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French Property Insider

Volume VIII, Issue 19
May 13, 2010
Paris, France
http://adrianleeds.com/frenchproperty/insider

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Special Note to New Subscribers:

We have been publishing this "e-zine" since 2002 for paid subscribers, and now, since April 29, 2010, FPI is free to all who wish to stay informed of what's new on the French property market...for investment or pleasure.

During all this time, while providing 50 issues every year, we have amassed an extraordinary amount of information about investing in French property which is now at your fingertips...absolutely free. Be sure to take advantage of all the Web site has to offer by reading past issues, archived articles, special reports and up-to-date Paris property price information -- all of which you can find by using the links on the left panel of the Web site.

We hope you will enjoy reading French Property Insider and if you do, please be sure to forward it on to your friends and encourage them to subscribe. Here's how: www.adrianleeds.com/frenchproperty/insider/subscribetofpi.html

A bientôt,

Adrian Leeds
Editor, French Property Insider

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Bonjour French Property Insider Subscriber,

Bonjour French Property Insider Subscriber,

For those of you who have followed the 'scuttlebutt' about the city of Paris "cracking down on private landlords," I have very important news and an even more important message for all of you who either own a short-term rental apartment in Paris, or who wish to own one or who even just rent one for pleasure.

You have not heard much from me on this subject in any public forum, not because we've wanted to sweep it under the proverbial rug, but because MISINFORMATION leads to a whole of lot of MISGUIDED BELIEFS and FEARS where none are warranted.

The original press release, issued by individuals with no authority nor credentials as journalists, made the following declaration, which caused quite a stir among the apartment rental industry, not to mention causing a kind of 'brush fire' in the media:

The statement is true in some sense. Yes, the laws exist. Yes, it MAY affect thousands of owners, but the truth is that only about 5 owners received letters(!) -- all of whom had been denounced by their neighbors! Yes, the city needs to find more housing, but is this the way they can accomplish that? They know not.

My team and I have been very much in-tune with the issue from the very beginning, have consulted with our lawyers and notaires, have kept abreast of virtually every article that has been published on the subject and have been in touch with officials in the City Hall who have the inside scoop. I think by now we have a very clear view of exactly what transpired from a legal point of view and what is actually the reality.

Compare this with the fact that a law banning women from wearing pants in Paris is still technically 'on the books' (first introduced in 1800), because even after an attempt to remove it in 2003, a right-wing Member of Parliament from President Nicolas Sarkozy's UMP party said: "Disuse is sometimes more efficient than (state) intervention in adapting the law to changing mores."

I cite this because that's exactly what you can expect from the so-called short-term rental laws that have actually been in affect since 2008, with attempted enforcement of only a handful of owners. My "little birdie" at the City Hall who is also well informed of the issue wrote:

So again, to all of you who either own a short-term rental apartment in Paris, or who wish to own one or who even just rent one for pleasure...rest easy. Paris will always be one of the best property investment markets in the world.

The recent Wealth Report 2010 on high end residential property by Knight Frank and Citi Private Bank ranks the world's top property markets, based on economic activity, political power, knowledge and influence and quality of life. It is not surprising to find Paris among the top three:

Plus it ranked #1 in Quality of Life. Click here to download the entire report: http://www.knightfrank.com/wealthreport/Documents/pdfTheWealthReport2010.pdf

We fully believe that regardless of what may seem like a threat, city officials will not want to discourage foreign investment, devalue property, nor hurt tourism. Do you?

A bientôt,

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

P.S. Chapter Ten of "Viager with a View," the five-year saga of the apartment that stole my heart..."Le Saint-Tropez," will be published on Monday, May 17th in the Parler Paris Nouvellettrer® to describe the completion of the renovation, launch of the apartment and first official short-term rental! Be sure to subscribe if you are not already a reader: http://www.adrianleeds.com/parlerparis/subscribe.html

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To Guests of Parler Paris Apartments...
Take Advantage of your Free One-Hour Consultation with Adrian Leeds

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.parlerparisapartments.com for more information or email me at: adrian@adrianleeds.com

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

Le Palace des Vosges Our most exciting and most luxurious property on the Place des Vosges in Paris!	Le Notre Dame A petit studio next to Notre Dame at a Petit Price!
L'Abbaye Lutece A two bedroom, two bath ground floor apartment on a medieval courtyard next to Notre Dame!	Le Royal du Marais A two bedroom, two bath apartment at the entrance to the Pace des Vosges, in Paris' prestigious Marais district!
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La Résidence Luxembourg A spacious one-bedroom on the Left Bank!	Jardin Saint-Paul Sold out!
Paris Residence Club Three luxurious properties in Central Paris!	Design Your Own!... Put your own group together to purchase a property!
Le Muguet A Medieval Fractional Ownership in Provence!