At the Height of Prime Paris "Places"
Prime Place des Vosges
(FOR SUBSCRIBERS ONLY)
November 29, 2007
Bonjour French Property Insider Subscriber,
We’re back in Paris after a fun-filled week in the Big Apple with more turkey and dressing than we could stuff down our throats and learning how much New York real estate parallels property in Paris. My daughter and I looked at a lot of apartments on a Sunday afternoon during "Open House" — impossible to do in France when the French are taking their sacred Sunday nor would ever entertain the idea of an "Open House" allowing anyone willing to enter their homes. Visiting property here is reserved for weekdays up until about 6 p.m. and only sometimes on a Saturday morning. So, if you’re planning on looking for property in Paris, plan accordingly.
I made an offer on an apartment in New York, but it’s subsequent to all sorts of rules imposed by the board of the co-op that luckily, we don’t have in France! I am finding purchasing property in Manhattan way more difficult than Paris, if not a whole lot more expensive!
Meanwhile, a most fortunate thing has happened thanks to my Paris real estate which has continued to climb in value, particularly in dollar value now that the dollar is weak. The increased value now enables me to take an equity release in euros in order to purchase the property in New York! By doing so, it means that more cash can be put toward the New York property (from the French lender) and with a small U.S. mortgage to top it up, the property can be purchased with virtually no cash outlay. Interest rates in France are lower than in the U.S. by about 1.0 to 1.5 points, therefore there will be savings on the mortgage and then if and when the dollar increases in strength, the mortgage will cost less. An appraiser came just this morning to look at the Provençal rental which should appraise well because of its history of high occupancy and the Viager terrace apartment because it was purchased at such a reasonable price compared to the current market values.
If you recall the article from Al Stewart (http://adrianleeds.com/frenchproperty/insider) about the mezzanine in his apartment which he does not actually own, then you won’t be surprised to learn that I am faced with the same problem. During the visit to the Viager terrace apartment with the appraiser this morning, I discovered that I don’t own the mezzanine, either! It’s owned by the homeowners association and someone on the floor above could easily buy it out from under me. So, plans are already in the works to make an offer to the association at the next "assemblée" (meeting) to purchase it and deed it over to me. Never a dull moment in Paris real estate!
Today’s issue is packed with valuable information and stories…centered on Paris with a New York slant, and all that’s happening in the City of Light to make property here go up and up in value.
Hot Properties focuses on the famous "places" ("plaas") around Paris which are the most desirable and expensive pieces of property to own in honor of a client of ours who is purchasing an apartment in the Place des Vosges, the city’s number one best address. Thanks goes to Property Search Consultant Elizabeth Hochman for scooping out this most sought after piece of Paris anyone can own.
Editor, French Property Insider
Email: [email protected]
P.S. We are very pleased to announce the next Living and Investing in France Real Estate Conference February 16-17, 2008 at the new Alliance Française in Miami, Florida. Visit the site at http://www.adrianleeds.com/frenchproperty/conference/LIF_Miami_AF_Feb_2008/index.html or for more information, email Schuyler Hoffman at [email protected]
Volume V, Issue 46, November 29, 2007
In this issue:
* Property Shopping in the Big Apple
* The Price of Air
* Positive Paris Progress
* The Best — and Most Pricey — "Places" in Paris
* 2008 Tax Reductions in France
* Insuring Your French Property Dream
* Foreign Investors in France
* High-Rises in Paris?
* Fractional Properties Gaining Popularity
* Loft Life in Manhattan
* Depp Purchases Paradis Vineyard
* Own a Piece of Pa
ris for a Fraction of the
* 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: December 11, 2007
* Hot Property Picks: Prime Paris Places
* On the Auction Block: December 4, 2007 at 2 p.m.
* Leasebacks: Residence le Buet, France, French Alps, Morillon
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — Le Penthouse Voltaire
Pretty Properties and Valuable Views
An Excerpt from Parler Paris
By Adrian Leeds
Monday, November 26, 2007
Re-entry is a culture shock. One minute I’m ogling the Christmas windows at Macy’s at Herald Square and strolling up Fifth Avenue and the next minute (or so it seems), I’m winding my way through the hoards of shoppers at the annual Christmas "Brocante" (rummage sale) on rue de Bretagne. A holiday in New York City almost seems like a dream, except for the photos as proof of the week-long event-filled stay.
As for most of you Americans who celebrated Turkey Day, an extended family of friends of my daughter’s cooked up a 20-pound organic bird along with enough stuffing, sweet potatoes, fresh-made cranberry sauce, vegetables, pumpkin pie and another dozen or so dishes to sink a battleship and our bloated bellies. It was an all-day affair from the 37th floor overlooking Central Park. Sadly, we arrived too late to see the Macy’s Thanksgiving Day Parade from the windows. Our loss — as it was an unseasonable stunningly warm sunny day in Manhattan — perfect weather for the massive helium balloon characters.
Yes, we did make an offer on an apartment in the West Village, but it’s doubtful we’ll be chosen as the prime buyers with other offers on the table that require no Co-op Board approval nor financing. It was inside information that the apartment was for sale thanks to a friend who lives in the building, a few weeks before it will be listed with an agent, if it ever gets that far in the process. Property in this Manhattan district is as hot as a pied-à-terre in Le Marais, so anything worth buying is being fought over.
It’s a converted studio/one-bedroom on the 14th floor of a relatively modern brick doorman building with not a drop of renovation to do and a ‘million dollar view’ of lower Manhattan, which at one time included the Twin Towers of the World Trade Center. Prices in the West Village are comparable to Le Marais, at about $1000 per square foot compared to about 9000€ per square meter, not taking the rate of exchange into account. (1 square foot = 0.09290304 square meters.)
In France, when a potential buyer offers asking price, the seller is MORALLY obligated to accept the offer. Not so in the land of free enterprise. Bidding wars are common. If you’re the seller, you win. If you’re the buyer, there are no rules and are more likely to lose.
We have a client at this very moment that made an offer of asking price on an apartment in the historic and magnificent Place des Vosges at the very same moment that another potential buyer did the same. The battle between the agents and the two prospective buyers ensued. "Which had viewed the apartment first?" we queried. It was touch and go, but last word was that our client had won the ‘Mexican Standoff.’
Over dinner Friday night with an old friend from Los Angeles who frequents Paris and now lives on the 31st floor with expansive views of Times Square and midtown, we learned about "Air Rights." Foreign in concept to France, the scheme was developed in the 1980s to transfer the air rights of one building to another as an alternative for investors to replace "undersized" buildings with taller, larger capacity and more profitable buildings. The idea is to transfer unbuilt volume to an adjacent plot of land, enabling the construction of a taller building. Trump Tower used the air rights of the nearby Tiffany & Co.
Air rights are fetching up to 80% of land values these days! The value of air rights is measured on behalf of the seller by the use of comparable sales, but also by how much extra value is generated by the air rights. Air rights allow developers to build taller by buying the space over low-scale buildings and transferring it, at least on paper, if not in reality, to spaces over adjacent buildings. Although such transfers do occur in other cities, the prices do not run as high as they do in Manhattan, which often provides developers with one option: up.
Just last week, the debate over building heights in Paris was re-ignited when Mayor of Paris Bertrand Delanöe presented plans for several skyscrapers (within the city limits and within sight of the city’s center), breaching a bylaw he himself introduced last year setting a maximum inner-city height limit of 37 meters. Parisians traumatized by ‘ugly’ Tour Montparnasse are averse to the same mistake being made, but M. Delanoë argues that the "architectural ambition is clearly not all about height, but to forbid it is to bridle creativity I want us to be able to make exceptions [to the 37 meter rule] on precise sites," as he told Le Figaro. And President Nicolas Sarkozy said, in a congress of mayors on Tuesday, that "There shouldn’t be any if they’re ugly. If they’re beautiful there should. It’s not an ideological question."
Letter from a Reader
Regarding Air Rights in Manhattan
By Michael Perlman PhD, Senior Partner
ACE International Domaine
Contrary to your mentioning that air rights were born in the 1980′s, t
hey actually were t
he creation of the great NYC developer William Zeckendorf who conceived of it first and used it as a key ingredient in putting together all the pieces that eventually became the Museum of Modern Art. And so was born the valuing of air and the trading of air rights. In fact the most recent rehab of the MOMA couldn’t have been accomplished were it not for Zeckendorf’s model: the land had a value, the building on the land had a value and the air above and beside it going up at least 40 stories had a value.
Adrian’s Footnote: While in New York, I had the pleasure of dining at the new "Modern" restaurant, adjacent to MOMA with a view on the sculpture garden that couldn’t have been possible without the air rights! Thank you, Michael Perlman, for bringing the ends together in full circle.
What’s New in the Capital
Compiled by Adrian Leeds
Paris moves…and moves and moves to a better future:
1. Un Parisien, Un Arbre (One Parisian, One Tree)
With his mandate coming up for renewal next year, Paris mayor Bertrand Delanoë is being especially careful to develop green initiatives in the city. A lot of our buses now run on natural gas rather than petrol, the Vélib bike rental service has been a huge success, and any building work undertaken by the city council has to prove that its method respect the environment.
Un Parisien, Un Arbre (One Parisian, One Tree) is a new venture that tries to incite each person living within the city limits to make a token donation which is used to plant a tree. However, the trees are not planted in Paris (we already have 184,000 in the streets and another 300,000 in the Bois de Boulogne and Bois de Vincennes). The trees will actually be planted in developing countries that have French as their principal language, such as Cameroon, Madagascar and Haiti.
The project will not only help reduce CO2 emissions in these countries, but also protect the existing forests from being exploited. The local people will be taught how to manage a sustainable wood harvest, bringing much needed help to the local economy.
2. Paris Adopts ‘Climate Plan’ to Slash Emissions in the City of Light
Paris adopted a plan aimed at slashing the city’s greenhouse-gas emissions and energy use, as France gears up for a high-profile conference on the environment.
Under the plan adopted by the mayors of Paris’s 20 districts, both left- and right-wing, city authorities pledge to cut the emissions and energy consumption of public buildings and services by 30 percent by 2020. The city hopes to able to slash overall transport emissions by a quarter.
The Socialist mayor of Paris Bertrand Delanoë — who championed green projects including new tramway lines, cycle paths and a cheap mass bike-rental scheme — said the climate plans were a "choice of civilization."
"The environmental emergency is the greatest challenge of this century," he said ahead of the plan’s adoption.
Paris city authorities have already taken steps to reduce their environmental impact, using "clean" vehicles and recycled paper, and ensuring that all new public housing answers to high environmental standards, he said.
Future plans include the creation of eco-neighbourhoods and the signature of an environmental partnership with the foundation of former US president Bill Clinton.
Delanoë’s right-wing rival for municipal elections next year, Francoise de Panafieu, said she backed the plan given the "historic stakes" involved, but criticized it as too little, too late.
French big business, trade unions, government and environmental groups are to come together later this month for a high-profile summit chaired by President Nicolas Sarkozy, billed as the start of a "green revolution."
Last week participants unveiled a raft of measures to be put to a public debate this month and finalized at the summit.
They include green taxes on gas-guzzling cars, lower speed limits, eco-labels on supermarket food, a cutback in pesticide use and new rules on energy efficiency in the construction industry.
3. Wi-Fi for All
Paris Wi-Fi, set up by the City Hall of Paris and the Ile-de-France, makes it possible to you to connect you free to the Internet high speed wirelessly, via 400 terminals distributed in more than 260 municipal places: gardens, town halls, libraries or museums of the city of Paris.
Benefit as of now from free Wi-Fi for all! Visit http://www.paris.fr/portail/Economie/Portal.lut?page_id=7799 for more information and a list of Hot Spots.
The Best Addresses Start with "Place"
By Wikipedia, The Free Encyclopedia
The three best addresses in Paris are on three of the prettiest
Place des Vosges
face="Verdana">The Place des Vosges is the oldest square in Paris. It is located in le Marais, and is part of the 3rd and 4th arrondissements of Paris.
Originally known as the Place Royale, the Place des Vosges was built by Henri IV from 1605 to 1612. A true square (140 m x 140 m), it embodied the first European program of royal city planning. It was built on the site of the Hôtel des Tournelles and its gardens: at a tournament at the Tournelles, a royal residence, Henri II was wounded and died. Catherine de Medicis had the Gothic pile demolished, and she removed to the Louvre.
The Place des Vosges, inaugurated in 1612 with a grand carrousel to celebrate the wedding of Louis XIII and Anne of Austria, is the prototype of all the residential squares of European cities that were to come. What was new about the Place Royale in 1612 was that the house fronts were all built to the same design, probably by Baptiste du Cerceau, of red brick with strips of stone quoins over vaulted arcades that stand on square pillars. The steeply-pitched blue slate roofs are pierced with discreet small-paned dormers above the pedimented dormers that stand upon the cornices. Only the north range was built with the vaulted ceilings that the "galleries" were meant to have. Two pavilions that rise higher than the unified roof line of the square center the north and south faces and offer access to the square through triple arches. Though they are designated the Pavilion of the King and of the Queen, no royal personage has ever lived in the aristocratic square. The Place des Vosges initiated subsequent developments of Paris that created a suitable urban background for the French aristocracy.
Before the square was completed Henri ordered the Place Dauphine to be laid out. Within a mere five-year period the king oversaw an unmatched building scheme for the ravaged medieval city: additions to the Louvre, the Pont Neuf, and the Hôpital Saint Louis as well as the two royal squares.
Cardinal Richelieu had an equestrian bronze of Louis XIII erected in the center (there were no garden plots until 1680). The original was melted down in the Revolution; the present version, begun in 1818 by Louis Dupaty and completed by Jean-Pierre Cortot, replaced it in 1825. The square was renamed in 1799 when the département of the Vosges became the first to pay taxes supporting a campaign of the Revolutionary army. The Restoration returned the old royal name, but the short-lived Second Republic restored the revolutionary one in 1848.
Today the square is planted with a bosquet of mature lindens set in grass and gravel, surrounded by clipped lindens.
Residents of Place des Vosges
* No. 1bis Mme de Sevigné was born here
* No. 6 Victor Hugo from 1832 – 1848, in what was then the Hôtel de Rohan-Guéménée, now a Ville de Paris-managed museum devoted to his memory
* No. 7 Sully, Henri IV’s great minister
* No. 8 poet Théophile Gautier and writer Alphonse Daudet
* No. 9 (Hôtel de Chaulnes) the Academy of Architecture
* No. 11 occupied from 1639-1648 by the courtesan Marion Delorme
* No. 14 (Hôtel de la Rivière). Its ceilings painted by Lebrun are reinstalled in the Musée Carnavalet
* No. 17 former residence of Bossuet
* No. 21 Cardinal Richelieu from 1615 – 1627
The Place Dauphine, laid out in 1609 while Place des Vosges was still a-building and named for Louis XIII as Dauphin, was among the earliest city-planning projects of Henri IV. The space, a rectangle with two canted ends was made over to Achille du Harlay to construct thirty-two houses of regular plan. It is approached through a kind of gateway centred on the "downstream" end, formed by paired pavilions facing the equestrian statue of Henri IV on the far side of the Pont Neuf. They are built of brick with limestone quoins supported on arcaded stone ground floors and capped by steep slate roofs with dormers, very like the contemporaneous facades of Place des Vosges. Few visitors penetrate Place Dauphine that lies behind them, where all the other buildings have been raised in height, given new facades, rebuilt, or replaced with a heightened pastiches of the originals. The former enclosing east side was swept away to open the view to the monumental white marble Second Empire Palais de Justice (built 1857-68), like a glazed colonnade centered on the Place Dauphine, the remains of which now form a kind of forecourt to it.
Place de Fürstenberg
Behind the church Saint Germain lies the place of Fürstenberg, one of most marvellous small places in Paris.
Its paulownias trees which flowers in April, its benches and its central old fashion reverberator, its old shops which border the place and continue in small adjacent streets make it a peaceful and charming small island which is a contrario with the agitation of the boulevard Saint Germain.
One of the sides of the place is built in the style Henri IV: blue (slates), white (circumference of the windows), red (brick walls). This side shelters the court which leads to the Delacroix museum. There the painter had his workshop during the last years of his life.
Less Tax in 2008
By Adrian Leeds
The following tax reduction decisions are to be taken before December 31, 2007:
1. For donations granted to organizations which assist people in difficulty, as to provide meals, care and lodging, the deductible percentage will be raised from 66% to 75%, within the limit of a ceiling of 488 euros.
2. You will be a
ble to take a tax credit o
f 20% of the interest paid on a mortgage on your principal residence to a maximum of 750 euros for an individual and 1,500 euros for a couple. These amounts are doubled for handicapped people and are raised 100 euros per dependant and apply to the first five years of the mortgage dated from the provision of the funds.
3. Renovation work improving the energy conservation in a principal residence will be given a tax credit of 15% to 50%, not to exceed 8,000 euros for an unmarried individual, 16,000 euros for a couple, raised 400 euros per dependant, for expenditures carried out between October 1, 2005 and December 31, 2009.
4. You will profit from a tax cut up to 25% of amounts paid toward the capital of a small business made prior to December 31, 2010 and within the limit of 20,000 euros for a single person and 40,000 euros for a couple.
Other tax measures exist. The Chambre de Notaires recommends speaking to your Notaire for more information.
French Property Insurance
French property insurance is an essential part of buying your dream home in France.
While it may not be high on many people’s list of things to do when buying a property in France, getting insurance is an essential part of the process and one which, if overlooked, could end up costing you more than you thought.
As with property purchases in the UK, French property insurance is an important part of the sales process and before the contract for your property purchase can be completed, your French agent will ask you for proof of insurance.
When selecting your insurance, it’s really important to ensure that you understand the terms and conditions, which can be difficult if you don’t speak the language. For this reason, a lot of UK insurance companies now offer French property insurance policies designed specifically for holiday home owners.
Although it may not seem important at the time, holiday home insurance is essential in making sure that your dreams of a home abroad don’t turn into a nightmare.
We recommend for all your insurance needs:
Advantage Insurance Associates
Home, Car, Professional Insurance: Isabelle Poitrenaud [email protected]
Health Insurance: Sylvie Labastire [email protected]
17 rue de Chateaudun
Tel 01 44 63 53 82
Fax 01 44 63 52 66
The News from UCB – A BNP Paribas Company
The French capital city is attracting a growing number of foreign investors. Today, the nonresident property market in Paris represents 8% of all transactions recorded and continues to increase.
According to a survey undertaken by the “Notaires de Paris Ile de France”, 2,579 transactions (out of a total of 30,173) involved foreign nationals. The market is led by Italians (16.3%), followed by Americans (11.2%) and British investors (10.2%). Together, these three nationalities account for nearly 40% of property purchases made by foreign buyers. Their favorite districts are Notre Dame, Ile de la Cité, Ile Saint Louis, and more generally the 4th followed by the 15th, 18th and 16th arrondissements.
But other nationalities also invest in the Parisian property market: the Dutch are especially drawn to the 1st arrondissement while the Irish prefer the 5th. Paris will undoubtedly offer excellent opportunities in the coming years!
Interest Rate Indexes (on 01/11/2007)
3 month Euribor: 4.64%
12 month Euribor: 4.64%
TEC 10: 4.43%
Exchange Rates (on 22/11/2007)
€1 = £ 0.7207
£1 = €1.3875
€1 = $1.4849
Rented Dwellings Reference Index
(Indice de Référence des Loyers – IRL)
2007 2nd quarter annual variation: 2.76%
High-Rise Paris Comes a Step Nearer
By Henry Samuel for The Telegraph
The Mayor of Paris has reignited debate over high-rise buildings in his largely low-rise city, after unveiling plans for several skyscrapers.
The Bertrand Delanöe vision, presented on Wednesday with drawing by 11 architects, would all breach a bylaw he introduced only last year which sets a maximum inner-city building height of 37 metres.
The new buildings, designed by several international firms, would be in three areas inside Paris’ ring road and within sight of the city’s centre.
Traumatized by the ugliness of la tour Montparnasse – Paris’ only central high-rise building other than the Eiffel tower – Parisians are averse to reaching the skies despite a dearth of social housing….
To read the entire article visit http://www.
In Europe, Fractional Properties Have Room to Grow
By Barbara Frye for The New York Times
Claus Soerensen became a fractional owner of a second home before the term was even coined. Years ago, Mr. Soerensen inherited a share of a vacation house that had once belonged to his great-grandfather. When other heirs sold their shares, he essentially owned the house in common with strangers.
So Mr. Soerensen, who lives in the Jutland region of Denmark, was comfortable with the idea of fractional ownership in 2005, when he and his wife, Karen Margrethe, went looking for another second home in southern France or Italy. They found French Property Shares, based in the United States, and bought a share of a Languedoc farmhouse.
"If you are very rich and you want to be on your own, you can buy all the properties you want," Mr. Soerensen said. "But if you only intend to use the property a few times a year, it feels sound to share the possibilities and the costs"…
To read the entire article, visit http://www.nytimes.com/2007/11/25/greathomesanddestinations/21gh-fractional.html?_r=2&oref=slogin
Property in New York: A Loft in Manhattan
For sheer excitement, little beats living in New York, writes Graham Norwood
This month Lorena and Edward Bianco and baby daughter Sarah will leave their home at Rickmansworth in Hertfordshire to fly to New York for a pre-Christmas spending spree, taking full advantage of historically good exchange rates.
But although they hope to snap up some bargains in the stores on Fifth Avenue, 57th Street and Times Square, they expect to spend most of their time climbing stairs to find the perfect Christmas present for themselves – a classic Manhattan loft apartment.
"We go to New York several times a year to see my wife’s family, and now it’s time to get a second home there," says Edward, an accountant. "After we buy, I’ll go at least three single weeks each year, my wife will stay longer, and we’ll squeeze in weekends when we can. It’ll be a good investment too"…
To read the entire article, visit http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2007/11/17/opnewyork117.xml
Johnny Depp Buys Girlfriend Vineyard Estate in France
Johnny Depp has bought his long-term girlfriend Vanessa Paradis a vineyard, say UK press reports.
According to news channel Sky and UK daily newspaper Metro, the Pirates of the Caribbean actor, 44, bought the French property as a gift to celebrate the release of Paradis’ new album, Divinidylle.
The estate is close to the villa they share in Plan de la Tour, a village in the Massif des Maures hills 15km northwest of St Tropez.
Locals of Plan de la Tour said they were looking forward to the couple’s attendance at the village wine fête.
"I often see them in the village," said M. Teyssier, the fête’s organizer. "Vanessa has been in touch as she would like to participate in next year’s wine fête. She will be a great asset to the event."
However, a spokesperson for the only local wine co-operative, Les Fouleurs de Saint Pons, told decanter.com that the estate bought by Depp did not contain any winemaking facilities.
"It’s not a vineyard, it’s an immense property," she said. "It’s vast so it could have some vines on it but we don’t receive any of their grapes."
Depp is known for his love of French wines, revealing last year that his favourite tipple is Bordeaux third growth Château Calon-Ségur.
Pétrus and Château Cheval-Blanc are also among the actor’s favorites.
"With those wines, you reach nirvana," he told Madame Figaro magazine.
The "Fractional Ownership" Solution…
An Update by Adrian Leeds
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 well underway! If you viewed the photos of the apartment prior to any work don
e on it, you
may recall the arch leading from the living room to the bedrooms, stuccoed over and painted a bright mustard yellow.
The construction crew recreated a 17th-century classic keystone arch of beautiful stone using a "trompe l’oeil" technique! Be sure to see the video of and by Liam Gallegos in his excitement over the newly created arch! Just click here: http://www.youtube.com/watch?v=Y_Y-GuHswLc
To visit the site describing the property, visit
http://www.adrianleeds.com/frenchproperty/consultation/sales/fractional/jardinstpaul.html and to take a video tour of this gorgeous property, visit http://www.parishomeshares.net/jspvideos.html
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/frenchproperty/consultation/sales/fractional/chezlatour.html
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 [email protected]
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.
FPI Offers More Relocation Solutions!
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.
Download Complete Brochure
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: 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 December 11, 2007, and every second Tuesday of the month.
HOT PROPERTY PICKS: Prime Paris Places
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, 1st Arrondissement, 2 rooms, approx. 47m²
Palais Royal. Charming 2 room apartment with a view on the road and courtyard. Entrance, living room, kitchen, bedroom on courtyard, bathroom, toilet, walk-in closet, wood floors.
Asking Price: 440,000€ + 2.5% Finder’s Fee
*** Paris, 2nd Arrondissement, 4 rooms, approx. 80m²
Place des Victoires. In a lovely old hôtel particulier with a view on Paris rooftops, a charming 4 room apartment. Very bright and quiet. Triple exposure with a view on la Place des Victoires. Living room, separate kitchen, 3 bedrooms, bathroom and separate toilet. A must see!
Asking Price: 697,000€ + 2.5% Finder’s Fee
*** Paris, 4th Arrondissement, 5 rooms, approx. 105m²
Place des Vosges. Coup de coeur! 17th-century maison de ville renovated by an architect last year. High ceilings with beams. Bright and quiet. Living room, large kitchen 2 bedrooms, 2 bathrooms. Excellent condition. Parking possible.
Asking Price: 890,000€ + 2.5% Finder’s Fee
Next Sessions: December 4, 2007 at 2 p.m.
Notaires de Paris
Place du Châtelet
12 avenue Victoria
Additional information on Les Ventes aux Enchères des Notaires can be found on the Web site at http://www.encheres-Paris.com/ Though the site has a button for an English version, it isn’t reliable to work.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
December 4, 2007 at 2 p.m.
|2 rooms 40,40m²
39 rue Volta
75003 PARIS 3th
Opening Bid: 190,000€
|3/4 rooms 73,98m²|
32 rue Pastourelle
75003 PARIS 3th
Opening Bid: 488,000€
|2 rooms 35,2m² + 8,6m² outside loi carrez
22 avenue d’Eylau
75016 PARIS 16th
Opening Bid: 185,000€
|2 rooms 29,30m²
28 rue de Ponthieu
75008 PARIS 8th
Opening Bid: 120,000€
LEASEBACK NEWS FROM IMOINVEST
RESIDENCE LE BUET
France, French Alps, Morillon
Studio 28m² to 31m² €93,000 to €102,000
One Bedroom 31m² to 34m² €101,000 to €109,000
Two Bedrooms 35m² to 36m² €116,000 to €118,000
Three Bedrooms 57m² to 57m² €190,000 to €190,000
Four Bedrooms or More 56m² to 56m² €186,000 to €186,000
Quasi Hoteliere Holiday Leaseback
IMMEDIATE DISCOUNT UP TO: 15.00%
CASH BACK ON THE SLOPES THIS WINTER
Morillon is a village of great charm and tradition as well as an internationally renowned mountain resort for both summer and winter pursuits. The setting, high up in the French Alps, provides some of the most beautiful and spectacular scenery in the country, whatever the time of year. In the summer there are acres of Alpine meadows to explore and tranquil lakes to enjoy, while in winter the snow-laden slopes around the resort offer some of France’s best skiing. This commune is part of the Haute-Savoie department in south-eastern France nestled within the Morillon Mountains between Morzine (Portes du Soleil), Geneva (Switzerland) and Chamonix Mont Blanc. This small hamlet consists of about 500 year round residences and is also a popular summer and winter vacation destination. It has a Poma télécabine that departs from just outside the village and links up to the “Grand Massif” ski area consisting of 265km of ski runs over the five resorts of Morillon, Samoens, Flaine, Les Carroz, and Sixit. Italy and Switzerland are about 1 hour from Morillon.
Residence Le Buet is an already existing development that is currently serviced by France’s leading management company. There are 13 units for sale within this development. Residence Le Buet is a full leaseback program, and is thus eligible for a VAT refund. This project brings us towards a new innovation in Leaseback property offering clients complete flexible and tailor-made investment solutions. Investors will have the choice between purchasing units under the Cash back Leaseback scheme or the Quasi Hotel Leaseback scheme. These two options truly afford our investors with everything they need to find the perfect fit for their budget, living situation and of course to suit their holiday needs. Residence Le Buet offers an outdoor heated swimming pool and many nearby outdoor activities including rafting, canoeing, air born sports, climbing and backpacking.
Morillon is known for its friendly approach to life and particularly to children. The resort of Les Esserts is a pedestrian zone, and children are welcomed and encouraged to join in the myriad activities prepared for their enjoyment. Whether you are a child or not, you will enjoy the torchlight processions, concerts, carnivals and other festivities which take place throughout the year. The different seasons offer a variety of activities, with winter snow sports and summer nature trails, tennis, and water sports in the crystal waters of the nearby lake, Le Lac Bleu. The resort also affords the unusual opportunity of experiencing mountain trekking with a pack donkey! Eating out is also a pleasure in Morillon, with some excellent restaurants offering superb family meals at very reasonable prices. Property prices in and around Morillon are quite attractive, but a long ski season and spectacular mountain scenery comes at a premium and this is why Leaseback is the perfect solution for the smart investor.
Those of you who have some experience buying property in the French Alps know how frustrating it can be to spend all of your time dealing with plumbing and other problems and just the huge amount of time it takes to administer your holiday property. While the property is a great investment, doubling in value over 5 years time, when it comes down to it, it pays to have a place managed for you, especially in the Alps, with all there is there is to handle. Imagine arriving to your ski lodge and it is already heated up and ready to use. All that is left to do it hit the slopes! Buying leaseback means that everything is taken care of!
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 promotion
code "ED762." This promotion code gives you 10% off your total
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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 mem
orable 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!
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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: [email protected]
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