Older, Wiser and More Desirable

Finding really good investment real estate is often not accomplished by perusing the agency windows or Web sites, but is in taking advantage of ‘inside information’ or relationships others might not have. This is the case for us after having developed relationships with some of the best agents in Paris who themselves are privileged with ‘inside information.’

In one such case, there is one agent who pretty much controls one of the city’s most important buildings — one of the three 15th-century buildings in Paris that rival being the oldest. This is the half-timbered house on rue François Miron (numbers 11-13). There is a plaque outside describing the property and hordes of well-informed tourists stop by to see the buildings in awe of their age and beauty.

“The structure is of wood, composed of solid wood beams and pillars that are often carved out of one tree. The walls have afterwards been completed by filling the gaps between the structure with unbaked bricks, plaster or cob. After the 1666 London fire, Louis XIV imposed coating all facades with plaster in order to avoid, or limit the propagation of a potential fire. The wood exteriors had thus been covered for several centuries before uncovering them some time in the 20th-century. These houses have been transformed many times, notably in 1966 by the architect R.Hermann.”

Inside the famous 15th-century half-timbered houses, which were two combined to make one apartment building, the hallways had been modernized and an elevator added. All in all, it’s an amazing building that has seriously stood the test of time.

Thanks to one agent who has lived and owned property in the building, we’ve had the privilege of being the first to know about any property that comes up for sale. As a result, three of our clients have purchased small studio apartments in the building. One of them was featured in a recent House Hunters International prior to it’s total renovation by Martine di Mattéo and the other two are undergoing renovation now, also at Martine’s talented hands. One of those two studios will also be the subject of an upcoming House Hunters International show, scheduled to be filmed in the near future.

Today I am filming with another crew in the very same house. The filming is for a pilot series called “Secret Paris” featuring just such lesser known sides of the city. We’ll be talking about its history and pertinence to the city landscape.

Property like this doesn’t come on the market often. Finding it is even more of a challenge. What makes it so valuable and why is it such a good investment?

1. Location

Well located property, such as this one, next to the City Hall in central Paris, will deliver a greater return with a lot less risk than poorly located properties, even if purchased at a bargain.

2. Intrinsic value

The age of this particular building gives it a special ‘caché.’ Any property that was part of history-making will hold value better than others of lesser importance.

3. Price

Right now, Paris is experiencing a low in the market and bargains can be had, even on properties of such intrinsic value. Lending interest rates are also low, therefore purchasing in today’s market is sure to bring greater returns in the future.

4. Rentability

If properly renovated, decorated and equipped, given the central location and intrinsic value of the property, good rentability is virtually guaranteed.

5. Desirability

Many advisors will tell you NOT to make an emotional purchase if what you want is a good investment. I disagree. As with art, if you LOVE the property, then the likelihood of others loving it too, are greater…and while you own it, you will certainly enjoy it more if you love it. Life is too short to make a property investment purely a financial decision. Don’t you agree?

This, and the so many others in Paris with long lives and many stories to tell are seriously worth loving and owning.

A bientôt ,

 Adrian Leeds

The Adrian Leeds Group

Respond to Adrian: [email protected]

P.S. We are seeking a one bedroom apartment in central Paris of approximately 40 square meters in need of renovation valued at between 400,000 to 450,000 euros in which we can film a House Hunters International next week! Please contact me immediately if you have access or information to such a property! [email protected]

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