Le Petit Saint-Germain is a newly renovated apartment by the illustrious Interior Architect Martine di Mattéo located in a classic building on one of the most desirable streets in this much sought-after part of Paris. From the cobblestoned courtyard of the building, one mounts a single flight of stairs to reach this model of efficient design and planning – it may be small but it’s bright, spacious and you will find all that you need to make your stay in Paris comfortable and relaxing.
FREE one-hour consultation! Guests of Parler Paris Apartments or Parler Nice Apartments who are considering the purchase of their own "pied-à-terre" for pleasure and profit, can take advantage of a free one-hour consultation while enjoying the apartment in the City of Light or on the Riviera. Simply complete the request form to book your consultation.
Bonjour French Property Insider Subscriber,
Everyone wants to know how Brexit is going to affect the French property market. That requires a crystal ball and a lot of guess work. There is much speculation in the press, but that's a whole lot of "what ifs." I've got my own simplistic view which is more economic in basis.
Le Projet du Grand Paris Express
For the British who have their holiday homes in France, everything gets more complicated, but that's not what will drive the market as much as the falling value of the British pound -- should that continue. Suddenly the property they were dreaming of purchasing is going to cost a whole lot more, meaning either they won't buy, or they will buy something of less euro value. On the other hand, the properties already owned by the British are worth a whole lot more in Sterling. In effect, this is a perfect opportunity for the British to sell their French properties and repatriate their money. It's also a great time for the Europeans to take advantage of the weak pound to purchase in the U.K.
When the euro was equivalent to $1.50, I took a French mortgage to buy a property in New York City. That was one of the best investments I ever made. The rate of exchange difference alone has increased the value of the property by 25% and reduced the expense of the mortgage in dollar terms. As it turns out, New York real estate also increased and this property has appreciated by almost 2.5 times, so the bottom line is that I'm way ahead in the game by a bottom line of 3.5 times the original investment.
Meanwhile, if the British seize the opportunity to sell their French properties, then there will be an abundance of property on the French real estate landscape and prices will drop. The British own more outside of Paris than within -- primarily in the Dordogne, Normandy, Brittany, Languedoc-Roussillon and the Riviera, therefore I doubt Paris will be seriously affected, but the countryside of France could see a real difference and that means bargains can be had.
My guess, along without the crystal ball, is to set your sights on properties in these areas of France in the next few months and take advantage of this golden opportunity!
In Paris, the property market reports are still showing strong activity. Buyers waited till the prices bottomed out and now are waiting no longer to make the purchase while lending interest rates are exceptionally low (hovering around 2%). Prices in Paris have increased 1.6% in the past year to an average per square meter rate of €8,050 at the end of April 2016. The least expensive area of Paris is Pont de Flandre (19th) still under the €6,000/m2 mark at €5,680 and the most expensive district is Odéon (6th) at €14,120/m² -- a difference of €8,500 between them per square meter.
Prices are expected to rise further by late August by .08% to €8,180/m2. Now's the time to buy in Paris, too!
On another note indicating a rise in values, the Chambre de Notaires de Paris have agreed to analyze the impact of the Grand Paris Express on the real estate market. The Grand Paris Express is a group of new rapid transit lines to be built in the Ile-de-France region comprised of four new lines, plus the extension of existing lines 11 and 14, expected to have the first section open in 2020.
Transportation access is bound to increase the value of the surrounding property. Smart investors will want to set their sights on these particular areas of the region.
P.S. Mark your calendar for our newest House Hunters International, "A Paris Shoebox for Six"! "Liz and Tony love life with their four kids in Melbourne. In fact, they love it so much that until very recently, they've never left the area. All that changed when they visited Paris a few years back, and now Liz is determined to break into their modest savings and buy a dream Parisian apartment. Unfortunately for them, Paris isn't so obscure to the rest of the world, and affordable real estate is hard to come by." Monday, July 18th at 10:30 p.m. EST and Tuesday, July 19th 1:30 a.m. EST. You can find more details on HGTV.
FOR SALE: IN THE HEART OF SAINT-GERMAIN-DES-PRES
Located at 31 rue de Seine, 6th Arrondissement, in the very heart of Saint-Germain-des-Prés, this two-bedroom apartment on the chic rue de Seine in one of the most chic and exclusive areas of Paris, is fully renovated, 'move-in-ready.' Situated on the ground floor of a well maintained building, with its own large terrace, this apartment is full of old-world charm and modern amenities. Its efficient use of space and ground floor location also make it an excellent candidate for investors (for legal short-term rentals). Author George Sand once lived in this building! Furnishings and contents may also be included.
To peruse all of our current properties for sale, visit AdrianLeeds.com. And if you have a property you wish to sell to our North American/Anglophone market, do not hesitate to contact us at [email protected].
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