"La Ville et Les Vieilles de Paris"(The City and the Senior Citizensof Paris)
Magnificent Hôtel de Ville
(FOR SUBSCRIBERS ONLY)
September 13, 2007
Bonjour French Property Insider Subscriber,
Paris is busy as a beehive once again now that the kids are back in school and their parents are back to work. The air is cool and the sun is out (finally!). The Fall season is always jam-packed with activities, this year being no different. This weekend is the "Journées Européennes du Patrimoine," created in 1984 by the Minister of Culture, always the 3rd weekend of September, when the heritage of France is honored by giving access to many parks and gardens, archeological sites, museums, government buildings and other spaces, many normally closed to the public, open and free to everyone these two days. Five-hundred-sixty-four such places are listed on the official site ( http://www.journeesdupatrimoine.culture.fr/) possible to visit this coming weekend…and difficult to choose among them!
Today we focus on the city of Paris with several reports on recent activities. Since the current administration took office in 2001, I’ve seen the city change by leaps and bounds, all for the better. This gives us more and more confidence that investing in the city of Paris is a non-risk proposition, as we see life here prosper and improve with every new initiative Mayor Bertrand Delanoë puts before his constituents.
We also bring you more information about the "viager" properties, under a life annuity that can benefit both the seller and the buyer. Viager properties are both a bargain and a bet…you’re betting, unfortunately, on the length of someone’s life, as they maintain the rights of usage until their death. I’m personally investing in a viager, even though it may not always be advisable, as in the case of Jeanne Louise Calment. She was the oldest living human, who lived to the age of 122 and outlived her Notaire, Andre-Francois Raffray, who purchased her apartment, promising to pay $500 per month until Jeanne died. He paid twice the market value for the apartment before dying in December of 1995. Let’s hope I won’t have the same bad luck!
In just a few weeks, on October 13th, we will be gathering here in Paris for the Living and Investing in France Real Estate Conference. If you haven’t already registered, don’t delay. The next day you can take advantage of the "I’m Not a Tourist" Fair sponsored by Expatica.com…double the pleasure all in one weekend! See http://www.adrianleeds.com/frenchproperty/conference/LIF_Paris_Oct_2007/index.html for more information.
Editor, French Property Insider
Email: [email protected]
P.S. To read the report from this past week’s Parler Paris Après Midi, visit http://www.adrianleeds.com/parlerparis/apresmidi.html and mark your calendar for our next gathering one on October 9th!
Volume V, Issue 36, September 13, 2007
In this issue:
* News from Paris City Hall
* Viager Defined
* Tale of a Viager
* Meeting of Two Mayors
* Sarkozy Reforms Inheritance Taxes, Part II
* French Tax Changes a Model for Britain
* Help for Normandy Newcomers
* Your Own Piece of Paris for a Fraction of the Cost
* House Hunters International Encore in October
* Living and Investing in France Conference, October 13, 2007, Paris, France
* Expatica Welcome to France Fair, October 14, 2007
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: October 9, 2007
* Hot Property Picks: Viagers with a View
* On the Auction Block: September 18, 2007 at 10 a.m.
* Leasebacks: Country Normandie Resort & Spa, France, Britanny / Normandy, Branville
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — NEW! Le Penthouse Voltaire
Reporting on Paris 2006
By Adrian Leeds
color booklets on heavy p
aper arrived in my mailbox from the City Hall of Paris reporting on the city’s activities from 2006. Not everyone receives them (sent to me by my ‘little birdie’ at the Hôtel de Ville), but the city hall does go to quite a lot of trouble and expense to inform its citizens of the goings on which does include a monthly magazine (the third four-color magazine to have landed in the mail box) titled "A Paris: Le Magazine Municipal d’Information" delivered to all residents of Paris free of charge.
It’s a service that has yet to be bestowed on the citizens of any city in the United States that I know of. If you do, please let me know! You can even receive your own copy of "A Paris" online just by clicking here: http://www.nxtbook.fr/newpress/mairie-de-paris/Aparis_24_automne2007/index.php
One of the booklets, "Rapport 2006 de la Médiatrice de la Ville de Paris," this takes the inclusion of all residents in city matters the priority. Frédérique Calandra, official "Médiatrice de la Ville de Paris," acts as a mediator between those who make the laws and those who must follow them, to insure that everyone is in agreement with those laws. The headline reads: "Parisiens, Vous Avez des Droits…et des Devoirs." ("Parisians, You Have the Rights and the Duties.")
To illustrate this idea, there are posters around town showing a photo of the bottom of a person’s left shoe with a cartoon bubble coming from the sole which reads: "Tous les pieds gauches vous le diront: de plus en plus de maîtres ramassent les crottes de chiens à Paris." (All the left feet are saying to you: more and more we must take responsibility for the doggy poop in Paris!) I must admit, while there is still plenty of evidence of the canine variety, it’s way less than in the past and I have actually witnessed pet owners scooping the poop.
The report illustrates in statistics, how more and more of the citizens have taken public issues into their own hands since 2002 — the current administration under the leadership of Bertrand Delanoë who took office in 2001. Of course, perhaps we can imagine him polishing his nails on his lapel with these brochures — a bit of ‘tooting his own horn,’ but no matter, the object of his desire is indisputably a city ‘for the people, by the people.’
Again, the booklet is made available on line on the city of Paris Web site: http://www.paris.fr/portail/viewmultimediadocument?multimediadocument-id=30696
In the second report, "Rapport d’Activite des Services 2006," the accomplishments and activities of 2006 are outlined month by month and real statistics are cited. Certain people who play various roles in the city’s development are showcased and quoted. How ‘tomorrow’ will be dealt with is questioned. The report is not available online, but available at any Mairie in Paris, just by asking or calling 3975 from any France Telecom fixed line.
A (French) real estate agreement where property is sold on a reverse annuity basis. Also known as a Reverse Annuity Mortgage or Charitable Remainder Trust.
For example, a person would sell their property to a purchaser in exchange for a down payment and regular cash installments for the rest of their life (while continuing to live in the house). The only catch is that when the person dies the property is surrendered to the purchaser.
The advantage of a viager agreement is it allows elderly people to benefit from the sale of their homes while retaining its use. The downside is that if the person dies one week after entering the arrangement, then the buyer gets the property for a fraction of the cost.
"Viager" with a View, Part I
By Adrian Leeds
Excerpt from Parler Paris
September 10, 2007
The story gets more fascinating by the moment as it unfolds inch by inch. So fascinating, that the elements read like a screenplay filled with mystery, romance, drama, moral issues and legal questions…all set in the world’s most exciting city — Paris.
You’re about to hear it, but in an abbreviated form of course, for lack of time, space and naturally, much of which must be withheld for that screenplay I may write in the future. (Thanks to the scriptwriting workshops given by Judith Merians (!) — don’t miss this Saturday’s workshop…scroll down for more information.)
This still may take a while, so have a seat, pour a glass of French wine and read on.
It started bef
ore I own
ed the apartment I live in when a flood of water came pouring in the bedroom window thanks to the clogged gutters from the foliage on the terrace of the apartment above mine. The "Syndic" (manager of the home owner’s association), Monsieur de L., and I paid a visit on the elderly gentleman who occupied the studio apartment, an invalid in a wheelchair who didn’t seem to pay him much mind. The damages were paid by the "copropriété" (home owner’s association) because the terrace was not owned by the occupant, Monsieur N., even though he had certainly appropriated it with a forest of plants.
Years past and there were no further issues to speak of until early 2006, when Monsieur de L. called in a committee of residents to discuss the "illegal" terraces on the 4th floor of building A (the only building with an elevator), I being one of them. Why, I don’t know, except that he had taken a liking to me as an American, a single woman with experience in Paris real estate.
The two terraces (including the adjacent terrace belonging to another apartment), each about 14 square meters, overlooking rue de Saintonge with a perfect southeast orientation, continued to cause him problems, as they had never been written into the deeds of the apartments and therefore were the responsibility of the copropriété. This committee was recruited to make a presentation at a future "assemblée générale" (meeting) where a vote would be put to the owners to decide if the terraces should be destroyed or not!
When I saw the apartment, now for the second time, without the clutter of Monsieur N.’s belongings and the terrace perfectly clean, my heart pounded and I had what the French call a "coup de coeur" (love-struck)! The main room was only about 20 square meters, with two French-paned doors leading to the terrace on either side of a picture window. It was unusually striped with exposed 17th-century wood beams set between two panes. The ceiling had been opened enabling a small mezzanine, one part containing a large skylight, and the "poutres" (beams) were obscured by folds of fabric acting as a false ceiling. One wall had been painted with a "trompe l’oeil" (optical illusion, or ‘fool the eye’) scene of the Mediterranean and another wall had an enormous working fireplace, molded of stucco. An archway led to a small kitchen with a window on the stairwell, and another to a minuscule bathroom. Another archway had a small flight of stairs inside it that led to nowhere (!). One corner housed a rounded structure, filled with shelves, enclosed by carved wooden doors, rounded at the tops. Everywhere there were nooks and crannies, in rounded shapes of stucco and on all the flat surfaces were inlaid small tiles in blues and yellows.
Whispering to Monsieur de L., "I want to buy this apartment!" he replied, "Shush, don’t tell anyone! Everyone will want it!" And so I shut my mouth, attended the meeting and prayed like hell the owners would vote to leave it in tact. The meeting itself could fill volumes, so you’ll have to use your imagination to know that there was quite a heated discussion, but in the end, the terraces won, and secretly, so had I.
This is just the beginning of the story and what has now taken almost two years to accomplish. Yes, I am now the owner, having signed the final deed this past Friday, but not without much pain and effort. Regardless, even as owner, I still don’t have the rights of usage — I don’t even have the keys!
So, now you ask: "Are you nuts?" And can you see the huge grin on my face?
Next week I will unfold the rest of the amazing story…including some interesting characters integral in making it happen — a Notaire, a government "fonctionnaire," a banker, a neighbor, a previous owner (deceased!), Monsieur N. of course and soon to enter the scene, his nephew…not to mention some new facets — an elevator, two cellars, a storage closet and a "chambre de bonne" (servant’s quarters).
The Windy City Blows In (Not Out) the City of Light
By Adrian Leeds
Excerpt from Parler Paris
September 12, 2007
It’s not every day that the mayors of two great cities convene to proclaim their vows to one another, or that I have a chance to witness it in the privacy of the mayor’s office.
This is the second time to have been invited to attend such an occasion. The first was almost three years ago when Paris Mayor Bertrand Delanoë gathered with Mayor Anthony Williams of Washington, DC and a small entourage. (See the past newsletter at http://www.adrianleeds.com/parlerparis/issues/pparis24-9-04-special.html)
This time it was Mayor Richard Daley of Chicago, the U.S.’s third largest city, to pay a visit to the Hôtel de Ville on September 11th, to study Paris’ new "Vélib" public bike program and the new Tramway.
Daley is highly regarded for his innovative, community-based programs and was noted by Time magazine as "widely viewed as the nation’s top urban executive." His accomplishments tally tall in issues concerning education, crime and violence, environment, urban development, housing, transportation, culture, tourism, taxes, business, women and minorities. His list of awards are as long, including having been named "Municipal Leader of the Year," "Public Official of the Year" and "Politician of the Year" by various organizations and publications. Yes, he is the eldest son of the late Mayor Richard J. Daley. It’s no wonder he and Paris Mayor Bertrand Delanoë have much to discuss, seeing as they have many of the same goals and view points.
Friend, Tom Marquardt of Design Collaboratives of Chicago ( http://designcollaboratives.com/), when hearing the news of the meeting, wrote "We love Rich Daley!! This guy has done so much for Chicago…and then gave instructions: "Make sure you say ‘Hi’ to Rich Daley for me. Tell him you have friends in the 35th Ward/Logan Square!!"…and so I did, to members of the entourage who were taking a tour of the magnificent Hôtel de Ville with the official guide, Marie-France Bennett.
Mayor Daley’s party started off at 9 a.m. with a visit of the new Tramways on the "Maréchaux" — the ring roads around Paris, followed by a presentation of the new "Vélib" public bike system. They returned to the Hôtel de Ville for a private meeting in the mayor’s office, lasting a little more than 30 minutes. The entourage then made their way through the elaborate halls of the Hôtel de Ville together to the corner chamber where the proclamations were signed to enrich their exchanges and cooperation between the two cities.
Each mayor had a chance to say a few words, in his native language, and a translator reiterated his words in the other’s language. I captured their speeches in video on my tiny Sony Cybershot camera. Mr. Daley said everything I would have wanted to say…about the obvious passion, love and affection the current administration and its people have for Paris; how he had seen the visible improvements in the city since he last visited; how Paris, now more than ever, takes its rightful place as a global city, one with which they can both share and steal ideas to improve the quality of life for its residents; how important it is to recognize the solemn day of September 11th to realize that diversity is the strength, not the weakness of a city and how we must all work to eliminate hatred and discrimination.
With those words, the champagne cocktails were poured and canapés were served. I got a bit welled up, feeling proud to be an American, proud to be a resident of Paris, proud to have been lucky enough to have witnessed the whole scene among the people who can, so seriously, have an important impact on our lives.
I left soon after, but not without having shook Mr. Delanoë’s hand and commenting to Mayor Daley that Chicago was a great city, too, just as Paris is. That received a small cheer from some of the visiting entourage who may have enjoyed hearing American-spoken English. Upon leaving the Hôtel de Ville, I spotted one of the City Council Members of Chicago, in his suit and perfect haircut of course, riding away on one of the Vélib bikes stationed on rue Lobau!
Sarkozy Abolishes Inheritance Taxes for Surviving Spouses
Economic Revolution Gathers Steam in France as the Tax System is Radically Overhauled From MacFarlane’s
Further Enhancement of the Newly-introduced Direct Tax Ceiling
The so-called "bouclier fiscal" or "fiscal shield" was initially introduced on January 1, 2007 by President Chirac. The measure placed a cap or ceiling on the amount of direct taxes (including income tax, wealth tax (ISF), and land and property taxes) payable by an individual taxpayer or spouses. When the bouclier fiscal was introduced, the cap was set at 60% of annual earnings.
Under Sarkozy’s reforms, the ceiling has been brought down to 50%. Significantly, social security contributions ("CSG" and "CRDS") – long seen as one of the most oppressive features of the French tax system – are now included in the equation. As before, the taxpayer is entitled to claim a rebate of any tax paid in excess of the capped amount. The reduced rate will come into effect from January 1, 2008, but, as the measure operates retrospectively, taxpayers will be able to reclaim additional tax paid going back to January 1, 2007.
The potential tax savings as a result of the tightening of the bouclier fiscal are significant. In the case of a married couple with two children and an annual household income of 100,000 euros, the direct taxes payable could be up to as much as 76,000 euros. Under the new rules, the couple would be entitled to claim a tax rebate of 26,000 euros.
Some Limited Tax Relief for Homeowners
Unlike the UK, France has not traditionally been a nation of homeowners. Currently, only around 56% of French people own their own home, in contrast to the European average of around 75%. In an attempt to incentivize home ownership, Mr. Sarkozy’s reforms will offer French taxpayers income tax relief for interest paid on their mortgage payments. The relief is limited to your primary residence and applies during the first five years of the loan.
Both existing and new mortgages qualify for relief; however relief cannot be claimed in relation to historic payments. The annual amount of interest in respect of which relief can be claimed is capped at 3,750 euros for a single person and 7,500 euros for a couple. For a couple with children, this is increased by an additional 500 euros per child (or 250 euros per child in the case of a single parent). Where the amount of the interest payments falls within these limits, the tax credit received will be equivalent to 20% of the amount of the annual interest paid.
In a parallel move which in part recognizes a strong prime property market, the relief for wealth tax attributable to the value of your primary residence has been increased by 50%. Whereas previously wealth tax was calculated on an amount equal to 80% of the market value of your home (i.e. a 20% relief), from January 2008 tax will only be payable on 70% of the value (a 30% relief).
Tax Relief on Investments in Small and Medium-sized Enterprises and Donations to Organizations Providing a Public Benefit
In order to
investment in small businesses (seen by Sarkozy’s government as a key to France’s economic growth), investors will now be able to offset 75% of amounts invested in qualifying companies against their liability to wealth tax: the relief is capped at a maximum of 50,000 euros. Similarly, 75% of the amount of any donations to organizations which are deemed to provide a public benefit (the loose equivalent in France of a charity) will now have a deductible for wealth tax purposes up to a maximum of a further 50,000 euros. These reliefs are due to come into effect on June 20, 2007 and will operate in respect of wealth tax payable from January 1, 2008.
Tax Relief on Overtime
"Le travail est un trésor," declared the Finance Minister citing the famed 17th-century author of the Fables, Jean de la Fontaine, as she presented the government’s reform package, in a pointed reference to the tale of the dying farmer who told his idle sons that there was a treasure buried in his fields, thereby prompting them to plough their way to success.
In a move to deregulate the labor market, employers will benefit from lower social security contributions in respect of overtime hours (social security contributions are extremely high in France and are frequently cited as a brake on recruitment). Employees, meanwhile, will also benefit from a reduced rate of social security contributions on overtime hours, which in addition will be completely exempt from income tax. It is hoped that these incentives, which are due to take effect on October 1, 2007, will encourage employers to offer, and employees to work, overtime hours in order to boost productivity and increase spending power.
Income Tax Breaks for Student Workers
New rules are being introduced to encourage students to undertake holiday work to finance their studies. Previously, students aged 21 or under who undertook casual work during their school or university holidays were exempted from income tax to the extent that their annual earnings did not exceed an amount equal to twice the monthly minimum wage. This exemption has now been extended to cover all forms of employment (the idea being to encourage students to gain professional work experience), while the upper age limit has been raised to 25 and the amount of the annual exemption increased to three times the monthly minimum wage. The cost to the exchequer is estimated at no more than 30 million euros.
Regulation of Bonuses Paid to Departing Company Bosses
Until now, the payment of bonuses to departing company executives (known as "golden parachutes") has not been subject to any specific regulatory control. The new legislation seeks to put an end to automatic bonuses in favor of performance-related bonuses. Bonuses are now only payable where conditions of performance have been clearly stated at the outset and have been met by the executive receiving the bonus. Existing contracts where no such conditions have been stipulated must be brought into line within 18 months of the new legislation coming into force.
To increase transparency, the board of directors must make available to the public both the resolution authorizing the company to enter into a contract for the payment of a performance-related bonus and (prior to payment of the bonus) the resolution confirming that the necessary performance-related conditions have been satisfied.
Opposition to the Reforms
France is a country steeped in revolution and bureaucracy. Sarkozy faces one final hurdle before his reforms can be put into action. Socialist party MPs, having failed to block the passage of the bill, immediately appealed against it to the Constitutional Council, which has until September 2, 2007 to rule on the appeal. The effect will be to delay the official publication of the bill as law and its entry into force until the Council has had its say. The deputés’ complaints arise on a number of fronts. Their main objections are:
* that the measures which relax the rules on overtime will be discriminatory, open to abuse and risk restricting the job market by discouraging employers from taking on extra staff;
* that the direct tax ceiling of 50% of gross income violates the principle that all taxpayers should be equally subject to the law; in effect, they complain that the measure favors only those on the highest rates of tax and national insurance and is equivalent to neutralizing wealth tax by the back door;
* that the introduction of wealth tax relief for business property investment, contributing as it does to the future profit of the investor (in the form of income and gains) is objectionable; they call into question the reality of any associated commercial risk which might justify the relief.
The president intended his package of reforms to create an economic shock and stimulate growth. The reforms have certainly created a political shock and brought down on his head severe criticism from the European finance ministers: they contend he risks destabilizing the euro by measures which are bound in the short term to take his budget deficit outside the permitted parameters.
While some of the domestic rhetoric adopted by the French government to promote the reforms may be borrowed from the past, the language of personal advancement and individual wealth is new and comes from abroad. In substance too, the new legislation represents a symbolic and deliberate shift in approach — in the direction dare one say it of the much-demonized "Anglo-Saxon model." For many, especially those on the political left, the changes are unsettling. For Nicolas Sarkozy and his government, they are essential if France is to compete economically with the rest of Europe and attract wealthy individuals to France. Whether the reforms are successful in realizing those objectives remains to be seen.
At the same time, however, as setting the political tone for the new presidency, these far-reaching reforms, which come hot on the heels of some big changes in January 2007 to the strict in
heritance rules, will be felt by individual taxpayers normally resident outside France. For an English investor in France — and there are many in the second home sector — it is time for a re-assessment of tax and estate planning.
Britain Needs to Take French Lessons in Cutting Inheritance Tax
By Alison Steed for The Telegraph
At last, someone has taken sensible measures to improve at least in part the position for those hit by inheritance tax.
Oh no, not Gordon Brown; Nicolas Sarkozy is the man making the tax reforms, in France, but Brits who own property there and/or are subject to the wealth tax and IHT in France, will benefit.
France’s wealth tax has always been controversial, but under his new "work, employment and buying power" reforms, Mr. Sarkozy is implementing IHT changes and tax relief on mortgages to help boost the French economy…
To read the entire article visit http://www.telegraph.co.uk/global/main.jhtml
Property in France: Efforts to Help Newcomers Settle in Normandy
By Miranda Ingram
We are gathered on a sunny Normandy afternoon in a county council meeting room to discuss the "British problem". Except that there is no "problem", of course. Everyone is very careful not to use the word "problem" – especially as there are a couple of Brits in the room.
Instead, we are "nos amis Britanniques" (marginally less cumbersome than "les sujets de sa gracieuse majesté" so beloved of the local newspapers). And there is not a problem, but a situation…
To read the entire article visit http://www.telegraph.co.uk/property/main.jhtml
The "Fractional Ownership" Solution…
Le Jardin Saint-Paul
Rue Ferdinand Duval, 4th Arrondissement, Le Marais
To take a video tour of this gorgeous property, visit http://www.parishomeshares.net/jspvideos.html
Chez La Tour
Boulevard de Latour-Maubourg, 7th Arrondissement, Eiffel Tower
Soon to Come
Editor’s Note: We will be discussing Fractional Ownership at the upcoming Living and Investing in France Real Estate Conference October 13th but by then it may be too late to take advantage of this opportunity. If you’re interested in learning more about Paris Home Shares upcoming projects, call or write Steve Navaro: +1-303-793-0900, email [email protected]
French Property Insider to be Aired on House Hunters International!!
New Dates and Times in October!
If you missed the show the first time around, now you have another chance to see Adrian Leeds live 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. Real estate agent Adrian Leeds is enlisted to help.
Property Search Consultant, Adrian Leeds Group
Web site: http://www.adrianleeds.com/frenchproperty/consultation
• October 1, 2007 11 PM ET/PT
• October 2, 2007 3 AM ET/PT
Editor’s Note: Be sure to read the en
tire story about Ben and Angela on FPI issues: http://www.adrianleeds.com/frenchproperty/insider/members/content/pastissues/FPI_April_6_2006.html and http://www.adrianleeds.com/frenchproperty/insider/members/content/pastissues/FPI_June_22_2006.html
Living and Investing in France Real Estate Conference!
October 13, 2007 at Chez Jenny, Paris
If you’ve always dreamed of owning your own "pied-à-terre" in Paris or home in the Provinces of France, perhaps as a future retirement home or for now as investment property rented part of the year…this power-packed one-day conference is a MUST.
Hosted by Adrian Leeds, long time resident of Paris, Editor of the Parler Paris Nouvellettre® and French Property Insider weekly E-zine and John Howell, lead attorney for the International Law Partnership, London, this one day in Paris will point you in the right direction to make it really happen! Includes three course lunch and cocktail reception.
For more information and to register, visit: http://www.adrianleeds.com/frenchproperty/conference/LIF_Paris_Oct_2007/index.html
Or email Schuyler Hoffman at [email protected]
I AM NOT A TOURIST
Expatica.com Welcome to France Fair
October 14th, 2007
Carrousel de Louvre, Paris
New to France or looking to make the most of expatriate life?
Get the information you need from companies and agencies specialized in expatriate services, from banks, investment firms and insurance companies to schools and tax agencies. You’ll find information on house hunting, finding a job, immigration and permits, staying long-term, and much more.
Meet the people who make expat life great, including the top clubs and associations, travel agents and sports teams.
Explore the expatriate life and your ambitions – higher education, career opportunities, your own business, travel and lifestyle possibilities. Every year, thousands of international managers and employees arrive in France. The I AM NOT A TOURIST Fair answers the 101 questions you have about living here, in a unique environment where you can meet the right people face to face.
News: Expatica is proud to announce that Sir Peter Westmacott, the newly arrived British Ambassador to France, will be on hand to give the opening ceremony at the Fair. We are thrilled to have Sir Westmacott participate in our event and thank the British Embassy for their continued support.
Adrian Leeds Group, LLC and John Howell & Co will be at Booth 92/93 — be sure to come by and visit us!
To order your FREE tickets, click here: http://www.expatica.com/welcometofrance/ticket_signup.asp
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
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:
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 October 9, 2007, and every second Tuesday of the month.
HOT PROPERTY PICKS: Viagers with a View
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, 7th Arrondissement, 2 rooms, approx. 53m²
Viager apartment with an exceptional view of Parc Matignon, occupied by an 81 year old woman. 185,000€ euros and rent of 2,200€ euros per month.
Asking Price: 185,000€ + 2.5% Finder’s Fee
*** Paris, 15th Arrondissement, 3 rooms, approx. 101m²
Overlooking the Seine with a view of the Eiffel Tower, this apartment is in new condition. Occupied by an 86 year old woman. 188,000€ and rent of 4,690€ per month.
Asking Price: 188,000€ + 2.5% Finder’s Fee
*** Paris, 15th Arrondissement, 4 rooms, approx. 128m²
Exceptional apartment with a view of the Seine and the Eiffel Tower. With 2 bedrooms, occupied by an 82 year old woman. 298,000€ and rent of 4,200€ per month.
Asking Price: 298,000€ + 2.5% Finder’s Fee
Next Sessions: September 18, 2007 at 10 a.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:
|2 rooms, 46,43 m² + parking
48 rue de l’Ermitage
75020 PARIS 20th
Opening Bid: 170,000€
|3 rooms 59,10 m²
6 rue Berthollet
75005 PARIS 5th
Opening Bid: 355,000€
|4 Ateliers 41,6 m² all are rented
70 rue de Belleville
75020 PARIS 20th
Opening Bid: 38,000€
|4 rooms 73,40 m² + extra room 2,59 m²
4 rue Auguste Bartholdi
75015 PARIS 15th
Opening Bid: 360,000€
|STUDIO 28,54 m² + GARAGE
40 quai de Jemmapes
75010 PARIS 10th
Opening Bid: 140,000€
|STUDIO 28,54 m² + rented garage
40 quai de Jemmapes
75010 PARIS 10th
Opening Bid: 125,000€
|3 rooms 56,32 m²
62 rue de Turenne
75003 PARIS 3rd
Opening Bid: 275,000€
LEASEBACK NEWS FROM IMOINVEST
COUNTRY NORMANDIE RESORT & SPA
France, Britanny / Normandy, Branville
One Bedroom 40m² to 40m² €219,000 to €219,000
Two Bedrooms 50m² to 62m² €273,000 to €342,000
Three Bedrooms 65m² to 65m² €356,000 to €356,000
GUARANTEED RENTAL INCOME UP TO : 4.50%
BETWEEN SEASIDE AND COUNTRYSIDE
Within easy reach of Paris, Normandy is an exceptionally diverse region with stunning landscapes, cosmopolitan town life and magnificent coastline. Normandy is the perfect place in which to spend a relaxing weekend or vacation away from it all. Whatever the weather, the region’s landscapes constantly delight the eye and stimulate the imagination. Located 20 km from the beach resort of Deauville and Trouville. Get away from it all in the countryside and take in the lively atmoshpere of the top-class seaside resorts dotted along the Cote Fleurie.
The Country Normandie Aqua Resort & Spa is located only 8 kms from the coastline, in the heart of Calvados between the Pays d’Auge villages of Branville and Danestal. The development features a range of contemporary country cottages and terraced apartments in updated Normandy styles. Designed for year round family fun, the on-site Aqua Park covers over 2500 square metres. It offers indoor and outdoor pools heated to 29°C and includes a lagoon with wave machine, whirlpool bath and bubble jet pool, a waterfall and rapids, a pool bar, a kids play pool, a relaxation area and a beach with deckchairs. In addition, the Sensaroma Spa has a Sauna, Steam Bath, treatment and massage cubicles.
Investors will receive a full VAT tax refund and a guaranteed rental income. The residence will be fully managed and serviced. Investors will also benefit from holiday use of their property.
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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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:
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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.
NEW! Le Penthouse Voltaire
American comfort with French flair! Overlooking Boulevards Richard Lenoir and Voltaire, in the 11th Arrondissement. This three-bedroom, two-bath luxury penthouse with wrap-around balconies and spectacular views, sleeps 6.
Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/voltaire.html
or email: [email protected]
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