French Property Insider Volume XIV, Issue 22 Thursday, June 2, 2016 • Paris, France
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FOR SALE BY AMERICAN OWNERS: One-Bedroom Perfect Pied-à-Terre on rue Daguerre, 14th Arrondissement, Steps from RER and Métro Denfert-Rochereau
Well-located on one of Paris’ best market streets, steps from the Métro, RER and bus lines, this pristine, updated one-bedroom apartment is move-in ready. The apartment is on the first floor, with elevator, of a well-maintained 19th-century building and has recently been repainted to look fresh and clean. The entry is on rue Daguerre, but the three large windows of the apartment overlook the quiet side street.
The living/dining room with a window comes with a sofabed, armchair, dining table with four chairs, a small desk and television with stand. The door to this room makes it an ideal additional sleeping space for guests. The bedroom is spacious, has a large window and an en-suite bath with shower, sink and vanity. The toilet is separate. Two single beds can be made into one king-size. An antique armoire and a chest of drawers provides ample storage. The bright kitchen with a window is equipped with cabinets, washer/dryer, microwave and two-burner stove.
All furnishings are included in the purchase price along with an 8m2 cellar. Rue Daguerre is home to many shops selling all of the delicacies that France is famous for. In addition, there is a full Monoprix supermarket on the corner. The apartment is ideal as a pied-à-terre for yourself and doubles as a perfect vacation rental. There is nothing to do, but unpack your bags.
• Two-Room, one-bedroom apartment, 34 m2 Loi Carrez • Principal room with sofa, dining table, desk and TV with stand • Kitchen with stove, microwave, sink, washer/dryer • Ample-size bedroom with en-suite bathroom with shower, sink and vanity • Powder room with toilet • Electric heating • Annual homeowners fees €920, annual taxes total €950 per year • Perfect condition – move-in, rental-ready
For more photos and information, contact the listing agent, John Rule at John@adrianleeds.com or phone +33 (0) 6 09 95 12 08.
Bonjour French Property Insider Subscriber,
According to the latest report by the Chambre de Notaires de Paris, the market is buoyant without a price increase in Paris and the Ile-de-France. A slow and gradual price erosion confirmed to both sellers and buyers that waiting was no longer appropriate. The exceptionally attractive level of interest rates has motivated buyers and supported sales. Prices should not increase in the coming months with the business outlook remaining quite favorable.
On the Ile-de-France, sales of existing homes were up 11% from the 1st quarter 2015 to the 1st quarter 2016, with an even more marked improvement for homes (+13%) than for apartments (+10%). With approximately 33,300 sales, the number of existing homes sold in 1st quarter 2016 registered 3% above the average of the last 10 years (32,300 sales), but it still lacks 3,800 sales (9%) in the quarter to achieve the volume of the "high" period of 1999-2007.
In one year, according to statistics, the resale apartments prices increased in the Ile-de-France (€5,250 at the 1st quarter 2015 and 2016). For the market of resale houses, price developments were barely more pronounced (+0.6% in one year, i.e. an average increase of €1,800 per dwelling). Becoming a homeowner now costs more on the average -- €289,000 in the 1st quarter of 2016, compared with €287,200 a year before. In Paris, the per square meter price amounted to €8,000/m² in the 1st quarter of 2016. In one year, prices increased by 1.2% in the Capital.
Based on preliminary contracts, this stagnation will persist, in tune with inflation. In Paris, the price per square meter continues to oscillate around €8,000/m², but it could go up to €8,060 in July (+ 1.2% in one year).
Housing demand remains strong in Ile-de-France, with a an ownership rate of less than 10% nationally. Housing always presents itself as a good investment, while there are currently few other alternative investments which are as attractive or secure. New housing has also benefited by the Pinel regulations which have provided incentives to become owners, however, interest rates are the primary factor in the encouragement of sales.
Paris apartments sold on the average about €8,000/m² with developments expected in the coming months to get closer to the €8,460/m² reached in 2012. According to the leading indicators from the preliminary contracts, apartment prices will rise slightly in July 2016. During the first quarter 2016, the gap between the most expensive district Odeon with €14,120/m2 and the least expensive district of Pont de Flandre with €5,680/m2 is a spread of €8,440! The most expensive neighborhoods are all located in the 6th and 7th arrondissements while more affordable neighborhoods are located in the 18th and 19th arrondissements.
I warn you to take the figures with consideration that they are considerable lower than true market value for a variety of reasons. Remember, the statistics are already out-of-date, are net of agency fees (usually the buyer pays the fees to reduce the closing costs), furnishings values are deducted from the selling price and there is definitely 'cash under the table' (which is illegal, but done). In addition, the figures use a median, rather than average of the quality of the properties in any one given area. As in any case, the comparable properties for sale on the market are the true indicators of price! And of course, it's still based on 'what the market will bear!'
P.S. Countdown: 7 Days Until the French (me) Invade Preston Hollow! Join me, Candy's Dirt and Versailles, Inc. builders who will be welcoming me to Dallas to speak at a special event on June 9 at 9818 Hathaway in Preston Hollow -- an incredible 13,000 square-foot château sitting on over a half-acre -- a home you’ll be talking about for days. The soirée begins at 5:30 p.m. with me taking the 'stage' at 6:30 p.m. Please be sure to RSVP to Jo@candysdirt.com
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