there are lots of books on the subject of buying real estate in France, but finally, the Chambre de Notaire has issued its own new edition offering a response to 40 real estate subjects, while focusing on a few central themes: Does home ownership make you happy?; What are the psychological aspects of the real estate market?; Which home should you buy for your budget?, etc. Written for the buyer, the book is designed to answer the questions you encounter each step of the way during a real estate transaction.
A summary of the book (in French) is easy to download and consult. Click here.
P.S. If you have been thinking of making an investment in French property, take the plunge as prices are still on the rise and will even surely go higher! Contact us for advice and assistance on finding the perfect property and financing for you. Email Contact@AdrianLeeds.com or complete our consultation form. Do it today!
June's Après-Midi - NEXT TUESDAY!
June 11, 2019
John Pearce, Author
ohn Pearce is a part-time Parisian but lives most of the the year in Sarasota, FL. He worked as a journalist in Washington and Europe, where he covered economics for the International Herald Tribune and edited a business magazine. After a business career in Sarasota, he spends his days working on his future books. For several months each year, he and his wife Jan live in Paris, walk its streets, and chase down interesting settings for future books and his blog, JohnPearceAuthor.com. They lived earlier in Frankfurt, Germany, which gave him valuable insights for several of the scenes in his books in Paris.
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