Good Friends, Good Vibes, Good Bones
View on rue Saint-Claude from the Harris Apartment
(FOR SUBSCRIBERS ONLY)
October 19, 2006
Bonjour French Property Insider Subscriber,
Sunday was the Expat community’s major event of the year — the second annual Expatica Welcome to France Fair. We were there…"bien sûr!" Today we report on the fair from both our perspective and that of the organizers…just in case you weren’t there!
For added value, the presentation I made regarding finding financing you will find here in its entirety. It’s the explanation made plain and simple that anyone starting out to buy property with a mortgage will need to know.
While visiting Ben and Angela Harris’ newly renovated apartment this week, I could see from their large windows all the way down rue Saint-Claude, more of the city’s reconstruction to widen the sidewalks and replace parking spots with trees. My first thoughts were how this would improve the value of the property — no doubt — as we will have a cleaner, healthier, prettier city, in which to live.
At this moment, the city is totally under reconstruction. It is "pedestrianizing" much of itself, enlarging sidewalks, adding trees, creating more "espaces verts" and in the process, making it almost impossible for traffic to circulate. If I had to depend on a car for my mode of transportation, I wouldn’t be so pleased, but as a pedestrian and supporter of public transportation, they can lay those pretty stones in their scalloped patterns just anywhere they like, as far as I’m concerned! Of course, this is the intention of our city planners — to create such a hell for drivers that they will park their cars forever, stop polluting the environment and making less noise, not to mention providing a better quality of life for all. And wherever these improvements have taken place, property values have increased.
Don’t miss the links to articles we found of interest for you…mostly about our friends across the Channel, the Britons. The properties on today’s agenda are in Le Marais, the hottest spot for new rental apartments. We conclude, those that rent the best and are most profitable, are either those that are very small or very large. So, we offer you both choices…
And now I’m off to a weekend in Strasbourg and neighboring Baden Baden for the famous baths. Next week, I’ll be reporting on our finds there!
Editor, French Property Insider
Email: [email protected]
P.S. If you’re headed this way for the Christmas and New Year holidays, I have two words of advice: 1) book your hotel or apartment NOW before it’s too late to find great accommodations and 2) register to attend the Living and Investing in France Real Estate Seminar on December 29th to learn all you need to know to make your dream to live in France come true. Scroll down for more information!
Volume IV, Issue 41, October 19, 2006
In this issue:
* FPI at the "Welcome to France" Fair
* Expatica Fair Survey — Win Moulin Rouge Tickets!
* Preparing to Purchase Your Dream Pied-à-terre
* Real Paris Renovation Story
* Brits Wish They Were French?
* Beware of the British Living in France
* On the Auction Block: October 24 and November 7, 2006
* Living and Investing in France One-Day Seminar December 29, 2006
* FPI Property Consultation, Search and Relocation Solutions
* French Property Consultation Concierge Services
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: November 14, 2006
* Hot Property Picks: Living Big — and Small — in Le Marais
* Leasebacks: Hotel du Golf, France, French Alps, Les Arcs 1800
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments – NEW! Les Arts et Métiers
Expatriates and Compatriots
Excerpt from Parler Paris…
By Adrian Leeds
From Monday, October 16, 2006
Sunday morning, Tamara Coleman and I loaded up the taxi with our gear and headed to the Carrousel du Louvre for the second annual Welcome to France fair sponsored by Expatica.com.
The fair took place in the space that is part of the extension of the reception area of the Louvre museum, at the hearth of an historic architectural area. "Unearthed by arch
eologists, the "Charles V complex"
reveals the city’s 14th-century ramparts. Conserved in their original position, these walls frame the vast hall now called the ‘Hall Charles V.’ It was these historical elements that dictated the general architectural approach, choice of materials (Burgundy stone, white architectural concrete) and imposing volumes of the Carrousel du Louvre." (http://www.ParisExpo.fr)
I’d venture a guess to say that the Expatica fair was virtually double over last year’s first fair — double the number of exhibitors and double the number of attendees. There were double the number of presentations made (in two different arenas), therefore double the information one could walk away with.
It was amazing to see so many Expatriates who spent most of their day there, going from one presentation to the other. In fact, for the price of admission, or if for those who were early-bird enough to get their free ticket in advance, the amount of knowledge one could gain from listening to the presentations alone was worth perhaps thousands of euros. We were lucky enough to have a stand on the edge of one of the speaker’s arenas and could tune in to Olivier Magny’s Wine Tasting presentation (plus partake of a glass of wine!) or to Marguerite Foucher’s demonstration of Hands-On French Cooking.
In another space were more serious presentations — about immigration, tax, property, business and more. John Howell of the International Law Partnership and co-sponsor of the Living and Investing in France Conferences and Seminars, spoke about setting up the structure of your real estate purchase to minimize French inheritance tax. I followed by explaining how to get financing for your dream home in France. (Scroll down to see the presentation!)
We saw lots of old friends and made many new friends. For both the attendees and exhibitors, it was a perfect opportunity to get to know the community and all the resources open to it. One thing for sure…the community is large, strong and growing, evident by the response to this new venue for exchange. Expatica, we applaud you.
Expatica’s "Welcome to France Fair" an enormous success!
Expatica would like to thank all those who participated for making our second annual Welcome to France Fair an enormous success.
We were once again overwhelmed by the response from the English-speaking expat community in France, and thrilled to announce that this year’s event attracted over 80 exhibitors, 20 seminars, and 4,000 attendees!
We hope the day was equally successful for attendees, and resulted in valuable contacts with the expatriate community, service providers, groups, clubs and associations.
We are already eagerly anticipating next year’s edition and hope to build on the strengths of this year’s event, while expanding the number of exhibitors, seminars, and conferences.
If you were one of the thousands who attend the fair, we want to hear from you! Did you enjoy the Fair? Did you find it valuable? Did you have fun? What did you like (or possibly dislike)?
Now’s your chance to tell us what you think! And by doing so, you will be automatically entered into a draw for some great prizes (including 2 VIP tickets to the Moulin Rouge) simply by taking our 5 minute follow up survey on the Fair.
To access the survey please click here:
Your feedback is very important to us and will help us improve the fair for next year. After all, this is your fair!
Thanks again for your input and for making it a great day!
The Expatica Team
How to get ready to find your dream home in France…
A PowerPoint Presentation by Adrian Leeds
Presented at the Expatica Welcome to France Fair October 15, 2006
Who are the lenders?
Many lending institutions in France now specialize in mortgages designed specifically for non-residents. French Property Insider Consultants can assist you free of charge with applications to any of these six lenders: BPI, UCB-IB, Crédit Foncier, GE Money Bank, Barclays Bank and HSBC
What qualifies you for a loan?
1. Income. Loans are income based. You may borrow up to 1/3 of your disposable income. Rental revenue may be considered as income. Property Divisions of Adrian Leeds Group, LLC FrenchPropertyInsider.com adrianleeds.com/frenchproperty/consultation What qualifies you for a loan?
Consumer debt (credit card balances), taxes and insurance premiums ARE NOT deducted from disposable income. Car payments, other mortgages and other debts ARE deducted from disposable income.
The term of the mortgage may not exceed approximately 70 years of your age. This is directly tied to a mandatory life insurance policy which secures the loan.
Why is life insurance mandatory?
It is national law that requires all property to be secured by a life insurance policy so in the event of the borrower’s death, the property is free and clear for inheritance purposes.
What if I already hold a life insurance policy?
The policy must apply specifically to the mortgaged property. Normally, the policy is provided by the lender
associated insurance company. The borrower must complete a medical questionnaire and often undergo an exam to qualify for the insurance and therefore the loan.
How much can I borrow?
Traditionally up to 80% of the purchase price of the property, sometimes up to 90%.
Will the mortgage cover Notaire fees?
Will the mortgage cover agency fees?
Yes, as long as the fees are included in the purchase price of the property. Property Divisions of Adrian Leeds Group, LLC
Will the mortgage cover renovation?
Yes, under conditions: the lender will provide up to 80% (or in some cases 90%) of the appraised value of the property including the renovation costs.
What types of loans are available?
1. Fixed rate 2. Variable 3. Interest Only 4. Combination Loans
Do all lenders offer the same products?
No, each lender offers a variety of different products.
What are the current interest rates?
Euribor (the money market reference rates for the euro) plus margin: 3-month Euribor Oct. 12: 3.494% 12-month Euribor Oct. 12: 3.812%
Can I get pre-approved?
Lenders will accept applications prior to purchase of a property, but will provide a “pre-approval in principle” only, estimating the applicant’s borrowing power.
We highly recommend understanding your borrowing power BEFORE visiting properties which may not meet the lending capacity.
Who is held responsible for repayment?
Those on the title deed of the property are held responsible for repayment of the mortgage.
How do I may repayments?
Your payments will be automatically deducted from your French bank account.
Can I deduct the interest portion of the loan on my U.S. tax return?
Yes! We recommend you consult your accountant or tax attorney for advice. Property Divisions of Adrian Leeds Group, LLC
How do I get started?
Contact French Property Insider Consultation:
Good Vibes, Good Bones in
By Adrian Leeds
You may remember from our September 7th issue of FPI a story about a soon-to-be married couple named Ben and Angela whose new 100 square meter apartment in Le Marais will be the subject of an upcoming House Hunters TV episode. (http://adrianleeds.com/frenchproperty/insider)
When we first showed the 17th-century apartment facing the Eglise Saint-Denys du Saint-Sacrement on rue de Turenne in the 3rd arrondissement, we all immediately sensed "good vibes" from the sprawling space, even though it hadn’t been touched in 30 years. Clearly there was lots to do and could be done to make the space more efficient, bringing into today’s lifestyle, but the apartment had what we call "good bones."
The dining room, living room and two bedrooms face the street with a view of the church and rue Saint-Claude. The one bathroom had a window overlooking a "courette" and large closets were positioned at the back of the apartment. At one time, the apartment had been comprised of two smaller units, each in a different building (!) and therefore there are a few steps that lead up to the sleeping/living space on a higher level from the reception rooms.
Immediately after the purchase, Ben and Angela hired architect Derek Bush (http://www.bush-architecture.com /) to redesign the space and give it a major face-lift. They found the perfect nook for the washer dryer in an unused space behind the entry door, added doors with frosted glass panels to let in the light from the window into the hall. The wall between the separate kitchen and dining room was taken down to a half-wall, opening the two rooms into one large space with an open "American" style kitchen. The large closets at the back became two new bathrooms, while the original bathroom amazingly became a third bedroom with two windows, just by narrowing the hall, making better use of the space already there.
Cabinetry was added throughout. Molding was placed to fit comfortably with the original style of the apartment with its French doors and parquet flooring. Angela took charge of the decorating and chose the finest brands of French paints offering rich, warm, luscious colors. She chose an ivory for the main rooms, a pale blue for one of the bedrooms and a pale mauve for another. Furnishings came from Roc
ois and some of the other fine furniture shops.
While some of the light fixtures have yet to be placed, nor drapes to be hung, the character of the apartment is already solidly in place, without one shred of the original "good vibes" lost in the translation.
Ben and Angela, now married and settling into their lives together, foresee that with all the traveling they do for business, the apartment could potentially rent as a luxury standard sometime in the future and will furnish it accordingly. For now, it’s where they both live and work and love.
Britons Want to be French
October 16, 2006
By Jane Anson
Britons might be drinking increasingly more American than French wine, but it turns out that we’d still rather be French.
A survey published last week found just over half of Britons under 50 would retain their British passport, 32% would like to stay British, but live in France – and 22% would rather have been born there in the first place…
To read the entire article, visit the following link:
The French Mistress: Beware of Smug Expats
Helena Frith Powell
For The Times Online
Mixing with the French will be the least of your worries — it’s the Brits you will have to watch.
If you are thinking of buying a property in France you are probably worrying about how to deal with the French bureaucracy, the language and even the French themselves. All of these pale in comparison, however, when treading the dangerous path of dealing with the British already installed in the country…
To read the entire article, visit the following link: http://property.timesonline.co.uk/article/0,,14052-2399931,00.html
Next sessions: October 24 and November 7, 2006, 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 website 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:
October 24, 2006
|2 rooms 32,50 m²
40 rue Monge
75005 PARIS 5th
Opening Bid: 160,000 €
Deposit: 32,000 €
|3 rooms 59,50 m² rented
28 rue d’Enghien
75010 PARIS 10th
Opening Bid: 96,000 €
Deposit: 19,200 €
November 7, 2006
|6 rooms, 194.5 m²
28 rue de Ponthieu
Opening Bid: 950,000 €
Deposit: 190,000 €
Adrian Leeds, Parler Paris, French Property Insider and John Howell & Co. of International Law Partnership Present the…
Living and Investing in France
Real Estate Seminar
December 29, 2006
Chez Jenny, Paris, France
If you’ve always dreamed of moving to France, starting a new life in Paris, enjoying a "pied-à-terre" of your own part of the year or perhaps investing in property in France, this power-packed seminar is a MUST. Hosted by Adrian Leeds, Editor of the Parler Paris Nouvellettre® and French Property Insider weekly e-zine and John Howell, lead attorney for John Howell & Co., International Law Partnership, London, this one day in Paris will put you on the right footing to make it happen!
You will learn how to…
* Why Invest in Property in France?
* Find Your Dream
Apartment in Paris or Home in the Country!
* Buy and Own Propert
y in France!
* Benefit from the Best Offshore Banking in the World!
* How to Obtain a Mortgage!
* Reduce Your Currency Exchange Risk!
* How to Minimize Your Tax and Maximize the Benefits!
* Rent Your French Property for Profit!
* Plus, answer all the rest of your questions during a Q and A panel with the presenters.
The Seminar Location
Historical Chez Jenny
39 boulevard du Temple
Place de la République
"An authentic Brasserie with a soul, a style and a history."
At the colonial exhibition in 1930, Robert Jenny had a kiosk where he sold produce from his region: salt-pickled cabbage choucroute, sausages and beer. Appreciating Parisian life and noting that the fine Alsatian products attracted the Parisians, this native of Strasbourg sought to set up business in the capital. He found just the right place not far from the place de la République, at number 39 boulevard du Temple. This was the hall where the former Victor ball was held. The quarter was lively, even though it no longer deserved the reputation of «Crime Boulevard» that it had had in the 18th century, when the plays billed at the many theatres in the area mainly drew inspiration from the items in the news.
The seminar includes a three-course lunch with Kir, wine and coffee!
Menu (subject to change):
* Kir Vin Blanc à l’Edelzwicker d’Alsace and Bretzels
* Terrine de Canard aux Pistaches, Chutney de Fruits Secs
* Suprême de Volaille à la Moutarde, Nid d’Alsace aux Légumes or Onglet de Veau à l’Echalote, Gratin Dauphinois
* Crème Brûlée Caramélisée à la Cassonade
* Wine or Mineral Water, Coffee
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
NEW! Concierge Services
French Property Insider Consultation now offers a range of Concierge Services. You can trust our team of professionals to help you take care of your Paris property investment when you’re not in France. http://www.adrianleeds.com/frenchproperty/consultation/concierge.html
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
November 14, 2006 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.
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
HOT PROPERTY PICKS: Living Big — and Small — in Le Marais
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, 3rd Arrondissement, 4 rooms, approx. 104m²
Enjoy this beautiful view with triple exposure, on the third floor of a Haussmannian building with elevator and gardien. With 2 bedrooms, bathroom, shower room, toilet, cellar. Features include hardwood floors and moldings.
Asking Price: 863,000 € + 2.5% Finder’s Fee
*** Paris, 3rd Arrondissement, 3 rooms, approx. 83m²
On rue Froissart in a building with elevator. This apartment has been renovated and is in perfect. Living room with fireplace, 2 bedrooms, bathrooms, toilet, cellar.
Asking Price: 650,000 € + 2.5% Finder’s Fee
*** Paris, 3rd Arrondissement, Studio, approx. 35m²
In the heart of the Marais, this lovely apartment offers a main living room with balcony facing south, bedroom, fully equipped kitchen, bathroom and cave. Parking is possible. A real coup de coeur!
Asking Price: 285,000 € + 2.5% Finder’s Fee
*** Paris, 3rd Arrondissement, Studio, approx. 18m²
Near Beaubourg in a hotel particulier. Renovated studio is being sold with equipment. Ideal for a seasonal investment.
Asking Price: 180,000 € + 2.5% Finder’s Fee
LEASEBACK NEWS FROM IMOINVEST
HOTEL DU GOLF
France, French Alps, Les Arcs 1800
Studio 20m² to 21m² €95,000 to €130,000
One Bedroom 28m² to 41m² €162,000 to €294,000
GUARANTEED RENTAL INCOME UP TO: 4.50%
SKI IN/SKI OUT NEXT TO 18-HOLE GOLF COURSE
Alpine ski resort with 4 star facilities including swimming pool, saunas, Jacuzzis and fabulous views over the Mont Blanc mountain range! Les Arcs 1800 comprises four charming villages: Charvet, Chantel, Villards and Charmettoger with Mont Blanc as the focal point. Nestled within the Paradiski domain, this world renowned ski and sports resort offers over 583km of ski runs, 3 glaciers, 2 peaks reaching over 3000m and 5 snow parks. The Vanoise Express is a unique high-tech cable car able to transport 2,000 people per hour in each direction. This pedestrian resort offers convenience, friendly arcades, shops, lively b
ars and restaurants, and incredi
bly easy access to either altitude skiing in the Arc 2000 bowl or long, tree lined red and blue runs down to the unspoilt hamlet of Peisey Nancroix. Les Arcs 1800 is serviced by airports in Geneva, Lyon and Chambery.
The Arcs 1800 resort is on the edge of a superb forest in the centre of the village Charvet at the foot of the slopes. Built on the mountainside, on 8 levels, the Hotel du Golf comprises 273 rooms, with 7 suites and 18 adjoining rooms. The surrounding area offers rambling paths, new winter sports and relaxation areas. The resort offers three restaurants, a piano-bar with fireplace, fitness centre with Jacuzzi, sauna, fitness room and care centre. In addition, the residence is close to an 18-hole golf course!
For skiers and investors this is a new concept in alpine living. The Hotel du Golf is a private residence with all the high quality, luxury hotel and spa facilities you can desire. This is a pure investment project with no private usage options. Capital gains potential is very high and rental income is guaranteed at 4.5% net per annum for a minimum of 9 years.
SEEKING A MORTGAGE IN FRANCE?
Managing Your French Property Insider Subscription is Easy!
We receive many emails from French Property Insider Subscribers who want to change their email address, or update personal information. But did you know that you can make these changes yourself?
2. Click on "Manage Subscription." You’ll find it under the "Subscribers Only" section in the sidebar.
3. Enter your username and password.
4. On the Welcome Page, go to "Manage Your Account" and click on "Change Password/Edit Profile"
5. Once you’ve made the changes, scroll down to the bottom of the page and click on "Save Profile."
Of course, we’re always happy to help, so if you do need assistance, send an email to [email protected]
Remember, as an FPI Subscriber you can take advantage of a special discount on the popular Insider Paris Guides, plus get an extra 15% discount when ordering two or more guides. Choose from:
* Leeds Good Value Guide to Paris Restaurants by Adrian Leeds
* Insider Guide to Practical Answers for Living in France by Jean Taquet
* Writers Insider Guide to Paris by Elizabeth Reichart
* Insider Guide to Black Paris by Melinda Herron
Just visit http://www.insiderparisguides.com. When you order, a box will pop up allowing you to enter the special FPI Subscribers discount code:
You’ll receive download instructions, then just save the guides to your computer. Happy reading!
THINGS YOU NEED TO KNOW
To access password protected pages: click on any of the links on the left panel of the home page of FrenchPropertyInsider.com under "Subscriber’s Only," then type in your personal username and password.
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
To receive your free French Leaseback Report or the Paris Property
Report, click on
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 ap
proval" 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 their best for your 100% guaranteed satisfaction.
* "Les Arts et Métiers" Spacious One-Bedroom Apartment: Now Available!
Sleeps 4, on Rue Bailly, 3rd Arrondissement
Architecturally designed and very cozy, this spacious one-bedroom apartment is situated in the heart of Paris on a tiny L-shaped street just facing the Métro entrance for Arts et Métiers and the Musée and Conservatoire des Arts et Métiers on rue Bailly.
Pictures and more details available here: http://www.adrianleeds.com/parlerparis/apartments/rentals/artsetmetiers.html
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
Copyright 2006, Adrian Leeds®
Adrian Leeds Group, LLC, http://www.adrianleeds.com