Studying Studios in the Sky
View from the Centre Georges Pompidou on a Clear December Day
(FOR SUBSCRIBERS ONLY)
December 15, 2005, Paris, France
Bonjour French Property Insider Subscriber,
December and August have a lot in common. You might not think so, since August is the height of Summer heat when all of Europe is on vacation and December is the height of Winter cold when all of Europe is home with the family. But, vis a vis real estate, both months are traditionally thought of as "bad times of year" to be searching for, buying or selling property.
The reason is the same — people are normally busy doing other more personal things, like vacationing or partying with their families and friends. Nonetheless, there is a school of thought from some professionals that these are the best times to be in the real estate market. We can attest to their reasoning…
Yes, there may be fewer properties for sale on the market, but the ones that are may be more anxious to sell and can be had at a better price. Yes, there are fewer buyers, but that makes the sellers more anxious and the competition lower.
A perfect example is an apartment that the price was agreed upon just this week in a 17th-century building on rue Roi Doré in the 3rd arrondissement. The apartment is comprised of two apartments, each in a different building which were unified at one time; the main part facing rue de Turenne and the other on Roi Doré. One side houses the kitchen and salon, the other, up a few steps, houses the bedrooms and bath.
The apartment, although in bad need of renovation, reeks with charm. Parquet floors throughout, beveled glass French doors, brick and tile kitchen, fireplaces…what I call "texture." No angle is 45 degrees — so typical of old buildings. The view from the main rooms looks directly onto Eglise Saint Claude, so there is privacy, light and beautiful views.
The sellers are elderly and handicapped and needed to move to an apartment with an elevator or ground floor as soon as possible. They purchased an apartment and then suddenly had no choice but to sell their current one immediately. Our client started the search process at the beginning of December and looked at over a dozen apartments. This one fit his needs and desires and budget best, not to mention the real "coup de coeur" upon entering.
An apartment of this kind would normally be quiet expensive, at about 8500 euros per square meter, or 800,000 euros, but because of the seller’s need to sell quickly an offer of 740,000 was accepted without any further negotiation. Any other time of year, might have made a big difference, as there would have been more buyers vying for the same property.
While we don’t expect you to hop on a plane this instant to take advantage of the next two weeks of December, we point this out because when you might logically think the best time to come is Spring or Fall, keep in mind that those times of year are expensive air fares and hotel rates, while December/January/February and July/August can be a bargain.
In today’s issue, as we wind down the year, we have many important tales to tell and properties to consider. Don’t miss a single article if you can help it — there is much to learn in planning for your next pied-à-terre in Paris or cottage in the country.
Editor, French Property Insider
Email: [email protected]
P.S. Coming soon…Parler Paris Apartments rental representation at adrianleeds.com/parlerparis/apartments. If you have a property ín Paris you’d like to keep booked and represented properly, please email Adrian Leeds at [email protected] for more information.
Volume III, Issue 48, December 15, 2005
In this issue:
* Pied-à-terre with a View
* Central Paris Becoming an Artifact?
* French Properties Measure Up
* Euro vs. Dollar Update
* Only Six Weeks to the Vive La France Show!
* 1000 Buildings of Paris at Paris Soirées Dinner
* France Aids New Orleans
* Commercial Property in France Benefits Sellers
* French Economy on the Upswing
* Upcoming Conferences
* Complete Relocation Solutions from FPI
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: January 10
* Hot Property Picks: Studios in the
backs: Luxury Apartments Near Charles-de-Gaulle
* Classified Advertising: Leeds Marais Apartment
Parties Communes à Jouissance Privative
All For One, One For All
By Adrian Leeds
An old friend living in a wealthy suburb in a high-rise with a breathtaking view of all of Paris decided that it was practical to find a "petit pied-à-terre" where she could stay a night or more in "the city" when trekking back to the burbs wasn’t convenient. Being spoiled by her view from home, she searched high and low for what she calls her "pigeonnier"(dovecote, garret, attic) to make her feel right at home in the "clouds"– her home suburb is "Saint-Cloud," so it’s only fitting she remain consistent!
I was familiar with the address of her new studio apartment in the 7th, but astounded by the level she sent me to — "take the elevator to the 8th floor and then walk up a flight of stairs to my ‘petite porte’." (Most buildings in Paris aren’t higher than six stories, thanks to Baron Haussmann’s strict height restrictions.*)
Once up the narrow wooden staircase and inside the petit studio that measures by "loi Carrez"** only 17 square meters, I was astounded by the view and the situation of the apartment. You enter into a full kitchen large enough to accommodate a small table with two chairs, full refrigerator, 2-burner stove, sink and microwave, that begins an L-shape leading to the main room off to the left. On the left side of the kitchen, a door with a window opens to a railed U-shaped path along the roof of the entire building affording views of the entire city.
In the night sky, the Eiffel Tower was sparkling diamonds, the dome of Les Invalides was never more golden, the lights from the Tour Montparnasse was almost blinding and Sacré Coeur was softly lit looking almost ethereal in the distance. The rooftops stretched for miles and miles. Down below were visible beautiful courtyards and gardens and we could see into many of the neighboring apartments’ large elegant salons. I was totally mesmerized.
Much of the actual space isn’t counted in the legal measurement of the apartment, because of the angled skylight one full length of the main room and other garreted parts of the tiny apartment. The main room had a fair size picture window with the same incredible view, a full bath under the eaves and lots of storage. A sofa bed, desk and a few tables completed the furnishings.
Everything she needed was there and because of the configuration, views and enormous amounts of light, 17 square meters suddenly felt like a townhouse. I’ve seen this on other occasions — when an apartment allows the outdoors in, suddenly the interior space feels like all of Paris.
One thing very unusual about the apartment, and the reason that she was able to purchase the apartment for half of the average per meter rate (!) in this most expensive area of Paris was the condition under which it was purchased: "Parties Communes à Jouissance Privative." These are common areas reserved for private use — parts assigned for the common use of all condominium owners, but enjoyment of which is restricted to one owner only. In this case, the roof! In other cases, it might be a garden adjacent to a ground floor dwelling or terrace.
Apartments of this nature are very difficult to find…what a pleasure to know someone so lucky!
"Muséification" of Paris
It is feared that the city of Paris is turning into a museum for tourists and Amélie nostalgists, while the real economic activity and 21st century development take place elsewhere in the metropolitan area. With some of the most stringent protection laws in the world, it is virtually impossible to build new buildings inside the city. Recent proposals by Paris’ new mayor, Bertrand Delanoë to gather renowned architects to build skyscrapers on the outskirts of the city center, have been met with strong opposition on all sides. Delanoë wished to scrap the building height limit dating back to Haussmann in the 19th century, and build upwards to compensate for the lack of space on the ground, as was done in Manhattan. The project also aimed to revitalise Paris in the 21st century, rivaling world cities like Shanghai, or even London where city planners have started building aesthetically acclaimed skyscrapers inside the City. The probable failure of the project may be seen as another sign of the "muséification" of the city of Paris.
The sale agreement relating to the purchase of a property must state the surface area of the property, in square meters. In 1996, a law was passed establishing a standard way of measuring that size, defining what is and is not "livable" surface area. For example, areas under a ceiling lower than 180 centimeters, typical in rooftop apartments, cannot be counted as livable space. To measure a property, a real estate agent or a certified expert is required. A measu
onforming to this definition is the "loi Carrez."
If after you purchase your property you discover that there is more than a 5% difference between the stated surface area indicated in your purchase contract and the actual surface area of the property, you have up to one year to contest the sale, and the seller is legally bound to reimburse you for the difference. If the loi Carrez was certified by an expert, this expert is similarly liable for the error.
Named for the author, Deputy Gilles Carrez, pictured here, enacted as Law 96-1107 on December 18, 1996.
Update: What Has Caused the Euro to Fluctuate Against the Dollar Over the Past Three Months?
By Doug Johnson, Moneycorp
Since September 2005 EUR/USD has been trending in a strong downward direction resulting in over a 9 cent movement (1.2580 high, 1.1638 low). To place a monetary value on this move if you were to buy a property in September 05 priced at 100,000 euros it would have cost you $125,800. The same property in November 05 would have cost you $116,380, that is over a $9,0000 saving. So why has there been such a move?
There have been many reasons for the decline in EUR/USD; however, the most significant of them has been the growing interest rate yield gap between the U.S. (3.75) and Europe (2.25). The FOMC (Federal Open Market Committee) have continued to stick to their measured pace policy and raised rates by 25bps throughout 2005. This is in stark contrast to the ECB (European Central Bank) who have only raised rates by 25bps in the last 29 months. Furthermore, the political uncertainty in Germany over the possible joint coalition between Schroeder and Merkel did little to excite trader’s appetites to invest in the Euro. With this said it has not been smooth sailing for the U.S. The unfortunate events of Hurricanes Katrina and Rita sent oil prices rocketing to all time highs ($61 a barrel) and traders feared the hurricanes would have long term and far reaching implications for the U.S. economy. However, by and large the U.S. economy was largely unaffected by the disasters and this was clearly evident in a statement made by the Federal Reserve who deemed the after effects of the hurricanes only to be temporary on what was already a very strong economy.
With the U.S. interest rate cycle nearing an end, the underlying structural imbalances of the U.S. will once again come to the fore. With the U.S. trade deficit at some $66 billion (month on month), the U.S. have become heavily reliant on overseas investment to plug the black hole left by the trade imbalance. With the economic fundamentals now shifting in favor of Europe we may well see the U.S. unable to attract the necessary amount of overseas investment and consequently leading to a weaker dollar. In contrast Europe has been in a dark period of late with both Germany and France suffering from extreme unemployment rates, political instability and a manufacturing slowdown. Europe though appears to have turned a corner and the latest economic studies suggest that the EU is on the road to recovery and economic prosperity. This will certainly find favor with traders. In summary, while further short term USD gains cannot be ruled out, expectations are for levels nearer to that of September to come back into view and as a client who is potentially investing in property within in the European community this is something to be mindful of.
Therefore, looking at the current levels, a sensible strategy for someone buying property in France would be to secure as much of the currency needed straight away — thus fixing the cost at the outset. If all the funds are not available, the exchange rate can still be secured by purchasing one or more "forward contracts." This involves putting down a 10% deposit to secure the current rate of exchange which can then be held for up to two years, at which point the balance (the remaining 90%) needs to be settled. This way of buying currency is flexible and can accommodate changes in the time scale originally agreed — due to house sales falling through etc. The worst thing to do is sit back and do nothing!
There are many factors that influence the foreign exchange markets and thus it is impossible to predict future rates of exchange with 100%. Moneycorp, however, are world renowned for their market views and consistently ranking within the worlds top three most accurate currency forecasters. Although they cannot predict the future, their Private Client consultants will help you implement a strategy, free of charge, to help you manage your currency risk as efficiently as possible.
Please do not hesitate to contact the team of consultants on the Private Client Desk at Moneycorp Inc. To contact the Private Client Team please call: (415) 678-2770, email enquiries to [email protected] or visit the website: http://www.Moneycorp.com
Vive la France Show
January 20 to 22, 2006
Yes, it’s show time soon…only 6 weeks to go to the new, revamped Vive La France – the biggest French Celebration on this side of the Channel!
HOT OFF THE PRESS!
NEW – In addition to Brasserie Roux, Club Gascon, Le Gavroche and Le Manoir aux Quat’Saisons Salon de Thé, newcomer Mon Plaisir – London’s oldest French restaurant – will be serving you scrumptious dishes at the show. Delicious!
NEW – Enjoy wh
at the French refer to as "The 7th Art." International French Language Channel TV5 will be hosting a mini-cinema at Vive La France just for you — bonbons anybody?
NEW – France is renowned for its stylish design and our new interior style area will showcase some of its most eclectic examples – from Maison de Famille’s roomsets to Casapop’s sexy apron creations complete with beads, frills and lace!
Have you ever tried a glass of William Pear’s or blackberry cordial? Come to the show and try the world’s most flavorsome blackcurrant variety from award-winning Merlet & Fils, all the way from Poitou-Charentes.
Also… Beauty and style tips from our fashion gurus on the catwalk; Celebrity Chefs including Raymond Blanc or hot-blooded Jean-Christophe Novelli; Irresistible Chocolate and Champagne Seminars; The UK’s biggest French Property Exhibition; Superb gifts including a free trip to France with SeaFrance, a refreshing gift from Kronenbourg and much more! Treat yourself or your friends and family this side of Christmas: secure your tickets now and save £2 per person Have a fabulous Christmas and see you at the show!
Open 9:30 a.m. to 6 p.m. daily
Box Office: 0870 380 0144
Guest Speaker Kathy Borrus
World Traveller and Author
One Thousand Buildings of Paris
PARIS SOIREES DINNER
HAPPY HOUR. DINNER. PRESENTATION. DISCUSSION.
Sunday, December 18 at 6:30 p.m.
See and learn about 1000 of the most intriguing buildings in Paris. In her book, Kathy Borrus recounts the history and significance of each building in the informative text that accompanies the 1000 photographs. Neighborhood maps and fascinating sidebars also create an unprecedented view of a unique city that has captivated the imagination of world travellers for centuries. Photographs are by Jorg Brockman and James Driscoll. The book is available in English, French and Italian.
Kathy is an intrepid world traveller, a freelance writer, the author of the book The Fearless Shopper, and co-author of The Business of Crafts. Her writing has appeared in The Washington Post, The Boston Globe, The Washington Flyer, Art Business News, Niche, and The Crafts Report. She is a frequent visitor to Paris who has walked virtually every one of its streets. Kathy lived in the 18th arrondissement while researching this book. She is the former Assistant Director/Merchandise Manager for the Smithsonian Institution Museum Shops and lives in Washington, DC.
At Patricia’s apartment on the Ile St. Louis. Ask Patricia for exact address and door code. The metro is Pont-Marie (The Sully Morland metro is temporarily closed). Farther away is St. Paul.
PARTICIPATION: 20 Euros
GREAT FOOD! International Cuisine.
CONFIRMED RESERVATIONS ARE NECESSARY.
Thanks for reserving via return email! If you don’t receive an email confirmation by Sunday, please call Patricia. To reserve on Sundays, please call.
France and the Louvre Lend a Helping Hand to New Orleans
From Maison de la France
The Minister of France announces projects to help rebuild the rich cultural life of New Orleans with the help of the Paris Louvre museum.
The connection between the state of Louisiana and France goes back over 200 years but the cultural and emotional ties were never severed. That’s why France has reached out to its long-time friend, New Orleans, providing aid to rebuild after the tragic damage incurred from Hurricane Katrina.
On November 4, 2005, the French Minister of Culture, Renaud Donnedieu de Vabres, paid a heartfelt visit to la Nouvelle Orléans and pledged assistance of a different kind. He announced a series of cultural initiatives, of which a major project is an exhibition of some 50 works of art lent by the Louvre to the New Orleans Museum of Art, tentatively scheduled for late 2006 or early 2007. Another significant effort being made is in providing aid to New Orleans musicians who left after the hurricane struck. Concerts are being organized throughout France to raise money for those affected by the storm. "You are such a beautiful city, we love and admire you. We want to be à côté de vous" — by your side — claimed de Vabres.
Project Manager Schuyler Hoffman’s "Mardi Gras" Tree
As for the response by officials in New Orleans, Mayor C. Ray Nagin told reporters that France’s response to the disaster had been "awesome." "This is the first time a country has stepped up with this level of specificity," confessed the mayor. He gave the Louvre a nod as well, in stating that the projected exhibition was "first-class." According to the Louvre’s director, Henri Loyrette, who accompanied the minister, the collection had not yet been selected but the works would inspire "a gesture of return, of gratitude."
French aid has been generous: $18.5 million from French companies, 20 tons of emergency supplies from the government and French military divers helped clear waterways. The Ministry of Foreign Affairs is pledging $180,000 to help French-oriented schools in Louisiana, and French officials in New York said the government was planning to help restore the National D-Day Museum in New Orleans and support the area’s schools and universities.
For updates on the proposed exhibition, visit the New Orleans Museum of Art web site http://www.noma.org/ and Louvre web sites http://www.louvre.fr/llv/commun/home_flash.jsp?bmLocale=en
Learn more about France’s aid to New Orleans, including benefit concerts at http://www.ambafrance-us.org.
It’s a Sellers Market in Europe, Especially in France
By Marshall Taylor, European Correspondent
Commercial Property News
Orion Capital Managers of Paris likes what the REIT structure has done for French property markets. SIICs, les Societies d’Investissements Immobiliers Cotées, the French version of the REIT, have become aggressive buyers, obliging Orion, an active seller.
"We recently sold 500 million euros of assets in our first property fund, including two major transactions totaling EUR400 million, to publicly traded SIICs in a growth mode," Van Stults, managing director of Orion, told CPN. "We sold a 100 million euro portfolio of shopping centers and shares in a listed French property company that we took private for 300 million euros to SIICS.
The firm can realize a tax benefit in selling to SIICs, Stults noted. "French REITS also are trading at premiums and are looking to get bigger, that’s why we want to sell to them." He noted that the SIIC drive to expand has been encouraged by a very attractive conversion cost for French property companies — 17 percent tax on implied capital gains at the time of conversion.
"With no double taxation of earnings in the REIT structure, it creates a value uplift and makes SIICs very competitive, and bigger, buyers," Van Stults said. "Property companies have become larger and more stable as REITs."
For buyers, there is more competition across the board for income producing property in Europe, Stults said. "In some cities we’ve seen cap rates compress by 100 to 150 basis points in just 18 months," he pointed out, "and like in America, the markets are still very much debt driven. Recent German residential deals have gone at 90 percent loan to value and some banks offer 85 percent LTVs.
"Today shopping centers in southern Europe are getting 10 to 15 strong offers," he said, "and recently I saw an office building in Paris get 30 bids." Orion has been buying office, retail and mixed-use buildings in Italy, Spain, France and Sweden for its second investment fund.
French GDP Growth at 1.6% for 2005, 2.0% in 2006 – INSEE
From AFX News Limited
French state statistics agency INSEE has upwardly revised France’s 2005 economic growth forecast to 1.6% from 1.5%.
The revised 2005 forecast is still at the low end of the government’s 1.5%-2.0% target range and below last year’s 2.4% growth rate.
Insee analyst Michel Devilliers, judged the government’s 2006 target range of 2.0%-2.5% to be "attainable," with the economy expanding by 0.5%-0.6% each quarter from the start of next year, meaning that there is a chance that GDP growth will total 2.0% for the whole year.
Another Insee analyst, Karine Berger, said that household consumption had "clearly resisted the oil price shock" and should grow by around 2% this year, and then by 0.6%-0.7% each quarter next year.
She added that people are continuing to invest in the property market, and that public spending, particularly on health, had "normalized."
She also said that the labour market should continue to improve, with unemployment falling to 9.2% by June 2006, and that inflation should slow to 1.5% in June from 1.7% in December.
Living and Investing in France
March 17 -19, 2006
Details to follow shortly at http://www.adrianleeds.com/par
Or contact Project Manager Schuyler Hoffman at [email protected]/parlerparis to be put on a special mailing list.
Living and Investing in France
May 26 -28, 2006
Why We Chose New Orleans
There are more reasons than we can count for why we chose to hold this important event in the U.S. city that came close to total destruction this past year.
First of all, we love New Orleans. It’s Adrian Leeds’ home town with a heritage that dates back to the Spaniards who settled there to the French who turned it into the country’s most cultured and fun-filled city. It’s one of the most visited U.S. cities, is host to such important events as the Mardi Gras and the Jazz Festival, has centuries of history not to mention great food, music and art.
The devastation it suffered has touched the hearts of people worldwide. We want to show our complete support to rebuild New Orleans to even better heights by bringing back tourism to the city’s economy as quickly as possible. This is one vital way to achieve that goal. We urge you to come and join forces with us in these efforts!
Details to follow shortly at http://www.adrianleeds.com/parlerparis/liveinfrance/index.html
Or contact Project Manager Schuyler Hoffman at [email protected]/parlerparis to be put on a special mailing list.
THE ART OF TROMPE L’OEIL SEMINAR
NEW DATES: May 15 – 19, 2006
Chateau de Saint-Loup
The Art of Trompe l’Oeil Workshop originally scheduled for December 29 – January 2, has now been postponed until May 15 – 19, 2006, and will be held at the fabulous Chateau de Saint-Loup. Join a unique community of artists, engaging in hands-on painting and conversation with internationally renowned trompe l’oeil muralist and educator, Yves Lanthier. An award-winning artist, Yves has created large oil paintings and elaborate trompe l’oeil that adorn the ceilings and walls of many East Coast mansions and Palm beach estates, including Celine Dion’s estate in Jupiter, Florida
FPI 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!
Let our experienced relocation expert help 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.
Solution #1: Property Consultation and Search Services
Solution #2: Purchase Assistance
Solution #3: Getting a Mortgage in France
Solution #4: Property Appraisal Service
Solution #5: The "Après Vente"
Apartments for Rent: Long-Term
To book your services, click here:
To download a free brochure, click here
TODAY’S CURRENCY UPDATE
Visit the FPI Web site and click on the link on the left panel "Click Here for Currency Convertor by Moneycorp Global Money Services" for up to the minute conversions of all major currencies.
Compare currency values easily and quickly by visiting: http://adrianleeds.com/frenchproperty/loan/moneycorpconvertor.html
Charts http://www.Moneycorp.co.uk/members/charts.asp 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
NEXT MEETING: January 10, 2006 AND EVERY SECOND TUESDAY OF THE MONTH, 3 p.m. to 5 p.m.
This is your opportunity to meet every month, often with local
professionals who can answer your Working and Living in France questions. You are invited to come for drinks and share your questions and comments about what it takes to create a life here, own property and enjoy what France has to offer. It is also an opportunity to network with other Parler Paris readers.
Upstairs at La Pierre du Marais
96, rue des Archives at the corner of rue de Bretagne, 75003 Paris
Métro Lines 9, 3 et 11, stations Temple, République or Arts et Métiers
HOT PROPERTY PICKS: Studios in the Sky
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/insider/propertyconsultation.html
*** Paris, 8th Arrondissement, Studio, approx. 25m²
Near boulevard Haussmann and Parc Monceau in a cut stone building with an elevator. This charming studio has a fully equipped kitchen.
Asking Price: 202,000 Euros + 2.5% Finder’s Fee
*** Paris, 5th Arrondissement, Studio, approx. 33m²
On the sixth floor of an 1830s building, this lovely studio has a terrace with a clear view. Separate kitchen, bathroom, toilet, cave, beams.
Asking Price: 298,000 Euros +2.5% Finder’s Fee
*** Paris, 18th Arrondissement, Studio, approx. 29m²
Exceptional view of Paris! This unique studio on the 6th floor of a building with an elevator has a mezzanine that opens on two terraces. With a kitchenette, bathroom, toilet, cave.
Asking Price: 380,000 Euros + 2.5% Finder’s Fee
LEASEBACK NEWS FROM IMOINVEST
France, Paris / Ile de France, Roissy-en-France
One Bedroom 36m² to 73m² Euros 174,600 to Euros 365,300
Two Bedrooms 55m² to 61m² Euros 271,300 to Euros 305,300
GUARANTEED RENTAL INCOME UP TO: 5.00%
Luxury Apartments Near Paris
Exceptional 3-star development situated only 5 minutes from Roissy Charles-de-Gaulle Airport and 7 minutes from the Villepinte exhibition ground. Free shuttle services to the airport and the TGV and RER train stations. This new build is located near Paris and offers a new way of thinking for business residences. Existing in the heart of an exceptionally efficient transport infrastructure, only minutes from Paris and a short walk from the village of Roissy-en-France with its traditional shops, restaurants and range of leisure and cultural facilities.
Residence Suites CDG is all about modernity, efficiency and functionality; this is reflected in the highly contemporary design of the building as well as in the choice of the high-tech equipment, from high-speed wireless Internet connection to flat-screen plasma televisions throughout. The development will be comprised of 121 air-conditioned and sound proofed, generously proportioned apartments. The beautifully appointed and air-conditioned lobby, bar, breakfast room, meeting room and fitness centre cover a total of 2,880 square feet. The meeting room can accommodate 30 people in a U-shape layout, 48 in classroom layout, or 80 in theatre-style layout; it can also host cocktail receptions for up to 120 people. A new way of dividing the living space has led to the creation of deliberately spacious bathrooms, which become living areas in their own right. The office/living area is designed for both work and relaxation and can be arranged to suit the needs of the modern business traveller.
Paris is the top tourist region in France and in the world and one of the prime regions in terms of business tourism. LMNP status ensures that the investor will receive a refund of the VAT (value added tax) meaning 19.6% of the purchase price. A minimum 11-year commercial lease guarantees rental payments. Rents earned are net and annually revised to the INSEE index of building costs. At the end of the lease term you can choose to renew for 3, 6 or 9 years or you may resell your property. Parking is available outside and in the underground car park. 24-hour reception and hotel services providing sheets, towels and weekly room cleaning with daily cleaning and laundry/dry cleaning service on request. Business services offer equipment rental for meetings and newspapers.
SEEKING A MORTGAGE IN FRANCE?
Let us help you secure a mortgage in France with interest rates as low as 3%. Visit http://www.adrianleeds.com/frenchproperty/loan for more information.
Don’t forget that with your FPI subscription you are entitled to a discount on the purchase of any Insider Paris Guides. You’ll find details of the guides at http://www.insiderparisguides.com/. When ordering, a box will pop up allowing you to enter the following username/password
Order more than one guide at a time and you will receive an additional discount!
Username: propertyinsider Password: liveinfrance
THINGS YOU NEED TO KNOW
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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/
Leeds Marais Apartment
Located in a 17th century Le Marais Hotel Particulier, this 70 square
meter two-bedroom apartment with lots of light is nicely furnished and
is perfect for up to four people when rented in its entirety or a
single woman in the freshly renovated guest room when owner Adrian
Leeds is there.
Pictures and more details available at
font size="2" face="Verdana">For
all short term rental apartments in Paris, take a look at http://www.adrianleeds.com/parlerparis/apartments or http://www.adrianleeds.com/frenchproperty/insider/longterm.html for long term apartments.
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Copyright 2005, Adrian Leeds Group, LLC