Pretty Paris Poised for Property Price Plus
Paris by Bike…
(FOR SUBSCRIBERS ONLY)
July 5, 2007
Bonjour French Property Insider Subscriber,
Today we’re taking a broad look at several different topics, all of which will affect your decision making vis a vis property in France. Paris’ newest initiative to double the number of bikers on the streets means that we have a bright future in the City of Light where the property values will continue to climb along with the aspirations of its residents. Read all about how "Vélib" will liberate Parisian lifestyles and clean up the city.
Everyone is still talking about President Nicolas Sarkozy’s brave and bold moves to reduce taxes and encourage home ownership, spurning a strong future for the property market. Today’s article ties up some loose ends on the subject.
On a similar note, changes in lending practices will encourage home purchases, too…and all this means you should get in while you can and ride the wave to a bigger return on investment.
More news about Fractional Ownership should spark your interest and so should our own project proposed by Paris Home Shares Steve Navaro — a two bedroom apartment in Le Marais on a quiet garden, but in the heart of the Saint-Paul district. Learn why it makes sense.
The U.S.-based publication France Today is offering a free trip to Guadeloupe when you subscribe, so don’t delay! France Today and France Amérique are proud sponsors of the Living and Investing in France Real Estate Conference in San Francisco, to which I am headed bright and early tomorrow morning. We will be welcoming a packed house of 75 at the Alliance Française on Saturday afternoon…a record-breaking conference, the 18th of its kind that we’ve done.
If you couldn’t make this one, don’t despair…our next one is scheduled for right here in Paris on October 13th, just prior to the Welcome to France "I’m Not a Tourist" Fair here in Paris on October 14th. Scroll down to see these brief announcements and set your recorders for the upcoming episode on House Hunters featuring one of our clients and their beautiful Marais apartment on July 20th and 21st!
The next issue of FPI will report on the conference and I’ll be writing from New Orleans where I will be celebrating my mother’s 90th birthday on July 13th and missing the fireworks here at the Eiffel Tower on Bastille Day. Until then…
Editor, French Property Insider
Email: [email protected]
P.S. Be sure to read about yesterday’s gathering at Après Midi — a congenial group around one sprawling table, by visiting: http://www.adrianleeds.com/parlerparis/apresmidi.html and don’t forget, there’s no gathering in August while we take a Summer break.
Volume V, Issue 26, July 5, 2007
In this issue:
* Biking Through Paris
* French Property Prices on the Rise
* Sharing Paris Property
* Celebrate Bastille Day for a Chance to Win!
* Lending Changes Increase Attraction in Overseas Property
* Expatica Welcome to France Fair
* FPI on House Hunters International – New Dates and Times!
* Next Living and Investing in France Conference, October 13, 2007, Paris, France
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: September 11, 2007
* Hot Property Picks: Paris…One, Two, Three
* Leasebacks: Kube Rooms and Bars, France, Mediterranean Coast, Saint Tropez
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments
The City’s More Beautiful by Bike
By Adrian Leeds
That’s what the publicity wants us to believe…that the city is more beautiful when seen from a bicycle. It’s the newest innovation by the City Hall of Paris to reduce the pollution, reduce the traffic and encourage young and old alike to hop atop a bike…a relatively free one at that!
The new program called "Vélib’" is putting thou
sands of rental bikes
stationed at 750 locations spotted all over the city every 300 meters. The plan is to have 1451 stations by the beginning of 2008. Renters may be as young as 14 and there’s no limit to time of usage or time of day.
Meanwhile, bike paths are still in production to reach its goal of 371 kilometers including those streets closed to motor traffic Sundays and holidays to pedestrians and bikers.
First tested in Lyon beginning in May of 2005, the program offers the first half hour of biking free with incremental increases every subsequent half hour: 1€ for the second half hour, 2€ for the third and 4€ for each additional half hour. There is a subscription fee of 150 euros to participate in the program which of course, secures the city’s cost of the bicycles.
A yearly membership is a bargain at 29€, but you can also subscribe to either a one-day (1€) or one-week plan (5€), both of which can be purchased at the automated rental stations, in eight languages…designed for tourists, of course. Unfortunately, in all cases, the 150€ security deposit is required, by check or credit card and RATP Navigo members may make use of their Navigo card by combining the payments.
It will be interesting to see if the tourists and Parisians hop on the biking bandwagon to help make Paris a cleaner, quieter, less polluted and safer city by turning in their vehicles for this two-wheel personally-powered method of transport. The city hopes to double the number of cyclists, but will that really mean it will be balanced by a reduction in the number of cars?
I sure hope so, for Paris and everyone’s sake.
For more information visit http://www.velib.paris.fr or call 01.30.79.79.30.
When he was elected earlier this year, new French President Nicholas Sarkozy promised a major break with the past. With pledges to take on vested interests, get the country working longer hours and transform France into a land of property owners, not to mention a general image as a right-winger not afraid to put some noses out of joint, he has quickly earned the moniker of the French Margaret Thatcher.
The new president prefers comparisons with Tony Blair, a man with whom he enjoyed the briefest of working relationships, but the gentleman has shown himself not for turning on his key pledge to end the 35-hour week, but the announcement of tax breaks for those who work overtime, Homesworldwide reports.
According to the article, this move could in itself be the catalyst for the housing market. By stimulating growth – which should then help reduce unemployment – as well as putting more money in the pockets of those who do work longer, the growth in wealth will place an increasing number of people in a position to invest in property in France. With this, so the article contends, will come increases in property values.
In the light of this, some may wonder what this means for buy-to-let investors looking at France as a possible investment. One issue is the question of who investors are renting to. If the market for buy-to-let was all about the domestic market, this could see a significant decline as more and more potential customers end up buying their own property instead.
However, as Hetal Shah of Investors Provident states, the buy-to-let market in France is heavily based on tourism. He stated: "France has always been a very well known tourist destination," adding that it still plays a "very, very big part" now. While domestic demand may soar over the next few years if Mr. Sarkozy gets his way, Mr. Shah offered no reason to believe the tourism market might diminish. The one issue which might arise is that a general rise in property prices could make buying in tourist areas dearer, although this may depend on whether enough homes are built in such areas to meet demand.
Besides this, however, there are other factors that may be considered when gazing into the oracle over the future of the French property market. One of these is the improvement of the French rail networks, with more high-speed lines being built to provide a service that many countries (not least Britain) will envy.
"I think with the rail link and new infrastructure you probably will see property prices rise [in the areas with improved infrastructure]," said Mr. Shah, although he emphasized that this would not be by vast amounts.
Nonetheless, he added, there surely will be an impact, as he explained: "Any kind of interest definitely does have an impact because people who have been very skeptical about those areas will start to see that there is more new development coming in and more infrastructure means more money coming in to the area as well."
On the other hand, Mr. Shah noted, lesser-known parts of France would not suddenly become property hotspots. The evidence, he stated, was that enhanced rail connections had much less of an impact on such locations than low-cost airlines.
In the long run, Mr. Sarkozy’s drive to make France a nation of property owners may succeed and in doing so have an impact in ways that will affect the buy-to-let investor, such as snapping up properties that would otherwise be available to buy and making such buying more expensive. But it remains to be seen if the French buy into the project or remain wedded to a renting culture. Whatever the outcome, investors looking at France still need to consider other factors when choosing where and how to invest.
A Bit of France, A Fraction of the Cost
By Simon Spalding
Hunter’s Hill resident Patricia Farrell loves France and wanted to own a small bit of it.
With her heart still in Sydney, the former journalist-turned-property specialist came up with the idea of owning some of the beauty of France without breaking her bank account.
Instead of buying a house on her own, she got together with five other couples and bought a house. With the success of her own house-share, she has now started an online site to help others do the same.
The concept is known as "fractional ownership," and Ms. Farrell said it’s something that tends to be unfamiliar to the Australian property market.
"Basically a group of prospective buyers who share the same interest in a holiday location will agree to buy the property, dividing the cost and amount of time spent in the house per year equally between them," she explained.
Ms. Farrell said she has always loved travel and property, and after hearing about fractional ownership decided to give it a go.
"After advertising what I’d done, I received emails from 50 people wanting to get involved," she said.
She now sees this as an exciting and cost-effective way of owning a property anywhere in the world.
"It doesn’t matter if you want a holiday retreat an hour’s drive away from your home, or on the other side of the world – the principle is the same," Ms. Farrell said.
The French property cost the six couples $67,000 each – including furnishings and accommodation set on a roster basis.
"Each shareholder gets to use the house for two months of the year – which is more than we can use at this time of our lives, anyway."
Editor’s Note: Paris Home Shares offers Fractional Ownership of select apartments in premium Paris locations. Our newest offering, LE JARDIN SAINT-PAUL, features a spacious two-bedroom apartment in the historic and centrally located Marais district. For more information, visit http://www.adrianleeds.com/frenchproperty/consultation/sales/fractional/jardinstpaul.html or contact Steve Navaro at [email protected]
Win a Trip for Two to the French Caribbean!
Celebrate Bastille Day with France Today!
Subscribe or renew your subscription to France Today, for your chance to win one of our wonderful prizes!
Grand Prize – A Week for Two in Guadeloupe
Spend a week at Club Med — La Caravelle, a family paradise located on the finest white-sand beach in the French West Indies. The prize includes round-trip airfare from a major gateway, seven nights’ accommodations, all meals, beverages, sports and entertainment. Value: $6,000.
Plus 6 other prizes to be won.
For details visit: http://www.francetoday.com
Editor’s Note: Special thanks to Mr. Louis F. Kyle, Publisher of France Today and France-Amérique, who has generously provided publicity and advertising support for the conference, and Hélène Goupil who will be presenting at the conference, as well as distributing free copies of these illustrious publications to conference attendees.
Resurgent Interest in French Property Expected After Recent Lending Term Changes
Overseas property market experts are anticipating heightened interest in French properties following recent policy changes introduced by the country’s finance lenders.
In the past, buyers from the United Kingdom and Ireland could only expect to be offered a maximum loan-to-value (LTV) of between 80 and 85 percent, however this figure has now risen to 90 per cent in recent times.
This development means that British property investors looking to buy a holiday home, apartment, leaseback property or retirement home will only be required to front up with a deposit of 10 percent of the property value.
Commenting on the recent figures, overseas mortgage manager for Assetz Finance Katy Hepworth says: "This is a long-awaited improvement in French borrowing, and with rates currently starting at 4.45 per cent and mortgage terms of up to 30 years available, these 90 per cent LTV mortgages are extremely affordable."
The comments come soon after the holiday group First Choice reported that skiing holidays in France remain highly popular with Britons, prompting Overseas Property experts to advise that investment in holiday rental accommodation surrounding the leading resorts is still financially beneficial.
Overseas Property Centres recently began featuring apartments in the Alpes Côte d’Azur and villas in Languedoc
ns of France on the back of resurgent interest in French property. OPC stated interest in French property will remain strong due to France’s exceptional climate and lifestyle, and the new trends in LTV will only enhance a resurgent interest in all French property.
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.
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.
French Property Insider to be Aired on House Hunters International!!
New Dates and Times!
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
• July 20, 2007 10:30 PM ET/PT
• July 21, 2007 2:30 AM ET/PT
Editor’s Note: Be sure to read the entire 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.
Soon to be announced on http://www.adrianleeds.com/frenchproperty/conference/ or for more information, email Schuyler Hoffman at [email protected]
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 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 11, 2007, and every second Tuesday of the month.
Please note: There will be no meeting in August.
HOT PROPERTY PICKS: Paris…Un, Deux, Trois
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, 1st Arrondissement, 1 Bedroom Apartment, approx. 56m²
In a beautiful 18th century building near Palais Royal, on the fourth floor with elevator, this bright apartment is in perfect condition. Living room, bedroom, bathroom. Renovated with wood floors, double glazed windows.
Asking Price: 535,000 € + 2.5% Finder’s Fee
*** Paris, 2nd Arrondissement, 2 Bedroom Apartment, approx. 60m²
In the heart of Montorgueil, on the second floor of a lovely older building with elevator. Living room, 2 bedrooms, bathroom, separate kitchen, cellar. Engaging view with southern exposure. Wood floors, moldings, fireplace.
Asking Price: 515,000 € + 2.5% Finder’s Fee
*** Paris, 3rd Arrondissement, 3 Bedroom Apartment, approx. 100m²
A bright, quiet, well designed apartment with a terrace. Large living room with four windows on the terrace, large American style kitchen, 3 bedrooms including one master with bathroom and separate toilet, plus an office, another bathroom and separate toilet.
Asking Price: 890,000 € + 2.5% Finder’s Fee
LEASEBACK NEWS FROM IMOINVEST
KUBE ROOMS AND BARS
France, Mediterranean Coast, Saint Tropez
Studio 24m² to 30m² €326,000 to €581,000
One Bedroom 64m² to 93m² €1,107,000 to €1,498,000
Guaranteed Buy to Let – Leaseback
GUARANTEED RENTAL INCOME UP TO: 3.50%
LEGENDARY ADDRESS, FAMOUS ICE BAR
Following the exceptional success of the opening of The Kube, one of Paris’ chicest hotels, please welcome The New Kube, a luxury new residence at the gateway to Saint Tropez. This innovative resort is located 4 minutes from Saint Tropez harbour, 10 minutes from Gassin village, 8 minutes from Ramatuelle beaches and 1h and 15 min from the Nice Côte d’Azur Airport. Exuding the very best in quality and refinement this residence will be unique to this region.
The residence will comprise 41 rooms and suites of which 28 have a private garden, balcony or terrace in a landscaped sea view park. Private reception over a water pool leads you directly into the ambiance and experience that is The Kube. The entrance bar and reception room starts this experience, then in the lower levels discover the famous Ice Bar trade mark. From the roof top Sky Bar you will profit from the panoramic sea views over the bay. Resort facilities include a lounge-restaurant, a Sky Bar on the roof, an ice bar at garden level, a spa with massage, sauna and private swimming pool as well as a fitness room. In addition, the residence offers a deck with courtesy boat transfer available only to clients of the residence, from the private pier to either the Port of St Tropez or to one of the many beautiful sandy beaches such as Pampelone. Resort Kube offers a conference room with a capacity of up to 100 people. In addition, residents will have access to a private car park.
Excellent access will allow you to fly into either Marseille or Nice International Airport with only a short drive after, especially with the efficiency of the motorway and the new road into the area. Apartments will be finished to the highest standards using only the finest materials. Many will have views of the sea or into the spa gardens. This is a superb investment opportunity offering a guaranteed rental return and offers one week per year of personal usage!
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.
Let us help you secure a mortgage in France at a competitive interest rate. Visit http://www.adrianleeds.com/frenchproperty/loan for more information or contact [email protected]
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.
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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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urchase (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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