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Cely Golf Chateau, leasback property outside Paris

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French Property Insider

March 11, 2010
Paris, France
http://adrianleeds.com/frenchproperty/insider

Bonjour French Property Insider Subscriber,

Last night I suffered through another annual "Assemblée Générale" of my "copropriété" and have lived to tell the tale! Be sure to read all about it and the ongoing saga in Chapter IX of "Viager with a View" in today's issue of French Property Insider!

There's a host of additional news in today's issue...including a good look at upper Normandy as a great place to live and own property... what Leaseback properties have to offer in the way of investment... the hottest concept in boutique hotels right here in Paris... investment opportunities in the student housing market... and how another buyer of the most expensive home in the world just chose to lose 36 million British pounds instead of taking on the burden of the £360 million sprawling Villa Leopolda in Villefranche-sur-Mer.

Hot Properties focuses on Leasebacks...the resort properties that guarantee a minimum return on investment, but carry with them some burdens (not for everyone, but great for some). And there's plenty in store in today's issue of French Property Insider to enlighten you on today's French property market.

A bientôt,

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

P.S. As a special gift to our readers, we're making a very special springtime offering at Parler Paris Apartments. Book now and start your stay in the months of March, April or May and you can count an extra 15% of the price of the rental in your pocket to spend some other way. In other words, we're taking 15% off the price during the most glorious season in Paris when anyone who is anyone wants to be here, just to say thank you for being such loyal followers. To see all our Parler Paris Apartments, visit http://www.adrianleeds.com/parlerparis/apartments/. To reserve these or any of our other well located and luxurious Parler Paris Apartments, go to http://www.adrianleeds.com/parlerparis/apartments/request_form.php or contact apartments@adrianleeds.com.

Volume VIII, Issue 10, March 11, 2010

In this issue:

* A Peek Inside the Syndic
* A Never Ending Story
* French Leasebacks 101
* Find Your Place in the Sun This Month
* Discover an Expanding Property Market
* A Look at a Unique Hotel Property
* Harrogate Property Show Returns
* FPI Fractional Property Offerings - Special Offers!
* Exploring Upper Normandy
* Lifestyle: Millions Lost and Nothing to Show for It
* Moneycorp: Take the Risk Out of Currency Conversion
* Get a Free Property Consultation
* Parler Paris Apartments: Le Bac Marché
* Hot Properties: Long Live Leasbacks
* The Next Notaires' Auction: March 16th
* How You Can Obtain a Mortgage in France
* Parler Paris Après-Midi: Next Gathering April 13th
* Managing Your FPI Subscription
* Subscribers Receive Discount on Insider Paris Guides

Paris Pain and Pleasure
By Adrian Leeds

Excerpt from Parler Paris Nouvellettre®
http://www.parlerparis.com
Wednesday, March 10, 2010

[Wednesday night] [was] my annual "Assemblée Générale" of the "Copropriété" of my building. In other words, it's the annual meeting of the home owners association that manages the property. In 10 years of ownership, only one has been missed. Not a bad record.

The meetings are always a mixture of both pain and pleasure.

It's interesting to get to know your neighbors. Even though you live under the same roof, there's rarely more exchange between you than a simple "Bonjour Madame," "Bonjour Monsieur," until that fateful day once a year when important decisions must be made. The meetings can seem to last forever (many hours) and the owners can often discuss 'around' a topic endlessly coming to no real conclusion or end up in verbal arguments that get shelved until next year.

The structure of the meeting can be quite formal, depending on who's running it. In our case, the "Syndic" (manager) is a volunteer who lives in the building. He's been the manager for many, many years -- a thankless job he's been willing to take on. For this reason, our meetings are generally pretty congenial. Tonight it will take place at the café La Pierre du Marais, upstairs in the same spot where "Parler Paris Après Midi" was held yesterday afternoon. (See the report on the most recent meeting at http://www.adrianleeds.com/parlerparis/apresmidi.html).

Other building owners hire professional agencies costing the owners more in dues, naturally, and the service may not necessarily be better. In fact, there's no real definitive answer to which method results in better management -- it all depends on the individuals responsible for the work, as with anything.

The average cost of management and maintenance in Paris is about 25€ per square meter of your property per year. Yet, in our building, the fees are less -- mine last year were less than 20€ per square meter. The monthly maintenance costs of my daughter's apartment in New York is ten times that (!), although those fees do include the property taxes and mortgage interest, accounting for 69% of the total cost. But then again, property taxes here in Paris are so low, they're hardly worth considering. Last year they amounted to about 15€ per square meter.

[Last night's] meeting [was] particularly important for me as I've requested several items to be addressed and added to the agenda. It was done quite formally, with a registered letter written by my Notaire to the Syndic. It all has to do with the studio apartment with a terrace that is currently under renovation, once having been a "viager." (The story can be read in full at http://www.adrianleeds.com/parlerparis/viager/).

I am asking that the copropriété confirm certain modifications to ownership of various parts of the apartment. First, that the terrace does in fact belong to the apartment and not to the copropriété as it says in my deed, but was voted on years ago. Secondly, that I am able to purchase one small part of the "combles" (attic) in which to install the "ballon de l'eau chaude" (hot water tank) -- over which there is confusion as to who owns what (this in itself is a "grande histoire" [big story]!).

These questions could turn into a big debate, as there is much ado over the various aspects of the 4th and 5th floors of the building ever since the viager many moons ago took it upon himself to acquire the terrace and attic without permission of the copropriété to begin with. I've inherited the problems along with this jewel of an apartment, and am determined to put it all to rest, once and for all...

Editor's Note: See the following article for results of the meeting and an update on Viager with a View.

"Viager with a View" Part IX
By Adrian Leeds

You would think that by now, the "Viager with a View" would have long ago been renovated and rented. Having signed the final documents last July and having started the renovation last August, the plan was for the apartment to be on the rental market by November.

No, that certainly didn't happen, and if you read chapter VIII, you'd have learned that the first contractor went 'belly up' and a new contractor was brought in to complete the work.

If you'd like to read Parts I through VIII to catch you up to speed on the story that has twisted and turned like a tangled ball of yarn, visithttp://www.adrianleeds.com/parlerparis/viager/. For now, these are the latest developments:

As it turned out, the first contractor, one that had worked with us on eleven projects, not only filed for bankruptcy, but left Paris never to be heard of again, leaving many clients in the lurch with little to show for what we had paid. My loss was small, compared to some, but substantial nonetheless -- about 15% of what I anticipate the entire project will cost.

He also left the studio and the studette with a concrete foundation that was so poorly done, we had to destroy it and redo it. There was also the repair to my neighbor's ceiling that is at my expense, now that there is no insurance coverage or recourse from the culpable contractor. Not only was there a financial loss, but a loss of valuable time as well.

The contractors to replace him are workers who he had used on our other projects and whom had also suffered a loss at his hands. They were happy to have the work and we were familiar with their quality and earnestness.

As I write this, the renovation has been underway now since November. What I thought would be two-to-three month project has turned into an eight month project, with the contractors estimating completion at the end of March. One would think that a small space such as this would take much less time, but a combination of massive renovation and complications has delayed the project every step of the way.

Some of the highlights include...a wild goose chase to find the glass block for the bathroom wall only to have to order it and wait weeks for delivery...our carpenter breaking his leg and landing in the hospital...the lighting supplier never returning our calls...and the fabric for the window coverings never arriving. All this is pretty par for the course in any renovation project, and typical of why we usually say "twice the time, twice the money."

All this while, I was preparing for the annual "Assemblée Générale" of the "Copropriété" of my building scheduled for March 11th. In other words, it's the annual meeting of the home owners association that manages the property. In 10 years of ownership, only one has been missed. Not a bad record.

Last night's meeting was particularly important for me as I had requested several items to be addressed and added to the agenda. It was done quite formally, with a registered letter written by my Notaire to the Syndic.

I am asked that the copropriété confirm certain modifications to ownership of various parts of the apartment. First, that the terrace does in fact belong to the apartment and not to the copropriété as it says in my deed, but was voted on years ago. Secondly, that I am able to purchase one small part of the "combles" (attic) in which to install the "ballon de l'eau chaude" (hot water tank) -- over which there is confusion as to who owns what (this in itself has been a "grande histoire" [big story]!).

The meeting lasted more than two hours and I became the center of attention as Monsieur de L., the "Syndic," expressed his anger at the ongoing work, the incessant dust in the stairwell and the problems with which the building has dealt resulting from the renovation work.

I couldn't much blame him, but he chose to make every single thing my fault, regardless of whether it was or not. With a glass of wine and a good attitude, I giggled my way through his insinuations and begged forgiveness and promised it would all be over soon.

The last item on the agenda was the letter he had received from the Notaire, which he read out loud. Part I, to confirm the ownership of the terrace was no problem whatsoever and was quickly confirmed. Part II, the question of the combles was yet another situation entirely and caused quite a ruckus.

Firstly, he proclaimed that the combles were still owned by the copropriété because Monsieur and Madame d'A. (my neighbors from the 1st floor who own the "chambre de bonne" on the 5th floor above mine) had never passed an "Acte de Vente" for having paid 10,000 French francs for the "cagibi" many years earlier. The cagibi is only small part of the combles, accessible from a door on the 5th floor, of which the actual dimensions had never been fully defined. Among ourselves, Monsieur and Madame d'A. and I had agreed that they could take all the combles except for on small part on the shallowest side where the "ballon de l'eau chaude" (hot water tank) for my studio would sit, taking up no valuable space of theirs. In anticipation of this, a wall was constructed to separate the space, now hiding the water tank with access to it from within the apartment.

My offering to purchase this small space was a mere 200€ and when Monsieur read this aloud, the owners became enraged. They were insulted that so little would be offered, claiming that the only right thing would be to pay current market price based on the square meters.

I tried to explain that the height was no more than 60cm at the highest point and that this space is not counted in the "loi Carrez" and therefore has no value at all. They didn't buy it and refused any consideration of it, proclaiming that the issue must be revisited in 2011, once Monsieur and Madame d'A. had gotten their true title to the cagibi.

Nothing I could say would convince them that it made sense to put this to rest once and for all, but then walking home, I realized how it had suited my situation quite well, in reality. The truth is, that the only people with the real problem are Monsieur and Madame d'A. who cannot lay claim to what they paid for until they go through the formal process with a Notaire to acquire an Acte de Vente and that my ballon de l'eau chaude rests happily in its little spot with no one the wiser or caring. Meanwhile, should there be problems with the roof, as long as I don't own it, the copropriété will bear the expense, not me, as it would have if they had accepted the offer.

Ultimately, Monsieur and Madame d'A. will have the combles and they will be quite pleased with what they have and make no issue of my ballon de l'eau chaude. Still, it's amazing how such an insignificant issue can take up so much time and energy!

As I write this, the renovation is in full swing and the contractor is estimating it will be ready by the end of March. The mural artist is waiting for it to warm up before gluing the canvas of the mural of Saint-Tropez to the wall, the "mosaiist" is waiting for the glass block wall to be installed before beginning the tile work in the bathroom and kitchen, the carpenter is installing the new windows and preparing to install the kitchen cabinetry and closet fixture and I'm waiting for all this to happen before ordering the appliances and purchasing the light fixtures. The "ravalement" (resurfacing) of the exterior of the building on the terrace must be done, now that the terrace is free and clear of debris and a wood deck must be laid to protect the surface of the terrace, which is much like a roof.

The next few weeks will be intensely busy attending to all these details and them when it's near to completion, the last item will be a trip to Ikea to purchase all the appointments -- the bed linens, kitchen gadgets, household items, etc. By mid to late April, Le Saint-Tropez and La Brigitte will celebrate their birth and sure to be occupied with their first renters.

Editor's note: To be one of the first to stay in Le Saint-Tropez and La Brigitte, visit http://www.adrianleeds.com/parlerparis/apartments/rentals/saint-tropez.html.

Should you buy a French leaseback home?
By Simon Lambert

http://www.thisismoney.co.uk

The pound has slumped, investing in property is out of fashion and money is tight, so why are investors eyeing up French leaseback holiday homes?

Buying a home abroad is so last decade. The headlong rush into overseas property ownership that saw any destination that combined cheap, vaguely offbeat and within four hours of a budget airline route flung into the pot marked hotspot, is long gone.

Austerity measures have replaced the fad for owning an overseas investment, with the pound slumping against almost every worldwide currency, recession biting and the idea of new build buy-to-let going firmly out of fashion.

So why are some people suggesting now may be a good time to buy French property? The answer is that investors can currently pick up high quality tourist sale-and-leaseback properties, with tax breaks, a guaranteed rental return and 100% mortgages with low rates.

But is buying a French holiday apartment a wise long-term contrarian investment, or a daft move?

What is sale and leaseback?

Sale and leaseback is equivalent to a French state-sponsored buy-to-let scheme. The big difference being that it operates within a set framework and instead of adopting a get rich quick mentality, aims to be a low risk long-term investment.

The sale and leaseback system was set up about 30 years ago by the French Government and aimed to boost the nation's construction industry while increasing the supply of holiday properties, boosting tourism, and, of course this being France, create jobs.

Essentially, the sale and leaseback model, dubbed Residence de Tourisme in France or leaseback for short here, provides developers with funding, investors with a steady income and a VAT tax break of almost 20%, and the tourism industry with a supply of new properties built to set standards.

The commonest form of leaseback for holiday home buyers is to purchase a freehold new-build property off-plan. This is then leased back to the developer, with a rent guarantee for a period of at least nine years and the management company paying all maintenance and management costs.

Owners can choose from a number of occupancy options. A guaranteed rent is paid on the purchase price of the property, with the level dependent on how many weeks the owner opts to use it per year, it rises in time in line with the Index of Construction Cost...

What are the advantages of leaseback?

The big tax break offered by leaseback apartments is the rebate of 19.6% French VAT on a new build property price.

This allows investors to buy property 'below market value' and if they hold onto the property for 20 years they will not have to reimburse any of this VAT. This 'below market value purchase' and the longevity of the leaseback system provides an equity buffer in the property, meaning mortgage lenders are favorably disposed towards properties.

However, investors are not locked into this 20-year period and can sell before then, they will then either owe the French tax authorities a proportionate amount of the VAT...

What are the disadvantages of leaseback?

France did not take the fully-fledged dive into property mania that the UK did and as such managed to retain a more stable property market. However, that is not to say that leaseback has not picked up its fair share of bad publicity along the way.

The biggest risk for investors is that leaseback's chief attraction of a hands-off guaranteed rental return over a long period, is only as strong as the company offering it.

If the company managing a development goes bust, that guaranteed rent disappears and property owners need to find either another management company to take it over and offer a similar pledge, or they are stuck and have to try and rent it out themselves and potentially repay the VAT break...

Read the entire article at http://www.thisismoney.co.uk/mortgages-and-homes/homes-abroad/article.html?in_article_id=500606&in_page_id=505#ixzz0hsw43keh.

A Place in The Sun Property Exhibition

A Place in the Sun Live features thousands of overseas properties for sale, by hundreds of exhibitors from more than 40 countries worldwide. And with homes from less than £20,000 to over £1 million, there really is something to suit almost every taste - and budget.

The next A Place in the Sun Live takes place at Earls Court, London on 26th - 28th March 2010.

With everything you need all under one roof, you'll have a unique opportunity to compare properties and talk to the agents and developers face-to-face, all in one place!

Whether you are in the market for a great investment property, idyllic holiday home, a place to retire to or a permanent residence abroad, A Place in the Sun Live will bring you a step closer to owning your place in the sun. There's everything from new and off-plan apartments and developments, houses, villas and unique character properties.Full details and tickets available at www.aplaceinthesun.com/visitorinfo.

Investing in Property in the Student Market

http://www.hebdenbridgeestateagents.info/

Julien Lu the UK Regional Director of IMOINVEST says, “Investors will benefit from few constraints, plenty of flexibility and considerable advantages. Low cost and easy finance coupled with long term guaranteed rental income make this an outstanding long term investment plan. In effect you are letting demand alone pay your mortgage whilst enjoying capital growth.”

So why is France and in particular Paris benefiting from increased student numbers which offers good long term investments for those looking to step on to the property market?

Julien says, “Students who study abroad come away with a sense of having broadened their horizons, achieved a greater independence, a more open mind and an adaptability that will help them successfully enter the job market. French higher education has a long tradition of openness and accessibility and the education provided here ranks among the best in the world. Today France is the world’s fourth largest economy and second largest exporter of services. At present there are over 190,000 international students who have chosen France for all or part of their higher education. These international students enrich the French system with their culture, experience, energy and accomplishments. This in turn benefits the French property market and subsequently those that invest in it.”

Student accommodation is now becoming more and more attractive to investors as a whole. This again is due to increased student population leading to increased demand for student property and a strong guaranteed rental return. Student population is a stable demand source. There will always be students requiring accommodation and government policies underpin continued student numbers growing. Demand is also less volatile than other property markets, due to the set ‘academic’ year which predetermines exactly when investors will be receiving an income from their investment...

Read the entire article at http://hebdenbridgeestateagents.info/investing-in-property-in-the-student-market.

New Design Hotel to Open in Paris

http://www.easier.com

Hotel Le Seven, Paris, a unique property with 7 suites designed by 7 designers each with individual themes such as 007, Alice in Wonderland and Black Diamond, is to open in June 2010 and promises to offer something very special in the city of love.

When Philippe Vaurs and Christophe Sauvage created The Five hotel in Paris four years ago, they made a bold statement to fellow Parisian hoteliers "give your customers an experience or lose them" - and establishments such as The Kube, Murano, Mama Shelter were keen to take up the challenge.

So a new trend was forged in Paris, with the understanding that what people want isn't just a location - they want an experience.

Hotel Le Seven aims to take this concept one step further, providing an environment where guests can disconnect from ordinary life and indulge in a 'seventh heaven.'...

Read the entire article at http://www.easier.com/67642-new-design-hotel-open-paris.html or visit the hotel's Web site at http://www.sevenhotelparis.com/.

Harrogate Set for French Property Exhibition Next Week

Archant Life France is hosting its annual advice and information exhibition on moving to France in Harrogate between May 14 and 16, 2010.

Show visitors will be able to meet real estate market professionals such as estate agents, tax advisers, mortgage lenders and removal and currency exchange companies.

Free seminars led by experts will run throughout the show, offering house hunters an opportunity to have their questions answered face to face.

More information and free tickets are available at http://www.fpeharrogate.com/default.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:

Paris: LE PALACE DES VOSGES	Paris: LE NOTRE DAME
Paris: LE ROYAL du MARAIS	Paris: L'ABBAYE LUTÈCE
Paris: CHEZ LA TOUR	Paris: La Résidence Luxembourg
Paris: LE PETIT TRESOR	Languedoc-Roussillon: MAISON BLEUE
Paris: PARIS RESIDENCE CLUB	Languedoc-Roussillon: NOTRE MAISON DANS TOULOUGES

Readers of FPI can take a look at special offers for Le Palace des Vosges, Le Petit Trésor and Chez La Tour at adrianleeds.com/frenchproperty/fractional.

Upper Normandy Property Guide

http://www.hebdenbridgeproperty.com/

Upper Normandy is located on the North Coast of France. To the North of the region is the English Channel. It is surrounded by the regions of Picardy to the East and Lower Normandy on the west side. To the South are Ile-de-France and the Centre. There are 2 departments: Eure and Seine-Maritime.

Landscape
The Northern coast is typically limestone (chalk) cliffs with long beaches. Inland the countryside is dominated by the meandering Seine. The estuary is just south of Le Havre. Inland there are huge tracts of agricultural land which are not inspiring. Several rivers punctuate the landscape and these areas are attractive. Typified by the Monet Gardens at Giverny on the banks of the Seine near Vernon.

Attractions
One of the big selling points is the Gastronomy of the region – lovely open air markets to sample the wide range of foods: produce from local farms (selling cider, ostrich meat, snails, Calvados, foie gras, and much more).
Water is a distinctive element – from the beaches and cliffs in the North to the rivers that meander throughout the region: rivers, with vast meadows, offering a taste of paradise to all fly-fishermen. The towns of Pont-Audemer and Bernay are surrounded by water and the ever present Seine is a feature in the Regional Nature Park.

There are visits to the archaeological gardens at Vieil-Evreux, medieval fortresses in Chateau-Gaillard, Harcourt, and centuries-old abbeys (in Bec-Hellouin, and Fontaine-Guerard). In the forests of Normandy – Lyons-la-Foret, Ferriere-sur-Risle – one can explore quaint towns and villages.

Fishing boats still land their catches at Fecamp, so that one can savour fresh seafood in the harbour-front restaurants. Further along the coast the large town of Dieppe is well worth a visit. There is plenty to see, with a good choice of shops and excellent restaurants along the quays.

Rouen, the capital of Normandy, is a delight. Its pedestrian center allows easy access to Rouen’s history. There are walks through the historical center, past half-timbered houses, discovering Gothic treasures like the Notre Dame Cathedral, St Ouen abbey, Saint Maclou church and the Palais de Justice or the Renaissance style monuments such as the Saint Maclou ossuary...

Read the entire article at http://hebdenbridgeproperty.com/upper-normandy-property-guide.html.

Russian Billionaire Loses £36m Deposit on the World's Most Expensive Home... plus another £1m interest
By Ian Sparks

http://www.dailymail.co.uk

A Russian billionaire has lost a £36 million deposit he paid to buy the most expensive house in the world on the French riviera, plus another £1million interest.

Mikhail Prokhorov - the world's 24th richest man - offered £360 million for the sprawling Villa Leopolda in 2008.

After making a ten per cent down-payment, he then backed out of the sale after the global credit crunch hit.

But under French property law, once an initial sale contract has been signed, a deposit can only be refunded during a seven day 'cooling-off' period.

A court in Nice ruled yesterday that the villa's owner, 71-year-old Lily Safra, could keep the £36 million pounds.

A judge also ruled that Mr Prokhorov, 44, must pay Mrs Safra an additional £1 million in interest.

Mrs Safra inherited the villa from her husband, billionaire banker Edmund Safra, after he was murdered by his male nurse in Monaco in 1999...

Read the entire article at http://www.dailymail.co.uk/news/worldnews/article-1254867/Billionaire-Mikhail-Prokhorov-loses-36m-deposit-worlds-expensive-home.html#ixzz0hsww960S.

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 ere:
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): Le Bac Marché

Rue du Bac, 7th Arrondissement
Studio Apartment
Sleeps up to 2

Le Bac Marché is a fashionable studio apartment that sits on well-known rue du Bac, in the heart of an upscale Parisian neighborhood. The décor is proudly traditional and gives a feeling of warmth and security for all who stay there. The main room 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 placeto 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. 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.

Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/bac.html

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

HOT PROPERTY PICKS: Long Live Leasebacks

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 leaseback properties located throughout France.

	***** French Alps, Les Gets: Studios & three-Bedrooms** Newbuild, 4-star residence. Situated close to all amenities (400m from the Chavannes ski-lifts and approximately 300m from the piste of the Vieux Chênes). Les Fermes Emiguy blends the charm and authenticity of Savoyard architecture with modern equipment. The residence will have 74 apartments from studio to 3 bedroom flats and 8 individual chalets, underground garages and car park spaces. It will offer luxury facilities including outdoor and indoor heated swimming-pool, whirlpool bath, Spa and well-being area, sauna, steam room, fitness center, laundry, a bicycle area and seminar rooms. Les Gets is a pretty Savoyard Village situated in the Portes du Soleil Ski Domaine. Geneva airport is one hour drive. Asking Price: €173 000 to 338 000 + 2% finders fee
	*** French Alps, Lyon: Studio & One-Bedrooms This residence is situated on the "Cours Albert Thomas" which is one of the main roads in Lyon. It is 10 minutes from the city center and five minutes from the Part Dieu train station. Place Bellecour and old Lyon in the city center are just 10 minutes away on the direct subway line. The Jean Moulin university (5300 students) is on the same street) and is one of the largest business schools in France. This will be a high quality residence with a wellness area (sauna, spa, treatment room) with views over the city. The apartments will offer every comfort and will be particularly well designed for business users. Lyon is the second largest economic center in France and with some 1,250,000 inhabitants, and is the second largest city in France after Paris. It is the capital city of the Rhône-Alpes region. Asking Price:€ 100 000 to 160 000 + 2% finders fee
	*** Normandy, Plescop: Studio to Three-Bedrooms Excellent location in Brittany benefiting from beautiful jagged coastline with cliffs, panoramic views over sandy beaches, exceptional seaside resorts and lively commercial and unspoiled fishing harbors. The residence will be located in a wooded park and will comprise apartments and cottages with terraces and a heated swimming pool as well as a water therapy Spa. Plescop is a charming town with a population of only 5382 which has risen from 1069 in 1962. Moreover it has a huge young population (31% under 20 years old) which is reflected in the many social, sports and educational facilities in the town. This residence will be built in Tréhuinic business quarter which has been developing at a huge rate since 1998. Asking Price:€ 60 000 to 188 000 + 2% finders fee
	***** Mediterranean Coast, Frejus: Studios to Three-Bedrooms** On the French Riviera only 5km from the Mediterranean Sea! Excellent location in coastal town of Frejus in the popular Var department of southern France. Frejus is a medieval city as well as a popular seaside resort attracting many tourists. It is a renovation of an existing building but the renovation will be extensive and therefore treated as a new build with full 19.6% VAT rebate and lower notaire fees. It will be of 4-star standing and will offer top of the line facilities including heated swimming pool, sauna and fitness center. It will be nestled within an enclosed garden area with certain apartments boasting a balcony or terrace. The residence is located approximately 20 minutes from Saint Tropez and not far from Cannes in the La Tour de Mare district of Frejus. Asking Price: € 92 000 to 300 000 + 2.5% finder's fee

The Next Notaires' Property Auction - March 16, 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.frenchpropertyinsider.com/

	The following properties will beauctioned off March 16, 2010:
	2010-06-01 2 Rooms 33m² 49 rue Sébastien Mercier 75015 - PARIS 15eme Starting Bid: 140 000,00 € Deposit 14 000,00 €
	2010-06-02 House 66m² 3 Passage Volta 94200 - IVRY SUR SEINE Starting Bid: 112 000,00 € Deposit: 22 400,00 €
	2010-06-03 2 Rooms 36m² 35 rue Emile Desvaux 75019 - PARIS 19eme Starting Bid: 160 000,00 € Deposit: 32 000,00 €
	2010-06-04 2 Rooms 33m² 11 rue Beauregard 75002 - PARIS 2eme Starting Bid: 128 000,00 € Deposit: 25 600,00 €

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.

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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: www.onlineconversion.com/

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