Budgeting for Your Paris Pied-à-terre
Parler Paris Rental Apartment, Le Bonaparte
October 1, 2009
Bonjour French Property Insider Subscriber,
There’s lots to read and absorb today, so take your time working your way through the articles that interest you.
The first one is also the first step toward planning for your property purchase by assessing your financial position and if an investment in property is going to work for you in terms of the ‘numbers.’ There are a few shortcuts to help you see the bottom line faster, but also, be sure to download and work with our Return On Investment Excel spreadsheet we’ve created for you as an important tool to determine the profitability of a rental property.
Today issue of FPI also includes a fun look at why Paris is great for single women and why owning a property here can be a life-changing move…particularly for single women.
On the roster from our sister publications are articles that discuss tax reforms, property prices, market trends as well as a look at the controversial Hôtel Lambert on the Ile Saint-Louis and a house in the Alpes-Maritimes owned by an Alabama native featured in the New York Times Great Homes and Destinations.
Naturally, Hot Properties focuses on Paris pieds-à-terres that fit our perfect description of a good rental property.
Editor, French Property Insider
Email: [email protected]
P.S. Mark October 13th on your calendar to be at "Après Midi" to help celebrate my birthday (the next day) and all the other Libras, plus get to know other Parler Paris readers…visit www.adrianleeds.com/parlerparis/apresmidi.html for details.
P.P.S. If you’re a woman located near Paris, you may want to sign up for the upcoming "Money Matters for Women" Conference on October 17th as I’ll be speaking from 2 to 3 p.m. on "Property Investment in France." Scroll down to learn more or to register, visit http://www.moneymattersforwomen.org.
Volume VII, Issue 40, October 8, 2009
In this issue:
* Number Crunching Your Pied-à-Terre
* Single Women Find New Life Investing in Paris
* Where Should You Live?
* FPI at Half Price – Time Running Out!
* Tax Reforms May Affect Property Owners
* Adrian Leeds to Speak at Women’s Conference
* Life Style: Discovering an Artist’s French Retreat
* FPI Fractional Property Offerings
* Now is the Time to Buy in France
* Moneycorp: Take the Risk Out of Currency Conversion
* A Look at Regional Property Market Trends
* Hôtel Lambert Revisited: Property and Politics
* Free Consultation Offer Ending Soon!
* Parler Paris Apartments: Fall Specials Continue
* A Quick Look at Avignon and Provence
* Hot Property Picks: Perfect Paris Pied-à-Terres
* Property Show in the Fall: Focus on Luxury
* How You Can Obtain a Mortgage in France
* Parler Paris Après-Midi: Next Gathering Oct. 13th
* Managing Your FPI Subscription
* Subscribers Receive Discount on Insider Paris Guides
Budgeting for your property investment in France is the first step toward actually purchasing the property. Without knowing exactly how much you have in cash to invest or how much you can afford to pay toward a monthly mortgage you cannot even begin to look at viable properties. Furthermore, if you intend to purchase a rental property, the revenues it will generate is equally important as it will fund the mortgage, either more or less depending on a variety of factors.
We have found some simple ways of calculating the budget, so that these "short cuts
" can apply to almost any property
to quickly and easily create a financial picture that is close to reality.
The elements of the calculations are these (using estimates in some cases):
Square Meters: Studio 20 to 30, one bedroom 30 to 50, two bedrooms 60 to 80, three bedrooms 90 +
Price of property: 100%
Down payment: 20%
Loan to value: 80%
Closing costs: 10%
Notary fees and taxes: 7.5%
property consultation: 2.5%
Mortgage interest rate: 2.85%
Life insurance: .005%
Arrangement fee: .01%
Term of mortgage: 20 years
Renovation/furnishings: 2,000€/square meter
(of property value): .001%
Homeowners insurance: .066%
Copropriété fees: 25€/square meter
Rental rates: Studio 125€/night, one bedroom 175€/night, two bedrooms 275€/night, three bedrooms 425€/night
Occupancy rate: 65%
Net revenues: 65%
Property Management Fees: 35% of Gross Revenues
Additional Advertising: .01% of Gross Revenues
Now let’s look at the shortcuts — keeping in mind these are very rounded numbers in order to provide a ‘big’ picture. (Later, we’ll look at the details):
If you take a mortgage, then you’ll need 30% of the price of the property in cash.
If you renovate to luxury, then you’ll need 50% of the price of the property in cash (unless you mortgage the renovation expense).
To determine the monthly mortgage payment, an easy way is to use an online calculator such as: http://globecampus.ca/money-finder/financial-calculators/amortizing-loan/.
Multiply that by 12 to get the annual mortgage repayment costs.
Multiply the nightly rental rate by 237 nights to get the gross rental revenues.
Then multiply that by 65% to get your net revenues.
Subtract the annual mortgage payment times 12 months and voila!…your profit or loss for the year.
Now, to look much more closely at the true picture, use our Excel spreadsheet to determine your ROI by changing the variables. Click here to download the spreadsheet:
By using this simple tool, you will be able to determine the profitability of just about any property!
Excerpt from Parler Paris Nouvellettre®
Wednesday, October 7, 2009
Someone on my staff asked if there was a way to analyze the ‘demographics’ of our readers and property clients. The answer is ‘no’ to you readers, not really. In some ways we can know approximately where you live, but nothing tells us your ages or very much about you are…really. In spite of that, because we receive your letters, and because I read every single one of them (even file them away for future reference), I have a very good sense of exactly who you are…or at least what you think, if not your ages and other vital statistics.
The answer to the demographics of our property clients is ‘yes.’ In fact, we have very detailed (and confidentially held) information on each and every one of them, but I don’t have to do an analysis to know who they are. We work very closely with these people to find an apartment or house where they will want to reside or rent and call their own…hence we discover even the smallest personality quirks they may not even know themselves! (It’s no wonder most become and stay loyal friends for years after!)
Buying a property
is very different from buying other kinds o
f investments, such as stocks, bonds or gold. So much of the human element is involved…and it’s the human aspect of this ‘job’ that makes it so fascinating. During our staff meeting, while determining how many couples vs singles, men vs women, young vs old, fit into our demographic profile, one thing stood out — that for more than any other group, owning a "pied-à-terre" in Paris was more life changing for the single woman than for any other type of person.
Of course, as a single woman, I can personally speak about these profound life changes, but I’ve also witnessed it oh too often! And I’ve written about it before, but it’s an important message. So, if you’re a single woman out there, pay attention. Today’s Nouvellettre® is for YOU.
Let’s start with Paris and why Paris is great for single women:
1. Paris is safe. Women can freely travel alone at any time of day or night in almost any district and feel totally safe. This is a very big difference! Do you get into your car and lock the doors fast, like I used to do? Or never go anywhere alone at night for fear of the car breaking down somewhere you wouldn’t want to be stranded? And even in New York City where the subway runs all night long and there are people on the streets at every hour, do you still feel safe wherever you are? I doubt it.
2. Being alone in Paris is never lonely. You can dine alone, have a drink at a café alone, go to a movie alone…and never feel lonely or really ‘alone.’ In fact, being ‘alone’ is the best way to meet someone! Most North American cities are such family and couples-oriented places that being alone makes you stand out, particularly as a woman…don’t you think? And so what do we women do? We hang out with our friends — and that’s a tough way to let a ‘someone’ into the space you filled with them. "N’est-ce pas?"
3. Parisian (and most European) men respect and adore older women. Women don’t have to be face-lifted or tummy-tucked to look younger than they are to attract younger men, who see them as wise, worldly and more experienced. And young women can happily and openly choose to be with older men. Age is much less of a stigma for both genders when it comes to love and sex. Remember the article in the Washington Post February 2008, "French Women Don’t Get Fat and Do Get Lucky" by Pamela Druckerman? She wrote, "Just 15 percent of Frenchwomen in their 50s and 27 percent in their 60s haven’t had any sex in the past year, according to a 2004 national survey by France’s Regional Health Observatory. Another national survey being released next month will report that cohabiting Frenchwomen over 50 are having more sex now than they did in the early 1990s." So, women over the age of 40…go out and buy some sexy lingerie because here you’re likely going to actually get some use out of it!
4. "Parisiennes" dress! By that I mean they dress provocatively on a daily basis and love it, without anyone thinking they are…what’s that awful word?…"slutty?" Being "seduisante" simply means "attractive" and that’s exactly what they are. At 80 years old they’re still wearing fishnet stockings and high heeled shoes. You’ll see more skirts on their hips than pants so they can show off their shapely legs. And I’ll bet you’ll notice more older women braless than you’ll ever see on the other side of the Atlantic. "Quelle horreur!" Sure, they aren’t as ‘perky’ as they used to be, but who cares?…Not the men who are enjoying them!
5. Paris gives you self-confidence. With all these positive aspects on your side, you’re sure to feel more independent and more self-confident about who you are, both as a woman and as a person. And let me tell you something: that’s sexy as hell. Nothing is less attractive than neediness. So, even if you wanted to be ‘alone,’ you’re not likely going to be that way…at least for long! And you can live that way happily the rest of your life…single and happy to be that way.
Of course…we’re talking about life in Paris or anywhere in France. And that leads me to why owning a pied-à-terre in Paris has changed so many single women’s lives. Besides the fact that it’s an investment that is sure to grow, and provide financial security, the more time you spend here, the more all these wonderful things will happen to you. It’s as simple as that…
Read the entire article at http://www.adrianleeds.com/parlerparis/.
Photo credit: "Parisian Smoke" by Erica Simon,http://www.ericasimone.com/.
The Human Development Report 2007/2008 rated the countries in terms of their "human development index": a statistical analysis of factors that influence a person’s quality of life, such as per capita gross domestic product and life expectancy.
The UN list, which saw Norway retain its status as the world’s most desirable place to live, ranks sub-Saharan African states
fflicted by war and Aids as the worst.
Data collected prior to the global economic crisis showed people in Norway, Australia and Iceland had the best living standards, while Niger, Afghanistan and Sierra Leone scored worst in terms of human development.
For instance, Icelanders can expect to live 81.5 years, according to 2005 figures in the report. Adult literacy rate is high, and the combined enrollment rate for primary, secondary, and advanced university degrees is 95.4 percent.
The United Nations Development Programme (UNDP) index was compiled using 2007 data on GDP per capita, education, and life expectancy, and showed marked differences between the developed and developing world.
"All development is ultimately about expanding human potential and enlarging human freedom," the authors wrote. "Climate change threatens to erode human freedoms and limit choice."
After Iceland, the next nine best places to live are: Norway, Australia, Canada, Ireland, Sweden, Switzerland, Japan, the Netherlands, and France…
Top 20 countries in the world to live based on data from 2007, according to the UN:
13. United States
20. New Zealand
When you renew your subscription for one more year or newly subscribe to French Property Insider at 50% off the regular subscription price (only $29 instead of $57.50 for 50 issues), you will be entitled to participate FREE OF CHARGE to a special Conference Call on Sunday, October 18th…
"Your Pied-à-Terre in Paris: Own It All or Just a Fraction"
Our very own Search Consultant, Mary Ellen Gallagher, will be on the call with me (Adrian Leeds), helping you decide what’s best for your Paris investment portfolio and what fits your needs and desires best…a pied-à-terre of your own or a fraction of one!
Subscribe or renew your subscription now!…for only $29 for 50 issues plus call in on October 18th to learn more about the differences between owning your own apartment or a fraction of one!
http://www.adrianleeds.com/frenchproperty/insider/members/signup.php or for more information go to http://adrianleeds.com/frenchproperty/insider
French Secretary of State responsible for local authorities Alain Marleix has announced the government’s intention to carry out a reform of local taxes currently levied on individuals, in a bid to put the finishing touches to the wider reform of local taxation in France, which includes the abolition of local business tax from 2010.
According to Marleix, the ongoing reform of local taxation in France has highlighted the need to urgently review the basis on which local taxes for individuals are calculated – on the cadastral value of a property.
Indeed, an annual public report by the Court of Auditors, published back in February, had already concluded that methods used to calculate local taxes in France are ‘obsolete’ and ‘unfair’, calling then for an urgent reform of procedures.
According to the report, the cadastral data, still used to determine local taxes in France, dates from the 1970s for developed land, and
from the 1960s for non-develop
ed land. The report highlighted that such antiquated figures not only serve to portray an outdated image of French living, but also represent a risk for local authority finances.
Referred to in the report as “obsolete” and “unfair”, the cadastral data fails to take account of any modifications or improvements undertaken on property. For example, the tax base of a loft apartment of modest exterior, yet completely – and luxuriously – refurbished inside is lower than the same sized “modest” apartment containing the same number of bathrooms…
Read the entire article at http://www.tax-news.com/asp/story/Frances_Marleix_Announces_Reform_Of_Local_Taxes_From_2010_xxxx39471.html.
If you’ve never benefited from financial coaching, this is the place for you!
Come hear Adrian Leeds enlighten you on "Property Investment in France" 2 p.m. to 3:15 p.m.!
MONEY MATTERS FOR WOMEN is a half-day conference held in Paris, France for today’s global woman who wants to understand her current financial situation, plan intelligently and take proactive steps in managing her money.
The conference features:
- A dynamic keynote speaker
– Nine concurrent presentations and discussions with professional financial information
– A closing session for all conference attendees and a networking cocktail reception to end the day
This conference recognizes that women have unique financial goals and challenges which must be addressed. So invite your daughter, friend or neighbor to share in this empowering experience and walk away with more confidence and the tools to own your financial uture.
The Money Matters for Women 2009 conference is presented by WICE and hosted by The American University of Paris. Special thanks to Smart Women Products for their continued support of this conference.For more information and to register, visit http://www.moneymattersforwomen.org.
One of the first thing visitors notice upon entering this Alpes Maritimes village, once home to the artists Henri Matisse and Marc Chagall, is a 15-foot bronze sculpture of a dove dominating a traffic circle at the entrance to the town.
It is “The Wounded Dove of Peace,” one of a series of works by Fred Nall Hollis, an Alabama native. Mr. Hollis, known professionally as Nall, arrived in France in 1971 to study at the École des Beaux-Arts in Paris, where he became a protégé of Salvador Dali. He moved to Nice in 1976 and lived in several spots, including what had been the artist Jean Dubuffet’s studio in Vence, before buying a three-hectare (seven-and-a-half-acre) estate in 1991.
He built a red-and-yellow studio-cum-home of concrete and wood on the sprawling site in 1994, something he calls his “biggest artwork to date.” He spends half the year here and the other half in Fairhope, Ala.
The Vence house has 250 square meters (2,690 square feet) of living space, with two bedrooms and two and a half baths, and is chockfull of Mr. Hollis’s own art and the unusual items he has collected from as far away as India.
The entrance hall is decorated with yellow and white tiles by Matisse, which were a gift from his friend Ralph Hammond, a former poet laureate for Alabama. “Ralph gave me these knowing my work with tiles and mosaic,” said Mr. Hollis, 61. “He thought that this would be an interesting addition to the studio as the Matisse Chapel is in Vence.” At the end of the hall is a long, narrow living room…
It is difficult to value a property like Mr. Hollis’s, but Cillian Fahey, a partner in the French luxury real estate agency Henri James, said prices for a standard villa in the area range from 5,000 to 7,000 euros per square meter ($658 to $922 per square foot). And they can rise to as much as 60,000 euros per square meter ($7,899 per square foot) for an exclusive estate.
“The market in Vence is typically old money,”
said. “It is for people who prefer to live hidden away.”…
Read the entire article at http://www.nytimes.com/2009/10/07/greathomesanddestinations/07gh-france.html?_r=3&hpw.
Photo credit: Liza Foreman
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
LE PALACE DES VOSGES
CHEZ LA TOUR
LE PETIT TRESOR
NOTRE MAISON DANS TOULOUGES
To see our latest Fractional offerings go to http://adrianleeds.com/frenchproperty/fractional/fractional_offerings.html
Sales and enquiries about property in France are increasing as the latest figures suggest that prices have bottomed out.
The latest figures from the FNAIM, the national estate agent’s organization, show that prices fell 1.2% in August compared with 1.8% in July suggesting that values are stabilizing. Overall the figures show that in the last 12 months prices of apartments have fallen 7.2% and house are down 8.9%.
What the figures also show is that in the last year the property market in France has been much less volatile than that of its neighbors in the UK and Spain.
has not been hit as badl
y by the global economic downturn as other countries. Now prices are very much moving towards stabilization,’ said a FAIM spokesman.
Others in the industry are also encouraged. According to Athena Mortgages, which has offices in London and Paris, there has been a significant rise in inquiries from property investors seeking finance to buy in France. It saw an 18% rise in mortgage enquiry levels during August and a 9% rise in actual mortgage applications…
Read the entire article at http://www.propertycommunity.com/property-in-france/382-french-prices-bottom-values-stabilise.html.
The Moneycorp MasterCard Prepaid card can be loaded with euros or US dollars, by the main cardholder using a debit or credit card.
There is no line of credit with the card so you can only spend what you have loaded – helping you to stay in control of your money.
You can use your Moneycorp Prepaid Card to make purchases wherever the MasterCard Acceptance Mark is displayed– that’s over 26 million locations including 1.2 million ATMs worldwide.
It’s easy to manage your money with the Moneycorp Prepaid Card and account.
Take the Risk Out of Currency Conversion
If you’re buying a holiday home or investment property overseas, when you trade your currency is crucial. The euro exchange rate is constantly fluctuating, so trading at the right time will mean your money goes a lot further. Adrian Leeds Group LLC and Moneycorp are working together to ensure you make the most of your Dollar or Sterling when buying a property in France.
For the latest exchange rate use our currency converter at http://www.adrianleeds.com/frenchproperty/loan/moneycorpconvertor and learn more about moneycorp here:
Although most of the people here in the UK looking to purchase a property in France seem to be "waiting to see what will happen," especially with the current state of the Sterling, others are actively looking and negotiating very good deals. In fact, some have realized that given the combination of price reductions and lower offers being accepted, prices of most properties on the French market have remained stable in sterling terms.
Indeed, the current situation favors purchasers rather than sellers, and most are accepting offers that would have seemed comical just a few months ago. Everybody is in agreement that the first few months of 2009 should remain a buyer’s market and as such be an excellent time to buy property for sale in France….
Property for sale in Brittany
In the Cotes d’Armor department of Brittany, which has always been the most popular market with British expatriates, not only for its historical connection with the British isles, but also because of its long-established transport links with the UK, the average cost for a house is now 161,540 €. Areas further afield like Loudeac or Carhaix Plouguer remain favorites as prices are considerably cheaper than resorts closer to the sea like Saint Malo for example; it is not unusual to see habitable properties go under 50,000€ in traditional little villages such as these.
Property for sale in Aquitaine
In the Dordogne, the average cost for a house is now 150,100 €; the credit crisis is now having a dramatic impact on the prices of properties, especially the higher value and stone houses properties that are at reduced prices as owners are conveying a willingness to accept much lower offers. In the North of the department, in hamlets like Nontron or small villages such as La Coquille, prices remain cheaper than the area surrounding Bergerac (where one would find the international
ort) and guaranteed bargains are to be made by people with a good knowledge of the market.
Property for sale in Limousin
In the Limousin, which remains the cheapest place in France for someone looking to purchase a property, the average cost for a house is now 92,200 €; the Creuse department remains the cheapest of all with a 2-bedroom house costing an average 68,600 €. Prices are expected to drop a further 5% to 10% in the course of 2009, but nobody really expects it to go below this as prices are already very low. On top of that, the opening of the new airport in Brive la Gaillarde (expected soon) should see prices in the Correze department increase, especially in the villages that could be reached in less than 1 hour from the international airport.
Property for sale in Languedoc
In the Languedoc region, the favorite place for the sun, alongside the French food, wine and way of living, the average cost of a house is now 209,500 €; the Aude department, popular with people looking around Carcassonne and Perpignan, or generally close to the sea, remains the cheapest with a 2-bedroom house costing an average 157,900 € – the Gard and Herault departments, most popular with people looking for a Provence-style move, are very close in prices, with the average cost for a house being respectively 231,500 € and 232,000 € – prices in this region are expected to drop a further 5% to 10% over the next year but most properties are having their prices reduced and owners seem content to accept much lower offers in this corner of France also…
Read the entire article at http://snk.aes-int.cn/foot/441307.
PARIS — The Hôtel Lambert, in a corner of the Île Saint-Louis overlooking the Seine, was once one of Paris’s best-kept secrets. But when a high-rolling Qatari prince bought the crumbling 17th-century palace in 2007 for $88 million, the Lambert became the center of attention, not all of it so attractive.
The Lambert was built as a private residence (a “hôtel particulier”) for the Lambert family and was finished in 1644, when it bordered Parisian fields and cows. But it has been through various owners, who have made various architectural changes, some of them disastrous. The building was most recently used as a kind of apartment complex for friends of the Rothschild family, and some of the most beautiful rooms, with frescoed ceilings and 18th-century paneling, are moldy and cracked.
The plumbing is outdated and leaks; the original floors are a mess, or have been replaced. Even a free-standing silver bathtub, set in a huge room with a view of the river, is pitted and tarnished…
In France, restoration of protected buildings must be overseen by a state-certified architect. For the Lambert, that job belongs to Alain-Charles Perrot, the chief architect for historic monuments. The polemic surrounding the Lambert, he said, has been political from the start. “It was fomented by people who are taking a very limited view of things,” he said. “You can’t keep a building like this one in a freezer.”
He sees misplaced patriotism and a touch of racism at work, suggesting that opponents are seeing an unwelcome foreign intrusion and a loss of what they consider to be rightfully theirs. “The project is attacked because, behind the scenes, the French can’t stand that the people buying hôtels particuliers in France are Arab princes,” Mr. Perrot said.
He spoke of the damage already inflicted on the building over the centuries, citing the four 19th-century square windows on the top story as an example of something he would remove…
Read the entire article at http://www.nytimes.com/2009/10/08/world/europe/08lambert.html.
Photo credit: Ed Alcock for The New York Times
If you are a guest staying in any one of our luxurious Parler Paris Apartments, and would like to consider having your own "pied-à-terre" for your pleasure and profit, contact Adrian Lees for a FREE one-hour consultation while you’re enjoying the apartment in the City of Light. Visit
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. Parler Paris Apartments offers high quality accommodations to make your stay in the City of Light as enjoyable and memorable 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!Parler Paris Apartments is administered and serviced by the same great team as Parler Paris, French Property Insider and French Property Consultation. You can trust that Parler Paris Apartments and all those with whom it is associated will do heir best for your 100% guaranteed satisfaction.
SPOTLIGHT APARTMENT(S): Last Minute Special Rate: Studio Le Provençal (and others) Now Available for the Fall! Ask about the special discount on last-minute reservations…
3rd Arrondissement, Le Marais
Large Studio, Sleeps 2
"Le Provençal" studio, located on the quiet courtyard of a very charming 18th-century building in the heart of Le Marais, is the pride and joy of owner, Adrian Leeds, editor of the Parler Paris and French Property Insider newsletters. There isn’t an apartment in Paris more charming and cheerful…ask all who have had the pleasure of staying here. Le Provençal is completely equipped in spite of its size! Complete with a king size bed that converts to twin beds when desired, a Siemens brand washer/dryer combination, espresso maker, microwave, toaster-oven, two-burner ceramic stove, refrigerator, high speed Internet, flat screen TV, DVD player, stereo, and free(!) long distance phone service, this delightful and cozy studio makes a perfect Parisian home for one or two.
Those who are thinking of moving to France but are concerned they will miss the arts festivals should not be worried. Buying property in France does not mean you will be missing out on the best in music, drama and comedy as this year’s Provence festival is likely to prove.
Founded back in 1947, the event plays host some of the best directors and film companies in the world.
Entertainment on offer includes drama and classical performances as well as the latest in dance, music and opera.
Entertainment in Avignon
Whether you are into the arts or not, the city has plenty to offer in terms of investment and buying French property. As well as the annual festival, Avignon is also famous for its fabulous food, wine and weather alongside its cultural attributes.
It also has the advantage of being right in the centre of France’s stunning and popular Provence region.
Retiring to France
There are few places in France that are more ideal to live out your days than Provence. The region is the perfect place to relax and also offers up plenty to do for those who are looking for a bit more adventure. Among the activities enjoyed by many retirees in the area are the numerous outdoor markets and sports such as hiking, canoeing, horse riding and golf.
on the coast is expensive but as you move inland, say 30 minutes drive from the coast, property prices drop significantly. Cannes, Nice, St Tropez and other chic resorts are much more expensive but rental incomes during the Summer season can pay the mortgage!
Property in Provence can be found from 75,000 euros – stone houses, land and farms…
Read the entire article at http://www.toptravelarticles.com/travel-through-france-to-avignon.html.
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.
This week we focus on some interesting property opportunities, suitable for rental, found in central Paris.
*** Ecouffes Marais, 4th: Studio, approx. 22m²
Located in the heart of the Jewish quarter of the Marais, this charming studio is a perfect rental investment. Situated on the first floor of a period building, the apartment is bright, sunny and quiet. There is a living area, open kitchen and bathroom. The original details, including exposed stone and beams add to the charm of this little jewel. Near plenty of boutiques, restaurants, café and museums, including the Picasso Museum and the Pompidou Center. Fully renovated to preserve the character of the period.
Asking Price: € 225 000 + 2.5% Finder’s Fee
*** Saint Martin Turbigo, 3rd: Studio/One-bedroom, approx. 40m²
Spacious studio, transformable into a one-bedroom apartment, located in an 18th century building in an historic district near the Pompidou Center and the Conservatory of Arts and Métiers. The apartment has a small entry, a large living area with plenty of light thanks to its large windows facing the courtyard. The apartment also has ceramic hexagonal tile on the floor, exposed beams, a separate kitchen and bathroom with WC. The apartment is calm due to the courtyard view. In the heart of a lively and sought after Parisien district. In need of full renovation.
Asking Price: € 279 000 + 2.5% Finder’s Fee
*** Vertus Marais, 3rd: One-bedroom, approx. 31m²
One-bedroom apartment located in a well-maintained building with digicode and Interphone security. Facing the Eastern sky, this apartment has original details including hardwood floors and exposed beams. The living room is bright and faces a quiet, pedestrian street; there is a separate kitchen and a bedroom facing the courtyard with an ensuite bathroom. Near plenty of shops, restaurants and cafés and the métro République with five lines of transportation. Perfect as a rental investment or pied-à-terre.
Asking Price: € 285 000 + 2.5% Finder’s Fee
*** Marais Temple, 3rd: One-bedroom, approx. 38m²
Two room apartment near the Square du Temple located in a cobblestoned, tree-lined courtyard. The apartment is situated on the ground floor of a period building, is bright and has been fully renovated. There is a living room with an open, fully-equipped kitchen, a bedroom, bathroom and powder room. There are original details, including exposed beams. Located steps away from the rue Bretagne, the Les Enfants Rouges market, boutiques, cafés and restaurants. Ideal as a pied à terre or rental investment.
Asking Price: € 302 100 + 2.5% Finder’s Fee
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 www.encheres-Paris.com.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
|The following properties will be auctioned off October 13, 2009:|
Editor’s Note: If you look at the properties on the Notaire’s site (www.encheres-paris.com), when you click on the information for a particular property there is also a link to Google Maps to show you exactly where the property is located.
* Luxury Real Estate Trade Fair Loves Paris in the Autumn *
Not everyone can afford a private island or a fancy penthouse on New York’s Upper East Side. Still, for those who can, an invitation to the Luxury Real Estate Trade Fair will be just the thing to make the autumn seem brighter. And where better to promote high-end property than Paris, the world capital of chic? This elegant ambience will be further enhanced by the venue, Paris’s famous Musée du Louvre.
On the 27th, 28th and 29th of November 2009 Prestige-Paris will celebrate its third birthday with the assistance of France Convention, a specialist in niche and luxury trade fairs. This year’s gathering will be required both to meet the visitors’ very demanding expectations and outdo last year’s exceptionally successful event.
The recent recession has failed to affect the luxury sector as much as the rest of the economy, in fact the latest figures have revealed that the Parisian real estate market has improved. It seems that the most beautiful and luxurious homes never fail to find a buyer, a thought that will encourage participants in this most prestigious property exhibition.
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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: www.onlineconversion.com/
The second Tuesday of every month, Parler Paris and French Property Insider readers gather at La Pierre du Marais for a drink and a "schmooze" –It’s an opportunity to meet and chat with other like-minded people and a great way to make friends! Costs nothing except your drinks. Don’t miss the next gathering Tuesday, October 13th, 2009 from 3 to 5 p.m. and every second Tuesday of the month (except August).
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