In Cannes You Can and Nice is Nice
Glorious Riviera View
(FOR SUBSCRIBERS ONLY)
May 22, 2008
Bonjour French Property Insider Subscriber,
With the Cannes Film Festival underway, we turn our focus on the Côte d’Azur and Riviera, the world’s chicest seashore. These destinations are frequented by the rich and famous, the international jet setters and every day people like you and me, making it one of the most secure property investments one can make while enjoying all it has to offer.
Since the recent New York Times article about Fractional Ownership appeared, our phones and emails have gone haywire from you readers who see it as the hottest way to own a piece of the Paris ‘pie’ — and other ‘pies’ our developers have to offer. Be sure to see the full listing in today’s newsletter including apartments in Paris, a château outside of Paris, village houses in the Languedoc-Roussillon region and an apartment in Old Nice on the Cours Saleya. The choice couldn’t be finer!
The rich and famous continue to flee France as the Wealth Tax increases to a base line of 770,000€, but don’t worry. You won’t pay anything on the first 770,000€ and if you take a mortgage, the principal is non-taxable. Plus, all in all, it’s a bargain compared to U.S. annual property taxes which can be as high as 3.5% of the assessed value of the property! Yikes!
I was interviewed today by the Nouvel Observateur about Fractional Ownership and they wanted to know if Paris prices are holding up while other markets are feeling the economic crunch. The answer is YES! We’ve seen no let up of prices steadily increasing and the lack of good properties on the market means the good ones go fast — in the blink of an eye. So, if you’re considering, making a purchase in Paris, then waiting for the rate of exchange to improve is simply costing you money as prices rise while the rate doesn’t seem to be doing much of anything but weakening.
Sad, but true. An investment in the euro is a great way to diversify your portfolio and hedge your bets against a possibly bleak financial future Stateside.
Editor, French Property Insider
Email: [email protected]
P.S. We’re planning our next three Living and Investing in France Real Estate Conferences, so don’t miss attending at least one of them to get the full scoop on property in France!…See http://adrianleeds.com/frenchproperty/conference/ for more information.
Volume VI, Issue 21, May 22, 2008
* Wealth Tax Driving Rich Out of France
* The Attractive French Riviera: Cannes and Nice
* Nice Back on Track
* The Neighborly Thing to do in le Marais on May 27
* Your Piece of the Paris Pie
* Design Your Own Fractional Property in Paris
* French Housing Market Holds Steady
* "Barbies" in France
* 10 Reasons to Invest in France
* Upcoming Living and Investing in France Real Estate Conferences
* French Property Consultation on House Hunters International – New Dates!
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: June 10, 2008
* Hot Property Picks: Riviera Living in Cannes and Nice
* On the Auction Block: May 27 and June 3, 2008
* Leasebacks: Antibes les Pins Residence, France, Mediterranean Coast, Antibes
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — La Terrasse du Temple!
Rich Continue to Flee French Wealth Tax
Agence France Press, Le Figaro as Reported by Expatica.com
The number of taxpayers escaping wealth tax increased to 843 in 2006 – 200 higher than the previous year, reports Le Figaro.
May 20, 2008
PARIS – The exodus of the well-heeled seeking to escape France’s wealth tax picked up in 2006, with 843 taxpayers holding an estimated EUR 2.8 billion in assets leaving the country, Le Figaro reported Tuesday.
The figure was around 200 higher than in 2005, the daily reported
citing the French Se
nate’s budget point man, Philippe Marini.
The tax is a levy on assets above EUR 770,000 rather than on income, and has forced numerous well-off to take up residency in other countries, such as French rock icon Johnny Hallyday.
Marini suggested raising the minimum threshold to EUR 1 million.
"We have a need for well-off people in our country to invest, create jobs, wealth and finally to pay taxes," said the lawmaker.
As land values rise the tax has also become a bane to many property owners who find that they must pay the tax, known as the ISF, even though their income is modest.
Rate of Wealth Tax in France for 2008:
|Fraction Taxable||Rate of Tax|
|Up to €770,000||0%|
|€770,000 – €1,240,000||0.55%|
|€1,240,000 – €2,450,000||0.75%|
|€2,450,000 – €3,850,000||1.00%|
|€3,850,000 – €7,360,000||1.30%|
|€7,360,000 – €16,020,000||1.65%|
Note that the tax is calculated on amounts over the €770,000 threshold, so if you owned net assets valued at €1,000,000 the tax would apply only on €230,000 at the rate of .55%, as the first €770,000 has a zero rating.
In Cannes You Can and Nice is Nice
By Adrian Leeds
The Cannes Film Festival founded in 1946, is one of the world’s oldest, most influential and prestigious film festivals alongside Venice and Berlin. The private festival is held annually in the month of May at the Palais des Festivals et des Congrès, in the resort town of Cannes. This year was the 61st festival held May 14th to 25th.
The Festival’s budget amounts to approximately 20 million euros, half of which originates from public funding via the National Cinema Centre (CNC) under the authority of the Ministry of Culture, the City of Cannes and other local authorities. This financing is completed by contributions from a number of professional and institutional groups along with the Festival’s Official partners.
The attendance to the festival is approximately 30,000 plus 4,500 media types. And they all need accommodations! Rentals during this period command exorbitant rates, particularly of the luxury level apartments.
Properties range from just under 100,000€ to in the millions of euros, depending on your budget and taste, but can result in a profitable investment if chosen wisely.
Nice is even nicer now that the new tramway is up and running! And Nice has a longer rental season than Cannes. Located between Monaco and Cannes, it’s the perfect middle ground for a Côte d’Azur get-away, with an international airport, main rail line between Italy and the rest of France, Corsican ferry service and extensive bus routes within the town and to outlying towns and villages.
An investment in a Nice apartment will show rental results most of the year, particularly in Old Nice or apartments with views of the Mediterranean. Old Nice offers historic properties which will hold their value well, but may not provide the seaside atmosphere you’re looking for. Still, staying in Old Nice means everything is at your fingertips with less need for a car — unless you love the hill towns for exploration.
All of the Côte d’Azur attracts an international visitor, particularly the Americans, British and Italians as one of the world’s chicest destinations.
Property in France: Nice Gets Back on Track
By Zoe Dare Hall
After years of disruption, the Riviera city is more accessible than ever, writes Zoe Dare Hall
As the Côte d’Azur enjoys its annual dose of high-octane glamour, with the Cannes Film Festival and the Monaco Grand Prix reaching their star-studded finales on May 25, Nice has particular reason to celebrate.
Grab your Côte: Nice has opened up for prospective property buyers
After three years of disruption, the new tram system – which carries 60,000 passengers a day for a flat fare of €1 – has given downtown Nice an overhaul and opened up northern areas of the city that were previously out on a limb.
The proliferation of flights from the UK, including recently launched routes from London City Airport and numerous low-cost options from regional airports, have also helped to make Nice, the most visited city in France outside of Paris, more accessible than ever.
"For three years the city was cut in two by building work, and tourism numbers were severely down, but now they’ve handed us back a beautiful, tidy city," says Boz Gill, the Nice-based agent for French specialist VEF.
"The tram has had a huge effect. The further inland you head from the Med, the lower the prices, so Nice is now more affordable to the average buyer. In areas such as Libération or around Avenue Georges V there are lovely old buildings, but they were always considered too much of a trek up the hill from the Centre.
ill points out that Nice is "still the cheapest place to live on the Riviera". The average price of property in Nice is £2,723 per square meter, compared with £4,070 in Cannes, according to La Vie Immobilière estate agent.
"Nice is a working city of 400,000 people," says Gill. "It has an Italian influence – but better organized than any Italian city – and it still attracts the English market, although Russian buyers also invest a lot here."
She is selling one of the city’s finest examples of Belle Époque architecture: a two-bedroom apartment for £1.09 million on Boulevard Victor Hugo. Its opulent rooms were once the party area of a large family house.
But properties needn’t be so lavish to exude classic Niçois charm. Kate Cowie paid £142,000 for a one-bedroom apartment in a 17th-century building in the old town. It has turned out to be a solid rental investment as well as an easy weekend escape, just four hours door-to-door from her home in Liverpool.
"I was on holiday in Nice last summer and looked at some properties for sale," says Kate, 39, who runs Utility, a furniture and design store in Liverpool and Preston.
"It was all very spontaneous. I couldn’t believe how high-spec the interiors were in such a beautiful old building.
"The buying process was quick and straightforward. I left my mate on the beach while I went to sign the paperwork, and we flew home that night.
"As soon as I arrive in Nice, I head to the Promenade des Anglais and the fruit and flower market in the old town, and sit at pavement cafés in the sun. The rental potential in the south of France is also great. Riviera Pebbles manages and markets my flat for up to £480 a week and I’m delighted with the level of bookings. I wouldn’t hesitate to buy there again as an investment."
As you would expect in a seaside city whose celebrity homes include Sir Elton John’s mansion on Mont Boron, a sea view carries a premium. Around Casino Ruhl, prices can hit £7,700 per square meter, says Claire Healy, from Attika International.
"But further along the promenade towards the airport, still only a 15-minute bike ride into town, you can pick up properties for less than £4,000 per square meter."
Nice sits on one of the most desirable property strips in Europe, but prices remain reasonable compared with the rest of the Riviera because of the high supply and turnover of property, says Healy.
"Even the expensive areas around the Carré d’Or, Quartier des Musiciens and the port are much cheaper than the best spots in Cannes, where there is far less available," she says.
"You can still pick up a well-located studio needing renovation in the old town for £75,000. The roads around the station also offer good value for money and the grand period residences in northern Nice make great holiday homes."
The tram, she says, has been a catalyst. "Areas that were previously forgotten about have shot up in price. With further tram lines planned in the next five years, even more outlying areas will benefit from the Nice effect."
"La Fête des Voisins" in the 3rd Arrondissement!
Residents of the 3rd Arrondissement are gathering to celebrate the Festival of Neighbors this coming May 27th in the 9th edition sponsored by the City Hall of the 3rd district. Everyone is welcome to come get balloons, posters, invitations and T-shirts, compliments of the City Hall and then to organize a cocktail hour and possibly a pot luck dinner with your neighbors!
For more information, contact Sandrine Pereirinha at 01.53.01.75.04
Getting a Piece of the Paris Pie (And Points Beyond) Fractionally Free
By Adrian Leeds
Now’s your chance to get a piece of the Paris pie and few other pies, I might add.
Every since Steve Navaro of Paris Home Shares offered up a fraction of his Marais two-bedroom luxury apartment, "Le Jardin Saint-Paul" at a special savings to Parler Paris readers…
And ever since Linda Hervieux’s article "In Paris, Owning an Eleventh of an Apartment" ran in the New York Times (May 14th — http://www.nytimes.com), emails have been flying in and the phones are ringing off their hooks. Fractional ownership is the "newest and hottest way to own your own piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself."
Le Jardin Saint-Paul sold out thanks to all this publicity, but being the good guy he is, Steve Navaro is willing to extend the FREE STAY offer to our readers who purchase in his third fractional venture, "Chez La Tour" and on the one share he has left at "Villa Monceau."
Chez La Tour is his most elegant offering to date, located in the heart of the chic 7th arrondissement, just one block from the Esplanade des Invalides, a few minutes by foot from the famous shopping street (that Rick Steves LOVES), rue Cler
nd so close to the Eiffel Tower you feel you could almost touch it. This spacious two-bedroom, 88 square-meter apartment redefines the word ‘luxurious’ in Paris.
The classic French apartment occupies the entire first floor above street level in a "petit" Haussmannian style "pierre-de-taille" building, just 100 meters from the Métro station "La Tour Maubourg," and just around the corner from the fashionable rue Saint-Dominique with its many shops, cafés, and famous restaurants. The Seine is two minutes away by foot. The location is pure heaven.
Steve and his crew are currently reconfiguring the layout of this apartment to better utilize the space, to create larger bedrooms, each with their own bathroom.
Five shares remain: November, December, January, March and August. The current price is 109,900€ per share (one of 12), but if you wait till after June 30th, the price will escalate to 115,000€.
If you purchase a share (or two!) NOW, as a reader of Parler Paris or French Property Insider, you will save between 1,300€ and 1,500€ of annual dues, because Steve is going to pay it for you! That’s virtually like making your first stay there absolutely free!!
You can visit Chez La Tour at our Web site:
http://www.adrianleeds.com/frenchproperty/consultation/sales/fractional/chezlatour.html or reserve your share now by emailing him at [email protected]
Chez La Tour isn’t the only offering Steve is making to you readers, either! All this time, he’s been holding on to one share of his first Paris apartment project, the lovely one-bedroom 58 square-meter apartment named "Villa Monceau."
Appropriately named due to its close proximity to both Parc Monceau and the Arc de Triomphe, it’s on the 3rd floor (European, 4th U.S.) in an immaculately maintained "pierre-de-taille" building that underwent extensive renovation to bring it up to the luxurious standards of all Paris Home Shares properties.
That one share Steve is holding on to is up for grabs at the smaller price of 76,000€ and because he’s already paid the dues of 890€, your dues wouldn’t be due until 2009 for the next available usage month of July 2009!
Always be sure to tell Steve that Adrian sent you to be sure you get the FREE STAY offering!
Paris Home Shares are not the only properties in the Paris pie up for the taking. There is still one share left of the one-bedroom "pied-à-terre" on the Quai de Bourbon on the Ile Saint-Louis!
You could be the proud owner of own one portion out of only four portions of a 42 square-meter (475 square feet) loft on the romantic Ile Saint-Louis for 100,000€!
Located on the Quai de Bourbon, in the heart of Paris and on Paris’ chicest island, this bright, quiet and charming penthouse apartment has a fireplace, mezzanine with 18th-century exposed wood beam ceiling, skylight, is fully furnished and equipped with a separate kitchen and spacious bathroom. You will lavish in its old-world charm and gently hear the bells of Notre Dame chime in the background, while enjoying the benefits of your investment.
This offering is made by an individual who has rented the apartment for years and has a special opportunity to purchase the property, sharing it with a select group of four other owners. Three are already committed. With only one share left, this is an opportunity you won’t want to miss if you have even the slightest desire to own your own pied-à-terre in Paris and make an important investment in the strong and getting stronger euro.
To learn more or reserve your share before this one flies out the door, contact the organizer at [email protected] for more information and be sure to tell her Adrian sent you.
So, let’s say an apartment in Paris is not your ‘thing,’ because you dream more of life in a château. Don’t despair, we can fix that, too!
Château Living France is a luxury château estate offering close to Paris proximity, one-eighth ownership, in a spacious, light and charming villa with three well appointed bedrooms, two-and-one-half bathrooms, Jacuzzi with Zen, toning or light programs, Canadian red cedar sauna, sound therapy, steam room and two large showers.
Already, I can see your head spinning. But there’s more. It has a huge hand carved fireplace, contemporary furniture, art and antiques, a designer kitchen with bar, well-equipped kitchen, and all the electronic goodies, such as a large flat screen TV, DVD and WiFi. A terrace in the gardens is furnished with Jardin de Bagatelle furniture and a terrace in the wind-free cobbled courtyard has plantage teak furniture. A barbeque, sunbrellas, tennis rackets and beach chairs, crisp white bed linens and soft large towels are all there for your convenience.
There are two shares remaining for 120,000€ each. Each deeded share offers 6.5 weeks of private use. All costs are shared equally among the villa proprietors and are currently only 100€ per month.
To learn more visit
http://www.adrianleeds.com/frenchproperty/fractional/chateau-living.html and to reserve your share, contact [email protected]
Going south is easy as Nice is nice, "n’est-ce pas?" This newest offering isn’t even on our site yet, it’s so fresh out of the can. Here’s your chance to own three-quarters of a luxurious Riviera one-bedroom 67 square-meter apartment located directly on the famous and prestigious Cours Saleya in old Nice!
It’s spacious, sun-drenched, was recently renovated with wide plank wood floors, a huge fireplace and sits directly across from the Mediterranean with incredible panoramic sea views from every room.
Apartments in this building are so sought after they almost never go on sale! Nice is ideally situated midway between Monaco and Cannes and is only 15 minutes from the Nice International Airport. Plus, there is a daily 7-hour flight from JFK Airport in New York directly to Nice. How nice is that?
For more details and pricing information, contact [email protected]
Head west to the Languedoc Rousillon, Ginny Blackwell of French Property Shares is offering "La Maison Bleue."
This gorgeous three-bedroom home with an outdoor terrace and only 30 minutes from Mediterranean beaches is everything you’ve ever looked for in a house in the South of France! The house is furnished with a combination of French antiques, wicker and pine furniture, firm beds, unique lighting, fully equipped kitchen and many decorative items. It also includes Satellite TV, telephone, washer and dryer and all dishware and linens.
A share price is only 52,500€ for the first four shares with a total of 10 shares offering 5+ weeks of usage per share are available. What a perfect way to spend your vacation times in France!
To learn more visit http://www.adrianleeds.com/frenchproperty/fractional/maisonbleue.html or email Ginny directly at [email protected]
With no shortage of pieces of the Paris pie and points beyond for you to own at a fraction of the cost, don’t hesitate to make this smart investment in your future in France.
Design Your Own Fractional Ownership Property
With "French Property Fractional"
by Adrian Leeds
Fractional ownership may be a hot concept!…but we’re making it even hotter!
A new division of the Adrian Leeds Group, LLC, "French Property Fractional" is the newest and hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself.
What’s Fractional Ownership?
A hybrid of direct ownership and time sharing, it combines the best elements of both. The primary differences are that while timeshares involve many shares in a large complex with “resort” amenities and costs built specifically for that purpose, fractional ownership is joint ownership by only a few individuals in a single property whose value can easily be determined on the open market.
Most Paris fractional property opportunities are properties that have been purchased, renovated and decorated by one developer who then sells off the shares. Most of these offerings sell six to twelve shares to minimize the investment amount while maximizing the size, location and quality of the apartment.
What’s new about "designing your own" property?
While this system works well for many investors, we found that there are large numbers of individuals who would like to combine the benefits of traditional fractional ownership with single-party ownership, enjoying more time to personally use the property, having more decision-making power about the property, more input and more control. We believe that YOU want to feel like the property is really YOURS — and it is!! So, why not have a more personal relationship with the property.
Here’s how French Property Fractional works:
FIRST, WE OFFER A "CONCEPT"
Our team is offering a property CONCEPT…to search and find the following property to be shared between only a very small group of owners — four to six:
"MY PIED-A-TERRE IN LE MARAIS"
SIZE: 35 to 45 square meters (377 to 485 square feet)
ROOMS: two rooms — one bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen
LOCATION: Le Marais, districts 3 or 4
LEVEL: No higher than 3rd floor (European) without an elevator
BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)
AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts
size="2" face="Ve Total 540,000€
4 shares, 135,000€ each, 3 months of usage per year
5 shares, 108,000€ each, 10 weeks + 2 days of usage per year
6 shares, 90,000€ each, 2 months of usage per year
USAGE: Owners determine their own usage calendar and have
complete flexibility to arrange their calendar among themselves
* Full price of the property including agency fees.
* All notarial and legal fees.
* Property search and consultation fees.
* Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.
EVERYONE MUST AGREE:
Members of the purchase pool must be willing to invest the full amount of at least one of six, one of five or one of four shares to be held in an escrow account to fund the property search, purchase and renovation.
The search will commence upon commitment in writing and receipt of funds from all members of the purchase pool with an agreed upon allowance for a minimum of 90 days to locate the property.
Upon location of a property that fits the above parameters, a memo with photos and description of the property will be sent to all members who may decide at that time to approve or decline the property in a timely manner — within 48 hours of receipt of the memo. Any group which is able to approve the found property with a combined total of 540,000€ will enable the purchase process to proceed.
Members of the purchase pool will provide proxy to the Adrian Leeds Group, LLC to sign notarial documents on their behalf: the Promesse de Vente and Acte de Vente — allow 3 to 4 months to completion.
Three decor concepts that fit within the renovation budget will be presented to the purchase pool for voting and will be executed by the interior architect and construction team. Any choices made by the purchase pool outside the framework of the budget will be charged over and above the initial fees. Allow 2 to 3 months to completion.
Members of the purchase pool will appoint one spokesperson for the purchase pool to make day-to-day decisions and act as a "liaison" between all members of the purchase pool.
NOTE: The Adrian Leeds Group, LLC will offer optional property management services upon completion of the sale and renovation at an additional expense to oversee the maintenance of the property, provide housekeeping between owners’ visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.
If you are interested in participating in a purchase pool for "MY PIED-A-TERRE IN LE MARAIS," email Adrian Leeds at [email protected]
French Housing Holds Steady in Face of Subprime Crisis
By Matthew Saltmarsh and Simon Marks International Herald Tribune
Thursday, May 15, 2008
Photo by Hervé Abbadie
On a recent, dry May day at one of the largest construction sites in France, crews of laborers were toiling in clouds of dust to lay foundations for a giant residential and commercial project.
Last year and the year before, some buyers camped out to snap up apartments as soon as they were released at the site, on the Île Seguin Rives de Seine, on the western edge of Paris.
Today, they are not lining up overnight, but sales are still brisk — more than 800 of 1,100 already on the market have been sold — despite the global credit crisis that has popped housing bubbles elsewhere.
"I think we will be touched by this crisis, but not so much and not in the same way as elsewhere," said Jean-François Gabilla, president of the Fédération des Promoteurs-Constructeurs de France, which represents construction companies. "I don’t think prices will change very much"…
To read the entire article visit http://www.iht.com/articles/2008/05/14/business/house.php
Why Investors Must Check If They Ken Join the Other Barbies
The solidity of the French property market while all around is being credit crunched has been one of the major stories of recent times. Now, it seems, a new feature of this has emerged – the BARBies.
This is now, however, consider deleting a case of Cindy’s rival for the title of top doll (at least until Bratz took over) coming to life as a property investor. The acronym stands for "Buy Abroad, Rent in Britain" and is a new trend that has emerged in French property investment, Homes Worldwide reports.
Such a trend is, the web site notes, one indulged in by first-time buyers, who have decided that at present the best prospects for buying a home exist across the channel, enabling them to get on the ladder at a comparatively low price while remaining off it at home.
The rationale is that the French property can be rented out in the meantime to cover the mortgage costs there, with the end game being the ultimate sale at a profit of the French property, providing enough revenue to cover
any deposit for that lon
g-awaited first step onto the UK ladder at some future point.
Justin Walter of property firm Spot Blue told the Daily Mirror recently that parents were often involved in this kind of investment, noting: "We’re getting more and more parents buying an investment property for their kids."
Homes Worldwide noted that such an investment may be a very fruitful ruse, given the figures from the French estate agents association Fnaim showing a 3.1 per cent rise in prices in the first quarter of 2008. But as ever, new investment should not be treated lightly.
Even though France is a highly familiar country for British buyers and is covered by European Union law in many common areas, the fact is that French property law does have differences to Britain’s, not least in some of the clauses that exist.
In one example, any house which has agricultural land attached to it may be a fraught business to purchase, Daily Telegraph writer Will Randall noted. In an article this week he related that any tenant farmer working the land has first refusal on buying it. The result was that, despite initially indicating they were not interested, one of the two tenants concerned sought to buy the portion in front of the house, with no guarantee that it would not be sold on to someone who could build an unattractive development in front of the view.
While this move led to Mr. Randall giving up on the house, another local bylaw that exists is that a property can be bought at the asking price by the mayor on behalf of the townsfolk. The Sydney Morning Herald recently reported on the case of an Australian family looking to buy and renovate a derelict château where the mayor sought to do this, before finally settling for just half a hectare of the 20 which made up the grounds.
Such examples demonstrate why it is wise when buying in France, as elsewhere, to engage local expertise and be aware of bylaws and pitfalls which may occur. Provided these are taken care of an all is clear, Barbies (and anyone called Ken for that matter) may proceed to invest with more confidence.
10 Reasons to Invest in France
1) France is the most visited country in the world, receiving over 79 million visitors annually (including business visitors, but excluding people staying less than 24 hours.)
2) There is a short supply of properties. It is estimated that France needs to build 500,000 homes a year to meet demand. Last year a record 435,000 houses were built, but that figure will fall this year as construction companies struggle with rising costs.
3) There are stricter mortgage requirements, with a minimum 20% deposit needed, resulting in a more stable market.
4)Property prices continue to rise. FNAIM, the largest body of French estate agents, reported that prices rose 3.1% in the first quarter of 2008. While in the UK, Halifax reported that prices fell by 2.5% in March alone!
5) There is less speculative property buying in France.
6) In 2006, France had the highest birth rate in Europe and one of the lowest levels of emigration.
7) Immigration remains strong and divorce rates are rising.
8) Average French household debt was 47% of gross domestic product in the first quarter of 2007, compared with 59% for the euro zone and 97% in Britain, according to Standard and Poor’s.
9) Low risk of extremism, fundamentalists — terrorism.
10) France is unique.
Adrian Leeds, of Parler Paris and French Property Insider and John Howell, The International Law Partnership, Present the…
Living and Investing
in France Real Estate Conference
Upcoming Conferences in 2008:
Date: June 22, 2008
Location: International Law Partnership Offices, Holborn Hall, 193-197 High Holborn, London WC1V 7BD
Times: 10 a.m. to 6 p.m. with buffet lunch
Limit: 25 attendees
Registration Fee: £147 1st person, £97 2nd person
To learn more and reserve your place, click here: http://adrianleeds.com/frenchproperty/conference/LIF_London_June_2008/index.html
Date: July 26-27, 2008
Location: San Francisco, Alliance Française, 1345 Bush Street, San Francisco, California 94109
Times: To Be Announced
Registration Fee: To Be Announced
For more information, email [email protected]
Date: October 11-12, 2008
Location: Paris Chez Jenny
Times: To Be Announced
Registration Fee: To Be Announced
For more information, email [email protected]
See French Property Consultation on House Hunters International!
"Settling Down in Paris"
Angela and Ben met in 2003 when they lived in Los Angeles working for the same clothing company. Now, the two are engaged to be married. When Ben started receiving frequent overseas work, the company believed he’d be more valuable in Paris, so they happily relocated. They immediately moved into a cozy rental in the 17th district near the Arc de Triomphe and started to explore the different neighborhoods of Paris. The pair is now ready to take the big leap and purchase an apartment to stay for good. Property consultant Adrian Leeds is enlisted to help.
• May 31, 2008 10:30 PM ET/PT
• June 01, 2008 2:30 AM ET/PT
• July 16, 2008 10:30 PM ET/PT
• July 17, 2008 2:30 AM ET/PT
TODAY’S CURRENCY UPDATE
Visit the FPI Web site and click on the link on the left panel or click here for Currency Convertor by Moneycorp: http://www.adrianleeds.com/frenchproperty/insider/moneycorpconvertor.html
for up to the minute conversions of all major currencies.
Compare currency values easily and quickly by visiting:
The charts below are updated every ten seconds.
The prices shown are "inter bank" exchange rates and are not the rates that you will be offered by Moneycorp. Your rate will be determined by the amount of currency that you are buying. Please speak with an Moneycorp dealer or your consultant for a live quotation.
Parler Paris Après Midi
Come for a drink and to meet and chat with other readers in Paris…
The next gathering is June 10, 2008, and every second Tuesday of the month.
HOT PROPERTY PICKS: Riviera Living in Cannes and Nice
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
***Cannes, 3 rooms, approx. 52m²
Between rue d’Antibes and La Croisette. A rare find in this area. With 2 bedrooms, 1 bathroom and separate kitchen.
Asking Price: 350,000€ + 2.5% Finder’s Fee
***Nice, 3 rooms, approx. 62m²
Promenade des Anglais. Exceptional apartment with see view, entirely renovated. Includes a living room that opens onto a terrace, open American style kitchen, 2 bedrooms, bathroom, cellar, gardien. Close to stores. Parking is possible.
Asking Price: 490,000€ + 2.5% Finder’s Fee
***Cannes, 3 rooms, approx. 80m²
Situated two steps from Palm Beach and La Croisette, magnificent apartment, completely renovated with many high quality features. Includes two beautiful terraces with a sea view.
Asking Price: 845,000€ + 2.5% Finder’s Fee
Next Sessions: May 27 and June 3, 2008 at 2 p.m.
Notaires de Paris
Place du Châtelet
12 avenue Victoria
Additional information on Les Ventes aux Enchères des Notaires can be found on the Web site at http://www.encheres-Paris.com/ Though the site has a button for an English version, it isn’t reliable to work.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
May 27, 2008 at 2 p.m.
|2 rooms 29,7 m²
33 rue Gabrielle
75018 Paris 18th
Opening bid: 150,000€
June 3, 2008 at 2 p.m.
2 square des Aliscamps
75016 Paris 16th
Opening bid: 631,800€
2 square des Aliscamps
75016 Paris 16th
Opening bid: 296,400€
2 square des Aliscamps
75016 Paris 16th
Opening bid: 631 800,00 €
Deposit: 126 360,00 €
|4 rooms 95 m²
35/37 rue Bonaparte
75006 Paris 6th
Opening bid: 926,400€
|2 rooms 56,5 m²
3 quai Malaquais
75006 Paris 6th
Opening bid: 450,000€
132 boulevard Suchet
75016 Paris 16th
Opening bid: 312,800€
|3 rooms 33,3 m²
16 rue de Visconti
75006 Paris 6th
Opening bid: 290,000€
|4 rooms 76,5 m²
28 rue Jacob
75006 Paris 6th
Opening bid: 490,000€
|Studio 46,10 m²
15 rue du Louvre
75001 Paris 1st
Opening bid: 270,000€
|3 rooms 52,9 m²
62/74 boulevard Garibaldi
75015 Paris 15th
Opening bid: 230,000€
LEASEBACK NEWS FROM IMOINVEST
ANTIBES LES PINS RESIDENCE
France, Mediterranean Coast, Antibes
Studio 27m² to 36m² €132,000 to €149,000
One Bedroom 31m² to 56m² €149,000 to €310,000
Two Bedrooms 70m² to 108m² €310,000 to €750,000
Three Bedrooms 102m² to 102m² €584,000 to €584,000
EXPECTED RENTAL INCOME UP TO: 4.00%
A resort town in south-eastern France, Antibes is located along the Mediterranean Sea in the Côte d’Azur, between Cannes and Nice. Integrated to Antibes Juan-les-Pins, the technological park of Sophia-Antipolis is located north east of the city. Antibes is a busy town that is a favorite with holiday makers. There is much beauty to be seen in the old town with its fortifications along the coast, tiny lanes lined with lovely shops selling all sorts of curios, sidewalk cafés and restaurants. Today Antibes is affectionately called Antibes-Juan-les-Pins. The Juan-les-Pins part is the area that many tourists flock to as this is where the beaches and nightlife can be found.
Bright and comfortable, the apartments are for the most part extended by a loggia that offers a view out over the sea and garden. Apartments range from studios to 4-room dwellings, compact layouts to family living spaces, and capable of accommodating any lifestyle. The amenities have been designed to fulfil your expectations in respect of luxury, comfort and security. In the entrance hall and living room, the floors are tiled, for easy upkeep and cooler interiors. The sanitary equipment offers all the most modern comforts including, vanity tops in the bathroom. Some of the apartment kitchens come pre-equipped, and the roller blinds are electric. Lastly, to help you control your energy consumption, heating and hot water are provided by individual electrical systems. A guard ensures permanent control over the proper operation of the residence.
Key Investment Points:
- Rare opportunity to acquire a main or second home
– Wise investment
– Exceptional location
– Under 5 hours to Paris by train
– 2 hours to Marseille
– 13 km from Nice Côte d’Azur International Airport
– On-site swimming pool
SEEKING A MORTGAGE IN FRANCE?
When you make a purchase as important as a piece of real estate in a foreign country, you want to know that you can trust the people you are dealing with. Adrian Leeds has developed a network of professionals that meet only the highest of standards. With the expertise and experience of Adrian and her team, you can depend on getting the best advice and support to feel completely confident that you are making an informed investment decision.
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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?
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Of course, we’re always happy to help, so if you do need assistance, send an email to [email protected]
We wanted better guides.
So we wrote them.
Insider Paris Guides are written for people who love the City of Light. You’ll get a Paris insider perspective on Restaurants… Making a Life… Black Culture… Expat Writers…and the newest guide, Practical Paris!
French Property Insider subscribers receive a discount of 10% off any guide and up to 25% off the entire purchase (if two or more guides are purchased at the same time). Here’s how it works:
1. Click on special Web link we give you just for FPI subs
="Verdana" font size="2">2. Then order one or more guide(s) and use the promotion
code "ED762." This promotion code gives you 10% off your total
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HELPFUL CONVERSIONS FOR REAL ESTATE
1 square meter = 10.7639104 square feet
1 hectare = 2.4710538 acres
For more conversions, refer to: http://www.onlineconversion.com/
Welcome to your home in Paris. Home is how you will feel in a private apartment in Paris that has the "seal of approval" from Parler Paris Apartments and me, Adrian Leeds.
Parler Paris Apartments offers high quality accommodations to make your stay in the City of Light as enjoyable and 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.
La Terrasse du Temple
Rue du Temple, 3rd Arrondissement, Le Marais
One-Bedroom with Air Conditioning, Sleeps up to 4
This newly renovated air-conditioned apartment, located in a 16th-century building, is an immaculate and calm one-bedroom oasis in the heart of Paris. Bright and luxurious, La Terrasse du Temple offers all the comforts of home in a well layed-out 35 square-meter package…
Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/temple.html
or email: [email protected]
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