Property and Holiday Markets Special in France
The Christmas Market at Strasbourg
December 18, 2008
Bonjour French Property Insider Subscriber,
As we wind down 2008, with hopes for a brighter 2009, we have continued good news to report vis a vis the French property market. While much of France has seen property prices soften, Paris continues to remain strong, particularly in comparison to the rest of the world. And not only are interest rates down, but banks are still lending!
So, if you don’t know where to invest these days, seriously consider Paris property. There is simply very little property on the market in the world which is less of a risk! Read on to learn more.
Today we focus on the area of France known as Alsace — famous for its fabulous Christmas Markets and one of the most beautiful regions. Strasbourg is the premier city, reeking of old-world charm and stunning architecture. Bordering Germany and steeped in German roots, the region has a character all its own. Learn more in today’s FPI.
Next week on Christmas Day, we will delight you with a recount of the past year’s best articles from French Property Insider. Then on January 1st, look for Volume VII, Issue 1 for 2009!
The entire team at French Property Insider and the Adrian Leeds Group, LLC wish you a very merry Christmas, an extraordinarily happy Chanukah and a splendid New Year!
Editor, French Property Insider
Email: [email protected]
P.S. We’re planning our upcoming Living and Investing in France Real Estate Conference in New Orleans March 21-22 now! Soon you’ll be able to reserve your seat, but if you’re at all interested in attending, be sure to email Schuyler Hoffman at [email protected].
Volume VI, Issue 51, December 18, 2008
In this issue:
* Update on Paris Property Prices
* Property Market in Paris Still Strong
* What You Can Do With New Interest Rates
* Announcing the Next LIF Conference
* Discover the Christmas Markets of France
* What Strasbourg Has to Offer
* Fractional Ownership Offerings
* Today’s Currency Update from Moneycorp
* Hot Property Picks: Amenable Amiable Alsace
* French Property Mortgage Assistance
* Parler Paris Apartments — Introducing La Table du Roi!
* Parler Paris Après-Midi: When and Where We Meet Next
* Managing Your FPI Subscription
Monthly Statistics from July 2008
The latest figures as reported by the Chambres de Notaires de Paris for sales volume, average prices and the evolution of prices shows that while sales volumes were down, prices and the natural evolution of prices remained quite stable.
At the end of July 2008, in the Ile de France, sales volume was down by -14% between July 2007 and July 2008, but prices were up by 4.6%, compared with 7.3% in July 2007 and 12.7% in July 2006.
While for the year, the Grande Couronne only had an increase of 1%, Paris remained stable with an increase of 10%. For July, Paris property rose 10.1% compared with 8.4% in 2007.
For an evolution since 1991 of Paris property prices, download the following pdf charts:
1. History of prices per square meter of resale apartments in Paris by district since 1991
2. Indexes of resale apartments in Paris by district since 1991
The Property Market Remains Strong in Paris
By Matthieu Cany
From Article Dashboard www.articledashboard.com
Although prices have slightly decreased over the last few months in the French Capital, it is more a symbol than a real downturn; it is indeed a 1% slow down and the quarter to quarter difference remains positive, amounting to +2.6%. As a result, one square meter now costs € 6,283 while it was worth € 6,362 during the second quarter 2008.
We can consequently still refer to Paris as one of the most secure property market in the world. The city still ranks European leader in terms of security of investment indeed and is still known for being a global access point for European property investment. The Parisian market is still marked by a relatively rare offer in the most sought-after areas. What may explain the fact that the credit crunch did not hit Paris as violently as London, for example is its greater sectorial diversity.
However, the tendency is not the same in central Paris as in the suburbs. Since 2007, the property market in Paris has been a two-tier system indeed. Last April, the suburbs were lacking of buyers whereas prices in the centre increased…
Editor’s Note: To read the entire article please go to www.articledashboard.com
If it’s a new mortgage, then now is a perfect moment to take advantage of lower interest rates!
Crédit Foncier is offering 3, 5 and 25 year fixed rate loans as low as 4.95%!
Banque Patrimoine et Immobilier is offering 5 to 18 year fixed rate loans for the first year at 4.6% and 19 to 25 year fixed rate loans for the first year at 4.75%, plus a 5 year fixed rate of 4.99% then reset every 5 years!
You can refinance an existing property and can even apply for a larger amount for a longer term. Although there are usually Notaire fees payable on securing a new mortgage on a property, often, the charges can be absorbed into the loan itself.
And if you already own property in France, why not release equity from your current property to purchase another one?
Mark your calendars and start searching for great airfares to come to the "Big Easy" (New Orleans) for the 23rd Living and Investing in France Real Estate Conference!
Living and Investing in France Real Estate Conference March 21-22, 2009 New Orleans, Louisiana Stay tuned for more information or email: [email protected]
Compiled By Schuyler Hoffman
Paris and France have always been known for their street markets. One of the best times of the year for markets, however, is during the holidays. Throughout France there are a number of well known Christmas markets. Paris hosts several: Marché de Noël à la Maison de l’Alsace from November 29 2008 to Decemb
28, 2008, Champs-Elysées/Louvre; Le Village du Père Noël, place Saint-Germain-des-Prés
from December 5 2008 to December 31, 2008, Saint-Germain-des-Prés; Marché de Noël from November 28, 2008 to November 30, 2008,
Montmartre/Pigalle/Trinité; and many others.
Special Christmas markets abound throughout:
Strasbourg – Nov. 29 to Dec. 24 – This is one of the largest Christmas markets in France, and the setting in front of Strasbourg Cathedral is breathtaking. In its 431st year, this market in Alsace is the oldest Christmas market in France. Be sure to visit La Petite France, a cozy neighborhood of timbered fairy-tale buildings with Christmas shops and a gingerbread bakery.
Mulhouse – Nov. 21 to Dec. 31 – This Alsatian market features shopping while sipping mulled wine and "bredele," or Christmas biscuits. The tourism office offers a package, "Discover Christmas in the Land of Christmas Carols and Fabrics," which features two nights’ hotel stay, a dinner and entry to the Textile Printing Museum. For more information, visit the Mulhouse Tourism Office (www.ot.ville-mulhouse.fr) or call 033-389-35-48-48.
Alsace – The Alsace region in general is home to 35 Christmas markets. While it’s impossible to list or detail them all here, be sure to check with the Alsace Tourism Office for details (www.tourisme-alsace.com).
Brest – Nov. 29 to Dec. 24 – The market in this small city (population 150,000) in Brittany features chalets selling Christmas wares. For more information, visit the Brest government site (www.mairie-brest.fr, in French) or call 033-298-44-24-96.
Clermont-Ferrand – Dec. 2 to 24 – This market is in an Auvergne city with a beautiful gothic cathedral. While you’re there, be sure to sample the local coq au vin. For more information, visit the Clermont-Ferrand Office of Tourism.
Besancon – December – The Christmas Fair is set in this adorable Franche-Compte village, also the home to an astronomical clock with 30,000 parts and several beautiful fountains. For more information, visit Franche Compte Office of Tourism (www.franche-comte.org).
Orleans – December – This wonderful Loire Valley city, and home to Joan of Arc, hosts a Marche de Noel. For more information, visit the Orleans Tourism Office (www.ville-orleans.fr).
Menton – December – The 15-day Worldwide Christmas festival in this charming Riviera town features lights, shows, the Christmas market and nativity scenes. For more information, contact the Menton Office of Tourism (www.villedementon.com).
Strasbourg is the ultimate European city. It has flavors of both France and Germany, and sits right on the border of the two countries. It’s picturesque "la Petite France" neighborhood looks like something straight out of a fairy tale book, a riverfront neighborhood with timbered buildings accented by colorful flower boxes.
The home of the European Parliament, this often-overlooked and surprisingly cosmopolitan destination hosts France’s oldest Christmas market and features a stunning cathedral. In fact, Strasbourg has often changed hands between the French and Germans over the centuries.
The Black Forest and the legendary Rhine River are just at or beyond the city’s edge. There are several wonderful daytrips here into France’s Alsace or Germany.
This is one of the best areas in France when it comes to delectable cuisine, and that’s saying quite a bit considering this is, well, France. The dishes here have a boldness that is reminescent of the German roots, while there is attention to quality and detail that is the epitome of the French gourmet philosophy.
Strasbourg is so huge, one could spend days exploring it. There are certain attractions here you don’t dare miss, however, such as:
* Strasbourg Cathedral is one of Europe’s most beautiful example of gothic architecture. The stunning pink sandstone facade is quite unique and breathtaking. Be sure to wander inside, where intricate carvings captivate. Each day at 12:30 p.m., visitors can see the circa-1800s astrological clock with its lengthy show.
dral is also a hub of activity, with shops and restaurants nearby. The courtyard out from hosts the city’s immensely popular Christmas market.
* La Petite France is easily Strasbourg’s prettiest and most enchanting neighborhood, and arguably one of the best neighborhoods in all of France. Stroll along its streets, along bridges over the Ill River. Breathe in the scent of fresh-baked gingerbread or the inviting aromas from the restaurants. Gaze at the timbered buildings, bursting with blooming plants that earned this city the prestigious four-flower ranking.
* Shopping and people-watching at Place Kleber, a bustling square lined with popular shops and a hub of activity.
Editor’s Note: To read the entire article please go to www.gofrance.about.com.
Fractional Property Offerings from French Property Fractional
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
Paris: La Rsidence Luxembourg
Paris: LE PALACE DES VOSGES
|Paris: LE PETIT TRESOR
|Paris: CHEZ LA TOUR
|Languedoc-Roussillon: MAISON BLEUE
|Meaux: CHTEAU LIVING FRANCE
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: Moneycorp Currency Conversion Tool for up to the minute conversions of all major currencies.
Compare currency values easily and quickly by visiting:
www.Moneycorp.com/agent/parlerparis/Currency Convertor by Moneycorp Global Money Services/Currency Online.asp
Charts: www.Moneycorp.co.uk/members/charts.asp. The charts 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.
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 www.adrianleeds.com/frenchproperty/consultation.
This week we focus on properties throughout Alsace. Here are just a few we chose to present to you:
***Haut-Rhin, Montreux Chateau: 5-bedroom, approx. 200m²
This superbly maintained older property exudes character and charm. A large house, it contains eight rooms and five bedrooms. The first floor includes the kitchen, which is partially open to the dining room and a veranda; living room; and a half bath. There are three bedrooms with bathrooms on the second floor. And on the third floor there are two bedrooms and a water closet. There are a number of out buildings and a swimming pool for summertime enjoyment.
Asking Price: 420 000€ + 2.5% Finder’s Fee
***Haut-Rhin, Tarbes: 5-bedroom approx. 400m²
Old farmhouse renovated to 400m² of livable space, offering many possibilities. The ground floor consists of a beautiful, large room of 50m² with a fireplace, large bays that open onto the garden, suitable kitchen, two bedrooms, a workshop, a storeroom, and a large living room or gaming room. The second floor is a splendid, luminous space of 60m² with a living room and American kitchen, large balcony with a view of the Pyrenees – three bedrooms, a bathroom and a dressing room. The grounds of 3000m², approximately, are planted in fruit trees. There is a swimming pool and even a kitchen garden. Just a short drive from Tarbes ensures everything you need is just minutes away.
Asking Price: 395 000€ + 2.5% Finder’s Fee
***Haut-Rhin, Altkirch: 3-bedroom, approx. 150m²
This is a charming, small Alsasian farm property with aprroximately nine acres of land. The first floor consists of the kitchen, dining area, living room, and water closet. There are three bedrooms on the second floor and one bath and a water closet. There is a large barn with parking, and a small shed.
Asking Price: 395 000€ + 2.5% Finder’s Fee
***Haut-Rhin, Dannemarie: 7-bedroom (14 rooms total), approx. 425m²
This huge manor house is situated in a village with all amenities, 45 minutes from Basel. It offers space, light and old world charm combined with modern comforts and is located in a green setting.
Ground floor: huge main entrance hall, sitting room, dining room, kitchen opening onto a balcony and garden, three rooms used partly for professional purposes with a separate entrance.
Second floor: large sitting/dining room of 65m2 opening onto a terrace, 2 bedrooms, kitchen, period bathroom, wc.
Third floor: three bedrooms, shower room, wc, attic.
There is a full basement with 2-car garage, laundry room, boiler room, and workshop. There are outbuildings with garages, and a small house with three rooms. The garden, with trees, opens onto a neighboring meadow, with a small lake, and vegetable garden. There is
horse stabling nearby.
Asking Price: 850 000€ + 2.5% Finder’s Fee
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.
HELPFUL CONVERSIONS FOR REAL ESTATE
1 square meter = 10.7639104 square feet
1 hectare = 2.4710538 acres
For more conversions, refer to: www.onlineconversion.com/
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