Capitalizing on Life in France
Volume III, Issue 33
Today is the 61st anniversary of the Liberation of Paris with celebrations organized all over the city all during the day. The theme of this year’s celebration is “Combat de femmes, femmes au combat”– the right for women to vote and have a voice, which they achieved as late as 1944.
The weather in Paris this August is a far cry from two years ago when we were suffering through the “canicule” and people were scrambling to find fans and air conditioners to cool their abodes. All of those who scurried to prepare for the heat by installing portable air conditioners (as it is virtually impossible install a permanent unit due to strict laws concerning building exteriors), have been surprised by very low temperatures this summer. Paris weather is as unpredictable as an earthquake proven today by a schizophrenic showing of cloudy skies and cool breezes, followed by blue skies and warm temperatures, followed by torrential rain with some hale, followed by sunny skies…we have learned to carry both sunglasses and umbrellas in one hand.
The point of this commentary on weather is that for those of you who own rental apartments in Paris and fear losing business by not having their apartments air-conditioned, you can relax…at least this year. It is true, however, that American clients have become used to living in air-conditioned spaces and hence, prefer it to having open windows, especially if the apartment is on a busy and noisy street that is unpleasant when the windows are open.
Personally, I prefer the fresh air and don’t mind a little heat now and then.
Today’s FPI is loaded with valuable information. Start with a bit of valuable advice related to renovations — plan on doing them regardless of whether you buy new construction or old, for maximum livability and rentability. Then learn how sales in France are as strong as ever and one reason for that are the continued low interest rates, proven by the news from Abbey National, soon to be come “UCB.”
We also explore the world of the “Viagers” — a purchase program which can be a win-win for both buyer and seller, if the buyer can plan on holding the investment for an indeterminate length of time. Learn more about this and about Le Petit Palais, considered an architectural jewel, which is scheduled for a reopening late this year. There is more on the Art of Trompe l’Oeil — a workshop for painters led by master painter Yves Lanthier is coming to Paris this December!
Property Picks list a few Viagers apartments and a special offering in Le Marais. Also, don’t miss learning about the conferences coming up this October in San Francisco and New York. If you are serious about property ownership in France, you won’t want to miss at least one of them!
Editor, French Property Insider
Email: [email protected]
P.S. Now’s the perfect time of year to start your property search…the French are back for La Rentrée and raring to get their properties on the market. For more information, contact Adrian Leeds at [email protected]
Volume III, Issue 33, August 25, 2005
In this issue:
* Renovations…Paris Property by Design
* Property Sales in France Still Strong
* New UCB Mortgage Division for International Buyers
* French Real Estate Option: Viagers
* Unveiling of the Petit Palais
* Petit Palais: An Architectural Jewel
* The Art of Trompe l’Oeil
* “Welcome to France” Fair – Get Your Free Tickets
* Upcoming Conferences
* Complete Relocation Solutions
* Hot Property Picks: Le Marais and Les Viagers
* Classified Advertising: Leeds Apartment and Short Term Apartment Rentals
Renovating Your French Property
By Adrian Leeds
Very rarely have we seen a purchase made of a Paris apartment or home in the country that doesn’t need some kind of renovation work. Even new construction buildings don’t always have the luxury of the finest of floor plans. In fact, more often than not, improvements can be made to the livability and rentability of a property with a few simple corrections.
Most recently, clients interested in purchasing an apartment of new construction in the heart of Paris (the 1st arrondissement) with two balconies,
ws and contemporary kitchen and bath, asked us to advise and assist them in making a decision. (It’s our job to point out the assets and liabilities of a property so that the buyers are entering into the investment with both eyes wide open.) In this case, the apartment had a long list of “pluses” — lots of light, quiet on the courtyard, large living spaces, modern fixtures and great location. The “minuses” were several, but mostly reparable — wasted space in a large totally closed and windowless kitchen, a dining room that would be more useful as an office or second bedroom, a walk-in closet that wasted almost two square meters of bedroom space and disjointed balconies (the larger and more useful one off the bedroom instead of off the living room).
Ellen Jung j2999se, FPI’s Property Search Consultant and staff architect, visited the apartment and made her recommendations to:
– Take down the right wall separating the kitchen from the living room.
– Make an open kitchen with bar and create a dinette area out of the existing area.
-Add sliding doors/panels to create an office or secondary sleeping area with the possibility of adding a Murphy bed unit.
– Move the hot water heater from the kitchen to the bathroom to optimize space in the kitchen.
– Demolish the wall to the dressing area to increase bedroom size and add doors to the dressing units.
Ellen’s rough estimate to do this work, not including architectural design fees or any construction management fees, was based on a mid-range level of finishes was plus or minus 20,000 Euros.
Derek Bush, of DSB Interior Design & Architecture, added that quite often, even when the work is minimal, the workmen can make such a mess in the apartment by disrespecting the walls and flooring that it needs a repaint, increasing the costs of the original estimate, so to allow more time and money than you originally think.
Most projects average about 1000 Euros per meter, but of course, depend on the extensiveness of the work and the materials chosen.
Bush is a regular speaker at the Invest in France Seminars here in Paris and consults with FPI clients regularly on their individual projects. His advice, in all circumstances, is to NOT scrimp on quality labor and materials — in essence you get what you pay for and you may be paying the price later for shoddy work.
There are workman who can be hired “au noir” (“under the table”) for les and where no VAT (Value Added Tax) is paid them, but you as an employer must accept all risks and this work cannot be applied against capital gains taxes. The VAT on most renovation work is 5.5%, not the traditional 19.6%. Only work which truly improves the value of the property can be applied against capital gains taxes and the laws are stringent, so do not except the new kitchen cabinets to reward you, but the addition of a bathroom where there was none will!
For those who are not living in France and have a property under renovation, it is wise to hire a professional contractor or architectural firm to oversee the work on your behalf. FPI offers a service to coordinate and oversee the work for a small fee — details can be found at https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/renovation.html
Architect James Dixon of James Dixon Design, New York, comes regularly to Paris to design and oversee a renovation project for a client whose Ile Saint Louis apartment has became a “work in progress” and whose budget affords him the luxury of turning it into a masterpiece. Dixon will be speaking at the upcoming Invest in France Seminar at the Harvard Club of New York City October 26th on the subject of renovating your property in France, about this project and others he has participated in.
Editor’s Note: To contact these recommended professionals:
Ellen Jung j2999se: [email protected]
Derek Bush: [email protected], visit: http://www.bush-architecture.com /
James Dixon: [email protected]
French Investment Property Continues Buoyant
By Assetz Property News Service
The French property market saw price growth of 9.5% for the year up to June 2005, say figures released by estate agents VEF, with apartments showing a greater return on investment than houses for much of the period.
The figure is a marked slowdown from the recent 15.5% peaks in price increases during 2004, although many remain optimistic that growth will hit double digits this year.
The market was far from consistent, however, with a wide range of performance over the past 12 months, from price drops of 2.2% to gains of 25%. Interestingly, some of the most extreme contrasts were in areas only 200 kilometers apart.
As in the UK, some of the previous fastest areas of price growth, such as Paris, have been the first to feel a slowdown in price inflation.
Housing stocks with agents have increased by 15% over the year with the number of transactions declining by approximately 20% as many proposed purchases put on hold pending sale of another property.
Low interest rates in France and a more liberal lending policy have continued to fuel the increase in prices, as has the competition for property from overseas buyers.
“The first half of 2005 has shown a clear growth in demand not just for new build property but for investment opp
cross France,” said Paul Owen of VEF.
“Since new build apartments and houses in France are bought off plan, without a brick having been laid, many of the buyers are investors who are often short of time and are confident enough to make their purchase without the need to visit the site in question. Their decision is made with confidence by studying plans and architectural drawings.”
VEF has seen a 100% year on year increase in sales, said Mr Owen, with only 8% of buyers visiting sites before purchase, and 98% of all new build sales bought under leaseback schemes, indicating they are investment purchases
“The demand for new build property, especially leasebacks, where the rental income is guaranteed and the VAT is refunded, is likely to continue from the UK, where the property market continues to cool and notably from Ireland where investing in overseas property has become a way of life,” he added.
73% of VEF buyers purchased with the aid of the legal service offered by VEF. The average value of new build property bought was surprisingly low at 143,858 euros.
Abbey National News
Abbey National Becomes UCB
Based on a letter by John Woodhouse, Managing Director, Abbey National France.
Last December, Abbey National France was acquired by BNP Paribas. The Abbey National France team will be joining forces with those of UCB and BNP Paribas Invest Immo, to form an important part of the specialized mortgage lending business of the BNP Paribas Group: “Métier Crédit Immobilier Spécialisé.” The two business arms of Abbey National France will be realigned based on their products and services.
Residential acquisition or investment and debt consolidation
activities within Gentlemen-Prêteurs at Abbey National France will soon be carried out under the name of BNP Paribas Invest Immo.
The International Buyers activities will be carried out under the name of UCB, a BNP Paribas company. This division will continue to finance property acquisition in France by English speaking customers, and will be extending their range to customers of other nationalities in the future. The company is interested in working with the International Buyers market, and will be providing new information and sales support documents in English. The company is positioning themselves as UCB, the mortgage specialist for France.
Editor’s Note: UCB will be unveiling their new brand at the French Property Exhibition in London, at the National Hall, Olympia, September 23 – 25, 2005. Adrian Leeds of Parler Paris and French Property Insider will be present at the stand of John Howell & Co. at the show as well. Be sure to stop by to say hello and ask questions.
Interest Rate Indexes (on 01/07/2005)
3 month Euribor: 2.12%
12 month Euribor: 2.10%
TEC 10: 3.25%
Source: Abbey National France Treasury Dpt.
Exchange Rates (on 01/07/2005)
1 Euro = £0.689
£1 = 1.450 Euro
£1 = $1.205
Sources: ECB and BoE
Construction Cost Index
(applic on 01/07/2005)
2005 1st quarter annual variation: + 4.83%
Viagers: A Win-Win for Buyers and Sellers
By Lynda Sydney
The “viager” or “life annuity” real estate concept is one in which a buyer purchases a property from a seller, but the seller can continue to live in the property. Instead of paying the full value of the property, the buyer only pays part of it, which is called the “bouquet” or down payment, then pays a monthly allowance to the seller. This is known as “le viager occupé” or “occupied life annuity.” It’s as if the seller holds the mortgage, which gives the owner an income while they are living in the property. After the seller’s death, no more allowance is owed. The down payment does not generally exceed one third of the total price of the property, and the amount of the allowance depends upon the total value of the property and the age of the seller(s).
The benefit to the seller is that they can supplement their often insufficient pension, and enjoy their retirement, relatively free of financial worries. The seller can occupy the property for the rest of their life, although sometimes it is possible to limit the duration to a certain number of years according to an agreement between the seller and the buyer.
The benefit to the buyer is that they are able to make a sound real estate investment and increase their property holdings without the worry of managing the purchase themselves and without extra taxation. After the death of the seller, the buyer can use the property and has no more allowance to pay. Depending upon how long the seller lives, this could mean a very good deal.
For example, based on one of the viager apartments listed in our Hot Properties section, the price is 488,000 euros with a 170,000 euro down payment and a monthly payment of 1,875 euros. The seller is a 78 year old man.
If this gentleman were to live to age 85, the buyer would spend 157,500 euros in monthly payments. This would bring his total cost to 327,500 euros, which is 160,500 euros less than the asking price of the property.< /p>
If, however, the seller were to live to 100, the buyer would be paying more in monthly payments. This is where the gamble comes in, although it is probably not a high risk. And remember, the value of the property would be appreciating during this time, estimated at about 10% or more annually.
The buyer should also keep in mind that when he takes possession of the property, he will probably have to spend money on renovations, which could easily be approximately 1000 euros/meter or more.
Another variation is “le viager libre” or “free life annuity.” In this case, the sellers are not living in the property and the buyer can either occupy it personally or rent it out. The seller still receives their monthly payments, but the buyer is free to use it, so it is as if they are paying their own rent. If they choose to rent it out, they can realize income from the property.
Viager Key Terms
Viager is a specialist field with its own vocabulary — here are some of the key terms you should know:
Toute (ou pleine) propriété/Full property rights: The full rights to own and live in a property, without any restrictions.
Nue-propriété/Empty property rights: Ownership of the bricks and mortar shell of a property, without the right of use.
Usurfruit/Usufruct: The right to use, live in, and profit from a property.
Droit d’usage et d’habitation/Right of use and of residence: The right to personally live in a property for one’s entire life. This is a restricted version of “usufruct,” in the sense that the seller has the right to reside in the property, with his or her family, but does not have the right to make money from the property. Nonetheless, he or she has no extra charges to pay other than those of an ordinary tenant. The right of use is personal, non-transferable, and is automatically forfeited upon the death of the beneficiary.
Crédirentier/Annuitant: The person who receives the annuity income due to them, the seller
Tête/Head: The person who receives the life annuity (the annuitant), or who nominates a third party to receive it, until his or her death, whereby payments are cancelled (see article 1971 of the Civil Code).
Débirentier: The person who owes and pays the annuity, the buyer.
Clause résolutoire/Resolutive clause: Clause that allows the sale to be annulled in certain cases.
Along with the annuity indexation clause, this resolutive clause is one of the most important parts of the contract. The fate of the annuitant, in the event of the buyer’s inability to pay, depends entirely on this clause.
As its name suggests, this clause brings about the resolution of the sale (i.e. its cancellation) should the annuity payments cease to be made, or if this person fails to pay the applicable sale charges.
Indexation: Revising the amount of the annuity based on inflation changes.
Until 1936, inflation was low and annuity rates were not indexed. Afterwards, particularly after 1940, prices generally increased, and the annuitant had less purchasing power as a result.
In 1949, the INSEE (Institute of National Statistics and Economic Research) addressed this problem by studying cost variations. The “cost of living index” was thus born, which is published every month and is used to re-evaluate the calculation of annuities.
Should this index cease to be published, an expert will choose a suitable replacement.
Editor’s Note: Lynda Sydney is the Marketing Manager for Parler Paris and French Property Insider. She can be reached at [email protected]
The Petit Palais Reopens This Year
The Petit Palais was built by Charles Girault for the Universal Exposition of 1900, opened officially December 11, 1902, as a city museum in which to showcase the works bought from the yearly salons. Most of the collection is the legacy of Auguste Dutuit comprising many paintings and sculptures of the XIXth century (Géricault, Delacroix, Courbet, Redon, etc.) with which it makes an interesting midway bridge between the Louvre and the Quai d’Orsay Museum. Among this collection you can find ancient artifacts, medieval objects, rare manuscripts and books, Dutch paintings from the seventeenth century. The collection includes western art from the Egyptian era to the present. The collection includes Poussin’s The Massacre of the Innocents, Ruben’s Prosperpina, and Rembrandt’s Self-Portrait with Poodle. There are also Impressionist selections from the nineteenth century by Pisarro, Morisot, Cassatt, Manet, Renoir, and Gauguin. The museum has also more than 12,000 prints. Dutuit also left a fund for the further purchase of works.
It has been closed since April 2003 for renovation.
MUSEE DU PETIT PALAIS
Avenue Winston-Churchill 75008 PARIS
Métro: Champs Elysées Clémenceau RER: Charles de Gaulle-Etoile Bus: 42, 72, 73, 80, 83
Rediscover the Architecture of Le Petit-Palais
By Adrian Leeds, Based on a Letter by Mayor Bertrand Delanoë to the Citizens of Paris
The reopening of the Petit-Palais scheduled for December 2005 is the second stage of a program of refurbishment and renovation of the Paris museums, in the spirit of
rt and culture accessible to all and to instill a renewed sense of patrimony to the inhabitants of Paris. The renovation of the Petit-Palais, the largest city museum falls under the perspective of an ambitious cultural policy.
The beautiful work of Philippe Chaix, both architect and scenographer, allowed the possibility to rediscover the original spirit of this architectural jewel built especially for the World Fair of 1900. The windows, entrances and interior structure allos the light to penetrate and accentuate the wide open spaces. Works of art will be better presented and the space will better accommodate visitors. Once again, the Petit-Palais will take its place as the jewel of 19th-century architecture in a district already revived by the Théâtre du Rond-Point. It’s café, bookstore, pedagogical workshops, and its auditorium will be provide yet another place for social and cultural exchange for Parisians.
Maire de Paris
Getting an Eye-Fool of Paris
By Adrian Leeds
Reprint from Parler Paris
Many times a week I walk up narrow curving rue Debelleyme northbound toward rue de Bretagne and gaze up at the Trompe l’Oeil painted windows on the facade of the building in front of me and ridiculously get fooled again and again.
“Trompe l’Oeil” literally means “trick the eye.” It is an art technique that creates an apparently realistic image as a type of optical illusion. The term comes from the Baroque, but its origins date back much further. Usually it refers to paintings on walls that create a deliberate attempt at false perspectives.
This building in Barcelona is a perfect example of well-executed Trompe l’Oeil on an exterior wall, but it can also be found on tables and other items of furniture, where it may look like a game being played with cards or other illusions. If you have ever visited Le Château de Versailles, then you have seen some of Trompe l’Oeil at is best.
Funnily, Trompe l’Oeil is featured in many episodes of Looney Tunes, such as the Road Runner cartoons, where Wile E. Coyote paints a tunnel on a rock wall and the road runner races through the fake tunnel. This is usually followed by the coyote foolishly trying to run through the tunnel after the road runner, only to smash into the hard rock — LOL (Laugh Out Loud).
One of the premier artists of Trompe l’Oeil is Yves Lanthier, a native of Québec, Canada and current resident of Florida who discovered his talent at the age of six, while sketching a portrait of his teacher in the Rembrandt style. He is well known for his large oil paintings and elaborate staircase settings on the ceilings and walls of the living areas in numerous East Coast mansions. Last December, a book about his life and most prominent work was published by F&W Publications entitled “The Art of Trompe l’Oeil Murals.”
This coming December, Yves Lanthier comes to Paris to teach his craft to a very select group of aspiring and willing-to-be-inspired artists. Hosted by Parler Paris (!), from December 29, 2005 to January 2, 2006, “The Art of Trompe l’Oeil Workshop” will include a Welcome Reception, a guided tour to Versailles, a guided tour of the Paris Hôtel de Ville (by invitation of the City of Paris!), a New Year’s Eve sparkling and sumptuous dinner at the historic Chez Jenny, three full days of painting with the master and a Certificate of Completion!
I’ll be there testing my talents. Hope you will be there, too!
To learn more about the workshop, visit http://www.paintwithyves.com/ and to register now click on https://www.registrationassistant.com or email Paula Winke at [email protected]
Get your tickets to the “Welcome to France Fair” today!
At the Expatica Welcome to France fair you will get the information you need from companies and agencies specialised in expatriate services.
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.
Welcome to France October 16, 2005 Carrousel de Louvre Paris, France Tickets are FREE before September 16 if you sign-up online. Click here
Editor’s Note: Adrian Leeds of French Property Insider and John Howell of EuropeLaw.com will be at booth #17 during the fair. Be sure to stop by and say hello!
LIVING AND INVESTING IN FRANCE
October 21 to 23, 2005
Sheraton Fisherman’s Wharf
Our popular three-day Living in France Conference will give you all the information you need to make your Paris dream a reality! The line-up for the conference includes seminars, discussions, dinners, cocktails with well-known Paris, Europe and U.S.-based experts. For West Coast folks, or those wanting more comprehensive information on all aspects of living in France, the San Francisco conference is a must.
INVEST IN FRANCE
October 26, 2005
Take just one day and learn from some of the finest experts in French real estate about the best ways to make your money and real estate investment grow. Join us at the prestigious Harvard Club for this power-packed one day event.
INVEST IN FRANCE
December 28, 2005
Enjoy your Christmas vacation in Paris, and set aside JUST ONE DAY of your busy schedule visiting museums and dining on foie gras to learn how to make your money grow, while building a portfolio of some of the most desirable real estate in the world.
For more information on The Invest in France Seminars or Living in France Conference, until we have our Web site up, contact Schuyler Hoffman, Projects Manager, at [email protected]/parlerparis to be put on a special mailing list to be notified when the details are in place (very, very soon!).
FRENCH PROPERTY EXHIBITION
September 23 – 25, 2005
National Hall, Olympia
Now in its 16th year, the London French Property Exhibition gives you the opportunity to learn about all aspects of buying property in France. Visit the John Howell and Co. booth to meet John Howell, and Adrian Leeds of Parler Paris and French Property Insider.
FOURTH PARIS POETRY WORKSHOP
October 2 – 6, 2005
This is your opportunity to spend five days in Paris as a poet among poets. Over the past several years, the success of each Paris Poetry Workshop has contributed to the creation of an expanding international community of poets writing in English, who come together from all parts of the world to generate new work, hone their craft, share and support one another’s creative endeavors. This is your chance to become part of this exciting and vibrant community.
THE ART OF TROMPE L’OEIL SEMINAR
December 29 – January 2
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
Apartments for Rent: Long-Term
The term “Long term” applies to furnished or unfurnished apartments available 1 month to three years. FPI provides a service to assist you in finding apartments in Paris or the adjacent suburbs based on your preferences, budget and needs. Our rental professional will provide an interview with you, an apartment search and selection, provide photos when possible, arrange up to five visits, assist you to negotiate the lease or on your behalf and do a final walk-through visit with you.
Long Term Apartment Search: $1450 Paid in Advance
To book your apartment search, click here: https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/booking.html
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”</fon t>
To book your services, 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: https://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: September 13, 2005 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: Charming Apartment on rue Pastourelle
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 https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/propertyconsultation.html
***Paris, 3rd Arrondissement, 3 rooms, 70m²
Located on rue Pastourelle in the Marais, in a building dating back to 1650, with a view of two private mansions. On the third and last floor, this bright apartment is in good condition and includes a beautiful living space, large bedroom and an open kitchen. The main floor is 70m², plus there is a mezzanine with a sloped ceiling which serves as an office. Features beams, parquet floors, pointe de Hongrie, floor tiles. The open space and height give this apartment lots of charm.
Asking Price: 495,000 Euros + 2.5% Finder’s Fee
HOT PROPERTY PICKS: Viager Values
***Paris, 7th Arrondissement, 3 rooms, approx. 100 m²
Viager without monthly payments, occupied by 2 people, a man 83 years old and a woman, 81 years. old. On the 4th floor with an elevator. A typically Parisian apartment with a living room, double fireplace, 2 bedrooms, ornamental balcony. Parking possible.
Asking Price: 559,500 Euros +2.5% Finder’s Fee
***Paris, 16th Arrondissement, 3 rooms, approx. 90m²
Viager in a cut stone building near Foch/Victor Hugo, occupied by a 78 year old man. Double living room of 44m² with a fireplace. 1 large bedroom, 2 possible, bathroom and toilet.
Asking Price: 488,000 Euros + 2.5% Finder’s Fee
Down payment: 170,000 Euros
Monthly Payment: 1,875 Euros
***Paris, 12th Arrondissement, 3 rooms, approx. 67m²
Near Place Daumesnil, occupied by an 83 year old woman. This viager includes the services of “Les Jardins d’Arcadie.” Apartment on the 6th floor, with an entry, living room with balcony, equipped kitchen, bathroom with separate toilet, 2 bedrooms. Parking space, cellar and double exposure.
Asking Price: Undisclosed + 2.5% Finder’s Fee
Down payment: 15,000 Euros
Monthly Payment: 1,400 Euros
SEEKING A MORTGAGE IN FRANCE?
Let us help you secure a mortgage in France with interest rates as low as 3%. Visit https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/loan for more information.
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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/
Leeds Marais Apartment
Available in its entirety October 19 – 31, 2005
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
For all short term rental apartments in Paris, take a look at https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apartments or https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/longterm.html for long term apartments.
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