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Written and Edited by Adrian Leeds,
Editor of Parler Paris

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France Takes First Fifth Consecutive Year

The Life of Quality in France
Photo by Adrian Leeds

 

(FOR SUBSCRIBERS ONLY)

French Property Insider

January 7, 2010
Paris, France
http://adrianleeds.com/frenchproperty/insider


Bonjour French Property Insider Subscriber,

Happy New Year 2010! Things are already looking up from 2009, from what we can see on the French property front.

Publisher International Living gave France the #1 thumbs up again for the fifth year in a row in their annual Quality of Life Index. Not bad, huh? They didn't need to do an index...we could have all told them how great life in France is, right!?

Read their full article and don't miss American in Paris Linda Hervieux's personal take on her life in France in today's issue of FPI...

Rent or Buy? That's the question. There are two new rentals and two new fractionals on offer, so have a read and make your plans...to buy or rent, whichever suits you best.

Want to know what it will cost to sell your French property? Today's issue explains the capital gains tax laws and the reality on how it's calculated. All this just means that if you're paying tax, you're profiting, but learn how to profit more and pay less tax.

And for all you new to the French property market, today we're offering a few additional articles that we call "French Property 101" -- the basics...a great way to get the new year off to a good start.

So, sit back and enjoy. Dream about when you're going to make that dream come true to own your own property in France. And make it your resolution to actually do something about it -- this year in 2010.

A bientôt,

Adrian Leeds
Adrian LeedsEditor, French Property Insider
Email: fpi@adrianleeds.com


P.S. Parler Paris Après Midi meets next Tuesday, January 12th from 3 to 5 p.m. at La Pierre du Marais. Don't miss it! Visit http://www.adrianleeds.com/parlerparis/apresmidi.htmlfor more information.


Volume VIII, Issue 1, January 7, 2010

In this issue:

* It Doesn't Get Any Better Than France
* Alfie, We're Not in Brooklyn Anymore
* Should You Rent or Should You Buy?
* The France Show This Weekend!
* Special Property Offering
* Understanding French Capital Gains Taxes
* FAQs on French Taxes
* Some Basics to Buying French Property
* FPI Fractional Property Offerings - Two New Properties!
* Six Insider Tips for Buying Property in France
* New Air Times for House Hunters - Paris
* Moneycorp: Take the Risk Out of Currency Conversion
* How You Can Get a Free Property Consultation
* Parler Paris Apartments: - Two New Apartments!
* Hot Properties: Full Frontal Fractionals
* Notaires' Auction Returns This Month
* How You Can Obtain a Mortgage in France
* Parler Paris Après-Midi: Next Gathering Jan. 12th
* Managing Your FPI Subscription
* Subscribers Receive Discount on Insider Paris Guides


2010 Quality of Life Index: 194 Countries Ranked and Rated to Reveal the Best Places to Live
By the Staff of International Living

Every January, we rank and rate 194 countries to come up with our list of the places that offer you the best quality of life. This isn't about best value, necessarily. It's about the places in the world where the living is, simply put, great.

To produce this annual Index we consider nine categories: Cost of Living, Culture and Leisure, Economy, Environment, Freedom, Health, Infrastructure, Safety and Risk, and Climate. This involves a lot of number crunching from "official" sources, including government websites, the World Health Organization, and The Economist, to name but a few. We also take into account what our editors from all over the world have to say about our findings.

Below are the countries that win our top 10 in this year's Quality of Life Index and the final scores for each country in every category.

1. France

For the fifth year running, France takes first in our annual Quality of Life Index. No surprise. Its tiresome bureaucracy and high taxes are outweighed by an unsurpassable quality of life, including the world's best health care.

France always nets high scores in most categories. But you don't need number-crunchers to tell you its bon vivant lifestyle is special. Step off a plane and you'll experience it first-hand.

I always wish quality of life indicators could measure a country's heart and soul. But it's impossible to enumerate the joy of lingering for hours over dinner and a bottle of red wine in a Parisian brasserie. Or strolling beside the Seine on a spring morning, poking through the book vendors' wares. Or buying buttery croissants in bohemian Montmartre...hearing Notre Dame's bells...walking antique streets paved with poetry.

Romantic Paris offers the best of everything, but services don't fall away in Alsace's wine villages...in wild and lovely Corsica...in lavender-scented Provence. Or in the Languedoc of the troubadors, bathed in Mediterranean sunlight.

Provincial French properties are often keenly priced and lifestyles are less expensive than Paris. The Southwestern Midi-Pyrenees region is a particularly good hunting ground for village homes for less than $100,000—and classic three-course lunches for $14. Houses cascade with wisteria blossom; outdoor markets are everywhere. Foie gras, pink garlic, Armagnac, and crystallized violets aren't gourmet fare for locals. Rather, just another day's shopping.

Read the full report at http://internationalliving.com/Internal-Components/Further-Resources/quality-of-life-2010.


Survey says: France is Best Place in the World to Live for 5th Year in a Row
By Linda Hervieux

http://www.nydailynews.com

PARIS - I knew I wasn't in Brooklyn anymore the day a French neighbor eyed my cuddly 3-month-old puppy and said, "Your dog is getting fat."

Fat? It's only his bushy coat, I protested.

"Mais non. He is fat," Monsieur responded. "He was not fat before."

It is true what they say about the French being thin as baguettes. But dogs?

A new survey by International Living magazine ranks France the best place in the world to live for the fifth straight year. The U.S. ranked a lowly seventh.

Among the reasons the magazine cited for a winning lifestyle in France were health care, safety, leisure and cost of living.

Weight wasn't a factor - though the French are obsessed with it, as well as with creams, potions and pills to keep them that way. French moms battle for balanced school lunch menus with the zeal their U.S. counterparts reserve for soccer games.

Life is cheaper in France than in the U.S., too, despite much higher taxes shelled out for services beyond the excellent medical system, available to everyone. Streets are spotlessly clean - a man dressed in a bright green uniform sweeps the gutters on my street every morning - and retirement benefits are generous.

I moved to Paris in October 2004 when my husband was transferred by his company. I instantly missed the buzz of New York - I always will - but I quickly caved for the French lifestyle.

I was amazed that weekday lunch lingered endlessly in the many jam-packed cafés in my neighborhood. Vacation here is five weeks, at least, and there's no shame in shuttering your business for the entire month of August.

"People don't work as hard. It's a 35-hour workweek," said Steve Lew, 42, a native of Chinatown who moved to Paris seven years ago. "I guess I could work more, but I feel no need to. I make less but I spend less."

Author Marilyn Kaye loves that money and work are never part of the dinner conversation with the scores of French friends she's made since moving to Paris from Park Slope, Brooklyn.

"There are people, French people, I've known here for years, and I have no idea what they do for a living because they don't talk about it," said Kaye, 60, who writes books for teens.

Read the entire article at http://www.nydailynews.com/lifestyle/2010/01/06/.

Photo credit: Linda Hervieux.


Rent or Buy? That is the Question
By Adrian Leeds

Excerpt from the Parler Paris Nouvellettre®
Sunday, January 3, 2010
http://www.adrianleeds.com/parlerparis

We're only days into 2010 and already it's a better year than 2009.

I can tell. Everyone I know is already looking forward to having new and different opportunities. And they are already out there in just three short days.

Here in Paris, "chez nous" alone, we have four new apartments to tell you about. Two are for rent and two are for purchase...or at least a fraction of them are!

So what are you interested in doing? Buy or rent? That is the question.

If you're coming for a few days, a few weeks or a few months, then renting is perhaps what you would want to do, without the investment and responsibility of ownership. But if you want at least four weeks a year in Paris, and you do want an investment that will grow, making your stay here not only 'free' but 'profitable,' then perhaps owning a fraction of an apartment is a much better solution.

So, let's look at what's new in 2010 in Paris apartments for rent or fractional ownership:

FOR RENT

Parler Paris Apartments just added two new apartments to its roster of great short-term rentals!

***Le Bac Marché
Rue du Bac, 7th Arrondissement, Studio Apartment, with Air Conditioning, Sleeps up to 2

The district surrounding Le Bac Marché is the chic of the chic. Situated on the edge of the city's most elegant district, the 7th arrondissement, which boasts of the Eiffel Tower and Les Invalides, it's just minutes from Saint-Germain-des-Prés and all that it has to offer. You will be surrounded by the city's best shopping including the Left Bank's first and foremost department store, Le Bon Marché and its Grande Epicerie -- a gourmet's idea of heaven. A few minutes walk takes you to the famous three cafés: Brasserie Lipp, Café de Flore and Les Deux Magots, where the likes of Jean-Paul Sartre and Simone de Beauvoir wrote for hours on end and hobnobbed with other literary giants.

Important museums are at every turn. Just a few steps away is the Musée Maillol. Walk northward to the Musée d'Orsay and further on across the River Seine to the Musée du Louvre. Head westbound to the National Assembly and many governments' embassies, plus the Musée Rodin, Les Invalides and the Champ de Mars.

The district is teeming with the highest quality antique and art dealers, designer boutiques and some of the city's finest restaurants. You will want for nothing, with transportation just outside the door to take you anywhere, or just walk as you're steps away from the best Paris has to offer.

Le Bac Marché is equipped with a Murphy bed which descends from its hiding spot at night to provide a comfortable sleeping experience, and then goes neatly back into place to provide plenty of daytime living space. Also in this room is a dining table, a plush sofa with ample pillows and a beautiful, large cabinet with dishes and storage space. There is hanging space along an adjoining wall.

Also provided is a flat screen television, telephone and high-speed Internet, all included in the price of your rental. Calls to over 50 international destinations are free of charge. In the next room is the well equipped kitchen, with a modern two-burner stove, a full sized traditional oven, as well as a microwave and refrigerator. All cookware and utensils are provided should you want to make your own meals. The bathroom comes with a toilet, full sized stand up shower stall and a separate washer and dryer. High quality sheets and towels are provided for your stay.

Le Bac Marché is available NOW for a minimum of three nights and trust me, availability won't last long! To learn more, see photos and reserve your stay go to http://www.adrianleeds.com/parlerparis/apartments/rentals/bac.html.

***Le Beaubourg
Rue Beaubourg, 3rd Arrondissement, Le Marais, Studio Apartment, Sleeps up to 2

Located between three convenient Métro stations in the 3rd arrondissement, but on the edge of the 4th and 2nd districts, you will find this location in Paris ideal. Just steps away is the Centre Georges Pompidou, the Hôtel de Ville, Eglise Sainte-Merri, Les Halles and it's just a 10 minute walk to Notre Dame. Being in the heart of Le Marais, the city's oldest and most historic district, you will have access to most of the city's museums, a multitude of restaurants, boutiques and lots of nightlife including the city's best jazz clubs.

Le Centre Georges Pompidou is the National Center for Art and Culture, well known for its extensive contemporary art collection, a public library, the Atelier Brancusi, gift shop, book store and a trendy restaurant on the top level, "Georges." A controversial structure which has been made architectural renown is a colorful mark on the landscape, and affords some of the finest views from the caterpillar-like exterior escalators.

The Hôtel de Ville is the City Hall and the center of political activity. Just in front on rue de Rivoli is one of the city's most important department stores, the Bazar de l'Hôtel de Ville (BHV), famous for its complete "sous sol" (basement level), heaven for the do-it-yourselfer. L'Eglise Sainte-Merri is a 16th-century gothic church whose tower houses the oldest church bell in Paris, built for the original chapel in 1313. Notre Dame is just a short walk away to the Ile de la Cité and a few steps further puts you on the Left Bank.

Les Halles, once the city's central market, is very nearby to the west with cinemas and lots of shopping. The neighborhood is forever lively and missing nothing for both tourists and residents. To the east is all of Le Marais to discover the centuries-old "hôtels particuliers" (townhouses), museums, chic boutiques, galleries and restaurants.

You will love the central location and animated neighborhood that makes a stay here as convenient to all the city has to offer as one can imagine.

Located in a grand Haussmannian building, Le Beaubourg is a masterpiece of design and function. Warm, elegant shimmery colors mixed with luxurious fabrics, rich upholstery and elegant crystal and glassworks combine to create a space that you won’t want to leave.

Upon entering the apartment, to the left is a gleaming new kitchen which features a stainless steel countertop, oven/microwave combination, refrigerator/freezer, washer/dryer, two-burner stovetop, coffee maker, kettle, toaster and all of the pots, pans, utensils and implements needed to allow you to be self sustaining during your stay.

Self-prepared meals can be enjoyed on the beautiful Art Deco dining table, which comes complete with 4 upholstered chairs and sits under a magnificent crystal chandelier and opposite a fine antique mirror. For more relaxed seating, there are two strategically placed leather armchairs, from which you can contemplate your next foray in the City of Light or watch the Sony flat screen television. With over 100 channels available, as well as a DVD player, your viewing needs are well covered.

The queen-sized bed with padded headboard is made up with fine linens and an abundance of fluffy pillows, and flanked by two Art Deco night tables, each with its own lamp. The mirrored closet provides ample storage and hanging space, which is supplemented by another closet just inside the door of the apartment. Just opposite the bed, is the salle de bain, with exquisite shimmering tiles, standup shower, toilet and sink. Thick, designer towels are provided for your comfort.

The apartment’s two large windows allow lots of light to enter the apartment, but also allow you to exit to the balcony where you can get a closer look at the brilliant view of Paris rooftops. Iron balcony chairs are provided. Included with your stay is free access to the apartment’s WiFi connection as well as use of the telephone, which allows you to call over 90 countries at no cost.

Le Beaubourg is available NOW for a minimum of three nights and the vacant nights will get booked up fast! To learn more, see photos and reserve your stay go to http://www.adrianleeds.com/parlerparis/apartments/rentals/beaubourg.html.

FOR FRACTIONAL PURCHASE

Paris Fractional Ownership has just added two more apartments to its roster of great properties!:

***L'Abbaye Lutece
Rue Chanoinesse, 4th, Next to Notre Dame
Sleeps 6
Based on two sets of two-week shares per owner...

This rare Paris apartment, located next to Notre Dame, on the beautiful historic 'Ile de la Cite' has two bedrooms and two bathrooms, and entirely faces the inner courtyard of a quiet medieval building where Monks once chanted every day. One of the building's walls was once the protecting wall of the city that separated the Island (then called Lutece) from the rest of the world. The building is located one block away from Notre Dame, one block from the Seine River, and you can hear the Chimes in the distance during the day. Simply crossing one of the many bridges on the Ile de la Cite, you will find yourself either in the Marais, on the Ile Saint-Louis, or at Saint-Michel on the left bank. This is the true center of Paris, and you can get everywhere in the city on foot from this location. The building is classed among Paris historical monuments and this Paris apartment has been entirely renovated restoring its original wood floors, oak wood beams, ceiling moldings and stone pillars to their original beauty. The bathrooms are exquisite and the kitchen has everything you’ll need for perfect Paris meals.

This Paris apartment is on the ground floor of a peaceful historical classified building. The entire apartment faces the inner courtyard of this medieval Parisian building and its large windows provide an airy open feeling. The apartment has very high ceilings adding to the spaciousness, and we've restored the original wood beams which traverse the entire apartment. The apartment has been entirely restored to its original beauty with modern comfort (two bathrooms, ample kitchen, high speed Internet, air conditioning, washing machine/dryer, cable TV). The furnishings are elegant and comfortable while enhancing this unique apartment's old world elegance. The master bedroom has a queen size bed and the master bathroom has a full bathtub with built in shower, a separate WC and ample closet space. The second bedroom has twin beds, large built in closets, and a second en suite bathroom which was constructed within the original stone pillars that have supported this building for centuries. This second bathroom has a full ‘rain’ shower, a WC and beautiful fixtures. There is a complete kitchen, cable TV, high speed Internet access (WiFi), telephone service including phone calls to the US, Canada, Australia and most other countries around the world), a washing machine/dryer, a beautiful living room with a top quality sleeper sofa, and air conditioning.

L'Abbaye Lutece is new on the fractional market, but don't expect the shares to be around for long. To learn more, see photos and contact the developer got to
http://www.adrianleeds.com/frenchproperty/fractional/pfo/labbaye_lutece.html.

***Le Royal du Marais
Rue de Birague, 4th, Next to La Place des Vosges
Sleeps 6
Based on two sets of two-week shares per owner...

This beautiful two bedroom, two bathroom Paris fractional ownership property is located in the building that forms one of the corners of the world famous Place des Vosges, in Paris' prestigious Marais district. One of the building's walls is officially part of the Place des Vosges and our apartment partly faces the inner courtyard of this quiet building and partly faces the quiet side street that enters the Place des Vosges, the rue de Birague. Originally known as the Place Royale, the Place des Vosges was built by Henri IV in 1612. Many notable people (including Victor Hugo) have lived on this square. From this very central spot, you can get anywhere in Paris on foot. The Marais district is filled with more restaurants, cafes, nightclubs and museums than any other neighborhood in Paris, so your Paris Pied-à-terre will be ideally located with easy access to everything Paris has to offer. The building is classed among Paris historical monuments and this Paris apartment has been entirely renovated restoring its original wood floors and moldings to their original beauty. The bathrooms and kitchen are the perfect blend of modern comfort and old world charm. This two bedroom, two bathroom Paris apartment is perfect for people looking to own their own Paris residence for sojourns, year after year, without the worries associated with property management throughout the year. Each visit will be care-free and this ideal setting will provide you with the perfect Paris setting.

This Paris fractional ownership property is on the second floor (third floor US) of one of the buildings touching the famous Place des Vosges. This bright sunny Paris apartment has large Parisian windows, original oak wood floors and a number of historic details (moldings on the ceilings, wood beams in the den, original terra cotta stone floors). We have recently renovated the entire apartment and attention was given to every detail. The furnishings are the perfect mixture of elegant and sleek and provide a comfortable environment while maintaining the apartment's style and old world elegance. The master bedroom has a queen size bed and the second bedroom has two twin beds. There is air conditioning as well. The master bathroom is spacious and has a full bathtub with built in shower and separate WC. The second bathroom has a full shower and a second WC. There is a full kitchen (oven, stove top, microwave, large refrigerator, coffee maker, toaster) and a dining room table for four people. The apartment has cable TV with a variety of international stations, high speed Internet access (WiFi) and telephone service including international phone calls to most countries around the globe. There is a washing machine, a clothes dryer, central heating and air conditioning.

Le Royal du Marais is also new on the fractional market, but again, I wouldn't wait to long to learn more. To see photos and contact the developer go to
http://www.adrianleeds.com/frenchproperty/fractional/pfo/royal_marais.html.

And not new to the roster, but 'hot off the press' is this letter I received January 1st from Gail M., who claims to be "thrilled to be an owner of the fractional ownership property, "Le Palace des Vosges!" (http://www.palacedesvosges.com):

I admit it. I’m a Francophile (I love all things French). Since visiting Paris at the impressionable age of 14, my dream has been to somehow connect with the City of Light beyond casual vacations. So, somewhat older than 14, but still impressionable, I became an avid reader of Parler Paris and watched as Le Palace Des Vosges developed. An American company, a full month to live in Paris rotating through all the seasons, enough room for guests and entertaining -- sign me up!

With a deposit in place, we met Adrian for the first time at La Place Des Vosges. The square was built by Henri IV about 1605. Jousting tournaments were held here and royalty lived in splendor. Walking through the large green door at #9 into a quiet courtyard with roses, cobblestones and statues and up to the familiar floor-to-ceiling windows of Le Palace, I entered and knew immediately that this was it! The elegance of Marie Antoinette’s Paris grounded by the huge rustic 400 year-old beams spoke to me. The view from every room of the Hôtel de Sully, built in 1624, was “la piece de resistance."

My husband and I just spent two incredible weeks during the holidays, enjoying every modern convenience in a peaceful country-like setting amidst the bustling Marais. Adrian and Martine’s attention to detail is evident in every choice of fabric, furniture and decor. Next trip, I’m packing my Julia’s French cookbook to take full advantage of the gourmet kitchen.

The owners are becoming friends -- leaving wine, books, DVD’s, recipes and spice blends for each other’s use. I’m looking forward to meeting everyone. However, all owners found the same problem with Le Palace – LEAVING! But hey, we’ll always have Paris.

Her letter speaks volumes!...not just for Le Palace des Vosges, but for the advantages of fractional ownership for all those who want to have a 'piece of Paris' they can call their own without the full responsibility of ownership. For more information about Le Palace des Vosges, go to http://www.palacedesvosges.com/.

So, do you rent or buy? Have you answered that question for yourself now?

Don't forget to consider that you can also purchase a property in Paris (or other parts of France, for that matter) that you can use part of the year and rent when you're not using it...just like the owners of Le Bac Marché and Le Beaubourg...and all the other properties offered at Parler Paris Apartments.

If that's the answer to the question FOR YOU, or maybe you're unsure, but would like to explore the possibilities, then contact us. We will be very happy to speak with you directly about your own personal answer to that question.

For more information, see our Web sites at http://www.adrianleeds.com/parlerparis/apartments/ and
http://www.adrianleeds.com/frenchproperty/fractional.


The France Show 2010
Compiled by Schuyler Hoffman

Three days of indulgence in French cuisine, art, culture and property at London's Earls Court, January 8th-10th, 2010...

Discover the magic of France by immersing yourself in the colors, the culture and the party atmosphere that is the France Show 2010 -- the UK's largest celebration of all that makes France such a special place.

The French Property Exhibition brings together estate agents, developers, solicitors, banks and other professionals covering just about every aspect of buying your property in France. Whichever location has taken your fancy -- and suits your budget -- you're sure to find a suitable property.

Always a hive of activity, the French property section offers everything from expert financial advice to innovative energy solutions to picture perfect barn conversions and great investment opportunities. With hundreds of different exhibitors ready to talk to you, this is simply the biggest and best French property exhibition available in the UK.

More information is available at http://www.thefranceshow.com/default.aspx. Free tickets are available online at http://www.thefranceshow.com/pre-register.aspx.


HOT PROPERTY! Proven Rental Studio on rue de Picardie €237,500

This 25m² (270 sq. ft.) studio pied-à-terre in the heart of the Haut Marais just off rue de Bretagne is on the first floor (European -- one short flight of stairs) on a quiet street, rue de Picardie, near the Mairie of the 3rd district and the Square du Temple. This historically designated apartment has all new furnishings and a brand new well-equipped kitchen. The three large windows can be opened for ventilation with little street noise. The exposed oak beamed ceiling adds charm and character and is testament to the 1700s construction. The apartment accommodates four on a double bed and a double futon. A drop-leaf table allows up to six to dine. For guests' clothing there is a large armoire. The bathroom is large enough for a bathtub with a shower. This apartment is a proven short-term vacation apartment and comes furnished and ready to go! Nothing to do but 'sign on the dotted line.'

Asking Price €237,500. For more photos, visit http://www.vacationinparis.com/apts/sub/49_photos.htm, and for more information contact j_buzek@hotmail.com.


Before You Sell, Understand the Reality of Capital Gains Tax Responsibilities
By Adrian Leeds

You're thinking of selling a property in France? Before you do, understand what it's going to cost in capital gains taxes, but keep in mind that if you're paying tax, then you made a profit!

First, the law:

The applicable tax rate for gains on real estate depends upon your country of residence. In all cases the tax is applied at the time of the sale in the offices of the Notaire, and will be deducted from the sale proceeds before the check is handed over.

If you are a resident of France then the applicable tax rate is 28.1%. This sum comprises capital gain tax at the rate of 16%, plus 12.1% social charges.

If you are not resident in France, but you are resident in the EU, then the applicable tax rate is 16%, as no social welfare levy is payable. After the 5th year of ownership, the rate is reduced by 10% so that at the end of 15 years, no capital gains tax is due.

Those who are neither resident in France nor the EU pay capital gains tax at the rate of 33.3%. After the 5th year of ownership, the rate is reduced by 10% so that at the end of 15 years, no capital gains tax is due.

Second, how it's applied:

If the seller resides outside of France, then a special agent legally must be appointed as a fiscal representative of the administration to calculate the tax. This is a guarantee that should an error be made, the agent will pay the difference to the administration. The fee to hire the agent and any mortgage calculation costs are deductible from the selling price to reduce the capital gain.

The calculation is done according to the sale price of the property, less the cost of any itemized furnishings, less the cost of the tax calculation agent and less the cost of the diagnostic surveys. The seller must provide a statement of the valuation of furnishings (invoices and proofs of delivery, etc.), and if possible, be done by a "commissaire-priseur" (official appraiser).

Third, what lessons can we learn from this?

1. Hold on to the property as long as you can to organically reduce your tax obligation.

2. Keep all your receipts! Any purchases made in cash, without having paid TVA and with no proof of purchase, will not be deductible.

3. While residing in France, work to become either a French or EU citizen!


Property Owners FAQs about Taxes in France
By Jeff Steiner

http://www.americansinfrance.net

As a non-resident in France do I need to file a French tax return?

Yes, where income is received in French you must submit a French tax return before the French tax authorities. The type of French tax return will depend on the type of property you own.

I have a French leaseback property, what are my French tax obligations?

As a non-resident French leaseback property owner you are obliged to file a French income tax return. Under the French leaseback scheme rental income incurs French VAT at a rate of 5.5% which leads to a French business tax also having to be filed as VAT is charged on rents received.

I have a French furnished property, what are my French tax obligations?

As a non resident French furnished property owner you are obliged to file a French income tax return. Income from French furnished property is treated as commercial income. Non-resident French furnished property owners with French Income can benefit from a simplified scheme of French tax return called Micro-BIC or alternatively they can opt out of this regime and filing their French income tax on an actual receipts/costs basis.

I received rents from my French unfurnished property. What are my French Tax obligations?

As an owner of a French unfurnished property, non resident in France are obliged to file a real property French tax return. Income from land or unfurnished buildings is taxed on income received less allowable expenses. Non-resident French unfurnished property owners can benefit from a simplified scheme called Micro-Fonciers; this method of taxation allows for a deduction of 30% for related costs when arriving at your French taxable income.

I have supplementary sources of income in France outside my French property income. Do I need to file a French tax return?

Other income in France e.g. French deposit interest or income from Life assurance policies is either taxed at source or exempt – please contact Property Tax International for further details.

What French taxes, in addition to the French income tax, I am liable to as French property owner?

Non-resident French property owners are liable to French wealth tax on gross asset values in excess of €790,000 for 2009 (€770,000 from 2008). French wealth tax is a direct tax levied on your net assets (car, property, bank accounts etc) located in France as at 1 January each year.


What You Should Know About Buying Real Estate In France

http://www.nuwireinvestor.com/

The French property system for international buyers is well-established and relatively straightforward, bolstered by a strong national organization of property agents, the Fédération Nationale de l'Immobilier (FNAIM). There are few surprises--foreigners have been buying property in France for centuries; the industry is accustomed to the quirks of international transactions.

The key to the process is the mandatory presence of a notary for all official business. No contracts should be signed or money exchanged without the notary present, providing a level of organization and oversight to any deal. In addition, buyers and sellers often hire their own notaries to represent their interests and help streamline the paperwork.

The cost of the notary is part of a group of fees and taxes that can add anywhere from 3.5 to 10 percent to the purchase price. France has a reputation as a tax-heavy market, which is only partially deserved. Capital gains tax, in particular, can be a landmine for non-European Union citizens--typically 33.3 percent. Non-EU investors often opt to buy through an EU entity, although that raises a different set of tax implications.

Price negotiations are another potential danger zone. If a seller agrees to a deal—even verbally--it can be construed as a contract to purchase. The law provides for a seven-day cooling off period, but it’s best to tread carefully before talking price. A formal written offer, known as an offre d’achat, is a popular method to avoid any misunderstanding.

A deposit—usually 10 percent or less of the purchase price—isn’t due until a purchase agreement is signed, usually a document known as a compromis de vente. The sale is completed in front of the notary, who is required to read the final deed aloud, the acte de vente. Only then is the balance paid, deed signed and the keys turned over to the buyer...

Read the full article at http://www.nuwireinvestor.com/articles/what-you-should-know-about-buying-real-estate-in-france-54312.aspx.


Fractional Property Offerings from French Property Fractional

www.adrianleeds.com/frenchproperty/fractional

If you are interested in traditional fractional ownership properties currently offered by ourFractional Ownership partners, see below:

Place des Vosges 
Paris:
LE PALACE DES VOSGES


LE NOTRE DAME
Paris:
LE NOTRE DAME

Le Royal du Marais
Paris:
LE ROYAL du MARAIS


Paris:
L'ABBAYE LUTÈCE
Chez la Tour
Paris:
CHEZ LA TOUR



Paris:
La Résidence Luxembourg

Le Petit Tresor
Paris:
LE PETIT TRESOR
 Maison Bleue
Languedoc-Roussillon:
MAISON BLEUE

Paris Residence Club
Paris:
PARIS RESIDENCE CLUB

Notre Maison dan Toulouges
Languedoc-Roussillon:
NOTRE MAISON DANS TOULOUGES

To see our latest Fractional offerings go to http://adrianleeds.com/frenchproperty/fractional/fractional_offerings.html


Six Hot Tips for Buying Property in France

http://www.builders-in-devon.co.uk

Buying property in France can be a daunting prospect for some as the process is so different from other countries. To help you we have compiled six top tips to help you, from your property search right through to viewings and the final sale. These tips should help you not only be more efficient and the experience more enjoyable, but also give you an understanding of what your property purchase in France entails.

1) Spend a few days- its worth it!

If you are serious about your purchase in France then you have to spend at least a few days if not a week or more in the area in order to get a really good feel for your surroundings, but also to see enough property in order to make the trip worthwhile. A longer trip will also stop you from making rash decisions about a property purchase simply because you are short on time and desperate to get your foothold in France. Viewing trips over a long weekend are often not enough and add to that that agencies are shut on Sundays are also often on Mondays and it can mean that you really won’t see enough options to be able to make a sensible decision. The best advice is to spend a good week to ten days in your chosen location with five or six days put aside for viewings and a further few days to do your own research if you find something suitable. These extra days will allow you to send in a local builder to check the structure of the property and to give you quotes on any work that is required. It will also give you the chance to pop into the local mayor’s office where you gather information such as any planning permission granted in the area so you can see how it might affect your property, if at all. This is especially important if you plan on asking for an extension to your property as you will need to get to know the local authorities quite well and keep them on your side. If renovating or building new these extra days can also wisely be spent with a local architect so that he can give you advice on what can and cannot be done and possible costs. All these checks are well worth doing before you return home and ideally before you make an offer on the property as it will give you a much clearer idea of what you can do with the property and its value to you.

2) don't be afraid to negotiate

Most people are unsure whether they can negotiate in France and if so how much. The short answer to this is YES and you can normally negotiate between 5 to 10% off the price depending on the state of the market. At this writing we are seeing offers of up to 10% off being accepted by the vendor because the market in France is currently a bit slow in certain areas. So, now is in fact a great time to go property hunting with great deals to be had.

3) Get a survey/structural appraisal

The process of sending in a surveyor to check the structure of the property and to give you a report as you would expect in other countries is extremely uncommon in France. There are a few French surveyors but most are based in Paris and focus purely on commercial property. You are therefore left with three choices: do nothing, pick an English surveyor who has moved to France or do what the French do themselves which is ask for an appraisal of the property by a local builder or architect. The last option is most recommended as it is prudent to get a professional’s opinion before you make an offer while the time it takes to get one of the handful of British surveyors to see your property it could have already been sold. However, if it is more a question of peace of mind as supposed to bargaining power then you can sign an initial sales contract subject to a survey being done by the surveyor of your choice. If the survey comes back reporting defects to the extent that you do not wish to go ahead with the purchase then you can withdraw with no penalty...

Read the entire article at http://www.builders-in-devon.co.uk/?p=1474.


Watch Adrian Leeds and French Property Consultation on
House Hunters International - NEW DATES for 2001!

***"Vacation Home in Paris" - Episode HHINT-1A05***

AIR TIME:
January 15, 2010 7:00 PM ET/PT

http://www.hgtv.com/house-hunters-international/vacation-home-in-paris/index.html

 

***"Settling Down in Paris" - Episode HHINT- 402

AIR TIME:
February 18, 2010 12:00 PM ET/PT

http://www.hgtv.com/house-hunters-international/settling-down-in-paris/index.html

 

To learn more, visit http://www.AdrianLeeds.com or email Adrian Leeds, at adrian@adrianleeds.com.


 

 

Take the Risk Out of Currency Conversion

If you’re buying a holiday home or investment property overseas, when you trade your currency is crucial. The euro exchange rate is constantly fluctuating, so trading at the right time will mean your money goes a lot further. Adrian Leeds Group LLC and Moneycorp are working together to ensure you make the most of your Dollar or Sterling when buying a property in France.

For the latest exchange rate use our currency converter at http://www.adrianleeds.com/frenchproperty/loan/moneycorpconvertor and learn more about moneycorp here:
http://www.moneycorp.com/affiliates/microsite/index.cfm?agentid=10168408.


One-Hour Consultation with Adrian Leeds Free!If you are a guest staying in any one of our luxurious Parler Paris Apartments, and would like to consider having your own "pied-à-terre" for your pleasure and profit, contact Adrian Leeds for a FREE one-hour consultation while you're enjoying the apartment in the City of Light. Visit http://www.adrianleeds.com/parlerparis/apartments for more information or email me at adrian@adrianleeds.com.


Parler Paris Apartments

http://www.adrianleeds.com/parlerparis/apartments

Welcome to your home in Paris. Home is how you will feel in a private apartment in Paris that has the "seal of approval" from Parler Paris Apartments andme, Adrian Leeds. Parler Paris Apartments offers high quality accommodations to make your stay in the City of Light as enjoyable and memorable as possible.We at Parler Paris know each and every apartment owner or manager personally, and stand behind thequality of those we represent. We understand your needs and desires, all the small details that make a rental apartment a warm and welcoming home ­ and a much better alternative to an impersonal hotel!Parler Paris Apartments is administered and serviced by the same greatteam as Parler Paris, French Property Insider and French Property Consultation. You can trust that Parler Paris Apartments and all those with whom it is associated will do heir best for your 100% guaranteed satisfaction.

SPOTLIGHT APARTMENT(S): Two New Apartments!

***Le Bac Marché
Rue du Bac, 7th Arrondissement
Studio Apartment, with Air Conditioning
Sleeps up to 2

Le Bac Marché is equipped with a Murphy bed which descends from its hiding spot at night to provide a comfortable sleeping experience, and then goes neatly back into place to provide plenty of daytime living space. Also in this room is a dining table, a plush sofa with ample pillows and a beautiful, large cabinet with dishes and storage space. There is hanging space along an adjoining wall. Also provided is a flat screen television, telephone and high-speed Internet, all included in the price of your rental. Calls to over 50 international destinations are free of charge. In the next room is the well equipped kitchen, with a modern two-burner stove, a full sized traditional oven, as well as a microwave and refrigerator. All cookware and utensils are provided should you want to make your own meals. The bathroom comes with a toilet, full sized stand up shower stall and a separate washer and dryer. High quality sheets and towels are provided for your stay.

http://www.adrianleeds.com/parlerparis/apartments/rentals/bac.html.

***Le Beaubourg
Rue Beaubourg, 3rd Arrondissement, Le Marais
Studio Apartment
Sleeps up to 2

Located in a grand Haussmannian building, Le Beaubourg is a masterpiece of design and function. Warm, elegant shimmery colors mixed with luxurious fabrics, rich upholstery and elegant crystal and glassworks combine to create a space that you won't want to leave. Upon entering the apartment, to the left is a gleaming new kitchen which features a stainless steel countertop, oven/microwave combination, refrigerator/freezer, washer/dryer, two-burner stovetop, coffee maker, kettle, toaster and all of the pots, pans, utensils and implements needed to allow you to be self sustaining during your stay. Self-prepared meals can be enjoyed on the beautiful Art Deco dining table, which comes complete with 4 upholstered chairs and sits under a magnificent crystal chandelier and opposite a fine antique mirror. For more relaxed seating, there are two strategically placed leather armchairs, from which you can contemplate your next foray in the City of Light or watch the Sony flat screen television. With over 100 channels available, as well as a DVD player, your viewing needs are well covered.

http://www.adrianleeds.com/parlerparis/apartments/rentals/beaubourg.html.

For more information go to www.adrianleeds.com/parlerparis/apartments or mail:apartments@adrianleeds.com.


HOT PROPERTY PICKS: Full Frontal Fractionals

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.

This week we focus on upscale, fractional apartments for sale in Paris.

*** Paris,Le Palace des Vosges: Two-bedroom, approx. 81m²

Le Palace des Vosges is located on the second courtyard adjacent to the Michelin-rated three-star restaurant, L'Ambroisie, at number 9, just one door down from the entrance to the gardens of the Hôtel de Sully. The entry is one of those grand arched doors. Two Bedroom, Two Bath + Powder Room. With Usage of Two Parking Garages (1 = Personal Storage Lockers, 1 = Parking).

Details:http://www.palacedesvosges.com/

 

   

*** Paris, La Résidence Luxembourg: One-bedroom, approx. 58m²

A spacious one-dedroom on the Left Bank near La Sorbonne! On the fourth floor of a venerable 19th-century stone building on a corner of the rue Cujas, this apartment will be all that a part-time resident of Paris could need or want, including a modern elevator and newly redecorated common areas, climate control, state-of-the-art communications, and electronic building security system with intercoms.

Details: http://adrianleeds.com/frenchproperty/fractional/residence_luxembourg.html

 

   

*** Paris, Chez La Tour: Two-bedroom, approx. 88m²

Located in the heart of the chic 7th arrondissement, one block from the Esplanade des Invalides and a few minutes by foot from the famous rue Cler and the Eiffel Tower, this spacious apartment will redefine the word luxurious in Paris. Chez La Tour features original "pont d'hongrie" chevron oak flooring throughout, exquisite "cornice" and ceiling moldings in every room (including the bathroom!), marble fireplace mantels in the living room, dining room, and Master bedroom, and gorgeous crystal chandeliers, all evoking the classic period of French architecture.

Details: http://www.adrianleeds.com/frenchproperty/fractional/chezlatour.html

 

   

*** Paris, Paris Residence Club: Three luxury Properties in Central Paris

Located in the best neighborhoods of the 6th and 7th arrondissements, Paris Residence Club commands prestigious and convenient locations for business and pleasure. One to three bedroom apartments, luxuriously furnished and appointed. Near the Eiffel Tower, in the Latin Quarter, and the rue Cler market.

Details: http://adrianleeds.com/frenchproperty/fractional/prc/index.html

   
       

Notaires' Property Auction January 19,2010

Notaires de Paris
Place du Châtelet
12 avenue Victoria
Paris 1st

 

Additional information on Les Ventes aux Enchères des Notaires can be found on the Web site at www.encheres-Paris.com.

To read Schuyler Hoffman's article about the property auctions in Paris, click on: www.adrianleeds.com/frenchproperty/insider/members/content/articles/auctions1.html.

>
  The following properties will be auctioned off January 19,2010:    

 

2010-01-02
2 Rooms 59m² plus garage
78 rue de la Tour Maubourg
75007 - PARIS 7eme
Starting Bid: 946 000,00 €
Deposit: 189 200,00 €

 

   
 

 

2010-01-05
2 Rooms 35m²
188 bis rue de Crimée
75019 - PARIS 19eme
Starting Bid: 89 600,00 €
Deposit: 17 920,00 €

 

   

 

2010-01-06
2 Rooms 38m²
20 Cour des Petites Ecuries
75010 - PARIS 10eme
Starting Bid: 120 000,00 €
Deposit: 24 000,00 €

 

   

 

2010-01-07
2 Rooms 40m²
7 rue de la Durance
75012 - PARIS 12eme
Starting Bid: 160 000,00 €
Deposit: 32 000,00 €

 

 
   
Editor's Note: If you look at the properties on the Notaire's site (www.encheres-paris.com), when you click on the information for a particular property there is also a link to Google Maps to show you exactly where the property is located.

SEEKING A MORTGAGE IN FRANCE?

French Propety LoanWhen you make a purchase as important as a piece of real estate in a foreign country, you ant to know that you can trust the people you are dealing with. Adrian Leeds has developed a network of professionals that meet only the highest of standards. With the expertise and experience of Adrian and her team, you can depend on getting the best advice and support to feel completely confident that you are making an informed investment decision.

Let us help you secure a mortgage in France at a competitive interest rate. Visit www.adrianleeds.com/frenchproperty/loan for more information or contact Loan@AdrianLeeds.com


HELPFUL CONVERSIONS FOR REAL ESTATE

1 square meter = 10.7639104 square feet

1 hectare = 2.4710538 acres

For more conversions, refer to: www.onlineconversion.com/


Parler Paris Après Midi: Next Meeting

Parler Paris Apres Midi

 

www.adrianleeds.com/parlerparis/apresmidi.html

The second Tuesday of every month, Parler Paris and French Property Insider readers gather at La Pierre du Marais for a drink and a "schmooze" --It's an opportunity to meet and chat with other like-minded people and a great way to make friends! Costs nothing except your drinks. Don't miss the next gathering Tuesday, January 12th, 2010 from 3 to 5 p.m. and every second Tuesday of the month (except August).

 

 


Managing Your French Property Insider Subscription is Easy!

French Property InsiderWe receive many emails from French Property Insider Subscribers who want to change their email address, or update personal information. But did you know that you can make these changes yourself?

It's easy...

1. Go to adrianleeds.com/frenchproperty/insider

2. Click on "Manage Subscription." You'll find it under the "Subscribers Only" section in the sidebar.

3. Enter your username and password.

4. On the Welcome Page, go to "Manage Your Account" and click on "Change Password/Edit Profile"

5. Once you've made the changes, scroll down to the bottom of the page and click on "Save Profile."

Simple!

Of course, we're always happy to help, so if you do need assistance, send an email to fpi@adrianleeds.com.


THINGS YOU NEED TO KNOW

To access password protected pages: click on any of the links on the left panel of the home page of FrenchPropertyInsider.com under "Subscriber's Only," then type in your personal username and password.

Past issues of FPI are available on the Web site. You will find the
"Past Issues" link on the left under "Subscribers Only" or by going to
www.adrianleeds.com/frenchproperty/insider/members
To receive your free French Leaseback Report or the Paris Property
Report, click on
www.adrianleeds.com/frenchproperty/insider/members


We wanted better guides, So we wrote them!

insider paris guidesInsider Paris Guides are written for people who love the City of Light. You'll get a Paris insider perspective on Restaurants... Making a Life... Black Culture... Expat Writers...and the newest guide, Practical Paris!

French Property Insider subscribers receive a discount of 10% off any uide and up to 25% off the entire purchase (if two or more guides are purchased at the same time). Here's how it works:

1. Click on special Web link we give you just for FPI subscribers.

2. Then order one or more guide(s) and use the promotion
code "ED762." This promotion code gives you 10% off your total
order.

3. If you order two or more guides, then an additional 15% will be
taken off automatically. There is no promotion code needed.

Here is the special "coupon" Web link just for you:
www.insiderparisguides.com/offer


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Copyright 2009, Adrian Leeds®
Adrian Leeds Group, LLC, www.adrianleeds.com

 


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