Financing Your Property Purchase at Today's Rate of Exchange

More and more the Investing in France Conference scheduled for February 11 – 13, 2005 in New Orleans is shaping up. This conference, we are honored to have the team from Moneycorp discussing with attendees how to “Protect Yourself From Foreign Exchange Risk.”

Moneycorp is the global leader providing corporate foreign exchange and cash deposit services. With this concern at the top of our list, learning how to hedge our bets with exchange rates is very valuable and useful. Alexander Wright, Director of Private Client Services, Windsor, assisted by Doug Johnson, Private Client Manager, San Francisco and Mark Rickard, Sales Manager of Moneycorp will be leading the discussion at the conference. For more information re Moneycorp services, visit http://www.Moneycorp.co.uk/ and for more information about the Living and Investing in France Conference, visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_NOLA/LIF_NOLA_home.html
We are also very proud to welcome President of the French-American Chamber of Commerce, Louisiana Chapter, Damien Regnard, who will be speaking on “Doing Business in France.” He hopes to open opportunities for entrepreneurs seeking ways of making a move to France. In turn, Ruth Mastron (co author of “Au Contraire: Figuring Out the French), John Howell (lead attorney for John Howell & Co., London) and myself will be speaking at the French-American Chamber of Commerce annual dinner February 14th providing a glimpse to those of us on the opposite side of the business coin. for more information about the chamber, visit http://www.ccife.org/usa/louisiane/
More and more of our readers are proposing for us to help them promote and sell their French properties, and while we are not listing agents, we do have the ability to bring these properties to your attention.
In today’s issue, three such properties in Paris are hot in our hands: One luxurious apartment in very heart of the city in the 1st arrondissement that has been a rental apartment for a while and already has a clientele built in; a fabulously bright and sunny open loft in the 11th arrondissement that is sold as a “droit au bail” — the lease you purchase with nine years of rights to the space; and a rez-de-chausée apartment in the Marais with lots of rental potential.
A “droit au bail” enables a party to, in effect, own or have the right to the lease on a property for a determined length of time, in this case nine years. The cost of the bail is usually the difference between the rental value of the property and what is actually paid, resulting in a savings of rent and providing for the ability to realize profits when the droit au bail is resold. When you scroll down to read about the loft in the 11th for “sale,” consider that for a small investment, you will not only reduce your monthly rent a great deal, but be making an investment that will grow with the appreciation of the market.
More and more of our team are getting on the Vonage phone bandwagon. With these VOIP (Voice Over IP) phones that make a connection via broadband Internet, we are able to speak with you from Paris at the cost (or less) of a U.S. phone call — 3 cents a minute and less! Plus, when we get messages, they are emailed to us as wav files, so we have record of your message that can even be passed on. It’s a Godsend for those of us who speak often to the U.S.
To reach Yolanda Robins, by phone, you may dial (310) 427-7589. It’s a Los Angeles number, but beware, it rings here in Paris. Her email is [email protected]. To reach our Projects Manager, Schuyler Hoffman, who is responsible for all conference coordination and registrations, you may phone him at (310) 427-7589. It’s a Los Angeles number, but he’s in Seattle on Pacific Standard Time and to email him, write to [email protected]/parlerparis To reach me, Paris time, dial another Los Angeles number (310) 427-7589 and to email me, [email protected] will do.
You can sign up for the service and with our referral, you will get a credit for a FREE month of service when they sign up as a new customer on the Vonage website. The amount of credit depends on which plan you choose and the credit will appear on your second month of service. When we refer our friends, Vonage automatically sends an e-mail with the Refer-A-Friend e-coupon to you on our behalf. You will need to sign up as a new customer on the Vonage website using the e-coupon link that is sent to them to activate the Refer-A-Friend offer.
If you wish us to refer you, simply send an email to [email protected]
More and more readers of both French Property Insider and Parler Paris showed up for this past week’s Parler Paris Après Midi coffee gathering. Be sure to read how surprisingly old friends hooked up after many years and how much successful networking is accomplished by meeting other readers who are seeking similar achievements. Visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apresmidi.html for the details and photos.
Next week, we are gearing up for the Vive La France French Property Show in London January 21 – 23, 2005…sure to give us lots of additional insight into investing in Property in France. Scroll down for details.

A bientôt…

Adrian Leeds
Editor, French Property Insider
Email: [email protected]

P.S. Note of urgency…our special group room rates at the Sheraton Hotel New Orleans aren’t guaranteed after January 21, 2005, so be sure to book your stay NOW! For more information about the Living and Investing in France Conference and to reserve your places, visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_NOLA/LIF_NOLA_home.html

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Volume III, Issue 2, January 13, 2005
In this issue:
* How to Think Like a Banker to Get Your Loan
* Furnish Your Pied-à-Terre This Month — Les Soldes d’Hiver are Off to a Good Start
* Protecting Yourself from Exchange Rate Fluctuations
* Moneycorp Speaking at Living and Investing in France Conference
* Book the Big Easy Living and Investing in France Conference Before January 21st to Save $600!
* What You Need to Know Before You Sign the Promesse de Vente
* See You Next Weekend at Vive La France in London
* Currency Exchange Update
* Paris Property Picks:
* Leaseback News: Paris Properties, Alsace Village
* Classified Advertising: Apartment Rentals
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Think Like a Banker to Get The Mortgage You Want
By Tahminae Madani
I was recently approached by an American client who had been turned down by a French bank for a mortgage in Paris. He was completely perplexed as to why he could not get financing — he had a steady job, good income and little debt. Believe me, it happens and more often than you would think.
So why? Well, bankers happened. Bankers are risk-averse people. If they lend you money, they want to be 200% sure you are going to pay it back. Unlike the sales person you speak to at the bank, the analyst who studies your application is normally paid a bonus to minimize the number of defaulted loans.
If you look like a risk, you’re guaranteed to get offered a higher interest rate — if they offer you a loan at all. The best way to get the mortgage you want under optimal conditions is to think like a banker when filling out your application.
Here is a brief summary of what they ask for, and why:
Your Revenue
What: last 3 months pay slips, last income tax statement, (or last 3 years balance sheets and income statements for the self-employed)
Why: stability of incoming revenue throughout the mortgage term
The ideal client has been employed a long time with the same company, or at least in the same industry. If you are self-employed, the banks want to see three years of profitable business.
Your Expenses
What: payment schedules for all existing loans, last 3 months bank statements for all accounts
Why: how you pay for where you live today, how responsibly you spend and your ability to reimburse your existing debt
Every client is assumed to have housing expenses, either rental or ownership. You need to show the amount of your mortgage, proof that your mortgage is paid or your rent payment. If you stay with friends or family for free, the banker may add a hypothetical rent amount to your expenses. In addition to your housing expense, the bank wants to know what other legal debt obligations you have: credit cards, car, student or personal loans. They take a close look at the amount you spend each month versus the amount you earn to be sure that you are living within your means.
Your Debt Ratio
What: your total monthly expenses (as above) plus the monthly payment for your new loan, divided by your net monthly income (gross income less social charges).
Why: Your debt ratio indicates your ability to pay. Depending on the bank and type of mortgage you request, this ratio must not exceed 30 to 35%.
Your Property
What: Location, location, location.
Why: The banker always prepares for the worst. If you are not able to keep up your mortgage payments, the bank wants to know that they can sell your property quickly to get back the money lent. For example, Parisian apartments and houses on the Côte d’Azur are easy to sell quickly. There is much more demand than supply. It’s much harder to find a buyer for a farm house in the Normandy countryside two hours drive from a major city with renovation that has not been completed.
So what do you do if you don’t fit this profile?
Don’t panic, it’s all in the preparation and presentation.
You must always provide truthful and accurate information with your mortgage application, but how you package and present that information is what counts.
Put your banker hat on and think: if you don’t have the ideal profile, provide additional information to make your application stronger, including a letter from your banker, an accountant or other logical explanations for oddities in your paperwork. Putting your best foot forward at the beginning reassures the bank and is much more effective when done in anticipation of the banker’s questions than in response.
If the explanations won’t do it, other options may be available. For example, renegotiating your existing loans or finding a different mortgage product to reduce your new loan payment and make your numbers work.
It’s always a good strategy to take an in-depth look at mortgage products from multiple banks to give you the most flexibility and best chance of getting a mortgage on the terms you want. By doing so, you enjoy a much stronger position, since you are asking for a loan you know you are eligible for from the start, rather than getting rejected and having to change your application.
Now you are ready, put on your banker hat and write that winning
mortgage application!
Editor’s Note: A for
mer banker with GE Capital, Tahminae Madani has been living and working in France for the last 4 years. France Home Finance, her Paris-based mortgage brokerage, provides mortgage expertise and assistance with the purchase process for non resident and expatriate buyers in France. Tahminae and her bi-lingual team know the ins and outs of financing in France to be sure her international clients get the best mortgage with the least amount of hassle to make their dream of owning property in France come true. You can learn more about buying a home and getting a mortgage in France by visiting http://www.francehomefinance.com, or contact Tahminae at [email protected]
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Winter Sales Kick-Off In Paris
Now’s a great time to furnish your Paris apartment at half the price! The traditional winter sales season opened in Paris yesterday, with shoppers queuing for bargains from before dawn outside the major department stores. Discounts of more than 50% were offered on household items and clothing as managers seek to sell surplus stock accumulated over Christmas.
Subject to tight government regulations, which forbid store-owners from launching their sales early, the season is set to last till February 12 in Paris and for a further two weeks in other parts of the country.
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Imoinvest.com Leaseback Property Agency Monthly Newsletter
Question of the Month: “How will exchange rate fluctuations affect the value of my overseas property and how can I protect myself?”
A: Currency fluctuations directly affect the value of your overseas property. To use an example, due to fluctuations in the value of the Euro against the Sterling earlier in 2004, a Spanish property priced at 200000 Euros would have cost 131600 Sterling in mid-April 2004 and 134000 Sterling in mid-May 2004. A difference of 2400 Sterling in just one month. Such fluctuations, often far more exaggerated, are not uncommon and therefore pose a considerable risk to buyers. You can either accept this risk or protect yourself from it.
As a buyer, there are essentially two ways to protect yourself from currency risk, depending on your circumstances. Through a currency trader, you can fix exchange rates for up to two years, therefore guaranteeing the price that you will have to pay. Alternatively, a currency trader might recommend the use of what is known as a market order to secure a minimum exchange rate. Whatever your circumstances, by speaking to a currency trader, you will be better informed about the currency transaction that you will have to make.
Latest Bank Conditions
* LTV: up to 80% of TTC
* Variable Interest Rate: 2.95% to 3.95%
* Fixed Interest Rate: 3.85% to 4.85%
* Terms: 10 / 15 / 20 years
* Fees: 1% to 1.196% of loan amount
As a foreigner buying property abroad, we recommend obtaining the mortgage through a bank in the country of purchase for two very important reasons:
First, because our agency is in daily communication with several of the largest financial institutions within our investment areas and can therefore help you receive the credit you are looking for (which you could not necessarily obtain by your own devices).
Second, because in the case of a Leaseback program or classic property purchased with the intent to rent, you will receive your rental income in the currency of the foreign country. In other words, it is advisable to open a bank account with the mortgaging bank into which you receive your rental income and also expense your mortgage payments, thereby avoiding transfer and currency exchange fees.
Editor’s Note: IMOINVEST International Real Estate works hard to make the investment process as hassle-free as possible for our customers. We are therefore proud to offer assistance through our wide range of affiliated real estate developers, management companies, financial institutions, notaires, solicitors, accountants, and French Consulates around the world. Through this affiliation, and because we have established excellent rapport with these companies, we are able to pass on competitive rates and a wide variety of real estate and financial programs to our customers. For more information, contact: [email protected]
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Protecting You From Foreign Exchange Risk
The Moneycorp team is joining the Living and Investing in France Conference, February 11 – 13, 2005, New Orleans.
Moneycorp INC is a global leader providing corporate foreign exchange and cash deposit services. Their proposition is both unique and compelling, offering tailor-made brokerage and risk management services to both corporations and private customers.
Managing your organization’s surplus funds is a balancing act. You want to get the best return possible but you also need to be comfortable that your money is safe and that you can get to it when needed.
Currency fluctuations can be the deal-breaker for an importer or exporter. Frequently an overseas deal will be meticulously costed, tendered-for, negotiated, and executed, only for anticipated profits to be subsequently wiped-out by fluctuations in the currency markets.
Whether buying a holiday home or emigrating to far off shores, hundreds of thousands of people need to transfer money from one currency to another every year.
For a variety of reasons many organizations are compelled to transact their foreign exchange through their bank. However, they still face substantial financial risks from movements in foreign exchange rates and few have the resources to manage this risk.
Alexander Wright, Director of Private Client Services, Windsor, assisted by Doug Johnson, Private Client Manager, San Francisco and Mark Rickard, Sales Manager of Moneycorp will be leading the discussion at the conference. For more information re Moneycorp services, visit http://www.Moneycorp.co.uk/ and for more information about the Living and Investing in France Conference, visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_NOLA/LIF_NOLA_home.html
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Change your life…live in the City of Light…Paris.
In just three days you can have all the tools you need to totally transform your regular life… into la vie française… and you can do it without leaving the US of A. In fact, you can do it by spending those three important days in one of the greatest cities in the US — “Nouvelle Orléans.”
In one fun-filled and informative weekend, you will have everything you need to make it happen. We are going to teach you how to…
** Obtain the Right to Be in France…
* Learn the Language…
* Earn a Living in France…
* Minimize Your Tax Liability…
* Find, Buy and Own Property…
* Learn About the Leaseback Program…
* Rent Your Property for Profit…
* Get a Mortgage…
* Protect from Foreign Exchange Risks…
* Cross the Cultural Divide…
* And more!…
Ask your questions of our experts — get the real answers. This is your opportunity.
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
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The Traps to Avoid With the Preliminary Contract (La Promesse De Vente)
http://www.notaires.fr/
WHAT YOU MUST KNOW BEFORE THE SIGNATURE OF A MUTUAL AGREEMENT
According to article 1589 of Civil code: “A promise of sale is equivalent to a sale, when there is mutual consent of both parties on the matter of the thing and the price.”
The mutual agreement generates rights and obligations that the purchaser must know before he’s signing this deed, even if the transfer of property of the asset is postponed to the day of the signature of the authentic deed.
RIGHT TO RETRACT OR COOLING-OFF PERIOD
Since 1st June 2001 the non professional purchaser of a dwelling house, benefits of an option of retraction if the preliminary contract is concluded under private signature, or of a cooling-off period if the preliminary contract is concluded by an authentic instrument. During this period, any down payment is forbidden.
RIGHT OF RETRACTION
The non professional purchaser can retract within seven days from the following day of the first presentation of the letter signifying the contract. This rule provision applies to the instruments under private signature which the matter is the construction or purchase of a building used for accommodation.
The contract is signified by a recorded-delivery letter or by any other kind of method with the same guarantees for the determination of the date of receipt or delivery.
COOLING-OFF PERIOD
A cooling-off period is allowed when the preliminary contract must be established as the authentic deed. The contract must not be immediately signed by the parties. The notary must send the deed to the purchaser which has seven days period to think and indicate if he gives up the purchase.
REMITTANCE OF FUNDS TO THE VENDOR
In principle, the selling price of an immovable property should never be paid to the seller before the registration of the deed of sale in the Mortgage Registry and the delivery of a certificate attesting that there is no registration of mortgage superior to the amount of the price. In fact, before this publication, if the purchaser has delivered the price to the vendor, he risks to pay a second time or to abandon the asset if the mortgages exercise their indefeasible right pertaining to the mortgaged estate. In practice, to avoid these risks to the purchaser, he doesn’t pay the selling price directly to the vendor. But he deposits the amount to the notary. Then, the notary can pay the vendor if the certificate doesn’t reveal any registration of mortgage superior to the amount of the price.
SWIFT TRANSFER
Checks made out in euros and drawn in foreign countries or made out in foreign currency take on important risks: long and uncertain cashing periods, very long refusal periods in some countries, non guarantee of payment (risks of non cashing). In some countries, the legislation in force doesn’t protect very well the payee of a check. It’s the address of the cleared bank which determines the legislation applicable for the payment of the chouse. To avoid these risks, French notaries use SWIFT transfers to receive funds from foreign countries. SWIFT system uses a bank telecommunications network on a world scale. To receive a SWIFT transfer, the French notary will beforehand communicate to his correspondent:
— his name, capacity, name of his office (and, if it’s necessary, the reference of the operation)
— the SWIFT references of the bank in which the funds will
be transferred and his IBAN (International Banking Account Number).
With this information the bank of the purchaser will be able to transfer the funds.
WHO PAYS THE COSTS ?
According to article 1593 of Civil code “the costs of instruments and other accessory to a sale shall be charged to the purchaser.”
The costs of article 1593 of Civil code are the necessary costs for the deed of sale.
Essentially, they include the costs for the drawing up of the deed, the remuneration of the Mortgage Registrar etc.
On the other hand, the expenses that the purchaser advances for the redemption of a mortgage are payable by the vendor.
If the seller advances the costs, he has a right to ask the reimbursement to the purchaser.
According to article 1715 of General Tax Code, the taxpayer of the property tax is the one who is the owner on the 1st January. On January the first, the owner is the debtor of the entire tax. This principle is also applicable to residence tax (“taxe d’habitation”).
However, regarding of property tax, the parties can agree on a different dispatching of this tax. But these agreements will just have effect between the purchaser and the seller. These agreements are not opposable to the tax authorities, which, in all cases,
will collect the tax from the person who is the owner on January the first.
EASEMENTS
An easement is a burden imposed upon a property, build or not (servient tenement), for the benefit of another property belonging to another owner (dominant tenement).
In the deed of sale, it’s often stipulated that the purchaser will benefit of the easements if the asset is a dominant tenement and he will bear the open or hidden easements if the asset is a servient tenement.
The purchaser will not have action against the vendor. The vendor must declare the easements created by him or the easements that he let create on the assets.
The town planning information document will reveal if easements exist which are the result of town planning rules. The preliminary contract is generally concluded subject to a suspensive condition that the town planning information document will not reveal easements which can affect the substance or the value of the asset.
WARRANTY AGAINST OBVIOUS DEFECTS
When the object of the sale is a building to be erected, the purchaser can be protected by the warranty against obvious (or visible) defects.
The concept of visible construction defects applies to any failure in workmanship, whatsoever, discernible by an uninitiated observer.
According to article 1642-1 of Civil code — the seller of a building to be erected may not be discharge, either before approval of the works, or before the expiry of a period of one month after the vesting of the purchaser into possession, for defects of construction then patent.”
During one month after the purchaser has taken possession, he must use the period made available to draw attention to all visible defects that may have come to his notice, under the terms of contract, and which he may not have been aware of at the time of the handing over of the keys. After the one month period, the vendor is no longer liable for obvious defects.
If obvious defects exist, the purchaser has a choice: he can give back the asset and ask the repayment of the price or keep the asset and ask the repayment of a part of the price.
If the vendor repairs the defect, there is no need to invalidate the contract or reduce the price.
WARRANTY AGAINST HIDDEN DEFECTS
The articles 1641 at 1649 of Civil code prescribe the warranty against hidden defects.
The vendor must warrant against hidden defects in the thing sold which makes it unfit for the use of which it is intended, or which so impair this use that the purchaser would not have acquired it, or would only have paid a lower price, if he had known them.
This warranty is applicable to all kind of sale and notably to the sale of real estates.
If the legal requirements of articles 1641 and following of Civil code are fulfilled, the purchaser has a specific action which object is to warrant him against hidden defects.
However, the purchaser must act rapidly and according to a particular proceeding. If all the conditions of the action for hidden defects are fulfilled, the purchaser can obtain, according to his choice, whether the annihilation of the contract or a reduction of the selling price. The vendor is liable to these penalties even if he’s in good faith. The purchaser can also ask the restoration of the building or its replacement.
REGULATION RELATING TO HEALTH
LEAD POISONING PREVENTING MEASURES
According to article L. 1334-5 of Public Health Code (“Code de la santé publique”), a certificate relating to the risks of accessibility to lead is appended to the unilateral undertaking to sell or purchase, to the deed realizing the sale of a building used even in part to accommodation, build before 1948 and situated within a zone subject to lead poisoning hazards. This certificate must be established since less than one year before the date of the unilateral undertaking to sell or to purchase or of the deed of sale.
If the certificate is not appended to these deeds, no exoneration clause of warranty against hidden defects can be stipulated for defects relating to the accessibility to lead.
ASBESTOS REGULATIONS
According to a decree of 7th February 1996, the owners of buildings (except for the detached houses) build before 1st July 1997 must, subject to penalty in case of default, search the presence of asbestos in products or materials and carry out, possibly, to a periodic control, to a supervision by a registered professional or to appropriate works. The deadline to make these controls expired the 31st December 1999. If, at the time of signature of the preliminary contract, this control hasn’t been made, a suspensive condition specifying that the control doesn’t reveal the presence of asbestos must be inserted.
A certificate revealing the presence or, possibly, the absence of asbestos in materials or products in the building must be appended to the unilateral undertaking to sell or to purchase and to any contract concluding the sale of some kinds of buildings. Without this appended certificate, no exoneration clause of warranty against hidden defects can be stipulated for the defects relating to the presence of asbestos in these elements of the building.
TERMITES
A Law of 8th June 1999 lays down to the owners of buildings located in an area contaminated, or open to be contaminated, particular obligations. The owners must provide a parasitical certificate established before less than three months, or warrant the purchaser for the hidden defects of presence of termites, without possibility for them to insert an exoneration clause. This parasitical certificate, established by an expert, identifies the building and indicates the places checked in the building and the ones not checked, the infested elements by termites or which have been in the past and the ones which are not, the date and the place of its drawing up.
INFORMATION ABOUT SEWERAGE
A Law of 3rd January 1992 enacts that the cities must create technical control services for the non collective sewer system before the 31st December 2005. According to the Board of Works, it’s in the interest of the vendor to provide the reports delivered by the technical control services for non collective sewer system (“Services Publics d’Assainissement Non Collectif”).
The vendor has no obligation to inform the purchaser, but if he does, the non warranty clause will be effective.
For the collective sewer systems, no obligation forces the vendor to inform the purchaser. However, the non warranty clause has
been turned down without information about the connecting to the sanitary sewer or about the drinking water system.
In other respects, the vendor is under a general obligation to inform the purchaser if the latter can’t get information by his own.
Finally, it’s in the interest of the vendor of a building located in a city which created a technical control service for the non collective sewer system, to inform the purchaser of the possibly failure of his connecting pipe to the sanitary sewer if the city informed him of the existence of such a problem.
EXPENSES OF CONDOMINIUM (OR CO-OWNERSHIP): “CHARGES DE COPROPRIÉTÉ”
Since 1st January 2002, the “charges de copropriété” are based on the obligatory distinction between the current expenses and the expenses for works done.
Article 14-1 of Law of 10 July 1965 defines the current expenses: they are expenses “of maintenance, operation and administration of the common parts and of the common equipment of the building.”
These expenses are the occasion to establish a provisional budget submitted annually to the vote of the co-owners which the general meeting must take place six months after the last day of the previous accounting period. According to the new article 14-2 of Law of 10 July 1965, work expenses are not included in the provisional budget.” These expenses must be examined on an ad hoc basis. For each expense the general meeting will define and fix the execution and financing methods.

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EMBARK ON A FRENCH ADVENTURE AT VIVE LA FRANCE
The Annual French Property Trade Show
London, England
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.

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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

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TODAY’S CURRENCY UPDATE

Live mid-market rates as of 2005.01.13 13:57:38 GMT.

1 U.S. Dollar equals 0.756056 Euros (0.759168 Euros last week)
1 Euros equals 1.32265 Dollars (1.31723 U.S. Dollars last week)
1 U.K. Pound equals 1.42305 Euros (1.42399 Euros last week)
1 Euro equals 0.702718U.K. Pounds (0.702251 Pounds last week)

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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
THE FOLLOWING PROPERTIES ARE AVAILABLE AND ARE OFFERED BY READERS OF FRENCH PROPERTY INSIDER:
*** Heart of Paris, 1st Arrondissement
Tall ceilings and French doors lend particular elegance to this spacious 70 square-meter two-bedroom apartment, which is located on the second floor of a modern building that features an elevator and security system
Located in a lively tourist area, on the border of the Marais district and Les Halles, the heart of old Paris. The shops of the Rue de Rivoli are half a block away, and the Centre Pompidou Musée d’Art Moderne is a five minute walk away. It is 50 yards to the Métro, a few more to the Seine and easy walking distance to Notre Dame, Ile-St-Louis, the Left Bank, and the Louvre. Since much of the neighborhood consists of pedestrian-only streets, here the best of old and new Paris will literally be at your feet.
Asking Price 500,000 Euros + 2% Finder’s Fee
For more information, contact Yolanda Robins at [email protected]

*** Loft/Atelier Near Place de la République/Oberkampf
 
Large rectangular space perfect for artist, photographer in 96m2, on the 4th Floor with Industrial Lift, American kitchen, one bedroom, bath, very, very sunny from east and west exposure. Mixte Bail-Commerciale/Habitation.
Contract 68,000 Euros + 4000 Euros Finder’s Fee
For more information, contact Yolanda Robins at [email protected]
*** 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 Metro.
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
Asking Price 295,000 Euros + 2% Finder’s Fee
For more information, contact Yolanda Robins at [email protected]
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LEASEBACK NEWS
https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/sales/leasebacks/lb_list.php
*** Paris Properties
CLASSIC PARISIAN ARCHITECTURE
France – Paris / Ile de France – 18th District
Euros 146,000 to Euros 462,000
Studio to One Bedroom Luxury Renovation in the True Paris
Situated on a quiet cobblestone side street just steps away from the excitement of the heart of Paris, you will find the extraordinary real estate investment of The Cube. This massive reconstruction…
IDEAL INVESTMENT OPPORTUNITY
France – Paris / Ile de France – Torcy
Euros 52,000 to Euros 116,000
Studio to One Bedroom Just 20 Minutes from Paris Center
The charming community of Torcy, in an area of 613 hectares, is situated to the northwest of the Seine-et-Marls. Torcy is bordered in the north by the Marls, to the east by Croissy Beaubourg and Logne…
BREATHTAKING VIEWS OF PARIS LIGHTS
France – Paris / Ile de France – 15th District
Euros 180,000 to Euros 875,000
Studio to Two Bedrooms The Most Beautiful City in the World
Picture Yourself Here: Paris at your doorstep, the Seine flowing in front of you, the Eiffel Tower and the Trocadero on your right. Own a true piece of Paris and feel at home even far from home. WEL…
ON THE FAMOUS CANAL L’OURCQ
France – Paris / Ile de France – Pantin
Euros 103,000 to Euros 138,000
Studio to One Bedroom Walk to Parc de la Villette
Situated in the suburbs of Paris, this modern and stylish new development offers easy commuting to the center of the City of Lights. Positioned within 5 minutes walking distance of…
WALK TO TROCADERO, EIFFEL TOWER, AND THE CHAMPS ELYSEES
France – Paris / Ile de France – 16th District
Euros 190,000 to Euros 372,000
Studio to Two Bedrooms Enviable Location in Prestigious District
Situated between Passy, gardens of Trocadero, and the Palace Chaillot, the Residence Benjamin Franklin is enviously situated in one of the most beautiful and desirable neighborhoods in all of Paris. F…
GORGEOUS 17TH CENTURY ARCHITECTURE
France – Paris / Ile de France – Saint-Germain des Prés
Euros 590,000 to Euros 590,000
One Bedroom The Most Enviable Location in Paris
This trendy district is known as the most intellectual and artistic quarter in Paris. Between La Brasserie Lipp, Le Cafe de Flore, Les Deux Magots, and La Rhumerie, it is here you can meet modern day …
IDEAL EIFFEL TOWER VIEW
France – Paris / Ile de France – Paris
Euros 324,000 to Euros 324,000
Studio In the Trendy Saint Germain des Prés
This perfect-condition top floor flat offers a stunning panoramic view of the Eiffel Tower and other Parisian monuments. Ideal for a pied-à-terre or rental income, this envious apartment is com…
A THING OF ENVY
France – Paris / Ile de France – 16eme Arrondissement
Euros 302,000 to Euros 1,100,000
Studio to Three Bedrooms Perfect Location, Perfect Luxury
In the heart of the exclusive Passy village, the residence Passy Plaza is the most luxurious and beautiful building on this famous rue of the same name. A perfect location in a high-class residence…
A CAPITAL INVESTMENT
France – Paris / Ile de France – 8eme Arrondissement
Euros 292,000 to Euros 474,000
Studio to One Bedroom Luxury Apartments in an Exceptional Location
In the heart of one of the most beautiful and elegant districts in Paris near the Champs Élysées, Monceau Park and the Saint-Lazare train station. Built in 1993, the Paris Haussmann is a p…
SERENE GARDEN VIEWS
France – Paris / Ile de France – 8eme Arrondissement
Euros 390,000 to Euros 390,000
Two Bedrooms A Refined Address in the 8eme District
A gorgeous 19th century mansion surrounded by gardens, the Residence Paris Europe is conveniently located at the bottom of Place Clichy and the Saint Lazare train station. Situated in the business …
WALK TO RUE MOUFFETARD
France – Paris / Ile de France – 5eme Arrondissement
Euros 375,000 to Euros 375,000
One Bedroom Situated in the Lively Latin Quarter
The ideal location in a very sought-after area, close to the well known rue Mouffetard, the Residence Lacepede offers a bright and airy floor plan in perfect condition on the 3rd floor with class…
GOLDEN OPPORTUNITY
France – Paris / Ile de France – 7eme Arrondissement
Euros 470,000 to Euros 470,000
One Bedroom Fantastic Opportunity in the Exclusive 7eme
Enviously situated in the wealthy 7eme arrondissement just a short walk from the Eiffel Tower, you will find the Residence Duquesne situated on a wide avenue. A golden opportunity in this much sought …

*** A TRADITIONAL ALSACE VILLAGE
DOMAINE DU PRIEURE
France, North / North East, Munster
One Bedroom 48m to 49m Euros135,000 to Euros148,000
LEASEBACK PROPERTY
GUARANTEED RENTAL INCOME OF UP TO: 4.00%
The outer valley of Munster gently links the plains of Alsace with the Vosges mountains. Here, the majesty of the vineyards rubs shoulders with authentic villages. 30km long, the Vallée de Munster, situated at the heart of the Parc Naturel Regional des Ballons des Vosges, displays a varied landscape. Steep escarpments, glacier lakes, rounded peaks and high pastures, so much natural wealth along the many marked traits which alternate through forests and meadows. At a distance of 19 km from Colmar on the D 417, 18 kilometers by the Schlucht Pass, Munster is the ideal starting point to reacquaint yourself with the essential benefits of nature and discover the department of the Haut Rhin and province of Alsace.
It is here in this mountainous paradise that you find the Domaine du Prieure, a charming residence situated in the very heart of the village, directly between the ancient Benedictine Abbey and Protestant church. In traditional style with every modern convenience , blending seamlessly into the village: an extraordinary quality at an affordable price. Fully furnished and equipped, the Domaine du Prieure is constructed to add harmony to the surrounding village: brightly painted facades with traditional wood framework and charming terraces or balconies with magnificent views of the breathtaking surroundings and quaint village. Composed of 3 new construction buildings with 45 flats, resident parking, and storage units.
Founded in the 7th century, the town of Munster grew up round a Benedictine abbey. An imperial town in the Alsatian Decapole, it became a flagship of the textile industry in the 18th century. The town then chose to promote its many cultural, sporting and tourist assets, leading to its well-deserved titles of Holiday town and Green holiday Resort.
Woods and forests, flowers and wild berries, birds and game, walking tours and skiing resorts allow the visitors to refresh both their physical an intellectual drive. Cinema, concerts, exhibitions, folklore meetings, museums, mountain-farms, and traditional villages open the doors of a picturesque and romantic region. Munster benefits from a privileged location: nestled in the very heart of the Parc Naturel Regional des Ballons des Vosges, covering approximately 3000 square kilometers, just south of the Vosges mountains. The “ballons” (rounded peaks) surround the park on the north and south sides. The summer months are the ideal time to utilize the many walking trails available; the winter offers skiing.
THE HAUT RHIN
Benefiting from an exceptional position in the very heart of Europe, the department of the Haut Rhin was wise to ally economical development and yet maintain its traditions, resulting in a high quality of life and happiness of its population. With 708 000 inhabitants, 377 communes, and 31 districts, the Haute Rhine still figures among the smallest French departments (3 525 km2), but is also one of the most populated with a density of 200 hab/km2, experiencing a population increase of 5,5% between 1990 and 1999. Outside the three main cities of the region (Mulhouse: 110 359 inhabitants, Colmar: 65 136 hab, Saint Louis: 19 961 hab, a network of towns and villages animate the territory. Rural or urban, agricultural or industrial, the 31 districts of th
e High Rhine express the a wide ranging variety.
Employment by activity sector:
Industry: 31,6% (Alsace 28,1%, France 20,7%)
Construction: 5,5% (Alsace 5,7%, France 5,7%)
Service industry: 61,9% (Alsace 65,4%, France 72,2%)
Agricultural: 1% (Alsace 0,8%, France 1,4%)
Activity rates: 58% (Alsace 58%, France 54,7%)
Unemployment rate (07/2001): 4,7% (Alsace 5,2%, France 8,8%)
Border towards Germany: 5 111 persons
Border towards Switzerland: 30 149 persons
Since 1990, the communities of the valley of Munster have invested more than 16 000 000 ? in purification networks. Since 1993, the Department constructed seven high schools – an eighth construction is currently in realization for Fessenheim.
Mountainous by nature, warm-hearted by tradition
With a reputation for modesty, local residents nevertheless agree: the Vallee de Munster is one of the most beautiful in the Vosges. Its natural setting is as rich as it is enchanting. Scattered along the Petit and the Grande Fecht, its sixteen villages radiate harmony and tradition. A dream-like image in today’s busy world: the Alpine pastures are filled with farmers sons and daughters every spring. Aware of the special way of life they lead, the natives of Munster are great merry-makers! Folk festivals, country dances, jazz and classical music festivals, Christmas markets … a multitude of events succeed each other in the valley the whole year round. Proud of their gastronomy, what natives enjoy above all is to share their delicious dishes: sauerkraut and haeckeoffe in town, meat pie and roigebrageldi in the mountains, and of course, the regionally crowned specialty – Munster cheese!
During your walks, do not be surprised to cross storks, deer, foxes and ecureuils: situated in a protected and maintained natural park, their environment is preserved intact. Neighboring Colmar, the valley opens first on rounded hills of vines spreading into the horizon. The autumn spectacle of the vineyards is a delight for the eyes, and the wines a pleasure for the palace! Within the village of Munster itself, you will find charming small streets with brightly facades, home of numerous craftsmen, mouth-watering smells drifting from the local restaurants, small steeples, a former abbey and two churches.
Mountaineering enthusiasts don’t visit Munster and its surroundings by chance! Indeed, the valley is dominated by a range which equals the best Alpine peaks: the Hohneck. While climbers tackle the granite wall of the Martinswand, hikers opt for the impressive Rock trail (sentier des Roches). As for mountain bike enthusiasts, they have a huge choice of trails reserved especially for them. Horse riding, tennis, fishing … there’s something for everyone! Those who enjoy strong emotions can survey the region from a paraglider, unless they would prefer an unforgettable flight in a balloon. One thing’s for sure – they won’t miss the wonderful regional meal waiting for them in the nearest farm-inn!
The fun of skiing and winter wonderland!
Everyone ski! In winter, the Vallee de Munster unrolls its snowy carpet for the benefit of ski enthusiasts, no matter what their preference: downhill skiing, cross-country, surfing, sledding… With its ski centers, everything is there to delight you all, young and old, skiers or not!When it’s time for apres ski, friendship is on the menu in Munster, famous for the wealth of entertainment.
Green, blue, red, and black ski pistes
Ski tows and lifts
120 km cross-country ski trails
Nocturnal skiing and snow shoeing
Christmas markets in December
2 Nordic Domains to Discover:
Trois Fours
Close to the Col de la Schlucht and the Routre des Cretes (Ridge Road), the Trois Fours site is a much admired Nordic landscape perched between 1150 and 1250m and appears as a natural balcony overlooking the great sweep of the Munster Valley, the Black Forest and the Alps. The rolling, regularly snow-covered slopes allow you to gain confidence on your skis across a pristine landscape of meadowland and pine groves.
Schnepfenried
The slopes of Schnepfenried are situated between 1070 and 1250m and cater both to sports lovers and family vacationers. The downhill skiing offers interesting runs for different levels.
2 Alpine Skiing Domains:
The Gaschney
The site of Gaschney ranges between 990 and 1280m close to the Massif of Hohneck; the resort owns some beautiful downhill runs, one of which has a chair lift that is operational in the summer as well as in winter.
The Tanet
The site of Tanet, between 1000 and 1280m high, is set in an exceptional landscape of glacial bowls forming the Lac Vert (Green Lake) and the Lac des Truites (Trout Lake). Downhill skiing is on offer with slopes of varying levels of difficulty.

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PARLER PARIS APRES MIDI
NEXT MEETING: Tuesday, February 8th, 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:
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apresmidi.html
LOCATION:
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

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INSIDER PARIS GUIDES DISCOUNT FOR FPI SUBSCRIBERS

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 n
ew 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
username/password
Order more than one guide at a time and you will receive an additional
discount!
Username: propertyinsider
Password: liveinfrance

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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

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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/

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