All makes of (new) French cars lying on top of each other like toy cars after an old Parisian parking garage had collapsed. "Paris, Rue Carpeaux, 1956"
Park for Profit
French Property Insider Volume XI, Issue 19 Thursday, May 9, 2013 • Paris, France
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Living and Investing in France Conference -- Nice and the Côte d'Azur
September 27-28-29, 2013 Nice, France
Three Days of Exploring the Côte d'Azur!
If you've always dreamed of spending more time in France, enjoying a "pied-à-terre" of your own in Paris or Nice or home in the countryside that you can enjoy when you want...or profitably rent when you like...or just make a smart investment by owning property in France...then this three day conference and tour of the Côte d'Azur is a MUST. There is no doubt, from the hundreds of others who have attended conferences of this kind and fulfilled their dreams...this weekend in Nice will point you in the right direction to really make it happen!
Our Host Hotel - Hotel Ellington Reserve before May 31 for the preferred rate!
The Hotel Ellington is a boutique hotel situated in a very elegant area in the town center of Nice -- only five minutes from the sea, the shops and the Acropolis conference forum. We have secured a special room rate on a limited number of rooms for a limited time -- book your room before May 31 to receive the preferred conference rate!
(photo by http://eriklarsonbooks.com)Pedestrianized rue de BretagneParking at Disneyland ParisBumper to bumperGarages at le Palace des Vosges
Owning, driving and parking a car in Paris is becoming increasingly more difficult. While most other cities are making way for more traffic, the city of Paris wants to reduce it.
Mayor Bertrand Delanoë made it his policy to pedestrianize Paris and he's been doing that ever since he landed in office -- widening the sidewalks, adding trees and lighting, narrowing the streets, pedestrianizing many (including his new plan to pedestrianize large sections of the expressway along both banks of the Seine) and removing the parking for cars along the city streets.
This was a smart move. I've seen the benefits first hand as I watched rue de Bretagne go from a scruffy little shopping street to the heart of the 3rd arrondissement with a seriously active life at all the cafés and markets, improving the value of our property and our lives.
From my perspective, owning a car in Paris is like having a ball and chain around your ankle, but for many, it's absolutely necessary...to get to work, to transport their business materials and facilitate their daily activities. There is also that snobbish attitude that 'certain level' individuals shouldn't 'be seen' on public transportation contributing to the traffic -- sad, but true. What a shame, when we have one of the best public transportation systems in the world!
Nonetheless, owning a parking space in Paris is pure gold. According to the Chambre de Notaires, a parking spot in Paris can cost as much as 46,000€ on the average in the 4th arrondissement with 25,000€ the average price in the city (figures from the end of 2012).
By district, how do the neighborhoods fair?:
Paris 1st n.s. Paris 2nd 34 500€ Paris 3rd 35,000€ Paris 4th 46,000€ Paris 5th 27,000€ Paris 6th 40,000€ Paris 7th 43,000€ Paris 8th 40,000€ Paris 9th 35,000€ Paris 10th 22,000€ Paris 11th 21,000€ Paris 12th 20,000€ Paris 13th 16,000€ Paris 14th 23,000€ Paris 15th 24,000€ Paris 16th 45,000€ Paris 17th 32,000€ Paris 18th 21,000€ Paris 19th 17,000€ Paris 20th 15,000€
According to French standard “Norme NF P 91-100,” the minimum width of parking spaces ranges from 2.20 to 2.30 meters (7.2–7.5 feet) with the length about double that. This means that a space averages aabout 12.5 square meters, therefore the average cost per square meter is about 20,000€! In Le Marais (4th), count on 36,800€ per precious square meter! With the average per square meter cost of an apartment in Paris of 8,290€ (as of February 2013), this makes parking 2.4 times more expensive than inhabitation!
Meanwhile, parking spaces can be rented -- lucrative for the owner and practical for the operator of the vehicle. In Particulier à Particulier, a great source of "for rent by owner" ads, there isn't a single space advertised in the 4th arrondissement of the 47 in the list! The least expensive is 55€ per month in the 13th, and the most expensive is 290€ in the 11th.
The fractional ownership property "Le Palace des Vosges" rents one garage from the investors that houses storage units for each of the owners, but another one of the garages available to them remains empty. The costs to own and operate the two spaces (valued at 92,000€ if using the city's averages) is about 1,500€ annually when considering the homeowners association fees, annual property taxes and high cost of maintaining a bank account. Fees to an accountant to file annual tax returns are added to this cost. So, while the rents can cover the carrying costs, the real investment value is in the resale of the unit.
This is true for an apartment that comes with a parking space -- it's a real asset should you be so lucky as to find one to purchase or have one to sell!
P.S. Be sure to tune in to House Hunters International on May 16 at 10:30 p.m. and 1:30 a.m. ET/PT for the latest episode, "La Vie en Paris, France"! After transferring to Paris for her dream job five years ago, Abby Gordon was ready to purchase an apartment to call her own. We helped her search for the perfect Paris property market to suit her style and budget.
P.P.S. And I'd be greatly appreciate it if someone can record the new House Hunters International episode and send it to me for viewing immediately!! I have no other way of seeing our shows! Thanks!
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.
Le Beau Marais is a large, luxurious studio apartment located on an historic and quiet "cul de sac," and promises a very tranquil "sejour" in the City of Light. This comfortable dream apartment will amaze you with its well thought-out fit and finish, seen to by our professional Interior Designer, Martine di Matteo