Getting More Bang Out Of The U.S. Buck

In today’s French Property Insider, we attempt to address the current rate of exchange situation and how that affects investment in the euro in today’s French Property Insider. We will be fully discussing the pros and cons of purchasing a euro asset with a weak dollar during the Invest in France Seminar on December 29th here in Paris (https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/IIF_Paris/IIF_home.html) and it’s an important topic for all our clients in the midst of purchasing their dream home in France.

Analysts seem to agree that investing in strong currencies is a solid investment “because foreign-earned profits are worth so much more when they are turned back into dollars.” Scroll down to read Kathleen Pender’s article and some good advice from a reader.

Meanwhile, Invest in France Seminar participants and visitors to the City of Light during the week between Christmas and New Year’s have a special treat in store for them, thanks to Vincent Dupont, “hôtelier” with the four-star Les Jardins du Marais. Vincent will guide you and only four others through the streets of the City of Light by night in his luxury van to see the stunning Holiday array of lights and spectacles…only four tours are available. Scroll down for all the details or visit
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/IIF_Paris/IIF_Paris_by_Night.html and reserve now before the seats are gone.

And news on the online scene for Anglophones seeking a wide variety of resources in Paris is Franglo.com, a free classified ad service for Anglophone Francophiles. From now on you won’t have to run out for the latest copy FUSAC (France-USA Contacts) — just click on http://www.franglo.com direct from the Parler Paris site (http://www.adrianleeds.com/parlerparis) to read the ads or post your own!

A bientôt,

Adrian Leeds
Editor, French Property Insider
Email: [email protected]

P.S. Don’t forget to stop by Parler Paris Après Midi Tuesday, December 14th for coffee and conversation. Visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apresmidi.html for more information

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Volume II, Issue 49, December 9, 2004

In this issue:

* Turn a Weak Dollar Into a Smart Euro Investment
* The Eurostar Walks on Water 10 years Later
* Making French Toast in a “Cuisine Americaine”
* Ad-ing Up the Words
* Book It at Last Month’s Rate of Exchange
* An Update on Paris Property: Part II
* Currency Exchange Update
* Hot Property: King Authur Country
* Paris Property Picks: Passing on Passy
* Leaseback News: Paris Haussmann
* Classified Advertising: Apartment Rentals

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Getting More Bang Out of the U.S. Buck
By Adrian Leeds

Money is rarely a topic of conversation in France. In fact, it’s one of the cultural attributes I have come to enjoy quite a lot. People simply don’t ask what something costs and life’s little luxuries aren’t valued based on their cost, but on the amount of pleasure one receives from them.

Things have changed as of late — the price of the dollar is as much on everyone’s lips as the recent U.S. election was a little more than one month ago. Letters are flying in from readers asking for opinions on what we can expect the future to bring for the ever-increasing euro and the ever-declining dollar.

I’m no financial analyst, nor have I been wise to transfer dollars to euros when the rate of exchange was fairly even. Now I’m sitting on the same threshold as you, watching the rate of exchange daily (you can subscribe to a daily newsletter at http://www.xe.com) and bite my nails as the euro continues to creep up against the dollar. Smarter friends are sending me buckets of money to deposit in euro savings accounts to hedge their bets against the future they see as potentially gloomier. I’m the ultimate optimist and don’t believe the euro nations will allow the imbalance to go much further.

When I moved here in 1994, the French franc was five to the dollar, equivalent to about $1.33, a similar position as it is today. In spite of the additional expense, we decided that fulfilling our dream to live in France was more important and that “what goes up must come down” — so eventually it would balance out. It did. In 2000, when I purchased property, the dollar was at a peak and yielded more than 7 francs, or approximately $.93 to the euro. On the other hand, interest rates were higher, bringing mortgage payments higher along with them.

Readers are asking important questions about how the current exchange rate situation will affect property investments and appreciation. Paris pr
operty has never been “cheap,” but is still less expensive than its European counterparts as in London or Dublin. And it’s getting more expensive all the time, as appreciation in Paris property continues at the rate of more than 13% annually. We have not seen any change in this upward price trend and viable properties are selling within a few weeks of being on the market at very close to original asking prices. For the French who earn euros and purchase in euros, the rate of exchange doesn’t affect their property purchase.

Interest rates have been at an all time low for a few years now, therefore reducing borrowing costs — a move that would presumably weaken the euro. And low interest rates make purchasing property and therefore investing in the euro that much less expensive.

Analysts believe that now is the time to invest overseas. Read Kathleen Pender’s advice:

* San Francisco Chronicle
Kathleen Pender
Tuesday, December 7, 2004
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/12/07/BUGE2A7GG81.DTL

Weak dollar good for international funds

The sinking dollar has been a bust for Americans who travel overseas. But it has been a boon for Americans investing overseas because their foreign- earned profits are worth so much more when they are turned back into dollars.

The Morgan Stanley Europe, Australia and Far East Index, the main measure of foreign stocks in developed countries, is up 10.3 percent year to date, including dividends. But in dollar terms — the number that matters to U.S. investors — the index has returned 17.2 percent. That compares with an 8 percent return for U.S. stocks.

The dollar has already fallen 22 percent against the yen and 35 percent against the euro since early 2002. Many experts expect it will continue to slide, given America’s widening trade and budget deficits, and low savings rate. How much is anyone’s guess, but another 5 to 10 percent is reasonable.

Michael Hasenstab, co-manager of the Templeton Global Bond Fund, which can invest anywhere in the world, says he is so convinced the dollar will continue to weaken, he currently has zero percent of his fund in U.S. bonds.

“The fundamentals still point, in our view, to a weaker dollar,” he says.

The easiest way for Americans to invest overseas is through a stock or bond fund with “foreign” or “international” in its name. (Funds with “global” in their names usually invest in the United States as well as overseas.)

There are two good reasons U.S. investors should have a modest part of their portfolio, say to 10 to 20 percent, in foreign funds. You’re missing a lot of great companies and opportunities if you only invest domestically. And U.S. and foreign markets often move in opposite directions, which “gives you a smoother, less volatile ride and lets you sleep at night,” says Jeremy DeGroot, director of research with Litman/Gregory Asset Management.

Speculating on exchange rates is generally not a good reason to invest in foreign funds, considering how hard it is — even for experts — to predict currency movements.

If you are just getting into foreign markets now, you’ve clearly missed the easy money. And if the consensus is wrong (which has been known to happen) and the dollar stages a comeback, many foreign funds will experience currency losses instead of gains.

It’s important to know that some funds hedge their currency risk. They engage in transactions designed to reduce or eliminate gains or losses from exchange-rate moves, leaving just the performance of the underlying stocks or bonds.

Other foreign funds do not hedge.

“Our clients are U.S. investors who are trying to diversify. If we hedge our currency, we reduce their diversification,” says Raymond Mills, portfolio manager of T. Rowe Price International Growth & Income Fund.

T. Rowe Price does no hedging in its bond funds and generally does not hedge its stock funds but reserves the right to do so.

Over a long time period, hedged and unhedged funds may end up with similar returns if they invest in the same countries and types of securities. But the unhedged fund will give you a bumpier ride.

During the mid- to late-1990s, when the dollar was rising, hedged funds generally outperformed similar funds that did not hedge.

During the past few years, when the dollar was mostly falling, unhedged funds generally outperformed their hedged peers.

The best way to find out if a fund hedges is to read its prospectus. But you can also ask the fund company and hope for a good answer.

Foreign stock and bond funds can both produce currency gains and losses, but it’s easier to predict the impact of exchange rates on bond funds than stock funds. That’s because stock funds invest in companies whose business can be affected by currency moves.

Suppose a U.S. investor buys stock in a German automaker. If the dollar declines against the euro, the German automaker might suffer for several reasons, among them because the price of American-made cars will be cheaper in global markets. The German company’s stock price may fall in its home currency, but it could still rise in dollar terms because the dollar has fallen. (I’ll write more about foreign stock funds in a future column.)

Foreign bond funds invest largely in government and some corporate debt, which are not affected by currency moves the way same way stocks are.

If you want to speculate on exchange rates, it’s easier to do it with a foreign bond fund than a stock fund. Morningstar analyst Lynn Russell doesn’t think that’s a game for the average investor.

When you invest in a foreign bond fund, “you really have to do your homework,” says Russell.

You have to decide if you want to invest in developed or emerging markets, in government and/or corporate debt, in short- or long-term bonds and in funds that hedge or don’t hedge currency risk. Then you have to figure out which funds do what.

An investor who is convinced the dollar is going to continue its descent would choose a foreign bond fund that is unhedged, that invests mainly in government debt and does not invest in the United States or developing markets, because many of them link their currency to the U.S. dollar.

Funds that fit this bill include Pimco Foreign Bond Unhedged, T. Rowe Price International Bond, BlackRock International Bond and American Century International Bond, she says.

“If you think the dollar decline is on its last legs, you might choose Pimco Foreign Bond Hedged,” says Russell.

DeGroot says his firm has advised clients to put 5 to 10 percent of th
eir portfolios in a high-quality foreign bond fund such as Pimco Foreign Bond Unhedged or Loomis Sayles Global Bond Fund. (The latter has about 30 percent of assets in U.S. bonds.)

“While we are not going to be currency speculators, there are indicators the dollar could decline substantially,” he says. “Currencies can really gain momentum.”

* Advice from reader Larry Morrison:

Everbank offers one easy investment to hold a strategically diversified portfolio of world currencies designed to pursue specific investment objectives.

* Current Index CDs include our Prudent Central Bank CD, Petrol CD, Commodity CD, Viking CD. Learn more.
* Reduce the risk associated with investing in a single currency.
* Selected Index CDs allow you to earn higher yields than are available in CDs denominated in U.S. dollars. Check current yields for Index CDs.

All Index CDs are available with 3- and 6-month terms, with a minimum investment of $20,000 — far less than it would cost to invest in these currencies individually, and with much less hassle. Applying and funding is fast and easy.

Visit http://www.everbank.com/main.asp?affid=eb for more information.

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News from Maison de la France

* Trains Planes & Automobiles

Eurostar Celebrates 10th Anniversary

As the high-speed Eurostar train linking London with Paris and Brussels through the Channel Tunnel celebrated its 10th anniversary with an unusual “walk on the water,” evidence of its commercial success was unveiled: the highest market share recorded in its 10-year history, as well a substantial increase in passenger numbers and significant improvement in punctuality. In addition, plans for future improvements were announced, according to Rail Europe, official North American distributor of Eurostar.

In an unusual ceremony celebrating a decade of service (begun November 14, 1994), a specially decorated Eurostar power car [engine] was floated on the Thames River in London under Tower Bridge on Monday, November 15. A total of 59 million passengers have ridden Eurostar in the past 10 years. In the first 10 months of 2004, the train carried 6.046 million passengers, 16.2% more than the same period last year.

Much of the increase is attributable to the faster travel times and greater punctuality made possible by the completion in September 2003 of the first segment of the Channel Tunnel Rail Link — dedicated high-speed track in the UK, allowing the train to run at 186 mph on most of the British route — as it does on the entire route in France and Belgium. Last year also saw the launch of new low fares, starting at $90 US/$124 CAD roundtrip in standard class, designed to compete with low-cost air carriers.

New records for market share and punctuality

According to figures released by Britain’s Civil Aviation Authority, Eurostar’s leading share of the combined rail/air market on both London-Paris and London-Brussels routes grew in the past year, from 64.91% to 67.99% (London-Paris). Punctuality (operating within 15 minutes of scheduled arrivals/departures) in the first 10 months of 2004 was 89.2%, up 13% over the same period in 2003.

In the last year, airline competitors have reduced the number of flights between London and Brussels. The train takes just 2 hours 35 minutes (London-Paris). Service is frequent, with up to 16 daily departures in either direction (London-Paris).

“All these factors — frequent, on-time service, faster travel times and lower fares — have contributed to the ever-increasing popularity of Eurostar in general,” notes Fabrice Morel, President of Rail Europe Group. “The convenience of traveling city-center to city-center, rather than wasting time and money going to and from airports, makes Eurostar tremendously attractive to North Americans trying to get the most out their relatively brief trips to Europe.”

More improvements coming
By 2007, the last section of the Channel Tunnel Rail Link will be complete, reducing travel times another 20 minutes one-way (40 minutes roundtrip). At that time, Eurostar will operate all trains out of London’s St. Pancras station, rather than Waterloo as it does presently.
Other significant service improvements already completed or due to be completed soon are: refurbished train interiors and new staff uniforms, onboard Wi-Fi capability, and electrical outlets for laptops, mobile phones and other devices in all 1st class carriages and selected standard class carriages.

For Eurostar tickets or more information on Eurostar and trains throughout Europe and the UK, contact a travel agent or Rail Europe at 1-800-EUROSTAR or log on to www.raileurope.com. Media contact: Chris Lazarus, AJ Lazarus Public Relations, [email protected] or (718) 789-1500. Photos available upon request to [email protected]. Other high-resolution photos of Eurostar may be downloaded at http://www.raileurope.com/presspix

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What’s an American Kitchen?
By Adrian Leeds

You’re surfing the net looking for Paris property. The classified ads are all in French…of course (although some sites now offer translations!). You may know lots of the words, but not necessarily the terms relating to property. For example, here’s an ad that intrigued me. Test your ability to decipher it BEFORE using Yolanda Robin’s Glossary of Real Estate Terms below and then scroll down further to see if your translation fits ours…

ANNONCE N° CPRO/4182560 DU 07/12/04
75 PARIS 3ème ardt
Adresse : rue Charlot
Proximité : marais
Vente – Appartement – 5 pièces – Ancien – 100m².
rue CHARLOT IIIème dans bel immeuble du XVIIIeme, en rez de jardin sur une grande cour pavée et fleurie. un grand salon avec une cheminee, une salle à manger, une cuisine équipée, deux chambres, deux salles de bains. chauffage ind gaz / parquet/ cheminee / clair / calme. parfait état / gardien 682.000 Euros
Infos + : Rénové, Rez-de-chaussée, 3 chambres, 2 salles de bains, Chauffage au gaz.
Demande d’informations complémentaires
Contacter l’annonceur PROFESSIONNEL :
AGENCE DU MUSEE – 116 rue Vielle Temple – 75003 Paris
Tél. : 01.42.78.08.02 – Fax : 01.42.78.08.04

——————————-

Glossary of Real Estate Terms
By Yolanda Robins

Editor’s Note: Yolanda Robins is French Property Insider’s
Property Search Consultant. She can assist you in every way to find the France home of your dreams. To contact her directly, email [email protected]

——————————-

Now, test your knowledge of real estate terms. Here’s the ad translation:

CLASSIFIED AD NUMBER 4182560 FROM DECEMBER 1, 2004
PARIS Department 75, 3rd District
Address: rue Charlot
Proximity: Marais
For sale: apartment, 5 rooms, old building, 100 square meters

Charlot street, 3rd arrondissement, in a beautiful building from the 18th century, on the ground floor garden on a large cobblestoned courtyard planted with flowers. A large living room with a fireplace, dining room, equipped kitchen, three bedrooms, two bathrooms. Individual gas heating, parquet wood flooring, sunny/clear, quiet, in perfect condition, concierge. 682,000 Euros

More information: Recently renovated, ground level, three bedrooms, two bathrooms, gas heating.

Request for more information
Contact the agency:
AGENCE DU MUSEE – 116 rue Vielle Temple – 75003 Paris
Tél: 01.42.78.08.02 – Fax: 01.42.78.08.04

How did you do? Sounds like a beautiful apartment, no? And just around the corner from me!

Adrian

P.S. American kitchens became popular with the arrival of IKEA and modular cabinetry that made kitchens pretty and functional. Previously, the French preferred to hide away their cooking, their pots and pans and servants (when they had them).

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Book your seat and your Paris hotel before December 10th
at a better rate of exchange!

In just a few weeks, on the Wednesday between Christmas Day and New Year’s Eve, December 29th, property attorney John Howell, myself and a host of other high-level property professionals will be joining me and a fortunate group of investors for the “Invest in France Seminar” taking place at the newly designated four-star hotel “Les Jardins du Marais.”

I am writing you today to remind you that not only do you still have a chance to be one of the select few we have seats for, but because if you reserve before December 10th, you’ll still be able to take advantage of the incredible hotel rate we negotiated — less than half the current “rack rate.”

You see, when we fixed this special rate with the hotel, the exchange rate was $1.25 to the Euro, so while the price in Euros remained the same, the price in U.S. dollars has increased to $1.33…but not for those who have already reserved and paid by credit card! How lucky to have secured their rooms at this rate — and how unlucky for us seminar organizers who took the risk!

So now is your opportunity to take advantage of our mistake — I offer this same lower rate to you! As long as you register and reserve by Friday, December 10th, we’ll stick with the rate we offered at $1.25 to the Euro. After that, we’ll have to charge the hotel rate based on the current rate of exchange and who knows what that will be!

BTW, this offer is made only to all conference participants. If you’re just booking the hotel without the conference, you’re out of luck.

What a great way to ring in the New Year —
in the world’s most romantic city…
A dream come true —
And your dream to own a home in France
can come true, too.

Capitalize on this incredible opportunity now before it’s too late. And remember, reserve before December 10th and save even more!

For all the information and a link to the registration form, click here:
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/IIF_Paris/IIF_home.html

See you December 29th!…

Adrian Leeds

* Special Note: For a more comprehensive conference, plan to come to the capital of jazz and Creole cuisine, New Orleans, February 11 – 13, 2005 (just after Mardi Gras) for the Living and Investing in France Conference — three power-packed days covering all the ins and outs you need to make your dream to live and work in France come true. Details soon to be released, but to be put on a mailing list for more information, email
[email protected]/parlerparis

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Paris Property Report
By Schuyler Hoffman
Updated December 2, 2004

Part II
It really is a different world…

In Paris, indeed in France, there is no Multiple Listing Service — a system well known in the United States for easily finding property for sale all over the country. Most real estate agents here are independent, providing access only to the properties they represent. Even Century 21 offices may not work with other Century 21 offices. Consequently, you cannot walk into one agency and ask to see what is available throughout the city or even that particular area.

Real estate transactions require the involvement of a notaire, a legal representative of the government charged with administering the purchase and sale of property. Do not confuse a notaire with our idea of notary. They are not the same. A notaire is a specially trained and certified attorney. Hired by the seller and theoretically acting as an impartial administrator of the transaction, it is advisable to hire either your own notaire or other professional to represent your interests.

The recent SRU law made several changes to real estate codes, among them, mandating waiting periods before the transaction can move forward. Not the least of the differences here are the inheritance laws and inheritance taxes. In France, you cannot just leave your French property to whomever you wish… certain people are entitled to a share automatically. Your beneficiaries will be responsible for paying inheritance taxes, not your estate.

Before you buy…

There are a few things you need to be aware of and keep in mind if you’re interested in buying property in Paris. First of all, yes, you can buy property here as a foreigner. And, you can get financing here, as a foreigner, even “pre-qualification.”

Two of the most important things to consider before signing on the dotted line are France’s inheritance laws and taxes. The type of ownership you establish when you buy your property will determine how you can pass it on at the time of your death. Here, it is the beneficiary who pays the taxes on the property they inherit. This can be a low as 5% or as high as 60% depending on their relationship to the deceased.

And one very important caveat… if your “domicile” at your death is France, your assets worldwide will be subject to French inheritance taxes.

Finding property…

There are a number of resources to actually find an apartment or other property:

The Internet is full of websites listing properties for sale. Try a simple search using “Paris+apartments+sale” on Google.com, and see what you get.

Local publications such as Particulier à Particulier or the English language FUSAC are other good sources.

Notaires maintain a list of properties for sale in their area. You can make an appointment to stop in and see what they have available.

There are, of course, real estate agencies. Somewhat like cafés and tabacs, they seem to be everywhere. Again, they only represent what they have on their books, but they are a good resource for finding property. Just be aware that if you are interested in different areas, you will need to visit different agencies.

Another resource to consider, especially if you’re not local, is a property search service like that offered by Adrian Leeds Group, LLC (publishers of Parler Paris and French Property Insider) which can assist you in locating the property you want.

Found it, now what…

No matter what an agent tells you, try to negotiate the price of the property you want. In many instances you can get the owner to come down. Be aware, though, that right now it is a seller’s market here. If it is something you really want, don’t push to negotiate too hard, as there may be another buyer right behind you, probably willing to pay the asking price.

Part of negotiating well is knowing what the property is worth. Learn what the average property prices are for the city and the particular area of the city where the property is located. Know what the averages are per square meter. These will give you objective measurements to start your evaluation. On top of that, you have to consider all the subjective elements that make a property worth the price or not.

For many foreigners, the property prices here seem reasonable compared to other major world- class cities. When you walk into that charming pied-à-terre with wood floors, exposed beams in the ceiling and stone walls, it may seem worth every over-priced centime the owner wants for it. Even though the price of the apartment you’ve found may seem good, don’t pay more than you should. Leave it up to less informed foreigners to drive up the prices after you buy yours for less.

Editor’s Note: The complete 21-page Paris Property Report was updated today, December 2, 2004 and is ready in pdf format for download from the French Property Insider Web site by clicking on:
https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/parisreport.pdf
To access this password protected page:
The username is: fpisubscriber
The password is: paris1001

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SEEKING A MORTGAGE IN FRANCE?

Let us help you secure a mortgage in France with interest rates as low as 3.35%. Visit https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/loan for more information

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TODAY’S CURRENCY UPDATE

Live mid-market rates as of 2004.12.09 11:57:58 GMT.

1 U.S. Dollar equals 0.752895Euros (0.750575 Euros last week)
1 Euros equals 1.32821 U.S. Dollars (1.33231 Dollars last week)

1 U.K. Pound equals 1.44312 Euros (1.45118 Euros last week)
1 Euro equals 0.692945 U.K. Pounds (0.689093 Pounds last week)

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FOR SALE: FPI HOT PROPERTY OF THE WEEK

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 https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/propertyconsultation.html

* RESIDENCE SELUDIERNE
France, Britanny / Normandy, Landevant

Four Bedrooms or More
364m² to 364m² 362,000 Euros to 362,000 Euros

CLASSIC PROPERTY
Near the heart of Broceliande, otherwise known as King Arthur/Merlin country. Located just 15 minutes from the Atlantic Coast beaches, and yet hidden in the Briton countryside. Built on the site of the village chapel, re-using many of the old (very old) stones, set in a surrounding garden of 3000m2, and encompassed by a 3 hectare site. With handfuls of charm, tranquillity and Celtic surprises, this is an opportunity not to be missed.

Fantastic property circa 1700, consisting of 5 bedrooms, 2 bathrooms, lovely kitchen, comfortable sitting room, quaint study, and two cozy woodturning stoves. Modern conveniences include central heat, satellite TV, and broadband Internet, all nestled in 8 acres of gorgeous foliage and mature landscaping with extra house and two attached workshops, terraced BBQ area, and parking for 5 cars. A unique bonus is the bread oven with a mature oak tree growing on top, nearby well, and the ruins of the former chapel’s lavoir (public washing place).

A fantastic place to get away from it all, and yet be close to it all, being just 2.2km from the village center, 3km from the N24 and N165 motorways, and 1h45 from St Malo.

Main House – 216 m2
Second House – 91 m2
Adjoining Workshops – 57m2
The main village is only 2.2km away, and offers 3 banks, a supermarket, two restaurants, 4 bars, 2 schools, a post office, tabac, 2 bakeries, 2 garages, a multi-media center, and so much more. The house acts as an integral part of the village but at the same time proclaims its independence, enjoying the security of neighbors, with the benefit of seclusion.

Blavet River – 10 minutes
Auray – 12 minutes
Golf – 15 minutes
Thalassotherapy Center – 20 minutes
Carnac – 20 minutes
Cannes – 20 minutes
Erdeven – 25 minutes
Cote Savage – 35 minutes
Belle Isle – 35 minutes to ferry, 40 minutes crossing
Please note that the roofs need reworking. You’ll have noticed from the photos that at this point the roof has a bache — the work to re-new the roof has started but isn’t finished — hence the low price. There are approved plans for the re-roofing in water reed. We have official quotations for the completion of work @ £30,000.

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PARIS PROPERTY PICKS

* A THING OF ENVY

RESIDENCE PASSY PLAZA
France, Paris / Ile de France, 16ème Arrondissement
Studio
34m² to 40m²
302,000 Euros to 350,000 Euros

One Bedroom
54m² to 54m² 540,000 Euros to 540,000 Euros

Three Bedrooms
119m² to 119m²
1,100,000 Euros to 1,100,000 Euros
CLASSIC PROPERTY
In the heart of the exclusive Passy village, the residence Passy Plaza is the most luxurious and beautiful building on this famous rue of the same name. A perfect location in a high-class residential and commercial district, within the most desirable shopping distri
ct in the 16th. Offering a beautiful entrance hall and a vast reception lounge with 24 hour concièrge to meet your every need. Gorgeous private gardens, and sub-level parking. From La Muette to Trocadero runs rue de Passy and the true spirit of the 16th.

Four properties for sale :

1 studio on the 6th floor, 34 m2 with southwest facing balcony offering views of the garden, marble bathroom, fully equipped marble kitchen, and electric shutters
1 studio on the 2nd floor, 40m2 with street views, bathroom, fully equipped open kitchen, and electric shutters
2 rooms, on the 1st floor, 54 square meters with 30 sq terrace, vast lounge giving on the terrace, 1 bedroom, bathroom and fully equipped separate kitchen , electric shutters)
3 bedroom apartment on the 2nd floor, 119 m2 offering a vast lounge, 2 bathrooms, fully equipped separate kitchen, and electric shutters
Ambiance
Predominantly a high-class residential and commercial district, the sixteenth is Paris? western most arrondissement. Tourism is prevalent but as it is confined to the Trocadéro quarter and the Arc de Triomphe in the north, the sixteenth has a calm town rather than city feel. To the northeast is the business area of Kléber that continues towards the golden triangle in the eighth arrondissement. The western area of the 16th, with the Victor Hugo quarter and its chic high street, is very exclusive and residential. Further south is the buzzing commercial district of Passy, which in turn leads down avenue Mozart to the Auteuil district. Auteuil, quite apart from the rest of Paris, is a small market community giving a sense of the Provencal.

Apartments
The 16th is a very sought after area, particularly around the north of the district that has a very exclusive and chic feel and is home to some of the very wealthy. Apartments in the north are generally a mix of Haussmann and 1930?s architecture offing large, light apartments at a premium price. The south is more modest, and offers a range of traditional and more recent apartments. The outer edge of the 16th offers post 1930s apartments and the views of the park make many very desirable. The 16th western position makes it a favorite for the business community of La Défense, and its proximity to the huge Bois de Boulogne is a plus for families.

Rent Rating: *****
District Type: Residential Commercial
Tourism: Low
Apartments: Traditional
Population: Affluent
Transport: Good

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LEASEBACK NEWS
https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/sales/leasebacks/lb_list.php

PARIS HAUSSMAN
France, Paris / Ile de France, 8ème Arrondissement

Studios
27m² to 30m²
292,000 Euros to 332,000 Euros

One Bedroom
36m² to 37m²
429,000 Euros to 474,000 Euros

GUARANTEED RENTAL INCOME OF UP TO: 3.00%
In the heart of one of the most beautiful and elegant districts in Paris near the Champs Élysées, Monceau Park and the Saint-Lazare train station. Built in 1993, the Paris Haussmann is a property built in the distinctive Haussmann style: elegant stone facades, wrought-iron balconies, metallic frames and double glazing, and a zinc roof.

A seven story building composed of 53 upscale apartments (38 studios and 15 one bedrooms), luxuriously designed and decorated with the finest materials (such as marble) and furnished in a contemporary style. They also benefit from air conditioning, fully-equipped modern kitchen, elegantly fitted bathroom, safe, as well as the convenience of a private underground car park.

One of the most beautiful districts in Paris
Near the recently refurbished Saint-Lazare train station
Distinguished Haussmann-style architecture
In the heart of a luxurious district with beautiful boulevards, the residence lies in the Étoile-Monceau-Madeleine triangle, where delightful discoveries await: museums, luxury boutiques, top restaurants, world-renowned department stores.

PARIS, THE MOST BEAUTIFUL CITY IN THE WORLD

As the world’s most visited capital, with over 75 million tourists per year, Paris is the leading city for conventions and the capital of fashion and luxury, offering historic and cultural heritage as well as a reputation as a city of lights and shows.

THE PRESTIGIOUS EIGHTH

Rent Rating: *****
District Type: Residential Business Commercial Tourist
Tourism: High
Apartments: Modern Traditional
Population: Affluent
Transport: Excellent

The 8ème arrondissement itself is a business district with 200,000 employees, playing host to offices and professional centers, prestigious boutiques, the Palais de l’Élysées, American and British Embassies, head offices of numerous large enterprises and top law firms. A privileged district, the 8ème has over 40,000 residents boasting high quality Haussmann architecture. A highly sought-after district by foreign investors, it has the lowest number of residents in all of Paris.

The Saint-Phillipe du Roule neighborhood is defined by the Etoile Square, the place de la Concorde, and the newly-renovated Saint-Lazare station. A luxurious central district with museums, boutiques, department stores, restaurants, cinemas, theatres, and concert halls.

The eighth arrondissement has four distinct flavors:. The Triangle d’Or (the Golden Triangle, which is the area between the famous Champs Elysées and the Seine), the Champs Elysées itself and it’s immediate northern streets, the Monceau and St. Augustin district and that of St. Lazare. The Golden Triangle is the most prestigious area with the famous George V Hotel, the Grand and Petit Palais, and the boutiques of some of the chicest designer names. The Champs Elysées is a hive of tourism with its cafés, bars and galleries of boutiques, as are the
smaller streets along its northern side. Monceau is one of Paris’ most ornate parks and the area is much more residential and calm but as you head east, toward the area around St. Lazare station, it becomes slightly more ‘populaire’ as it leads to some of the better know Parisian department stores and the busy station.

Apartments vary considerably depending on the district. The more bourgeoisie and grandiose can be found in the Triangle d’Or, however, rents come at a premium especially in the François 1ère area which is the only calm pocket. The Champs Elysées district offers various styles of apartments but the traffic, tourism and narrow streets in this elite business area can give a slight sense of claustrophobia. Haussmann architecture around Monceau, as well as the larger tree lined avenues, provides the feeling of a quieter life. Apartments are on the larger side and slightly less expensive than the southern areas. Towards the east, in the Europe and Madeleine districts, apartments are still prestigious with a somewhat busier feel.

ACCESS

Métro: Lines 9 and 13, Miromesnil station
Rail: Saint-Lazare station, 10 minute walk

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PARLER PARIS APRES MIDI
NEXT MEETING:
Tuesday, December 14th, 2004 AND EVERY SECOND TUESDAY OF THE MONTH, 3 p.m. to 5 p.m.
This is your opportunity to meet every month, often with local
professionals who can answer your Working and Living in France questions. You are invited to come for drinks and share your questions and comments about what it takes to create a life here, own property and enjoy what France has to offer. It is also an opportunity to network with other Parler Paris readers.
LOCATION:
Upstairs at La Pierre du Marais
96, rue des Archives at the corner of rue de Bretagne, 75003 Paris
Métro Lines 9, 3 et 11, stations Temple, République or Arts et Métiers
For a detail description of the past meeting and for more information
about Parler Paris Après Midi, visit:
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apresmidi.html

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INSIDER PARIS GUIDES DISCOUNT FOR FPI SUBSCRIBERS

Don’t forget that with your FPI subscription you are entitled to a discount on the purchase of any Insider Paris Guides. You’ll find details of the guides at http://www.insiderparisguides.com/. When ordering, a box will pop up allowing you to enter the following username/password

Order more than one guide at a time and you will receive an additional discount!

Username: propertyinsider
Password: liveinfrance

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THINGS YOU NEED TO KNOW

– To access this password protected page:

The username is: fpisubscriber
The password is: paris1001

If your computer utilizes cookies, once you log into a subscriber only section, the login information will remain active for seven days, after which you will have to login again.

– Past issues of FPI are available on the website. You will find the “Past Issues”link on the left under “Subscribers Only”or by going to https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/pastissues/index.html

– To receive your free French Leaseback Report or the Paris Property Report, click on
https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/reports.html

======= CLASSIFIED ADVERTISING ======

==APARTMENT RENTAL==

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To start your search, contact Yolanda Robins at [email protected]

==APARTMENT RENTAL==

Leeds Marais Guest Room or Entire Two-Bedroom Apartment

Available February 4 – 16 in its entirety

Located in a 17th century Le Marais Hotel Particulier, this 70 square meter apartment two-bedroom apartment with lots of light is nicely furnished and is perfect for a single woman in the freshly renovated guest room when owner Adrian Leeds is in or for up to 4 people when she’s traveling.

Pictures and more details available here: https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apartments/rentals/leeds.html

==APARTMENT RENTALS==

For all short term rental apartments in Paris, take a look at https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apartments or https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/longterm.html for long term apartments.

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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/

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SUBSCRIBE TO PARLER PARIS

If you’re not a regular reader of the Parler Paris daily e-letter, and would like to be, simply enter your e-mail address here (it’s free!): http://www.adrianleeds.com/parlerparis

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Copyright 2004, Adrian Leeds Group, LLC