The News is What’s New
Looking Across Paris to La Défense
May 21, 2009
Bonjour French Property Insider Subscriber,
What’s new is that there’s lots of news and lots of new things happening in Paris and France.
Today’s FPI starts with our newest fractional ownership property in the ‘oldest’ part of the city — "Le Notre Dame" — now on sale at a "petit prix," then we follow through with the new La Défense and the new Tour Signal, where you might want to own one of the 90 large apartments…
There are new rules for landlords that you should know about and news about how now’s such a great time to be buying in France with the new interest rates and new lower prices.
Meanwhile, we’re gearing up for the Living and Investing in France Real Estate Conference this coming Sunday…our 25th in the series. There’s still room for you to attend, so give us a call if you think you can make it — two can attend for the price of one! If you can’t attend, be sure to write us so you can learn the best way to get a personal consultation.
Next week I’ll be reporting on the conference while visiting Berlin — another reason to live in Europe where so much is within easy and inexpensive access. Paris is a perfect central point from which one can travel to almost anywhere very simply.
If you’re on route to Paris in the next few months, be sure to check out one of our newer luxury apartment rentals — Le Trésor (du Marais) — this past week I visited it to see it’s newly renovated bathroom and beautiful new mirror over the bed. It’s a totally charming and quiet "aerie" with lots of light and great rooftop views in the very heart of a bustling Le Marais where everything you could need or desire is at your doorstep. It’s available much of June, July and part of August. Visit www.adrianleeds.com/parlerparis/apartments/rentals/tresor.html for more information.
Editor, French Property Insider
Email: [email protected]
P.S. Don’t forget to note in your calendar our newest House Hunters Episode airing June 15th…for more information, visit: www.hgtv.com/house-hunters-international/vacation-home-in-paris/index.html.
Volume VII, Issue 21, May 21, 2009
In this issue:
* Thinking Fractional? Announcing Our Newest Opportunity
* A "New" Discovery in Paris: La Défense
* La Défense to Get a New Look
* Why it is a Good Time to Buy in France
* Last Chance to Attend the LIF Conference Free!
* The Latest Fractional Property Offerings
* Only 3 Days Left on Our Special Subscription Offer
* Learn the New Rules for Landlords of French Property
* Second Chance to See House Hunters Int. Episode
* Currency Online Exchange Service
* Parler Paris Apartments: Les Ivoires de Montmartre
* Lifestyle: Life in France Cushions the Down Economy
* Hot Property Picks: Captivating Current Courbevoie
* Results of the Latest Notaire’s Property Auction
* How You Can Obtain a Mortgage in France
* Parler Paris Après-Midi: When We Meet Next
* Managing Your FPI Subscription
* Subscribers Receive Discount on Insider Paris Guides
Rue Chanoinesse, 4th Arrondissement
By Paris Fractional Ownership
The Ile de la Cité is where life in Paris began centuries ago, centered around one of the world’s most important cathedrals, Notre Dame. Just a few steps away is this old-world elegant studio apartment with windows providing a perfect and beautiful view of "Our Lady."
The apartment sits on a charming side street on the island that splits the Seine River on what was once known as "Lutèce" and is classified among Paris historical monuments. It has been entirely restored
to include its original centuries
-old wood beams, fireplace and antique touches. From the dining area, there are direct views of Notre Dame.
The restoration married old world charm with modern conveniences…air conditioning (rare to find and a real plus during warm weather), a modern elevator that takes you to its second floor level, a well appointed kitchen (oven, stove top, microwave, refrigerator, coffee maker, toaster) and a beautiful modern bathroom with a full shower.
It is also equipped with a queen sized bed, a full length wardrobe, a combination washer/dryer, cable TV with English-language channels, high speed Internet access (WiFi), free telephone service including land line phone calls to many countries (the United States, Canada, Australia, New Zealand, Japan, China, most European countries, and South America) and a CD stereo system.
This location is the geographical center of Paris so you’ll be able to walk almost everywhere in the city center. There are several Métro and bus lines with stops located a few feet from the apartment: the Cite Métro station on the Island, the Hôtel de Ville Métro station, and the Saint-Michel Métro station, which is a five-minute walk onto the Left Bank. Le Marais is just a five-minute walk away onto the Right Bank.
Le Notre Dame is a perfect Parisian home for a single or couple wanting a centrally located home in the City of Light at a "petit prix." Offered by Paris Fractional Ownership and Glenn Cooper, shares begin at 14,900€ per two week share.
For prices and for more information, contact Glenn Cooper: mailto:[email protected]
La Défense is a major business district for the city of Paris, bordering Neuilly-sur-Seine, west of the city itself. It is centered in an oval freeway loop straddling the Hauts-de-Seine département municipalities of Nanterre, Courbevoie and Puteaux. The district is at the westernmost extremity of Paris’ 10 km long Historical Axis, which starts at the Louvre in Central Paris and continues along the Champs-Élysées, well beyond the Arc de Triomphe before culminating at La Défense.
Around its 110-metre (360 ft)-high Grande Arche and esplanade ("le Parvis"), the district holds many of the Paris urban area’s tallest high-rises. With its 77.5 acres (314,000 m2), its 72 glass-and-steel slick buildings including 14 high-rises above 150 metres (490 ft), its 150,000 daily workers and 3.5 million square metres (37.7 million sq ft) of office space, La Défense is Europe’s largest business district.
One hundred fifty thousand workers move in and out of La Défense every week day. When the work day is in full swing, La Défense has a population greater than Pasadena, California. For someone working in La Défense, it might make sense to live in close proximity as to reduce commute time. One might consider taking an elegant apartment on the west side of Paris in the 16th or 17th arrondissements or an adjacent suburb such as Neuilly-sur-Seine, Courbevoie or Puteaux.
In these districts, there are many contemporary new-build apartments that offer high levels, large picture windows, balconies and stunning views, less expensively than in center Paris. Transportation access in and out of Paris is quite good via the Métro (line 1), the RER (A), the Tramway (2) and bus (73).
With attention now paid to La Défense by celebrity architects like Jean Nouvel to transform it into ‘a new arrondissement of Paris,’ by 2013 it will be possible to own an apartment in "La Tour Signal." His design won the "battle of the titans" for the La Défense build. "The project’s environmental sustainability choices and mixed uses having favorably influenced the jury."
It’s thought to be the most important act of architecture since the Eiffel Tower — and will become "France’s first ever mixed use tower as it will house apartments, offices, a hotel, retail outlets, cultural and public facilities and a panorama terrace with garden."
Within the tower that will reach 71 stories as Paris’ second tallest building (301 meters compared to the Eiffel Tower with 324 meters), will be 90 large bright apartments built around an open sky patio. Wouldn’t you like to be one of the first to own one?
The main Paris business district of La Défense is getting a makeover with new buildings, a more people-friendlier orientation and additional residential housing. The business district, which is the largest such designated area in Europe, was created in the late 1950
as a center for modern businesses and to keep the new skyscrapers from altering the traditional look of the city. It is located on the western edge of Paris and contains a number of modern buildings as well as many sculptures and outdoor art works.
The La Défense Management & Development Office announced a new development plan to modernize and regenerate the district in 2006. Over the past several years there have been a number of new buildings as well as an increased focus on ecological factors and a higher quality of life for those who live and work here. The entire La Défense regeneration project is set for completion in 2015.
Several iconic skyscrapers are planned for La Défense, such as Tour Generali, Tour Signal, and the two Hermitage Plaza towers, which are being designed by Sir Norman Foster. Tour Signal is planned for West Gate and is meant to open up the district to the municipality of Puteaux. Tour Generali is being constructed for the Italian insurance company, Assicurazioni Generali, and is being constructed on the site of the old Iris building. It will be very green oriented, with photovoltaic cells and water collection units to keep operating costs to a minimum. The whole area will become a more enjoyable place to work and live when the project is complete.
To read the entire article go to www.france.homesgofast.com/news/la-defense-gets-new-look-I1529/.
Assetz Property News Service
For many people investing in property, it might have been thought in recent years that the French market was a highly promising one for UK buyers. With President Sarkozy’s declared aim of increasing home ownership in the country and then the banks being less affected by the US subprime crisis than those elsewhere, it may have seemed like Britain’s closest continental neighbor was well set for the future.
It hasn’t quite worked out that way, of course. The international nature of the recession has ensured that France has endured a downturn too, with the property market not only hit by the recession in the country itself but inevitably from a reduction in overseas buyers.
A large number of these, of course, have been Britons, keen to buy second homes, a place to emigrate to or simply property to invest in for holiday rentals across the channel, enjoying the different lifestyle, culture, food and wine, plus niche attractions such as winter sports in the case of the Alps, or the sun and surf of the Cote D’Azur.
But two major problems have arisen. Firstly, the credit crunch and the recession have meant British buyers have less money to spend and have found selling UK homes to fund French purchases harder. Secondly and of particular note, the value of the pound has plunged against the euro, making a home in France more expensive to buy.
However, some have overcome this hurdle without making a loss…
To read the entire article go to www.news.assetz.co.uk/articles/4802.html.
Editor’s Note: While the issues discussed above center around Brits and the Pound Sterling, they are also applicable to other foreigners and currencies. So, yes, it is a good time to buy in France and not just for the Brits.
If you’ve always dreamed of spending more time in France, enjoying a pied-à-terre of your own in Paris that you can profitably rent when you like, or just make a smart investment in the strong Euro by owning property in France…then this power-packed one-day conference is a MUST. There is no doubt, from the hundreds of others who have attended conferences of this kind and fulfilled their dreams…this Sunday in Paris will point you in the right direction to really make it happen!
As a special offer to FPI subscribers, we invite you to bring a spouse, partner or friend to the upcoming Living and Investing in France Real Estate Conference here in Paris…ABSOLUTELY FREE!
Reserve your seats now!!
Paris Sunday, May 31, 2009 Chez Jenny 3, Boulevard du Temple 75003 Paris. For more information go to www.adrianleeds.com/frenchproperty/conference, but to register contact Schuyler Hoffman at [email protected].
If you are inter
in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
LE PALACE DES VOSGES
CHEZ LA TOUR
LE PETIT TRESOR
Every Thursday, hundreds of hard-working folks receive an electronic magazine ("E-Zine") called "French Property Insider."
For those who are even remotely interested in having their own "pied-à-terre" in Paris or stone cottage in the countryside of France…it all starts with French Property Insider
Now only $31 for 50 issues of everything you need to know to make your dream to live and invest in France come true.
No work, all play…on May Day. Become a subscriber or renew your current subscription today!
There have been some important recent changes in the legal and tax framework for landlords of French property.
Those who rent out a property in France often take out some form of guarantee against the non-payment of rent. This may be either an insurance policy against the non-payment of rent, or the use of a third party guarantor, often a relative, but sometimes an institution.
In some cases, landlords have adopted a belt and braces policy of insisting on both an insurance policy and a third party guarantee. Insurers have also sometimes made securing a guarantor a condition of taking on insurance of the rent!
A change in the law now proscribes this practice. In future, a landlord can only use one or the other.
The aim of the change is to try and increase access to rental housing for a greater number of people, although critics argue that it may well have the reverse effect: landlords may simply decide to sell rather than rent out property. It could well also increase insurance premiums.
The use of a third party guarantor is also now forbidden if the landlord is a French property company, other than for companies that may be entirely famil
The tax allowance for landlords of furnished accommodation taxed as a ‘micro-entreprise’ has been reduced from 71% to 50%.
However, those who let chambres d’hôtes and registered gites are excluded from this change. We have spoken to several tax offices about this exception, none of whom seemed aware of it. If you fall into this group (as we know many of you do) then check carefully your tax notice when you receive it later this year.
The test of eligibility for becoming a professional landlord has been made tougher.
Broadly speaking, you now need to have rental income of at least €23,000 per year, which must at least 50% of your other earnings.
Where previously pension income was excluded from the definition of ‘other earnings’, this is no longer the case.
However, expats wanting business registration as a landlord in order to obtain access to the French health system, can register as an auto-entrepreneur…
To read the entire article go to www.prlog.org/10237351-new-rules-for-landlords-of-french-property.html.
Vacation Home in Paris
June 15, 2009 10:00 P.M. e/p
June 15, 2009 2:00 A.M. e/p
New Yorkers Jeff Ballinger and Mary Schiller recently began the first steps toward making their dream together a reality. After honeymooning in Paris, they knew they wanted their own vacation property in France. Now, they’ve moved out of their house and into a smaller condo in the Bronx, NY, and have begun their search for a pied-a-terre in Paris.
Adrian Leeds, Property Consultant, Adrian Leeds Group
Currency Online Limited is a member of the Moneycorp group of companies. Moneycorp provides comprehensive foreign currency services to businesses and private individuals around the globe. Moneycorp has quickly become a market leader in foreign exchange with a network of offices in Australasia, North America and Europe that manages billions of dollars in foreign currency transactions annually.
Visit the FPI Web site for more information and take this link for Currency Convertor by Currency Online: www.adrianleeds.com/frenchproperty/loan/moneycorpconvertor.html for up to the minute conversions of all major currencies.
Parler Paris Apartments 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 heir best for your 100% guaranteed satisfaction.
SPOTLIGHT APARTMENT(S): Les Ivoires de Montmartre
Rue des Trois Frères, 18th Arrondissement
Studio, Sleeps Up to 4
d with the
utmost attention to detail. Located on a quiet one-way street which was made famous by the hit movie “Le Fabuleux Destin d’Amelie Poulain” (yes that Amelie!), it promises you a stay to remember.
As a very spacious studio, the apartment is well laid-out to feel very large. From the high-security front door one enters into a small foyer, which connects to both the bathroom and the bedroom area. The comfortable Queen-sized bed (which can become 2 single beds), is framed with ample storage space. High quality linens adorn the bed. This bedroom area can be separated from the living room by drawing a heavy decorative curtain, to span the width of the apartment — great for groups using both sleeping spaces.
Washington Post Foreign Service
Monday, May 25, 2009
MENTON, France — In recent years, Jean Beaufranqui and his wife have spent most of their time in Menton, enjoying the sunshine and gentle Mediterranean breezes that have made this little town into a retirement haven, France’s version of Miami Beach.
And now, even as the world reels from its most painful economic crisis since the 1930s, Beaufranqui’s thoughts have turned not to budget cuts but to buying an apartment here and settling in full time. As a retiree — he stopped working almost 19 years ago, at the standard age of 60 — the former metallurgist has sailed smoothly through the economic storm as the French government regularly deposited his monthly pension payments.
"Not really," he responded when asked whether the financial crisis had affected his standard of living, a question that seemed to interest him less than the petanque bowling tournament he was watching from a park bench beside the beach.
For Beaufranqui and millions of other French people dependent on tax-financed largess, this country’s cozy social protections, vast numbers of bureaucrats and unhesitating government intervention have proved to be a shelter from want in these hard economic times.
Denounced for decades as a millstone preventing growth and competitiveness, particularly by free-market advocates in the United States, the French government’s dominant role in economic activity has suddenly found new favor at home and grudging respect abroad…
To read the entire article go to www.washingtonpost.com/wp-dyn/content/article/2009/05/24/AR2009052402042.html.
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
This week our focus is on properties in the neighborhood between Paris proper and La Defense, Courbevoie.
***Courbevoie: 1-Bedroom, approx. 46m²
In a quiet environment, with an unobstructed view, this apartment of 46m² (about 494 ft²) was built in 1930. In a building with seven floors, this apartment includes one bedroom, bath and toilet, entry hall, living room and a cellar. The living room is 22m² (about 236 ft²). It’s located on the 4th floor. Heating is individual electric.
Asking Price: € 184 000 + 2.5% Finder’s Fee
***Courbevoie: 1-Bedrooms, approx. 48m²
This apartment of 48m² (about 516 ft²) is in a building with six floors and is located on the second floor. The three rooms include one bedroom, kitchen/dining room, and toilet. It also comes with a cellar. Heating:
Asking Price: € 180 600 + 2.5% Finder’s Fee
***Courbevoie: 1-Bedrooms approx. 48m²
In a quiet neighborhood, in a building with nine floors built in 1987. This apartment has 48m² (about 516 ft²) of living space including one bedroom, bathroom and toilet, and living room. The living room is 21m² (about 226 ft²). There is a separate kitchen and a cellar. It’s located on the 5th floor with an elevator. Heating: individual electric.
Asking Price: € 231 000 + 2.5% Finder’s Fee
***Courbevoie: 2-Bedroom, approx. 60m²
This house/villa (town house) of 60m² (about 645 ft²) was built in 1930. Consisting of 3 floors, it has three separate rooms including two bedrooms and toilet. It has an entry hall, living room and a terrace. Heating : individual gas.
Asking Price: € 257 000 + 2.5% Finder’s Fee
***Courbevoie: 3-Bedroom, approx. 79m²
Built in 1972, the building has eight floors. This apartment is 79m² (about 849 ft²) and contains four rooms: three bedrooms, one bathroom, and one toilet. It comes with a cellar and with a parking space. It’s located on the second floor with an elevator. Heating: collective gas.
Asking Price: € 335 000 + 2.5% Finder’s Fee
***Courbevoie: 2-Bedroom, approx. 85m²
In a quiet neighborhood , this apartment of 85m² (about 914 ft²) is in a building built in 1975. It contains four rooms including two bedrooms, one bathroom and two toilets. It is has a living room of 27m² (about 290 ft²), with a separate kitchen, a private garden terrace, a cellar and with a parking space. It’s located on the 1st floor. Heating: collective gas.
Asking Price: € 441 000 + 2.5% Finder’s Fee
Notaires de Paris
Place du Châtelet
12 avenue Victoria
Additional information on Les Ventes aux Enchères des Notaires can be found on the Web site at www.encheres-Paris.com. Though the site has a button for an English version, it isn’t necessarily reliable.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
|On May 26, 2009 the following properties will be auctioned off:|
|On June 02, 2009 the following properties will be auctioned off:|
2 Rooms 38m²
15 rue du Louvre
75001 – PARIS 1er
Starting Bid: 175 000,00 €
Deposit: 35 00,00 €
Editor’s Note: If you look at the properties on the Notaire’s site (www.encheres-paris.com), when you click on the information for a particular property there is also a link to Google Maps to show you exactly where the property is located.
When you make a purchase as important as a piece of real estate in a foreign country, you ant 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/
Come for a drink and to meet and chat with other readers in Paris…
The next gathering is June 9, 2009 and every second Tuesday of the month (except August).
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