1) Paris Property Prices 2) Own 50% of a Montmartre Studio 3) Attend an Expat Financial Seminar
French Property Insider Volume XIII, Issue 36 Thursday, September 10, 2015 • Paris, France
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FOR SALE: One-Bedroom Luxury, Cité du Petit Thouars, 3rd Arr.
Haut Marais/République, Square du Temple
Move-in/Rental Ready! Tucked away on an historic and quiet "cul de sac," this 28m2 one-bedroom apartment is an oasis of peace and calm. Located on the second floor with elevator, the apartment has two large bright windows that face a classic Parisian courtyard. With digicode, intercom entry system, it has been completely newly renovated and professionally decorated by Martine di Mattéo to the height of luxury – all furnishings are include in the purchase. The full open kitchen is equipped with a built in oven, a two burner stove top, a refrigerator, washer/dryer. The bathroom with shower can be accessed directly from the living area or bedroom.
To peruse all of our current properties for sale, visit Adrianleeds.com. And if you have a property you wish to sell to our North American/Anglophone market, do not hesitate to contact us at Contact@AdrianLeeds.com
Bonjour French Property Insider Subscriber,
PARIS PROPERTY PRICES 2ND QUARTER 2015
The report for second quarter 2015 for the Ile de France property market is just out this morning, as published by the Chambre de Notaires.
SPECIAL NOTE: Beware of reading the statistics. Prices are ALWAYS lower than true market value because of certain built-in money/tax-saving schemes. If the buyer pays the agency commission rather than the seller, the price is reduced by about 5% saving on the Notarial taxes and fees, therefore reducing the average price of property in the statistics. The price is further reduced by furnishings left in the property and even more so if some of the price is paid in cash (illegal but done).
Sales are up by 20%, prices are down by 3.1% in Paris, falling to an average of €7,880 per square meter, but the prediction is for prices to rise in the coming months to over €8,000.
The 6th district remains ahead of all others as most expensive, but the 7th district took the biggest price hit with a reduction of -7.8%. The 1st and 10th districts were the only to see a price increase, an indication that these are good areas in which to invest. The 18th, 19th and 20th remain the three least expensive districts, but also lost less than the others, another indication of good investment material.
An interesting point for the outer districts is that while normally these areas are not as 'rentable' to tourists as central Paris, the City Hall isn't as concerned about affordable housing in those areas and therefore short-term rentals are not as subject to the city's wrath or denouncement by bourgeois neighbors.
For the time being, it might be more interesting to choose a location in an outer district, but close to an inner district. For example, close to Place de la Bastille, but in the 11th or 12th, rather than the 3rd or 4th; close to Place de la République, but in the 10th or 11th rather than in the 3rd; close to Port Royal, but in the 13th or 14th, rather than the 5th or 6th. The price per square meter will be considerably lower, but the rental returns may be almost as good without the fear of threats from the City or neighbors, and therefore the ROI will be better.
FRACTIONAL OWNERSHIP OPPORTUNITY
There are virtually no fractional ownership shares left on the Paris market, but here's a highly unusual opportunity to own 50% of a studio apartment in the heart of charming Montmartre!
At Métro Abbesses 50% Share of a Studio Apartment on Rue Yvonne le Tac, Paris, 18th Arrondissement
Just steps from the famous Abbesses Métro station which is highly desirable to tourists because of it’s close proximity to Sacré-Coeur and easy access to the heart of the Montmartre quartier and all its amenities, this charming studio apartment is located just up a short flight of stairs on the courtyard of a 19th-century building.
The Abbesses Métro is less than a one-minute walk from the front door of the apartment. From here you can connect to anywhere in Paris and beyond. A few steps further is the 95 bus which stops at Opéra, the Grands Magazins (Printemps, Galleries Lafayette and others). It travels on to Le Louvre, the Quartier Latin, Gare Montparnasse and the famous flea market at Porte de Vanves. Gare du Nord is just a 10-minute walk from the apartment and from there you can hop the high-speed trains to Brussels, Amsterdam and London as well as the RER trains to Charles de Gaulle and Orly Airports!
Here you will find some of the city’s most authentic and desirable cafés, restaurants, boutiques, galleries, wine and cheese merchants. Just tucked-in adjacent to the carousel at the Abbesses Métro station is the Square Jehan Rictus – a tiny park with a 430 square foot mural covered with the words “I love you” (Le Mur des Je t’Aime) in 311 languages…a befitting tribute to l’amour à Paris.
At 21.2 square meters (226 square feet), the apartment is designed brilliantly to house a small separate kitchen, bathroom and toilet. The main room has two large windows with views overlooking the courtyard and the apartment building that faces the street. The exposure is south-facing. The original wood beams are exposed giving it lots of charm and it was decorated by a professional interior designer and was featured in “Country Living” Magazine.
The kitchen is equipped with a small refrigerator and a two-burner stove. The property includes a “cave” and a “débarras” (storage closet) just outside of the entrance in the hall.
About the immediate vicinity…
Montmartre is the last remaining village in Paris. It is the highest point, crowned by the majestic Sacré-Coeur Basilica, which looks grandly out over the entire City of Light. Behind the church and clinging to the hillside below, the narrow, winding cobblestone streets and alleyways seem almost to have survived the relentless march of time. It is easy to understand how this magical setting served as an inspiration to the many famous artists, poets and writers of the past as well as the present.
With a 50% share, you can choose your times of usage with the other owners. There are currently no ‘by-laws’ set in place and therefore you have the privilege of writing them yourselves!
Amenities: • Digicode entry • South Facing • Entry Closet • First Floor Entry • Separate kitchen equipped double sink, cupboards, dishes, cooking utensils, refrigerator, two-burner stove, hood fan • Cellar • Individual electric heat • Linens included • Queen-size bed, parlor table with two chairs, desk and chair, wrought-iron love seat, nesting tables, two mirrors, crystal chandelier, built-in cabinet, side chair • Bathroom with toilet, sink, tub, shower, mirror, hot water tank • Ready for Internet, Phone, TV installation
Price of the share: €128,000 + Notarial taxes and fees (approx. 7%)
AMERICAN EXPAT SEMINAR IN PARIS WITH BRIAN DUNHILL AND SPECIAL GUESTS TANYA UNIACKE AND CAROLE JASKARZEC FROM MONEYCORP
Brian DunhillTanya UniackeCarole Jaskarzec
Sponsored by Dunhill Financial and The Adrian Leeds Group
October 8th, 2015 Doors open at 5:30 p.m.
Planning for your financial future can be complicated, but add the additional complexities of being an expat and the new FATCA regulations, it can be that much harder.
We have new estate tax regulations in Europe, Brussels IV, and this is our platform to properly discuss these changes.
I will host the seminar presented by Brian Dunhill that will go through pertinent subjects for Americans in Paris, followed by the quarterly economic update. There will also be an additional presentation by Tanya Uniacke and Carole Jaskarzec who will discuss “currency conversions” and their firm’s view on the Dollar vs. the Euro in the near future.
October 8th, 2015 Doors open at 5:30 p.m. seminar starts promptly at 6:00 p.m. Le Café de la Mairie, on the corner of rue des Archives and rue de Bretagne, 75003 Paris (Métro Lines 9, 3 and 11, stations Temple, République or Arts et Métiers)
The economic update will start upon the completion of the Financial Forum at around 7:00, please feel free to join for one or both of the presentations. Complementary beverages will be served. Please sign up at: dunhillfinancial.be/events.html
Dunhill Financial, SPRL International Financial Planners
For English-speaking expatriates residing in Europe who need assistance with financial planning, the Adrian Leeds Group recommends Dunhill Financial. To plan for your retirement, save for educational needs or arrange your estate, Brian Dunhill is happy to discuss your options during a telephone consultation or face-to-face meeting.
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