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French Property Insider

Volume VIII, Issue 20
May 20, 2010
Paris, France
http://adrianleeds.com/frenchproperty/insider

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Bonjour French Property Insider Subscriber,

Sunday afternoon I entertained a few friends on my new terrace -- the 14 square-meter terrace of Le Saint-Tropez apartment that has taken almost five years to become a reality. I took advantage of the bright sun and the one short moment to enjoy it myself before renters arrived Monday morning to be the first to stay there.

Today in Paris is extraordinarily warm and sunny. It's the perfect day for tanning on a terrace, so you can imagine how jealous I am of my own renters to have the pleasure of this outdoor space that is so hard to come by in the City of Light. Of course, it would be easy enough to take it off the rental market so that it would be available to me at any whim, but that would defeat the purpose of having made the investment itself -- one which I can certainly not afford to do.

Having a terrace in Paris is the ultimate dream luxury, particularly if it's a private one. The outdoor space extends your living area and provides a real communion with the city and all it has to offer. If you are a gardener at heart, then you'll love tending to your flowers, plants and herbs that would be impossible otherwise.

Another one of the big advantages, too, as it was for Le Saint-Tropez, is that a real bona fide air-conditioning unit is possible for the apartment by virtue of having the space in which to put the compressor, as allowed by the building's "copropriéte" (home owner's association) and the city's restrictions on a building's exterior. Air conditioning can greatly increase your rental returns, if not your personal pleasure and is almost impossible to achieve without such a space.

Just yesterday, one of our property consultants had the good fortune to be in the office of one of our best agents at the very instance a new apartment listing was acquired...a two-room apartment on a small "impasse" near Place des Vosges with a private terrace overlooking lovely courtyards, with lots of sky and pleasant views. She was the first to see the apartment and wasted no time in making a full price offer to the seller on behalf of our client.

You should know that in France, the seller is 'morally' obligated to accept asking price, removing the insecurity of bidding wars, as is common Stateside, which in turn inflates the true value of the property creating a 'bubble.' While bubbles were bursting all over the U.S. this past two years, France remained stable as a result of this moral obligation to treat the buyers with fairness. So, should you desire a property greatly, you can almost guarantee it will be yours should you offer asking price, particularly if there is no contingency for a mortgage.

In today's real estate market in Paris, there is so little available property, of any quality, that to find such a jewel is a monumental feat. We were sure that if she hadn't been in the office at the time, it would have gone to the next buyer, who has already issued a full price offer hoping our client's would fall through.

The cost of a terrace is counted as somewhere between one-third and one-half of the square meters. So, for example, Le Saint-Tropez' terrace is 14 square meters, therefore it's value counts as approximately 5 to 7 meters at the same per square-meter rate as the apartment. In reality, it counts for much more than that, just because of its intrinsic value and the fact that you can add such amenities as air conditioning. Plus, it makes any property extremely saleable and reduces your risks in terms of rentals, appreciation and marketability.

I doubt I have to sell you on the virtues of having a terrace in Paris! Anyone who has ever lived in an urban environment can tell you that it's a special asset, but to really achieve it!...that's the tough part. They don't come available often. In fact, very rarely, however in the past year-and-a-half, we've found several terraced apartments for our clients, including a 25 square-meter terrace overlooking rue Vieille du Temple in the 4th and a 40 square-meter private terrace overlooking a tree-planted courtyard behind the apartment on rue Mouffetard in the 5th -- the terrace being as big as the apartment itself!

It's not realistic, however, to think you will come to Paris and find the dream apartment with a terrace as easily as this might seem...but, as you see, one CAN get lucky...or work hard to achieve it! One thing for sure, if you don't dream it, or don't aspire for it, then it's likely never going to happen. It all starts as just a glimmer in the head and heart before it becomes something you can really touch and enjoy.

A bientôt,

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

P.S. Watch us on House Hunters International...

***"Settling Down in Paris" - Episode HHINT-402
Tune In:
June 6, 2010
12:30 PM ET/PT
House Hunters International Episode HHINT-402

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

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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

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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 Saint-Tropez and La Brigitte

Rue de Saintonge, 3rd Arrondissement
Le Marais
Sleeps up to 4

Le Saint-Tropez is a studio apartment of approximately 23 square meters on the 4th floor of a 17th-century Marais building (with elevator) with exposed beams, high ceilings, a large skylight, an unusual picture window over exposed beams and two French doors leading to a 14 square-meter terrace overlooking rue de Saintonge!

The apartment is air-conditioned for summer comfort, heated for the winter and the terrace is planted and furnished for lazy days and evenings in the outdoors where you will be will be sure to dine, relax or check your emails.

 

La Brigitte is a "studette" apartment of approximately 8 square meters just a few steps down the corridor from Le Saint-Tropez. It has two large windows overlooking two Marais courtyards plus lots of sky. This is a perfect spot for a third and/or fourth guest to accompany you while you stay in Le Saint-Tropez. It may be rented only as an "add-on" to Le Saint-Tropez.

Reserve now! Visit: http://www.adrianleeds.com/parlerparis/apartments/rentals/saint-tropez.html

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

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	*** 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, 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