August 2009, Photo by Benoit Tessier for Reuters
Volume IX, Issue 26
June 30, 2011
Paris, France
FrenchPropertyInsider.com
Bonjour French Property Insider Subscriber,
Le Saint-Tropez...cool as a cucumber: air conditioned, large terrace and lots of light -- available this Summer. |
We're expecting another heat wave this summer. Spring 2011 was the hottest in 100 years, as well as the driest in the last 50 years. So, get out your fans and air conditioning units...2011 could be the hottest on record. As a visitor, choose to stay in air-conditioned apartments or hotels, or make sure there's good cross ventilation. As purchasers of French property, either find ways of air-conditioning your property or again, look for good cross ventilation.
HEATED UP PROPERTY PRICES, SALES COOLING OFF
At the end of April the price of property in Paris and the Ile-de-France is still up, up, up, but the volume of sales has waned.
From February through April, 2011, sales of apartments decreased 5% in the Ile-de-France and 8% in Paris.
Resale apartments increased in price over the previous year by 17.2% in Ile-de-France and 21.7% in Paris. For the quarter, increases over the previous quarter were 4.2% and 5.4% respectively.
There is no doubt that there are more properties on the market now and our agency contacts claim the French aren't paying the high prices. While the high price of real estate is good for those who already own, it's not good for those just entering the market...so we are watching carefully...and staying 'cool.'
With the legalization of the gay marriage in New York, we here in France polish our nails on our shoulders with PACS -- Pacte Civil De Solidarité -- a contract between two adults of the opposite sex or same sex, to organize their life together...just about as close to a marriage as two people can get.
France doesn't see it as at all trivial and a contract of this kind is every bit as powerful to someone's future as a marriage contract. The Chambre de Notaires can assist future partners on the scope of the choices they make: Who can enter into a PACS? How to enter into a PACS? How to dissolve a PACS? Can hold the convention of PACS? How to protect your partner? What are the implications of PACS?
Click here to learn more (in French), download the Chambre's brochure
A bientôt, Adrian Leeds
Editor, French Property Insider
Email: fpi@adrianleeds.com
P.S. Believe it or not, I haven't yet seen my own House Hunters International show set in Normandy! It airs July 8th (see below for details), and would appreciate any of you who can record it and send it to me (via an upload or other electronic fashion)! We thank you in advance!
