Special Sunday Edition
Sunday, August 27, 2006
Dear Parler Paris Reader,
It’s hard to believe, but the Summer has just slipped away. Time seems to go faster the older we get…because all things being relative, one Summer among 50 is a much smaller quantity than one among 20. (Remember when you were 20 years old and each year of college seemed like an eternity?…You couldn’t wait to get out into the real world!)
This weekend has been unusually quiet in the City of Light, as vacationers are planning their return today to gear up for “La Rentrée” — the REAL new year in France. Lots of businesses have signs on their doors announcing a reopening tomorrow, so I imagine the autoroute is bumper to bumper re-entering the city to head home after a few weeks in the country or at the seashore.
This means for us, that more properties will soon come on to the market, the agents will be back in their offices and the real estate market will get back underway. This week’s Nouvel Observateur ran its quarterly real estate issue announcing the latest property prices in Paris and in the Ile-de-France.
For us this was old news…because by the time the magazine is able to write and publish the figures, the statistics for the following quarter are already announced! In fact, French Property Insider ran the newer report in the August 17th issue!
Still, it’s worth reading the Nouvel Observateur for their point of view, as they interview agents in many of the districts to track the trends — a very important process when it comes to real estate investment.
One thing to always keep in mind when reviewing the cost per square meter figures is that you can never count on them being correct! The property price figures for Paris and the Paris region (Ile-de-France) are reported quarterly by the INSEE, the French National Institute for Statistics and Economic Studies. Two weeks ago the statistics were released for the end of first quarter 2006, almost five months after the closing of the month. Given that the properties to which the statistics relate were purchased about three months earlier than the deeds were recorded (the time between the signing of the Promesse/Compromis de Vente and the Acte de Vente, you can assume then, that these figures are already out of date by eight months. That means that those same properties would have appreciated 8.5% within those eight months, based on the annual appreciation of 12.7%.
Other factors that contribute to this variance are: 1) the reduction in the purchase price, which can be attributed to direct payments made to the sales agent to help reduce notaire fees, 2) the listing of inventory of fixed furniture such as built-ins and appliances and 3)the under-the-table cash transactions, which are illegal but do occur. Finally, the figures are diluted as they are reported by an arrondissement in its entirety and do not account for differences by neighborhoods.
This is just one example of how French Property Insider can help you understand the current real estate market in order to make informed decisions. It’s a weekly electronic magazine (e-zine) devoted to educating its readers on how to effectively, efficiently and profitably purchase property in France.
Every issue (50 per year) is packed with information…
French Property Insider also contains listings of apartments and homes for sale as of each writing — that provide a sampling of what’s on the market at the time. Property prices are reported regularly — as often as the Chambre de Notaires updates them (quarterly). New laws and changes to existing laws are brought to light. The ins and outs of purchasing specialty properties, such as the “viager” or 1948 rent controlled apartments is often on the roster.
You’ll also find articles on culture and lifestyle to help you learn those important things necessary to “fitting in,” wherever you choose to rent or buy.
It’s all at your fingertips…every single week! And today we have a special offer for you in TWO parts.
Special Offer Part One:
With your subscription, you will receive FREE reports to help you make your dreams of living or retiring in France a reality…
“The Paris Property Report”: Designed to answer all your questions about buying in Paris…
And…”The French Leaseback Program: Are Leasebacks for You?” T
his report gives you the background and history of the program, the ins and outs, ups and downs, pros and cons — the truth about the French Leaseback “scheme.”
Plus…as a subscriber to French Property Insider, you will be invited to run FREE 3 months of online classified text ads on our Web site or 3 FREE text messages inside the weekly newsletter. You can use your free ads to advertise a property you have to rent or to sell.
Plus…as an FPI subscriber, you’re entitled to a special discount price on our highly informative electronic Insider Paris Guides!…the
That was all just Part One! Now for Part Two.
When you subscribe today for TWO years at the low price of $79.50, you will receive TWO EXTRA months of issues of French Property Insider! Not only will you get 100 weeks of great reading over the course of two years, but you’ll also get an extra 8 weeks so you won’t have to miss a single word!!
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Ridiculous, isn’t it?
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Get Two More for Your Money Before the End of Summer — Offer Ends Thursday!
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