Paris Property Prices and the Perfect Picasso Pied-à-Terre
A View on the Garden of Le Musée Picasso…Lovely Even in the Rain
(FOR SUBSCRIBERS ONLY)
July 10, 2008
Bonjour French Property Insider Subscriber,
We’re gearing up for a big weekend to celebrate Bastille Day and take a view on the downhill slide of the Summer season. Meanwhile, the latest property price reports are out and there’s good news once again for Paris! Prices are up almost 10%…there seems to be no let up, even if the volume of sales has decreased. Be sure to read all about it in today’s issue of FPI.
On a human interest note, a reader of FPI’s dream is about to come true with the discovery of a pied-à-terre in a most coveted corner of the city…one particular spot in Le Marais that overlooks the magnificent Musée Picasso and its gardens. The view is pure heaven.
Read all about it and stay tuned while the story unfolds, but keep your fingers crossed for her success. Scroll down to learn all about it and things perhaps you may not have known about the museum itself.
Be sure to also read the latest news from some of our associate sites, check out the Hot Properties, the latest Leaseback property and information you shouldn’t miss.
By the way, the latest news is that Fractional Ownership property "Le Petit Trésor" is almost sold out (!)…so don’t waste a single moment in learning more about it and contacting Steve Navaro to reserve your share in this exciting Paris property! LE PETIT TRESOR:
Editor, French Property Insider
Email: [email protected]
P.S. To read all about who’s who at yesterday’s Parler Paris Après Midi, visit http://www.adrianleeds.com/parlerparis/apresmidi.html. Remember, there’s no August meeting, but we’ll be back September 9th for more festivity.
P.P.S. After the smoke clears, see us in San Francisco for the Living and Investing in France Real Estate Conference…now’s your chance to learn how to make your dream to party in Paris really come true! Visit http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html to register before the price increases after July 14th!
Volume VI, Issue 28, July 10, 2008
* Deciphering Paris Property Prices
* Paris Property Prices Update
* Pied-à-terre Offers a Masterpiece View
* About the Picasso Museum
* Vineyard Investment: Bottoms Up…and So Are the Prices
* Changing Face of French Tourism
* French Property Investments for Everyone
* French Property Consultation on House Hunters International
* Design Your Own Fractional Property
* Upcoming Living and Investing in France Real Estate Conferences
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: September 9, 2008
* Hot Property Picks: Ninth Life
* Leasebacks: Balcons de Cabourg, France, Brittany / Normandy, Cabourg
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — Les Portes de Notre Dame!
How to Understand the Reported Property Prices
By Adrian Leeds
I can’t stress this enough. Before you read the following article and look at the most current reported property statistics, please learn HOW to understand them so that they will be useful to you.
The property price figures for Paris and the Paris region (Ile-de-France) are reported quarterly by the INSEE, the French National Institute for Statistics and Economic Studies (http://www.insee.fr/en/home/home_page.asp). Just this January 15th, the statistics were released for the end of 3rd quarter 2007, almost four months after the closing of the month. Given that the properties to which the statistics relate were purchased about three months earlier than the deeds were recorded (the time between the signing of the Promesse/Compromis de Vente and the Acte de Vente, you can assume then, that these f
igures are already out
of date by six to seven months.
In light of that fact, now let’s look at how it affects the market values you will experience when you set out to look at properties. This report averages Paris per square meter prices at 6,181€ with an annual appreciation of 8.7%. Seven months is 3/5 of the year. If you were to visit properties today, you can already expect the prices to be about 5.2% higher (3/5 of 8.7%), or 6,502€ per square meter.
Other factors that contribute to this variance are: 1) the reduction in the purchase price, which can be attributed to direct payments made to the sales agent to help reduce notaire fees,
2) the listing of inventory of fixed furniture such as built-ins and appliances and
3) the under-the-table cash transactions, which are illegal but do occur.
4) Finally, the figures are diluted as they are reported by an arrondissement in its entirety and do not account for differences by neighborhoods or quality of properties.
I’m no mathematician nor economic analyst, and I’m sure among you there are readers who can correct my rather plebeian theory, but we know for a fact, that the actual market values are considerably higher than those the Chambre de Notaires report. We know based on property searches and visits we perform daily.
So, when setting out to find your perfect Paris apartment, keep in mind that what really counts are the asking prices of comparable properties.
Paris Property Price Report
First Quarter 2007 through First Quarter 2008
By Adrian Leeds
The news is out. Paris property prices are up once again for the last 12 months 9.4%, for first quarter 2007 through first quarter 2008, with an average price per square meter of 6,430€, up from a year earlier with 8.8%.
If you read the above article, then you know that in true market value, the average per square meter price is closer to 9,000€ — and from personal experience, this is certainly true, particularly for the central most districts of the city.
The only areas of the Ile-de-France to experience price decreases was for the first quarter only, not on an annual basis, and in the Petite Couronne* with -.3% and the Grande Couronne* with .7%.
The volume of sales for resale apartments in Paris was down by 13.6% the first quarter of the year and in the Ile-de-France, 7.9%, after a dozen years of market strength. The Chambre de Notaires is blaming the lending institutions which have tightened their belts by taking less risk with new borrowers, among other factors.
In Paris, prices stay healthy, in spite of the softer sales. The 6th arrondissement continues to lead as most expensive district (Saint-Germain-des-Prés), followed by the 7th (Eiffel Tower), the 4th (Marais), the 8th (Champs Elysées), the 5th (Latin Quarter), 1st (Louvre) and 16th (Trocadero).
In contrast, the least expensive areas of the city remain consistent with the 19th (Buttes Chaumont), followed by the 20th (Père Lachaise), the 18th (Montmartre), 10th (Canal Saint-Martin) and 12th (Gare de Lyon).
Districts to watch for appreciation are the 9th (Grands Boulevards), 4th and 8th (Marais and Champs Elysées) and 7th (Eiffel Tower).
When considering where to buy in Paris to maximize your return on investment, first determine whether the property is for residential use or rental return. If for residential use, then choose a district that suits your lifestyle and tastes, but one that shows a healthy appreciation for the future. If for rental return, then stay within the first eight districts (central Paris) and evaluate rental potential against investment and future appreciation value.
To assist you in this evaluation, download our FPI Return on Investment Excel Spreadsheet: http://www.adrianleeds.com/frenchproperty/insider/members/content/Rental_Return_On_Investment.xls
*Île-de-France is composed of eight departments centered around its innermost department and capital, Paris. Around the department of Paris, urbanization fills a first concentric ring of three departments commonly known as the petite couronne ("small ring"), and extends into a second outer ring of four departments known as the grande couronne ("large ring").
Editor’s Note: For complete information, download the pdf file from the Chambre de Notaire Web site at http://www.paris.notaires.fr/UPLOAD/files/
A Look at Picasso from a Perfect Three Flights Up
By Adrian Leeds
I pass it almost daily and covet the apartments whose windows are exposed there. It’s a street with a name longer than it…"rue des Coutures Saint-Gervais," a continuation of the little street (rue du Perche) that dead ends my own (rue de Saintonge). The buildings all face south so the sun shines all day long, particularly because it borders the Musée Picasso along with its magnificent gardens, leaving the windows fully exposed.
Each time I pass, I wondered what the view was like and if an apartment there would ever come up for sale. It did.
Jane R. came to Paris with the dream of owning her own little pied-à-terre after visiting the city for the last 30 years. She scheduled two weeks to be here for her annual injection of Paris with the intent to find an apartment — one that would satisfy her personal needs, be a good investment and provide good rental returns. She was nervous…it was a big step and a big investment, but with retirement on the horizon, it was exciting to finally make this dream of hers come true.
Our Mortgage Manager, John Rule, worked with her in advance to discuss financing and arrange for her to meet with the lenders to determine how much she could borrow. We determined her budget to be between 250,000€ and 300,000€ — a bit limited, but enough for 20 to 30 square meters — a studio or small one bedroom in a good district.
Our Senior Search Consultant set out to find properties and schedule visits at first chance. Her first choice was the 6th arrondissement, but prices there made space too unreasonably small for the budget. Instead, they considered the 2nd, 3rd and 4th districts, where prices were lower, but rentals were high.
The first day, three properties were scheduled to visit, each of which was in the 3rd arrondissement.
The first apartment we visited together was amazingly in the same building as the apartments owned by two other clients of French Property Consultation (http://www.adrianleeds.com/frenchproperty/consultation) — "L’Aubergine," a one-bedroom apartment offered by Parler Paris Apartments (http://www.adrianleeds.com/parlerparis/apartments) on the 2nd floor and another on the 3rd floor that will be renovated for rental and will be the subject of an upcoming House Hunters International! This apartment was on the 5th floor, with elevator, with two large windows on a lovely courtyard and the exact same size as the two below it — 28 square meters to make either a studio or one-bedroom. The street is a passage named "Cité Dupetit Thouars," in an historic part of the "Haut Marais" — quiet and totally charming. Price: 254,000€ and little renovation was necessary. So far, so good.
The second apartment outperformed the first. It was on the 6th floor of a 1930′s building with an elevator on rue Beaubourg, and with a balcony running the length of the 25 square meter space, views of the rooftops of Le Marais and steps from several Métro stations, not to mention Le Centre Georges Pompidou! Price: 275,000€, but renovation was necessary. No matter. Jane was ready to move in. She thought she had found the perfect pied-à-terre.
The third apartment had the most potential — on the third floor of a 17th-century building and yes, on rue des Coutures Saint-Gervais, but a little more than she hoped to spend. Did it have a view on the garden, we wondered? We couldn’t wait to see it and stepped up the appointment.
The front of the building showed damage to the stucco. The agent assured us the repair had been voted and paid for. The interior courtyard and stairwell was in disrepair, but oozed charm and potential. We trekked the three flights up — no elevator. At the top of the landing was the door leading to the apartment, and yes, it faced the street. From the front door, a long narrow corridor led to a 30 square meter space with two large windows, between them hidden under plaster, a huge 17th-century wooden beam…and yes, a perfect view on the garden and the Musée Picasso. Heaven. Pure heaven. It’s the perfect height, just above the trees, with views on the museum, the garden and the rear park, with views of rue Vieille du Temple and adjacent streets. Price: 318,000€, and renovation necessary, including exposing the ancient beams.
We gasped! Could Jane afford to go the extra mile? Would it be worth it? Which property would she be happier owning and which would be a better rental and better long-term investment?
Hands down, even the competing agents agreed. The view on the garden is worth its weight in gold. Jane decided that if she could afford it, she’d make an offer on it.
The day after, Jane visited the lenders and both told her she could afford the property on rue des Coutures Saint-Gervais! Quickly an offer letter was written and submitted.
As I write this, we have no news from the seller (on vacation)…and sit on ‘pins and needles’ waiting for a response or counter offer. Meanwhile, the Interior Designer (Martine di Matteo) and our favorite contractor are scheduled to visit it to determine the renovation potential and expense.
We’re confident Jane will succeed and more than fulfill her dreams…as she’s also fulfilling mine, having coveted that tiny spot on the Paris map for so long!
Le Musée Picasso
The Musée Picasso is an art gallery located in the Hôtel Salé in rue de Thorigny, in the Marais district of Paris. The hôtel particulier that houses the collection was built between 1656 and 1659 for Pierre Aubert, seigneur de Fontenay, a tax farmer who became rich collecting the gabelle or salt tax (the name of the building means "salted"). The architect was Jean Boullier from Bourges, also known as Boullier de Bourges; sculpture was carried out by the brothers Gaspard and Balthazard Marsy and by Martin Desjardins. It is considered to be one of the finest historic houses in the Marais.
The mansion has changed hands several times through both sales and inheritances. The occupants have included the Embassy of the Republic of Venice (1671), then François de Neufville, duc de Villeroi; it was expropriated by the State during the Revolution; in 1815 it became a school, in which Balzac studied; it also housed the municipal Ecole des Métiers d’Art. It was acquired by the City of Paris in 1964, and was granted historical monument status in 1968. The mansion was restored by Bernard Vitry and Bernard Fonquernie of the Monuments Historiques between 1974-1980.
The Hotel Salé was selected for the Musée Picasso after some contentious civic and national debate. A competition was held to determine who would design the facilities. The proposal from Roland Simounet was selected in 1976 from amongst the four that were submitted. Other proposals were submitted by Roland Castro and the GAU (Groupement pour l’Architecture et l’Urbanisme), Jean Monge, and Carlo Scarpa. For the most part, the interior of the mansion (which had undergone significant modifications) was restored to its former spacious state.
In 1968, France created a law that permitted heirs to pay inheritance taxes with works of art instead of money, as long as the art is considered an important contribution to the French cultural heritage. This is known as a dation, and it is allowable only in exceptional circumstances. Dominique Bozo, a curator of national museums, selected those works that were to become the dation Picasso. This selection was reviewed by Jean Leymarie and ratified in 1979. It contained work by Picasso in all techniques and from all periods, and is especially rare in terms of its excellent collection of sculptures. Upon Jacqueline Picasso’s death in 1986, her daughter offered a new dation. The collection has also acquired a number of works through purchases and gifts.
Picasso once said "I am the greatest collector of Picassos in the world." He had amassed an enormous collection of his own work by the time of his death in 1973, ranging from sketchbooks to finished masterpieces. The Musée Picasso contains more than 3000 different works of art by Pablo Picasso including drawings, ceramics and paintings. This is complemented by Picasso’s own personal art collection of works by other artists, including Cézanne, Degas, Rousseau, Seurat, de Chirico and Matisse. It also contains some Iberian bronzes and a good collection of primitive art. One of the most impressive aspects of the museum is that it contains a large number of works which Picasso painted after his seventieth birthday.
The museum has also made a real effort to present accompanying information. For example, the work of cartoonists of the time who mocked or caricatured his work is displayed with Picasso’s work from the 1950s. There are a few rooms with thematic presentations, but the museum largely follows a chronological sequence, displaying painting, drawings, sculptures and prints. Other items on display include photographs, manuscripts, newspaper clippings and photographs to provide additional contextual information.
The second floor has a special area set aside for temporary exhibitions and prints. The third floor contains the library, the documentation and archives department (reserved for research), and the curator’s offices.
Jean Clair is the museum’s current director.
French Vineyard Property Prices Increase
Champagne and Bordeaux regions see price surges. Vineyard prices are up 11% on last year
If you’re dreaming of owning your own French vineyard this year take note: the price of vineyards in France rose by 11% last year, averaging around €95,000 per hectare, but not all regions were celebrating.
The overall price growth can primarily be accounted for by the Champagne and Bordeaux regions, while prices in other regions remained stable or went down.
In the Champagne region prices increased by 17%, and Bordeaux’s numbers were also up by 13%.
There has been a general upturn in confidence beyond the Champagne region, mostly due to the export growth of French wine, despite a national reduction in wine consumption.
Consequently, vineyards where most of the production is exported have received the greatest boosts, such as in Cognac, where 95% of its production is exported. After years of floundering, prices grew 17% in this region last year, reaching as much as €21,500 per hectare.
Conversely, those that rely primarily on domestic consumption for their sales encountered difficulties.
Most of the south western regions saw a downturn in fortunes, despite some revival in certain vineyards.
Vineyards in Languedoc-Roussillon and the Alsace are reported to have decreased by around 4% in value in less than four years.
In the wake of such difficulties, the French government (in conjunction with the EU) is proposing a radical shake-up of the wine production industry which could involve a change in the labelling and
assification of wines to make them more accessible to consumers.
Consider France as a Property Investment
By Parmdeep Vadesha for http://www.americanchronicle.com
From luxury investment spots like Cannes, Frejus and St. Tropez to the winter slopes in the French Alps, property in France is highly diversified. You can invest in a luxury villa or apartment and gain a lucrative profit from a combination of rental sales and capital appreciation.
Many areas in France have a great potential for property investment. Depending on your budget and needs, there are various schemes to choose from for investing in French property. Thus, prime properties in France can be purchased at prices well below market price.
One option is buy to let, which is where an investor purchases a new build or refurbished property and leases it to a permanent tenant, thus earning rental income on a monthly basis while the property goes up in value. With property prices in many areas of France much lower than in UK, many Britons are considering French property as an investment by purchasing houses and apartments and earning from the rental income. In some cases investors purchase these properties off plan. Despite the fact that you are purchasing into a yet-to-be-constructed property, buying off-plan offers the least cash shell-out and at a very competitive price in most cases. Furthermore, buying off-plan means that the property will be brand new, thus making maintenance and running costs minimal while offering excellent rental and resale profitability.
To read the entire article, visit http://www.americanchronicle.com/articles/66925
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.
• July 16, 2008 10:30 PM ET/PT
• July 17, 2008 2:30 AM ET/PT
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 l
ight, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts
COST: 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]
Fractional Property Offerings
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
|Paris: LE PETIT TRESOR
|Paris: CHEZ LA TOUR
|Languedoc-Roussillon: MAISON BLEUE
|Meaux: CHÂTEAU LIVING FRANCE
|Nice: ON THE COURS SALEYA
For more details and pricing information, contact [email protected]
Adrian Leeds, of Parler Paris and French Property Insider and John Howell, The International Law Partnership, Present the…
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g and Investing
in France Real Estate Conference
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Upcoming Conferences in 2008:
Living and Investing in France Real Estate Conference
Date: July 26-27, 2008
Location: An Alliance Française of San Francisco Special Event!
Don’t miss our 22nd Living and Investing in France Real Estate Conference! Learn how to live and invest in France…profitably.
* Special Note: Special Friends pricing ends July 14th!
Single Person Seminar $427, Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends Save $50, You Pay Only $377
Second Person $327 (Add Your Spouse, Partner or Friend), Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends, Save $50, Second Person Pays Only $277
To learn more and reserve your place, click here: http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html
For more information, email [email protected]
Living and Investing in France Real Estate Conference
Date: October 11-12, 2008
Location: Paris Chez Jenny
Times: To Be Announced
Registration Fee: To Be Announced
For more information, email [email protected]
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 Global Money Services: 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 September 9, 2008, and every second Tuesday of the month.
Note: There is no meeting in August.
HOT PROPERTY PICKS: Ninth Life
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, 9th Arrondissement, 3 rooms, approx. 52m²
In a magnificent Haussmannian building in a charming street, this unique apartment is more like a house, and has been renovated. High ceilings and large windows. A coup de coeur — view it quickly!
Asking Price: 342,000€ + 2.5% Finder’s Fee
***Paris, 9th Arrondissement, 3 rooms, approx. 63m²
On the 4th floor of a beautiful Haussmannian building with elevator. A large living room, one bedroom with the possibility for a second, separate kitchen, bathroom with separate toilet, cellar. Lots of sunshine and absolutely quiet.
Asking Price: 472,000€ + 2.5% Finder’s Fee
*** Paris, 9th Arrondissement, approx. 72m²
On the 5th floor of a traditional building with elevator. Large living room, two bedrooms, American-style kitchen, bathroom, separate toilet, cellar, balcony. Near stores, schools, métro. Very bright.
Asking Price: 678,000€ + 2.5% Finder’s Fee
LEASEBACK NEWS FROM IMOINVEST
BALCONS DE CABOURG
France, Brittany / Normandy, Cabourg
Studio 22m² to 22m² €95,000 to €95,000
One Bedroom 27m² to 35m² €117,000 to €153,000
Two Bedrooms 34m² to 41m² €147,000 to €175,000
Three Bedrooms 47m² to 49m² €203,000 to €211,000
IMMEDIATE DISCOUNT UP TO: 30.00%
Tourist residence located in Cabourg, a commune of the Calvados department, in the Basse-Normandie (Lower Normandy) region of France. This development offers easy access to the beaches, area golf courses and racing tracks and is close to shops.
Units will be for sale under the traditional Quasi Hotel/Leaseback investment scheme where the investor will receive a contractually guaranteed rental yield and have the possibility to use their property for up to 6 months per year! In addition, we are proud to announce and bring to our investors the new "Cashback" investment option where instead of being paid rent over a period of 9 years, the total amount (9 years worth of rent) is paid up front to the investor upon building completion. It will be up to the investor to decide which options to go for.
This residence will be fully managed therefore investors will not have the hassle of looking for tenants or upkeep of the grounds! Under the Quasi Hotel/Leaseback investment scheme, owners rents will be guaranteed by a commercial lease therefore even if your apartment is not rented out, your rents will be paid. Investors will have the option of vacationing within their property for up to 6 months per year. This is an exceptional way to build-up your property assets with freehold benefiting from a privileged location. Investment is from 95,000 euros depending on availabilities. Tailor-made financial solutions are available and our bilingual staff is here to serve you. Our partner banks are familiar with Quasi Hotel and "Cashback" property purchases and understand the needs of non-resident investors.
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.
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]
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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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2. Then order one or more guide(s) and use the promotion
code "ED762." This promotion code gives you 10% off your total
3. If you order two or more guides, then an additional 15% will be
taken off automatically. There is no promotion code needed.
Here is the special "coupon" Web link just for you:
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 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.
Les Portes de Notre Dame
Rue des Trois Portes, 5th Arrondissement
Latin Quarter — Two Steps from Notre Dame
One-Bedroom Duplex, Sleeps up to 4
Les Portes de Notre Dame is a charming and spacious one-bedroom duplex apartment centrally located just one block from the Seine and only a few steps from the cathedral of Notre Dame…
Reserve now! Visit adrianleed
or email: [email protected]
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Copyright 2010, Adrian Leeds®
Adrian Leeds Group, LLC, http://www.adrianleeds.com