Riding The Rails On The Edge Of The City

Tomorrow morning we open the Working and Living in France Conference with a special private tour of the Htel de Ville — what is considered Paris’ most beautiful building. This is the Paris City Hall, where progressive Mayor Bertrand Delano performs his civil duties and all city-wide planning takes place. The tour is sure to be a special treat for all involved.

Each arrondissement, however, is run as if it were it’s own unique city. Each has its own city hall and a mayor. The Mairie of the 13th arrondissement is the official host to the new tramway now under construction. It’s going to change the city…that’s what the Mairie is touting. Work is progressing for service to be in effect by 2006 between the Pont du Garigliano and Porte d’Ivry, crossing 7.9 kilometers through the 13th, 14th and 15th arrondissements. It replaces the PC1 bus portion “Porte dIvry – Pont du Garigliano.” Parisians anxiously await this new method of transportation along the “boulevards des Marchaux” — the boulevards that run just inside the Priphrique designating the borders of Paris.
Ecologically sound, stable and silent, the tramway is a solution to the needs of the urban environment — rapid, comfortable and capable of transporting large numbers of people. The project is an initiative of the state, the region, the STIF (Syndicat des Transports dIle-de-France), the city of Paris and the RATP. The project is designed to encourage use of public transportation, space for pedestrians and cyclists and reduce the use of cars, thereby helping to reduce pollution.
To learn more about the new tramway, visit the exposition entitled “Un Tramway pour tous” from June 22nd to July 9th at the Mairie of the 13th, 1, place d’Italie, 75013 Paris, Tl: 01 44 08 13 13, open 8:30 a.m. to 5 p.m. Monday through Friday, Thursdays until 7:30 p.m. and 9 a.m. to 12:30 p.m. Saturdays.
We take this opportunity to bring you a glimpse of properties located in these arrondissements and near the new tramway line. As an owner there, you could be one of the first to take advantage of Paris’ newest and hottest mode of transportation.
French Property Insider also brings you lots of important information on the serious topic of taxation by our legal experts Jean Taquet and Sam Okoshken. We address a few investment issues by taking a look at property pricing as seen by the statistical analysts who wrote the program we depend on to know the true market trends.
Take your time…these are important and complicated topics and worth a close inspection.

A bientt,

 
Adrian Leeds
Editor, French Property Insider
Email: [email protected]
P.S. Next week we’ll be reporting on the outcome of the conference and we’ll  have more information about the upcoming conferences in Washington, DC and Provence/Languedoc as the details unfold. For more information, visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/index.html or email Schuyler Hoffman at [email protected]/parlerparis

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Volume II, Issue 25, June 17, 2004
In this issue:
* Discover Reporting of  Property Transactions
* Taquet Tackles Taxes
* Recent Tax Law Changes Could Affect You
* How You Can Live in France
* Currency Exchange Update
* Hot Property: Stellar Property for Discriminating Taste
* Property For Sale: Around the New Tramway Route
* Classified Advertising: Vacation Spots
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Special note: We have discovered the French Property Insider is often a bit longer than our broadcast system allows. From time to time you may have received incomplete emailed issues with the last part cut off. To avoid this problem, each week you will receive a shortened version of the issue by email. The full issue of each newsletter will be posted on the website at https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/currentissue.html. We hope this will be an improvement of service. We look forward to your comments regarding this change in format. (To access password protected pages, the username is: fpiuser and the password is: paris1802.)
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REPORTING AND STATISTICS ON PROPERTY PRICES IN FRANCE

By Adrian Leeds
 
Property prices for all of France are reported quarterly…”a unique collaboration between the notaries (“notaires”), who collect the data and do the computation, and INSEE, the French statistical agency that provides the methodology an guarantees its proper use.” (Text in quotes taken from Anne Laferrre’s September 2003 article, “Hedonic Housing Price Indices: the French Experience”, found in a pdf document at http://www.crest.fr/pageperso/dr/laferrere/FrenchIndexIMF1.pdf)
All real estate transactions in France must be registered by a notary. There are 4,600 notaries in France. Their role is to verify and certify the sales contracts and deeds, send the records to the Conservation des Hypothques (Mortgage Register) and collect the stamp duty (tax) for the government. A notary is also an “officier ministriel,” a public official and a private entrepreneur.
“The “Notaires-INSEE” index was created in 1983 for second-hand apartments in Paris. In 1997, the Coseil Suprieur du Notariat (CSN) wanted to create a price index for dwellings outside the Paris region, in the Province. The separation of the Paris region and the Province, each with its own database, is a complication that is due to a history of high centralization in France with the Paris region concentrating a large part of the wealth.”
The rate of coverage of the notary data compared to the total housing transactions is not perfectly known because there are no official statistics on housing transactions. However test estimates of this coverage have shown it to be around 80-90% for Paris… Actually a 100% coverage rate is not necessary to compute an index, if the sales are a randomly selected and large enough sample.”
The notaries collect the data at their own cost and the statistics are made available to the public free of charge. For Paris property prices, the official statistics are published at http://www.paris.notaires.fr/fr/index.html, then click on “Le march immobilier Paris Ile-de-France,” then click on “6 avril 2004” for the latest statistics. The official statistics for property prices outside of Ile de France are published at http://www.immoprix.com.
When reading the data, keep in mind that the average prices per square meter will result in 30% to 50% lower than the current market prices. If you take the reported statistics as conclusive, you’ll be shocked when the apartments you visit are almost double the per meter price that is reported! The reasons for this are:
1. Lag time. Statistics for 2003 were recently reported, now six months earlier than today’s market. The signing of the final Acte de Vente traditionally takes tow to three months to complete, therefore add another delay, meaning that the properties were purchased nine months earlier than today’s market.
2. Asking price is normally 5 to 15% higher than selling price.
3. Reported selling prices often do not include cash transactions between the buyer and seller, although illegal, done (reduces the notaire fees).
4. Reported selling prices often do not include the value of unattached furnishings such as kitchen cabinets and appliances, built in closets, etc. (reduces the notaire fees).
5. Reported selling prices often do not include agency commissions, when paid in cash (reduces the notaire fees).
6. Properties in poor condition bring the averages down, and may be unlikely candidates in your search for the perfect pied–terre.
Most importantly, use these statistics to gauge the trends of property values. In the last five years, prices in Paris have increased 69%, 39% in the last ten years, 68% in the last fifteen years and in the last twenty years, 244%. Even with some highs and lows in the market, the steady increase in value continues to prove Paris is a strong market for real estate investment.
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TAX QUESTION FOR FRENCH EXPATS

By Jean Taquet

QUESTION

We have a question about French expatriates and their tax treatment. Whilst offshore we understand them to have no tax liability other than income, etc. earned in France, there appears to be a new tax allowable plan for returning French Expatriates. Any light you can shed on these areas would be much appreciated. Also any light you can shed on French and British citizens living in Europe. Are there different tax rules in different member states.

ANSWER
Your question is excellent but allow me to answer it from a different angle in order for me address what seems to me the most important issue raised here.
France, except for extremely rare situations, basically deals only with the residency issue. One situation that could happen to a French national claiming Cayman physical and fiscal residency, where there is no treaty between the two countries and therefore considers that this French person is doing tax evasion, therefore unless this person has a residency in a true country which has a tax treaty with France, then this person is considered to be resident of France and taxed likewise.
FRENCH TAXABLE INCOME
1- worldwide income for French resident
2- pure French income for non resident
If it is India or another country that has a tax treaty with France then the income earned by this French citizen is not taxable in France. If this country does not have a tax treaty with France or if you, as a couple, chooses no country for fiscal residence then citizenship becomes the only “known residency” at that time since there is no other identifiable location.
This is the answer on the residency side. All the EU member countries have a tax treaty with each other therefore there is no risk of double taxation. This said, each member country has its own fiscal regulation and it could be beneficial to claim residency in one country versus another provided that this choice corresponds to the reality of the individual establishing some sort of permanent residency there.
About off-shores investments, let’s first look at a simple case — a French national-French resident paying all the French taxes owed invests money in off-shore accounts and declares dutifully all the unearned income coming from these investments. This person is fully complying with French law. Holding foreign liquid investments as a French tax payer and therefore paying the tax related to this unearned income produced by these investments is perfectly legal.
Now the reality is that one most often chooses to invest in an exotic off-shore account because wants to hide either or both the existence of this money and the income coming the investment. In this case and without going any further there are already two violations of French law. Keep in mind that France has a wealth tax that starts pretty low — net assets of more than 720,000 euros in net value bear this wealth tax.
Now from a practical point of view, there is a very strict surveillance of the money coming in France. There is a regulation called “tracfin” which deals with money laundering. What happens is that should an individual be found guilty of that, t
he bank is also guilty as an accomplice and the manager of the branch can be sued in criminal court. The simple fact that this is possible makes the French bankers extremely nervous when the incoming wire is questionable, either because of its large amount or because of its exotic origin. In other words, expect every time you wire your money to your French bank account from an Isle of Man account, the banker will declare this transaction to the Banque de France (Federal Reserve) and the tax office unless you can prove to the banker that this money is 100% legitimate.
Therefore, I can only advise anyone who has an off-shore account and is a French fiscal resident not to bring this money into France — ever. BTW, the current government has expressed an interest in finding a way to limit the risk of tax audit for French fiscal residents bringing “unclean” money back into France. First issue, I will believe that this is true when the law is passed — politicians often promise, rarely deliver. Second issue, even if the law is passed and grants solid rights of protection, I would still be careful — tax inspectors hate when the law does this to them. This would be like waiving a red flag, bringing “unclean” money into France and they will find other grounds to get you.
I have no expertise in fiscal matters; I simply spend a fair amount of time in the tax inspectors’ offices here in Paris. Indeed, their job definition includes being a tax advisor to the public so I take often advantage of this program and have had more personal discussions with some of them.
Editor’s Notes: Jean Taquet is a French jurist and associate member of the Delaware Bar Association, specializes in civil, criminal and commercial law. He frequently gives courses about the legal system in France and regularly speaks at the Working and Living in France Conferences in Paris. He is also well known for his informative Q and A columns in past Paris Voice magazines, which can now be purchased in one document as “The Insider Guide to Practical Answers for Living in France” (http://www.insiderparisguides.com/answers/index.html)
To subscribe to his monthly newsletter, email Jean Taquet at [email protected]
To make an appointment with Jean Taquet for his consultation services:
Phone: Cell: 06.16.81.48.07 or email [email protected]

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RECENT TAX LAW CHANGE AFFECTS INHERITANCE TAX

By Sam Okoshken

To readers of Property Insider: Here in a nutshell are the issues my clients, whom I refer to here as Tom and Nancy, addressed to me as part of their international estate planning. I am working with their U.S.-based planner in this project. Tom and Nancy are in their early 60s, are U.S. citizens and non-residents of France. They own a Paris apartment, valued at one million Euros. As part of their estate planning, they wish to make a lifetime or testamentary gift of the apartment to their two adult children, Peter and Paul. They made it clear that all options were open, but they were primarily interested in tax-saving as well as retaining the possibility of their own personal use of the apartment during their lifetime. The following is my advice to them and perhaps this will help you in your estate planning as well:

Dear Tom and Nancy,
You wish to make a lifetime or testamentary gift of your French real estate to your sons and want to consider the various options of doing so, with emphasis on minimizing tax cost and retaining some personal access to the apartment during your lifetimes.
First and foremost, you should be aware that a recent French tax law change opened an 18-month window to encourage lifetime giving. Normally, the gift and inheritance tax rates are identical. The temporary change reduces the gift tax rates by 50% until June 30, 2005.
As you have made no prior gifts of French property, both of you can take advantage of a per-recipient tax exemption of 46,000 Euros. If you gift the full property to your children, each child receives 250,000 Euros from both of you, making the net gift (after the 46,000 Euro exemption) to each child 408,000 Euros (204,000 x 2). If the transfer were made at death, the inheritance tax for each child would be 79,900 Euros. Total tax on the apartment would thus be 79,900 x 2 = 159,800 Euros (approximately 16% of the value). To this would be added various notarial fees and costs. However, if you made a current gift of the full value of the apartment, the tax would be cut by half, for a total of 79,900 Euros (approximately 8% of the value). Any gift tax paid in France is an offset against possible U.S. estate or gift tax on the transfer.
There is also the possibility of first transferring the property to a special French holding company, known as a Socit Civile d’Immobilire (“SCI”). By doing that, you could retain some shares in the property, and can parcel them out over the years (or dispose of them in your will). There may be some tax-saving or other attractive features in taking that route. The transfer to an SCI will trigger a French capital gains tax, unless you owned the property for 15 years or more. Any capital gain would be taxed at a flat 33.3% — the non-resident rate (the rate for residents is 26%). As you know, the U.S. capital gain tax rate is 15%, but the gain would probably be higher or lower than the French gain after taking into account exchange rate fluctuations between the date of purchase and the date of transfer to the SCI. Any capital gains tax paid in France would be a credit against U.S. tax on the same gain. Aside from a potential capital gain on the transfer to the SCI, an additional transfer cost (plus fees) of about 1% of the value of the property would apply.
In order to reduce the value of the gift, you and your wife could retain a formal life use of the property (“usufruit”). The value of your life interest would depend on your age at the time of the gift. As you are both in your 60s, your life interest is considered to be worth 40% of the property value. The gift (of the remainder interest) to the children would therefore be 600,000 Euros. After deducting the exemptions, the taxable gift to each child would be 208,000 Euros, and the gift tax for each child would be 19,950 Euros, for a total of 39,900 Euros, a saving of 40,000 Euros compared to a gift of the full interest in the apartment (see above). By retaining a “usufruit” interest, you and your wife would be assured of full use of the apartment during your lives, including the right to rent it out. The only thing you could not do without the consent of both sons, is to sell the apartment. At your deaths, your life interests would be extinguished and there would b
e no further tax. Note, that by making a present gift, another possible economic benefit is the absence of an inheritance tax on any further appreciation in the apartment’s value (as the children already own the title as from the date of the gift). For example, if the value of the apartment at your death is 1,500,000 Euros, the children pay no tax on the 500,000 Euro increase in value.
A word on property value for purposes of the gift or inheritance tax: The value of the property is established by an appraisal. You can obtain two or three appraisals and take an average of the three, or else opt for the lowest of the three. As the gift or inheritance tax is based on value, opting for the lowest reasonable amount will result in a lower tax. Care should be taken to ascertain whether your sons will sell the property within a year or so after the gift, as the tax department is likely to compare the value declared for gift or inheritance tax purposes with the declared sale value. If the differential unreasonable, an additional gift or inheritance tax may be assessed. In addition to the gift or inheritance tax, you or your estate will incur notarial fees, which are also based on the value of the property.
So, to summarize: Under the French law, gifts made before June 30, 2005 are taxed at one-half the normal rate, so a “donation-partage” to your sons does seem like a good idea from that point of view. However, knowing your global economic situation, it seems to me that this is not the opportune time to make a total gift. I suggest that you gift the “pleine-proprit” (i.e., a remainder interest in the property) to your sons, retaining a “usufruit” (life interest) for yourselves. In that way you get to use the apartment for the rest of your lives and at your death(s), there would be no further tax. (You could of course allow your sons to use the property anyway during your lifetimes.) As I said, the only downside in such a scenario is that you lose the freedom to sell the property without the consent of both sons. A footnote here is that the retention of a formal life estate would trigger U.S. estate tax on the full value of the apartment at your deaths. The U.S. estate tax law (with certain exceptions not relevant here) considers a “retained life interest” in property to be tantamount to 100% ownership at death. This may not be an important consideration, given the upward moving U.S. estate and gift tax credit, but it is something you should raise with your estate planner.
Editor’s Note: Sam Okoshken is a U.S. lawyer practicing international estate planning in Paris. He frequently speaks at the Working and Living in France Conferences in Paris.

For more information see http://www.okoshken.com, phone +33 (0) 1.42.56.54.20 or email [email protected]

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UPCOMING INTERNATIONAL LIVING PARIS OFFICE CONFERENCES

Mark your calendar for the upcoming exciting conferences sponsored by the International Living Paris Office! 

Living and Investing in France
September 10 – 12, 2004
Washington, DC
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_DC/LIF_DC_home.html
Plus…
Dinner and Virtual Tour of Paris with Thirza
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_DC/LIF_DC_dinner_tour.html
Plus…
Walking Tour of French-Speaking DC
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_DC/LIF_DC_walking_tour.html
Plus…
Single in the City of Light
(And Loving It!) with Adrian Leeds
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/LIF_DC/LIF_DC_single.html
Reservations and information: If you’d like to know more about this conference or reserve your place, email Schuyler Hoffman [email protected]/parlerparis


Working and Living in France
November 2004
Languedoc-Rousssillon, France
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/index.html
** Read what our past participants have to say about our Paris Office
Conferences and Tours…
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/conference_comments.html
Reservations and information:

If you’d like to join us at any of these, drop us an email at [email protected]/parlerparis and we’ll be sure to email you as soon as we have more information. Visit https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/liveinfrance/index.html

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TODAY’S CURRENCY UPDATE
A service of http://www.xe.com/
Subscribe for free at: http://www.xe.com/cus/
Rates as of   2004.06.17 09:08:32 GMT.
1 U.S. Dollar equals 0.831833 Euros (0.826014 Euros last week)
1 Euros equals 1.20216 U.S. Dollars (1.21063 Dollars last week)
1 U.K. Pound equals 1.52300 Euros (1.49893 Euros last week)
1 Euro equals 0.656597 U.K. Pounds (0.667142 Pounds last week)
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SEEKING A MORTGAGE IN FRANCE?
The International Living Paris Office can 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 or contact us
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FOR SALE: FPI HOT PROPERTY OF THE WEEK
We are constantly looking at properties for sale to offer to our
subscribers only. Each week we will be bringing you one or two
properties we believe are especially worth your consideration. As a
subscriber, you will have an exclusive first look at these.
Properties sell very quickly in Paris. The best way to find the
apartment or home of your dreams is to allow us to do a preliminary
search before your arrival so that you visit only the best of the
properties and can make a decision quickly.
To learn more about our property search services, visit: https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/propertyconsultation.htm
*** SIX ROOM PENTHOUSE DUPLEX WITH PANORAMIC VIEW OF PARIS

Superb duplex of 179.59m2 situated on the last floor of a building of 1970 construction of good standing. Profit from a panoramic view of Paris from Montparnasse to Montmartre. On the first level is reception, two bedrooms and an office on the upper level. Two baths, one toilet. Elevator. Comes with two covered parking spaces and cellar.
Asking price: 808,000 Euros + 2% Finder’s Fee

** FPI PROPERTY LISTINGS – FOR SALE
* THREE ROOMS NEAR PARC MONTSOURIS

53m2 one bedroom apartment on the 3rd floor of a beautiful pierre de taille building with double exposure and close to transportation and commerce. Elevator, balcony.
Asking price: 253,000 Euros + 2% Finder’s Fee
 
* TWO ROOMS IN PIERRE DE TAILLE BUILDING

At the border of the 14th arrondissement, 58.52m2 with two bedrooms in a beautiful 1930 stone and brick building, charming with parquet flooring, molding and fireplaces. A must see.
Asking price: 283,000 Euros + 2% Finder’s Fee
* THREE ROOMS IN CONTEMPORARY BUILDING NEAR PORTE DE VERSAILLES

61.83m2 three room apartment near Mtro Porte de Versailles in a beautiful contemporary building, in good condition on a garden. Living room opens to large balcony, unobstructed view, quiet, sunny. Cellar and parking in the basement. Elevator, guardian, digicode.
Asking price: 378,745 Euros + 2% Finder’s Fee
The best way to find the home or apartment in France of your dreams is to designate a time to be here to do a proper search. For more information about our property search services visit https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/propertyconsultation.html and for serious inquiries regarding these properties click here to email Jocelyn Carnegie, French Property Consultant: [email protected]
*** PARIS NOTAIRES’ AUCTIONS
http://www.encheres-paris.com
Next session July 6, 2004, 10 a.m.
Notaires de Paris
Place du Chtelet
12 avenue Victoria
75001
Additional information on Les ventes aux Enchres des Notaires can be found on the website at
http://www.encheres-paris.com/ (in French, though the site has a button for an English
version, it doesn’t work reliably well).
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/articles/auctions1.html
Available:

Hotel particulier 895 m utiles pondrs (environ 1098 m de plancher) 4 rue Cimarosa 75016 PARIS 16th Starting bid: 1 829 388,20 Euros Deposit: 365,880 Euros3 rooms 68,45 m + parking 40-42 quai de la Loire 75019 PARIS 19th Starting bid: 210,000 Euros Deposit: 42,000 Euros 2 rooms 28 m 71 rue Truffaut 75017 PARIS 17th Starting bid: 70,000 Euros Deposit: 14,000 Euros Studio 19,9 m 17 rue Saint Bernard 75011 PARIS 11th Starting bid: 33,000 Euros Deposit: 6,600 Euros

2 rooms 34,79 m lou 101 rue Duhesme 75018 PARIS 18th Starting bid: 52,000 Euros Deposit: 10,400 Euros2 rooms 21,74 m lou 7 rue Dautancourt 75017 PARIS 17th Starting bid: 42,000 Euros 2 rooms 26 m 41/43 boulevard Arago 8/10 rue Julienne 75013 PARIS 13th Starting bid: 62,400 Euros Deposit: 12 480,00 Euros

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PARLER PARIS APRES MIDI

EVERY SECOND TUESDAY OF THE MONTH, 3 p.m. to 5 p.m.                                    NEXT MEETING: July 13th, 2004 ( NO MEETING DURING AUGUST)

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.
LOCATION:
Upstairs at La Pierre du Marais
96, rue des Archives at the corner of rue de Bretagne, 75003 Paris
Mtro Lines 9, 3 et 11, stations Temple, Rpublique or Arts et Mtiers
For a detail description of the past meeting and for more information
about Parler Paris Aprs Midi, visit:
https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apresmidi.html

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INSIDER PARIS GUIDES DISCOUNT FOR FPI SUBSCRIBERS
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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RENTING AN APARTMENT IN PARIS OR HAVE AN APARTMENT TO RENT?
If you are seeking to rent a furnished apartment for a week, a month or a year or you have an apartment you wish to rent, contact Adrian Leeds
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FPI CONFERENCE CALLS 

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As an FPI subscriber, we offer you special access to our time and knowledge with our own quarterly conference calls. The next scheduled conference call is Sunday, July 11th at 8 p.m. Paris time, 2 p.m. Eastern time. Mark your calendars now, but don’t worry, we’ll give you plenty of advance notice.
Discussion Topic: INVESTING IN THE FRENCH LEASEBACK “SCHEME”
Conference Date: Sunday, July 11th, 2004
Conference Time: 2pm EST, 8 p.m. Paris time
*** To listen to the last conference call of April 18th, click here: https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/184.mp3

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THINGS YOU NEED TO KNOW
– FPI Website: To access any password protected pages, the username is: fpiuser and the password is: paris1802. 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/archives.cfm
– To receive your free French Leaseback Report or the Paris Property Report, click on https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/subscribersonly/reports2003.cfm and download the pdf versions.
– Instructions for upcoming conference calls are on the FPI website. You’ll find the link under the “Subscribers Only” section on the left of any page.
– Get In On The Discussion: Care to weigh-in on current HOT topics of discussion on France? Get in on or start your own thread on our bulletin board at http://www.agora-inc.com/forums/index.cfm?cfapp=15
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CLASSIFIED ADVERTISING
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Complete information and photos at http://www.youlloveparis.com
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Last Minute Bargain Price: 150 Euros a night.
AVAILABLE JULY 25TH UNTIL AUGUST 4TH, AUGUST 10TH UTNIL SEPTEMBER 1ST
* 23, rue Mazarine in the 6th arrondissement. Mtro: Odeon
45 square meters: bedroom, bath with tub/shower, kitchen & dining area, living room with bedcouch. Sleeps 4. Fully furnished. Cable TV. Beautiful
restored stone wall, beams, charm of 17th century building. 3 flights up, no elevator.
Last Minute Bargain Price: 150 Euros per night.
AVAILABLE JULY 20TH UNTIL SEPTEMBER 1ST
* 41, rue Mazarine in the 6th arrondissement. Mtro Odeon
40 square meters: bedroom, bathroom with shower. Kitchen. Dining/Living room with sleeper sofa. Sleeps 4. Fully furnished. Cable TV. Restored interior brick wall. 2 flights up with elevator.
Last Minute Bargain Price: 155 Euros per night.
AVAILABLE JUNE 28TH UNTIL JULY 3RD
AVAILABLE AUGUST 18TH UNTIL SEPTEMBER 1ST
To book any of these apartments, contact Porter Scott at [email protected]
==APARTMENT RENTAL==
Guest Room or Two-Bedroom Apartment Located in a 17th century Le Marais Hotel Particulier, this 70 square meter apartment two-bedroom apartment with lots of light is nicely furnished and is perfect for a single woman in the freshly renovated guest room when owner Adrian Leeds is in or for up to 4 people when she’s traveling.
The Guest Room is offered at 525 Euros per week (75 Euros per day, 200 Euros deposit deposit required). The Entire Apartment when available is offered at 875 Euros per week (125 Euros per day, 350 Euros deposit required). References are required.
Pictures and more details available at https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apartments/rentals/leeds.html
For information and reservations email: ABL_Apartment
==SEASIDE VACATION APARTMENT RENTAL==

Monte Carlo Seaside: a dream flat with a dream view on Monaco and the sea!
Located at the french border of the principality of Monaco in Roquebrune Cap Martin — this big one bedroom flat of 600 square-feet with a terrace can easily accommodate one couple + one extra adult on a convertible sofa. Fully equiped kitchen, marble bathroom, private cark park, security doors, pure silence, fresh sea breeze, direct access to the quiet private beach at 200 meters, 5 minutes to Monte Carlo train station or bus stop, easy access from Nice international airport and Monte Carlo train station.
May to June*: 600 euros per week
July to September: 800 euros per week
*Special Weeks in May: Monaco Grand Prix and Cannes Film Festival: 1000 euros per week
Visit https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/rentals/pfmontecarlo.html
or contact FPI_Monte-Carlo and ask for the French Property Insider Special Offer.

==PROVENCE VACATION HOME RENTAL==

Make this exquisite contemporary private residence your home away from home while vacationing in Provence this spring or summer. Paradise for the person who appreciates fine esthetics, this restored farm house dating as far back as 1682 is in the heart of Provence in the green setting of over seven acres of olive and chestnut trees, terraces and gardens with a private pool. “La Vernatelle” is less than 20 minutes from Saint Tropez, but nestled in the forest of La Garde Freinet en Provence. Three bedrooms, four baths, seven terraces, a chimney, a large mezzanine for reading and lounging overlooking the main living area, pool and much, much more! Read more about La Vernatelle… https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/rentals/lavernatelle.html
2,975 Euro per Week
To reserve or for more information, contact: [email protected]
==APARTMENT RENTAL==
Elegant, Tasteful, Calm at Saint-Germain-des-Prs, 6th arrondissement, one bedroom apartment, sleeps 4. Amenities: Fireplace, Phone, Cable TV, Full Kitchen, Microwave, Refrigerator, Cooking Utensils provided, Linens provided, Washer & Dryer, Bathtub with Shower.
For more information, visit:
https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/rentals/scott.html or contact FPI_Cherche_Midi_Rental
==APARTMENT RENTAL==

Stay in your own 17th-century pied–terre in the heart of Saint-Germain-des-Prs, Paris, by the week or month. Sleeps 4. Newly furnished and redecorated. Totally charming. From $150 per night.
Visit https://adrianleeds.com/wp-content/uploads/newsletters/frenchproperty/insider/rentals/mazarine.html
or contact Porter Scott at Mazarine
==APARTMENT RENTALS==
See More Apartment Rentals At: https://adrianleeds.com/wp-content/uploads/newsletters/parlerparis/apartments
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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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