Volume III, Issue 10
Happy New Year!
Last Thursday we were recuperating from a more-than-full day of property investment-related presentations, questions and printed information handed out to more than fifty participants in the Invest in France Seminar here in Paris.
London property attorney, John Howell opened the seminar with his more-than-perfect PowerPoint account of the process of purchasing property one can expect and one which should be thoroughly thought through before even beginning the search for the dream French home. He’s a tough act to follow, but Yolanda Robins, Property Search Consultant held her own in giving the audience a taste for what they should be looking for in Paris property, how to evaluate prices and predict the future of the city, from a real estate standpoint.
A sumptuous lunch was served by our hosts at Les Jardins du Marais, after which we settled back into the Monaco Room for presentations by Mary Fort of Banque Patrimoine et Immobilier (BPI) who assured us that mortgages were readily available in many types and configurations for non-residents; rental agents Alain Cartraud and Hervé Lamarche of AbsoluLiving.com gave us insight into what kinds of apartments rent best and how to profit from your Paris property; architect Derek Bush showed us his finest renovations and clued us in on structural issues to be aware of and before the closing presentation, the panel of all presenters held court while questions were fired in our direction. Strategist Terry Easton closed the seminar by sharing his words of wisdom on the future of the rate of exchange then we all headed off for champagne cocktails, thanks to Banque Patrimoine et Immobilier.
Conference participants turned in their evaluations — another seminar we can be proud of, by virtue of comments such as these:
“I think the day was great. Lots of important information. Your honesty re buying in France was appreciated. I had anticipated more of a hard sell, so thanks! John Howell was great. Derek Bush a great resource. Adrian, I’d love everyone to have your energy. Thanks for your commitment.”
“Thanks for a great conference! I feel confident that I will be able to find and purchase my dream property in France using the information provided by your fine selection of speakers. And it was great getting to meet the other participants.”
To read more, click on https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/conference_comments.html
A special thank you goes to Bill j2999on from Philadelphia who volunteered to staff the seminar along with Anne Morton, both San Franciscan and Parisian, who also volunteered her services throughout the seminar and before in preparation.
Yolanda Robins and I have booked our Eurostar tickets to attend the annual Vive La France French Property Show in London January 21 – 23, 2005 at the Olympia Exhibition Centre. We will be two of about 40,000 visitors to the show, busily gathering up information and making contacts for successful property searches and purchases. Stay tuned for a report just following the show.
Today’s issue isn’t short of valuable information and advice. We explore the two best ways of avoiding or reducing inheritance taxes, why the price you pay for Paris property is so much higher than the published averages and why they continue to rise, why certain arrondissements and cities hold bigger, brighter futures and what’s on in London that has to do with French property.
Today’s property picks include a special exclusive offering not yet on the market and upcoming auctions.
Editor, French Property Insider
Email: [email protected]
P.S. Parler Paris Après Midi meets Tuesday, January 11th from 3 p.m. to 5 p.m. at La Pierre du Marais. Visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apresmidi.html for all the details and to read the report from last month’s meeting
Volume III, Issue 1, January 6, 2005
In this issue:
* The First of Two Ways to Beat the French Inheritance Taxes
* What a Weird Word: Tontine?
* The Hague Treaty Cut Out the Tax Man
* The Second of Two Ways to Beat the Tax System — the SCI
* Book the Big Easy Before January 21st — Make Your Dream to Live in France Come True
* The Big Difference in Published vs Market Prices
* Why Prices Keep Going Up and Up
* Democracy at Its Best
* French Pr
erty Under One Roof in London
* Currency Exchange Update
* Hot Property: Level Ground on Ground Level in the Marais — an Exclusive
* Paris Property Picks: Central Paris
* What’s on Auction?
* Classified Advertising: Apartment Rentals
One of Two Ways to Avoid and Reduce French Inheritance Tax
By Adrian Leeds
Inheritance laws in France determine who will inherit your estate and in what proportions. These laws prohibit you from leaving your assets to the beneficiaries of your choice and in the proportions you may wish. This can be especially disadvantageous to surviving spouses, however, the more closely related you are to the beneficiaries, the less tax will be ultimately paid on the inheritance.
If you want to leave real estate to the person of your choice, there are several alternatives. One of the best ways is to make the purchase in joint names in a manner designed to leave the survivor with the ownership of the whole property (“tontine” or “communauté universelle”).
This option is offered by the provisions of Article 6 of the Hague Treaty dated March 14th, 1978. In such a situation, you would then have to sign a contract with your spouse to alter your existing marital regime (which normally provides for separate assets among spouses) to a regime of community property, of course BEFORE signing the property deed. It means that at the time of the death of the first spouse, the survivor automatically acquires 100% of the assets of the deceased spouse, without having to pay taxes under French law.
It is only when the second spouse dies that traditional French law applies and the heirs have to pay inheritance taxes on the entire value of the property. This can be very interesting from a tax point of view, however, keep in mind that the property is then held by you as individuals and not in the name of an SCI (Société Civile Immoblière).
The main consequence from a civil point of view is that you can no longer enforce a will under American law that dictates the beneficiaries of the property. Once the second spouse dies, French inheritance regulations will automatically apply and all your children will have a forced right on your assets.
Editor’s Note: Another alternative is to purchase property in the name of a Société Civile Immoblière (SCI), which can also enable the purchase of the property for rental. Scroll down for the details concerning this alternate method of managing inheritance consequences and tax. Information above provided by Stéphanie Sirot, Nénert & Associés Notaires and Stéphane Adler, Cabinet Bonnart-Bonnar-Adler.
TONTINE: A system of annuities in which the benefits pass to the surviving subscribers until only one is left.
The tontine is named after Lorenzo Tonti, a Neapolitan banker who started such a scheme in France in 1653, though it has been said that they were known in Italy earlier. Each subscriber paid a sum into the fund, and in return received dividends from the capital invested; as each person died his share was divided among all the others until only one was left, reaping all the benefits. In the original scheme, the capital reverted to the state when the last subscriber died, so it was really a kind of national lottery. The idea was taken up enthusiastically in France and later in Britain and the USA; it was used to fund buildings and other public works. (There are still several hotels and other buildings in Britain and the USA with the word in their names.) Later there were private schemes in which the last survivor got the capital as well. Tontines were eventually banned in Britain and the USA, because there was too much incentive for subscribers to bump each other off to increase their share of the fund, or to become the last survivor and so claim the capital. For that reason, it’s a wonderful plot device for detective story writers, who can use it as a motive for serial murder; it was the theme of The Wrong Box by Robert Louis Stevenson and his stepson Lloyd Osbourne in 1889 (made into a film in 1966). The concept survives in a limited way in France.
Editor’s Note: World Wide Words is copyright© Michael Quinion, 1996-2005. About Michael Quinon: http://www.worldwidewords.org/personal.htm
More about the Convention on Celebration and Recognition of the Validity of Marriages (The Hague, 14 March 1978).
Drawn up by the Hague Conference on Private International Law (44), replaces in the relations between the States who are Parties to it, the Convention Governing Conflicts of Laws Concerning Marriage, concluded at The Hague, the 12th of June 1902 (45).
The scope of this act is to facilitate the celebration of marriages and the recognition of the validity of marriages. As concerns the celebration of marriages, following basic principles are provided for by the Convention:
* the formal requirements for marriages shall be governed by the law of the State of celebration (Article 2);
* a marriage can be celebrated
o where the future spouses meet the substantive requirements of the internal law of the State of celebration and one of them has the nationality of that State or
o habitually resides there; or
o where each of the future spouses meets the substantive requirements of the internal law designated by the choice of law rules of the State of celebration (Article 3);
* The application of a foreign law may be refused only if such application is manifestly incompatible with the public policy (“ordre public”) of the State of celebration (Article 5).
As concerns the recognition of the validity of marriages, following basic rules are set forth by the Convention:
* a marriage celebrated by a diplomatic agent or consular official in accordance with his law shall similarly be considered valid in all Contracting States, provided that the celebration is not prohib
ited by the State of celebration (Article 9);
* where a marriage certificate has been issued by a competent authority, the marriage shall be presumed to be valid until the contrary is established (Article 10);
* a Contracting State may refuse to recognize the validity of a marriage only where, at the time of the marriage, under the law of that State
o one of the spouses was already married; or
o the spouses were related to one another, by blood or by adoption, in the direct line or as brother and sister; or
o one of the spouses had not attained the minimum age required for marriage, nor had obtained the necessary dispensation; or
o one of the spouses did not have the mental capacity to consent; or
o one of the spouses did not freely consent to the marriage (Article 11);
* a Contracting State may refuse to recognize the validity of a marriage where such recognition is manifestly incompatible with its public policy (“ordre public”) (Article 14).
The Convention on the law applicable to matrimonial property regimes (The Hague, 14 March 1978).
The Convention on the law applicable to matrimonial property regimes (The Hague, 14 March 1978) (46) aims to establish common provisions concerning the law applicable to matrimonial property regimes.
The Convention does not apply to:
* maintenance obligations between spouses;
* succession rights of a surviving spouse;
* the capacity of the spouses (Article 1).
Otherwise, it applies even if the nationality or the habitual residence of the spouses or the law to be applied by virtue of the following Articles is not that of a Contracting State (Article 2).
As a general rule, the matrimonial property regime is governed by the internal law designated by the spouses before marriage (Article 3) (47). If the spouses, before marriage, have not designated the applicable law, their matrimonial property regime is generally governed by the internal law of the State in which both spouses establish their first habitual residence after marriage (Article 4). During marriage the spouses may subject their matrimonial property regime to an internal law other than that previously applicable (Article 6) (48). The law applicable under the Convention continues to apply so long as the spouses have not designated a different applicable law and notwithstanding any change of their nationality or habitual residence (Article 7) (49).
As a general rule, the effects of the matrimonial property regime on the legal relations between a spouse and a third party are governed by the law applicable to the matrimonial property regime in accordance with the Convention (Article 9). The marriage contract is valid as to form if it complies either with the internal law applicable to the matrimonial property regime, or with the internal law of the place where it was made. In any event, the marriage contract shall be in writing, dated and signed by both spouses (Article 12). The designation of the applicable law by express stipulation shall comply with the form prescribed for marriage contracts, either by the internal law designated by the spouses, or by the internal law of the place where it is made. In any event, the designation shall be in writing, dated and signed by both spouses (Article 13).
Finally, it must be noticed that the application of the law determined by the Convention may be refused only if it is manifestly incompatible with public policy (“ordre public”) (Article 14).
The Second of Two Ways to Avoid and Reduce French Inheritance Tax
By Adrian Leeds
Société Civile Immoblière or SCI is a fully incorporated French company which can be the property itself. The SCI, in essence, owns the property and is itself owned by the shareholders. In many cases, the shareholders are family members, but often the shareholders can be friends or partners and can be both resident or non-resident in France.
The use of an SCI to purchase a property in France can overcome some of the disadvantages of French inheritance laws. Shareholders can
make provision that upon the death of one or the other, that his or her shares are passed onto the surviving shareholders, therefore ensuring that the controlling shares remain in the hands of the rightful owners.
Shares in a company are easier to distribute than property, and therefore managing inheritance, and transference of the property is simplified. The shareholder structure means that it is easier to divide up shares, rather than splitting the ownership of a property.
In turn, this makes it easy for individuals with small budgets to pool their funds and buy a property that they would not be able to buy individually. It is also easier to dispose of the shares without the aid of a Notaire, thereby making the SCI more flexible than direct ownership.
When using an SCI to buy a property, the net value of the property can be reduced for tax purposes by way of debt. This can minimize French wealth tax and inheritance tax liability. For non-residents, the use of an SCI can be a great advantage for people whose home inheritance laws are more flexible than French laws.
Upon death, normally the applicable law is French, however, if the property is owned through an SCI, the applicable law is of the last country of residence of the deceased.
Owning a home in France via an SCI enables the French property to become part of their estate of their home country, as opposed to direct ownership of immovable property, which is subject to estate law in France.
Another advantage is that the terms of an SCI can be changed at any moment, but while there are numerous advantages, such as this, there are a few drawbacks. There is additional expense to set up an SCI approximately 1500 Euros, although that varies with Notaire and attorney. Purchasing a property via an SCI does not reduce Notaire fees and taxes and will incur operating expenses. In particular, if the property is rented furnished in a commercial manner, the SCI would be liable for company taxation and there would be a big increase in the work required on tax returns each year, also incurring additional expense. This applies particularly leaseback or other properties you intend to rent furnished.
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Living and Investing in France
February 11 -13, 2004
Sheraton New Orleans Hotel, Canal Street
Click here to learn more https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_NOLA/LIF_NOLA_home.html
or email Projects Manager, Schuyler Hoffman at :[email protected]/parlerparis
Understanding the Great Divide
By Yolanda Robins
Last week we held the Invest in France seminar in Paris for more than 50 participants who were interested in investing in property in France. During my presentation, “Finding Your Dream Home in Paris,” I discussed the differences between the per square meter market valuations published by the Chambre de Notaires and current market valuations. It was astonishing for our participants to learn that there is a great divide between those figures, ranging from 30% to 50%, depending on the arrondissement.
For example, in the first arrondissement which comprises the neighborhoods of Châtelet/Les Halles, Montorgueil and Palais Royal, the latest published price per square meter figure for the period ending June 30, 2004 is 5,370 Euros/m2. Conversely, current market valuations in this area are around 7,500 Euros/m2 , on average, which represents a variance of nearly 40%. In the city of Paris as a whole, the difference is approximately 47% between the published figure of 4,316 Euros/m2 and 6,367 Euros/m2 on average for current prices.
Why the difference? There are several factors contributing to this great divide.
First is timing. There is approximately a 90-day period from the time an offer is made on a property until the time of closing. Thereafter, the numbers may not be reported until up to six months to the office of the notaire.
Secondly is the reduction in the purchase price, which can be attributed to direct payments made to the agent to help reduce notaire fees; listing of inventory of fixed furniture such as built-ins and appliances; and under-the-table cash transactions, which are illegal but do occur.
Finally, the figures are blended or diluted as they are reported by an arrondissement in its entirety and do not account for differences by neighborhoods. For example, in the 18th arrondissement, a property in the heart of Montmartre can be sold for around 5,300 Euros per square meter or more, while a property near Château Rouge or Max Dormoy, which are more “less desirable” neighborhoods will be listed for around 3,400 Euros per square meter, which represents a variance of nearly 54%.
The following table is an extrapolation of an analysis to illustrate the differences between published market valuations and current market pricing:
You can visit the Chambre de Notaire Web site at http://www.paris.notaires.fr to view the latest published figures of market valuations and the evolution of prices per square meter in the marketplace.
Don’t Blame the Foreigners for Driving Up the Prices
by Adrian Leeds
Over the course of one quarter (first quarter 2004 and second quarter 2004) Paris property prices rose 4.2% and in the all of Ile de France, 3.2%. For the year,
(second quarter 2003 to second quarter 2004), Paris property prices rose 13.1% while the Ile de France rose 13.5%.
Many complain that the influx of foreigners buying in France has greatly contributed to the price increases, and in Paris particularly, those less fortunate are seeking lower priced housing in areas outside of the city while prices are rising steadily as much as 18.2% (10th arrondissement). While, this may be one factor, the Chambre de Notaires attributes the rise in property values to these four factors:
Societal: an increase in the number of households due to the young who move out from their family abodes to their own apartments and homes, an increase in divorce and single-parent families.
Demographic: the effects of a “mini baby boom” and increase of life expectancy.
Patrimonial: the ability to make a property purchase with less risk by virtue of more secure and more financial products on the market.
Financial: low interest rates, available for longer terms, offered by more lending institutions.
Of course, the appreciation of property is a benefit for investors, while not necessarily an advantage for residents who find property less affordable as salaries don’t keep up with property price increases. On the other hand, property appreciation provides an opportunity for growth, as from a capitalistic point of view, the rewards filter down to the masses in many other ways.
Forum de la Democratie
January 28 and 29, 2005
Mairie du 3ème
By Adrian Leeds
The Mairie of the 3rd Arrondissement of Paris is one of the leaders in the new initiatives to involve the residents of the district in the running of the district and have more of a voice in the decision-making. You may remember that last January, in a pioneer effort, a vote was called for all residents (not “citizens,” “residents”) to determine a plan to renovate the historic Carreau du Temple, a decision between three proposals: “un espace pour tous,” “un espace sportif,” and “un espace jeunesse et une salle de spectacle.”
This coming January 28th and 29th, the Mairie of the 3rd Arrondissement asks its residents to join with it in its efforts to plan for the future. A call for candidates for new council members was distributed in the form of a flyer in all residents’ mail boxes, advertising events taking place at the Mairie beginning Friday evening the 28th and all day Saturday the 29th.
There are three geographic divisions of the arrondissement and each council will be comprised of 33 members, further divided to balance the participation by men and women. Council meetings will be held in public forums so that the public can further express themselves.
The 3rd isn’t the only part of Paris or France taking this action. You will find similar initiatives in the 10th arrondissement and in cities such as Lyon and Strasbourg. In communities where participation by the residents is strong, you will likely see growth and improvement and as a result, rising real estate values.
For property speculators, these are important signs to watch for — and be ahead of the trends by purchasing in these areas early on.
EMBARK ON A FRENCH ADVENTURE AT VIVE LA FRANCE
The Annual French Property Trade Show
January 21 – 23, 2005
Olympia Exhibition Centre
Vive La France, the UK’s only French travel, lifestyle and property show, will be returning for a sixth successive year in January 2005 at London Olympia.
More than 38,000 affluent and sophisticated visitors are expected and over 600 French and British exhibiting companies will bring the delights of France to the heart of London. Vive La France is a true celebration of the very best of France. Launched in January 2000, Vive La France, the culmination of French Week, has enjoyed continue success and 2005 will no doubt be even more enjoyable than ever!
To book, or find out more about the show visit http://www.vivelafrance.co.uk or call the ticket hotline on + 44 870 902 0444.
SEEKING A MORTGAGE IN FRANCE?
Let us help you secure a mortgage in France with interest rates as low as 3.35%. Visit https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/loan for more information
TODAY’S CURRENCY UPDATE
Live mid-market rates as of 2005.01.06 15:56:38 GMT.
1 U.S. Dollar equals 0.759168 Euros (0.743426 Euros last week)
1 Euros equals 1.31723 Dollars (1.34512 U.S. Dollars last week)
1 U.K. Pound equals 1.42399 Euros (1.42616 Euros last week)
1 Euro equals 0.702251 U.K. Pounds (0.701185 Pounds last week)
*** HOT PROPERTY
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
EXCLUSIVE OFFERING —
Rue des Tournelles, Paris 3rd arrondissement, on a quiet street located two blocks from prestigious 17th-century Place des Vosges, a few minutes walk from Place de la Bastille, Opera and Métro.
Located on the ground floor of a medium-sized 18th-century building,
recently renovated, with an old and impressive thick wooden door. Enter a private courtyard at the end of a wide hall, with teak table and chairs, fountain, and plants. Pass through a security door to the apartment comprised of two main rooms, both large by French standards, total ling approximately 48 square meters. The living-room is on the left, lit by a window on the rue des Tournelles. The ceiling is partially timbered with thick exposed beams, a rare fireplace, antique floor tiles. The kitchen communicates with the living-room through a serving hatch. The bedroom window opens onto the private courtyard. It’s very quiet. At the far end, a “corridor” provides for storage space and leads to the bathroom (with shower). Light renovation to be done. The building is peaceful, with friendly neighbors.
72 rue des Tournelles
rue des Tournelles
295,000 euros + 2% Finder’s Fee
PARIS PROPERTY PICKS:
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
* 3 Rooms 68 m²
75001 Paris 1st
Proximity: Marché St Honoré
Asking Price: 515,000 Euros + 2% Finder’s Fee
18th-century building in perfect condition, 1st floor without elevator, view on the street and courtyard, west orientation, entry, equipped kitchen, large living room with fireplace, two bedrooms on courtyard, bath with toilet and separate toilet, parquet flooring, cabinetry, double paned windows, digicode, large cellar.
* 4 Rooms + terrace 100 m²
75002 Paris 2nd
Asking Price: 619,000 Euros + 2% Finder’s Fee Euros
Métro Sentier, in an old convent of the 19th-century with planted garden, loft and terrace, comprising entry, double living room with parquet flooring, independent kitchen, bath, separate toilet, mezzanine with bedroom and office, second bedroom with shower, calm, sunny, digicode, interphone, elevator.
* 5 Rooms
75003 Paris 3rd
Proximity: Arts et Metiers
Asking Price: 590,000 Euros + 2% Finder’s Fee
Double living room, two bedrooms, office, perfect condition, exposed beams, terra cotta tiles, high ceilings, sunny.
* 2/3 Rooms
75004 Paris 4th
Proximity: Place des Vosges
568,000 Euros + 2% Finder’s Fee
Between Place des Vosges and rue Saint Antoine in a superb hôtel particulier, on the 5th floor with elevator, two to three rooms, sunny and quiet. Very good condition, possibility of garage.
*** Paris Auctions
Next sessions: January 25th, 2004, 2 p.m.
Notaires de Paris
Place du Châtelet
12 avenue Victoria
Additional information on Les Ventes aux Enchères des Notaires can be found on the website at http://www.encheres-Paris.com/ Though the site has a button for an English version, it isn’t reliable to work.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
|2 Rooms 37 m² rented
142 avenue Ledru-Rollin
75011 PARIS 11th
Starting Bid: 51,000 Euros
Deposit: 10,200 Euros
|Studio 17,9 m² rented
18 rue Auguste Chabrières
75015 PARIS 15th
Starting Bid: 28,000 Euros
Deposit: 5,600 Euros
|Studio 35,60 m² rented
142 avenue Ledru-Rollin
75011 PARIS 11th
Starting Bid: 45,000 Euros
Deposit: 9,000 Euros
|2 Rooms 45,53 m² + box
6 rue de l’Abbé Groult
75015 PARIS 15th
Starting Bid: 161,000 Euros
Deposit: 32,2000 Euros
|2 Rooms 47,75 m² rented
142 avenue Ledru-Rollin
75011 PARIS 11th
Starting Bid: 98,000 Euros
Deposit: 19,600 Euros
|2 Rooms 23,56 m²
89 rue Nollet
75017 PARIS 17th
Starting Bid: 46,000 Euros
Deposit: 9,200 Euros
|2 Rooms 35,90 m² rented
142 avenue Ledru-Rollin
75011 PARIS 11th
Starting Bid: 66,000 Euros
Deposit: 13 200,00 Euros
|3 Rooms 52,7 m²
62/74 boulevard Garibaldi
75015 PARIS 15th
Starting Bid: 168,000 Euros
Deposit: 33 600,00 Euros
|3 Rooms 60 m²
31 rue de Constantinople
75008 PARIS 8th
Starting Bid: 150,000 Euros
Deposit: 30,000 Euros
PARLER PARIS APRES MIDI
NEXT MEETING: Tuesday, January 11th, 2004 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.
For a detail description of the past meeting and for more information
about Parler Paris Après Midi, visit:
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
Insider Paris Guides has gotten a “face-lift” with the start of 2005. We’ve done a serious evaluation and narrowed it down to a few of our favorites. Stay tuned for some new ones on the horizon, too. Just yesterday, I replaced last quarter’s edition with a new version of the “Leeds Good Value Guide to Paris Restaurants” — with more than 200 of my favorite good-value non-touristy haunts. If you think it’s cool to tell your friends you dined at “Le Procope” or “Bofinger,” think again. Leave these for the “Paris-for-Dummies” crowd and venture into lesser-known parts of Paris where the real Parisians spend their time, spend less money and enjoy it more.
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
Order more than one guide at a time and you will receive an additional
THINGS YOU NEED TO KNOW
– To access this password protected page:
The username is: fpisubscriber
The password is: paris1001
If your computer utilizes cookies, once you log into a subscriber only section, the login information will remain active for seven days, after which you will have to login again.
– Past issues of FPI are available on the website. You will find the “Past Issues”link on the left under “Subscribers Only”or by going to https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/pastissues/index.html
– To receive your free French Leaseback Report or the Paris Property Report, click on
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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/
SUBSCRIBE TO PARLER PARIS
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