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French Property Insider

Volume VIII, Issue 23
June 10, 2010
Paris, France
http://adrianleeds.com/frenchproperty/insider

Subscribe your friends to French Property Insider...it's FREE!

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Hot Property For Immediate Sale: Two-Bedroom Two-Bath Luxury Air-Conditioned Rental Apartment Adjacent to Place des Vosges, Paris 4th

Approx. 55 square meters, bright and sunny two-bedroom, two-bath proven luxury rental apartment, sharing a wall with the 400 year-old Place de Vosges in the 4th arrondissement, is offered for immediate sale by American owner, completely furnished for immediate occupancy or rental. Recent renovation restored its oak wood floors and moldings to their original beauty. The bathrooms and kitchen are the perfect blend of modern comfort and old world charm. The apartment has central heating and air conditioning, an unusual feature. This is a perfect hassle-free investment for someone who appreciates esthetic value, wants sheer luxury and comfort and is seeking revenue potential. Will sell quickly.

Asking Price: 689,900€
No agency commission. Includes furnishings estimated at 20,000€. Finder's fee of 2.5%.

For more information, contact adrian@adrianleeds.com

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Bonjour French Property Insider Subscriber,

The report is out on the quarterly statistics for the property market in Paris and the entire Ile-de-France region for First Quarter 2009 through First Quarter 2010.

I can't stress this enough. Before you read the following article and look at the most current reported property statistics, please learn HOW to understand them so that they will be useful to you.

The property price figures for Paris and the Paris region (Ile-de-France) are reported quarterly by the INSEE, the French National Institute for Statistics and Economic Studies (www.insee.fr). The statistics were released for the end of first quarter 2010, about two months after the closing of the quarter. Given that the properties to which the statistics relate were purchased about three months earlier than the deeds were recorded (the time between the signing of the Promesse/Compromis de Vente and the Acte de Vente), you can assume then, that these figures are already out of date by at least five months.

Other factors that contribute to a variance are:

1) the reduction in the purchase price, which can be attributed to direct payments made to the sales agent (agency commissions) to help reduce Notaire fees,

2) the listing of inventory of fixed furniture such as built-ins and appliances and...

3) the under-the-table cash transactions, which are illegal but do occur,

4) and finally, the figures are diluted as they are reported by an arrondissement in its entirety and do not account for differences by neighborhoods or quality of properties.

We know for a fact that the actual market values can be considerably different than those the Chambre de Notaires report based on property searches and visits we perform daily and how those compare with these reported prices. So, when setting out to find your perfect Paris apartment, keep in mind that what really counts are the asking prices of comparable properties!
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The Chambre de Notaires de Paris report for First Quarter 2010 is 20 pages of charts and analysis in French (naturally). Although the report encompasses the entire region, because our audience is primarily interested in Paris, we will look solely at the City of Light, however, you can click here to download it in its entirety: frenchproperty/insider/Communiquedepresse27mai2010.pdf

In regard to the Paris property market, the report reiterates exactly what we've been talking about the last few issues of French Property Insider -- there is so little product on the market and lenders' offerings are so enticing that there is high demand and limited supply. This means that sales are strong and there is no negotiation on price. (Remember, a seller is morally obligated to accept asking price, therefore you eliminate all risk that the offer will not be accepted when paying full price.)

For the first quarter, the volume of sales is up by 5.2%, prices are up by 3.2% and for the year, up 1.7%. This is another reason buyers are scrambling to find properties before prices escalate even further.

 

 

The districts experiencing the greatest price increases are those that had the most room for growth: the 5th (5.9%), 20th (4.5%), 2nd (4.2%), 12th and 18th (4%). A few districts saw a downturn in prices -- those which had already been over inflated: the 6th (-5.5%), 7th (-3.6%) and 4th (-0.1%). None of this is very surprising, and is in fact quite natural for the different areas of the city to become a bit more balanced overall.

The 6th district continues to remain Paris' most expensive (9,550€/m2), followed by the 7th (9,330€/m2) and the 4th (9,160€/m2). Again, I'd like to remind you that you will unlikely see these per meter prices on a property in these districts you would be willing to own!

For example, in the last two months, our own clients have purchased property as follows:

rue Charlot	3rd	12,000€/m2
boulevard Beaumarchais	3rd	10,500€/m2
cour Bérard	4th	11,700€/m2
rue Mouffetard	5th	12,200€/m2
rue Buci	6th	14,200€/m2
avenue Bosquet	7th	12,200€/m2
rue Taillandiers	11th	8,200€/m2

As you can see, the reality of today's prices does not directly relate to what the Chambre de Notaire reports, so keep in mind that prices will be higher than the reported averages...and moving up every moment.

Is this a good time to invest in Paris. "Mais oui!" But, even if you have to trade off one asset for another, as it is when the inventory is limited, your investment will rapidly grow, while your mortgage payments will stay low!

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A Tale of Synchronicity...

In May 2007, would-be buyers landed at Charles-de-Gaulle and went directly to visit an apartment in the 3rd arrondissement for sale. It was the first apartment they visited. They loved it so much, they agreed to purchase it. It's now a vacation rental apartment we advertise on Parler Paris Apartments (La Rose du Marais).

In May 2010, would-buyers landed in Paris and went first to their vacation rental apartment, La Rose du Marais, then only a few hours later went to visit an apartment IN THE SAME BUILDING for sale. It was the first apartment they visited. They loved it so much, they agreed to purchase it.

Stay tuned for when the second apartment in the same building become available for vacation rental!

A bientôt,

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

P.S. Don't miss the special offering at the top...Hot Property For Immediate Sale: Two-Bedroom Two-Bath Luxury Air-Conditioned Rental Apartment Adjacent to Place des Vosges, Paris 4th...it will not be on the market for long!

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Enjoy summer in Paris with a rooftop terrace and air-conditioning.

Le Saint-Tropez and La Brigitte

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Enjoy a chilled glass of rosé and relax on your private rooftop terrace – when you open the terrace doors, the size of the apartment practically doubles! Air-conditioning adds extra summer comfort to this jewel in Le Marais.

Visit: www.adrianleeds.com/parlerparis/apartments/rentals/saint-tropez

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The apartments are booking up fast, so reserve today!, click here to make your request: Request_Form or contact apartments@adrianleeds.com

Please note: These special deals are valid only on new bookings of four nights or more and offers cannot be combined.

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This Time Next Year, You Could be Living Your Dream...

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September 16-18, 2010
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Whatever you fantasize about... come with that idea in mind. We’ll show you the places in the world today where you can live your dream, for a small fraction of what you’d pay for a comparable life at home.

Adrian Leeds will be a guest speaker at the Live & Invest Overseas Conference on "Living the Dream to Live in France"

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2010 Speaking Tour
"Living the Dream to Live in France"

Alliance Française San Francisco
September 22, 2010
http://www.afsf.com
1345 Bush Street, San Francisco, CA 94109-5611
$25 Entry Fee Includes 2-Hour Presentation and Wine Reception Following

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Be a FREE Guest at "Le Palace des Vosges"

The luxurious two bedroom fractional ownership apartment in the Place des Vosges, known as "Le Palace des Vosges," is available for immediate rental when the owners aren't occupying it!

And even better than that...should you decide to purchase a share, your rental fees (up to one week's worth) will be deducted from your share price! That makes your week at Le Palace des Vosges absolutely FREE!

Book your stay now before the shares get sold out!...and then get it FREE when you become an owner yourself!

For complete information including rates, visit Le Palace des Vosges and to book your stay, use the online Request Form or contact apartments@adrianleeds.com

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Transfer Currency and Save Money in the Process...
with Moneycorp

When you're buying a holiday home or investment property overseas, trading your currency can be a crucial cost factor. 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 or anytime you transfer from one currency to another.

For more information, visit: moneycorpconvertor.html

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Own a Piece of Paris. Fractional ownership is the hottest way to own your piece of Paris simply, easily and inexpensively! Here is just one of the offerings available through French Property Fractional:

L’Abbaye Lutece - A two bedroom, two bath ground floor apartment on a medieval courtyard next to Notre Dame

For more information on this and other fractional ownership properties now available or to learn how you can design your own property, visit French Property Fractional