Showing posts with label Paris. Show all posts
Showing posts with label Paris. Show all posts

Thursday, June 30, 2011

It's a Hot Time in the Old Town Tonight


August 2009, Photo by Benoit Tessier for Reuters

French Property Insider
Volume IX, Issue 26
June 30, 2011
Paris, France
FrenchPropertyInsider.com


Bonjour French Property Insider Subscriber,

Le Saint-Tropez, French Property Insider
Le Saint-Tropez...cool as a cucumber: air conditioned, large terrace and lots of light -- available this Summer.
SAY HELLO TO ANOTHER HEAT WAVE

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.'

Property Prices, French Property Insider

PACS, French Property InsiderHOT PACS

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


Adrian LeedsA bientôt,

Adrian Leeds
Editor, French Property Insider

Email: fpi@adrianleeds.com

Adrian Leeds Group


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!

Thursday, June 2, 2011

Paris Property Report: The Sky's the Limit


For Immediate Sale:
51 m2 on rue Vieille du Temple (3rd) for 730,000€ (*See the P.S.)

French Property Insider
Volume IX, Issue 22
June 2, 2011
Paris, France
FrenchPropertyInsider.com


Bonjour French Property Insider Subscriber,

The report is out. Paris property prices are up 20.8% this past year -- from first quarter 2010 through first quarter 2011. And that's an average! In one district, the 7th, prices have soared as high as 27...%. Crazy?! "Au contraire." It was to be expected. Interest rates remain low and available housing on the market struggles to increase, therefore demand is up and owners are reluctant to sell. So, it's not a surprise that sales actually diminished by 12% over the same period.

Much to the dismay of the politicians who are scrambling to find affordable housing for their constituents, the idea of holding on to property and renting it at a profit grows in popularity...by both the French and by foreigners who see an investment opportunity...just like us.

The average price per square meter in Paris is up to 7,780€, but certain central districts have risen over the 10,000€ per meter mark -- the 4th, 6th and 7th. Only the 19th district is still under the 6,000€ per square meter line. For the first time in four years, the 7th district (11,880€/m2) has surpassed the 6th (11,870€), followed by the 4th (11,080€). A fourth district passed the 10,000€/m2 bar -- the 1st with 10,030€/m2. In contrast, the least expensive district remains the 19th at 5,970€/m2, followed by the 20th (6,380€/m2) and the 18th (6,830€/m2).

This period has shown the strongest growth in the last 20 years measured at between 16.4% (2nd) and 27.3% (7th). Per square meter prices vary between 5,900€ in the Amérique quarter of the 19th and 12,710€/m2 in Les Invalides of the 7th.


There has been a lot of discussion about the French property market heading toward a "bubble" that could break at any moment...but there is enough evidence to show this isn't true. Prices trending upward has more to do with a lack of inventory and that doesn't appear to be solvable in the near future -- particularly in Paris where historic districts are protected and new builds are virtually impossible. Interest rates are creeping up, which will diminish demand, therefore prices may tend to level, but there is no sign of a burst of the so-called bubble!

How high can prices go? As long as investors have the funds, lenders are willing to lend and inventory remains low, there is no telling. What's of primary concern is how rental rates are not keeping up with cost and therefore return on investment from the perspective of rental revenues, is lessened, even if appreciation remains strong.

Is it a good time to buy? My opinion is 'yes.' At today's low interest rates (under 4%), it's a perfect opportunity to get your toe in the proverbial water and in five, ten or 20 years, you'll be very happy you didn't pass up the opportunity...like so many are doing now when they had the same chance a few years ago!

SPECIAL NOTES:

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. The statistics are released about two months after the closing of the quarter based on the selling price noted on the "Acte de Vente" or sales deed. 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,

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.

To read the report in its entirety, download the pdf (in French) here.

A bientôt,

Adrian Leeds
Editor, French Property Insider

Email: fpi@adrianleeds.com

P.S. *This beautiful 51m2 apartment with mezzanine in a historic Hôtel Particulier has just come on the market for 730,000€. If you are interested, contact us immediately, as it will be sold within moments!


Friday, May 27, 2011

Who's on First? Or... What's On in the First?


Les Halles...Let the Renovation Begin!

Who's on First? Or...
What's On in the First?

French Property Insider
Volume IX, Issue 21
May 26, 2011
Paris, France
FrenchPropertyInsider.com




Bonjour French Property Insider Subscriber,

Les Halles, located in the very center of the city (1st arrondissement, once known as the "belly of Paris" when it was the city's central wholesale marketplace, was demolished in 1971 and replaced with an underground shopping center that the city has regretted ever since.

The marketplace was moved to Rungis. Beneath it is the underground station Châtelet-Les-Halles, a central hub of the RER, Paris's express commuter rail system where 750,000 travelers pass daily. During the conversion period, the site was one enormous open pit, nicknamed "le trou des Halles" (the hole of Les Halles) and was an eyesore for many years at the foot of the church of Saint-Eustache.

Now 40 years later, Les Halles is undergoing another massive renovation to right the wrong of the past and once again, it's looking like "Le Trou." Architect David Mangin won the award to redesign the project a few years ago and the work has begun with a vengeance. What is planned is "a new inviting public garden, a larger pedestrian district, a new building inspired by nature, a greater number of easier-to-use pathways and routes, a larger, more functional regional train station, an enlarged, refurbished shopping center, more cultural facilities and a reorganized underground road network."Completion is scheduled for 2016.

What is most fascinating from our perspective is of course, not only what Les Halles will become, but how it will affect the real estate in the adjacent districts. For now, one must travel around it, rather than cross the once winding paths of the garden to go from the first arrondissement to the second. This cuts the second off from the center of the city for the time being, but 2016 isn't so far off. If Les Halles promises to be all the city hopes for it, all adjacent districts will benefit from the renewal. My guess is that property here will be prime...as long as the changes help reduce the crime and bring a higher class of resident as well as tourists to the now less desirable city center.

There is an information center at the southeastern corner where you can see the miniature model and pick up brochures. More information is at the official Web site at http:/www.parisleshalles.fr

Just a few blocks down from Les Halles is another project undergoing massive renovation -- La Samaritaine. This was one of Paris' first department stores having opened in 1869 at the foot of Pont-Neuf (the city's oldest bridge), which closed in 2005 when the building didn't meet safety codes. Declared a historical monument, the 11-story Art Déco structure was known well by tourists for it's beautiful architecture and outstanding views of the city from the rooftop terrace, if not for its wares.

La Samaritaine will reopen prior to Les Halles -- in 2014, as a fusion of hotel (80 rooms), shopping center, office and apartment complex, with a new glass facade and the interior entirely renovated. It promises to provide 2,400 new jobs. What will happen with the rooftop terrace is entirely under speculation. I have my own fantasies for what is possible there!

You may visit the project at 83, rue de Rivoli and for more information, visit http://www.paris.fr

Both renovation projects promise to bring the 1st arrondissement to a new level -- more befitting the heart of Paris than we've witnessed to date. I urge all investors to consider renewed interest in the first district -- as with all these improvements, the value of real estate is sure to rise.

A bientôt,

Adrian Leeds
Editor, French Property Insider

Email: fpi@adrianleeds.com

P.S. Next week we will be reporting on tonight's event, "Legal and Compliance Issues for the US Expatriate," presented by Joel M. Nagel of Nagel & Associates, LLC and Peter A. Zipper, Caye International Bank, Ltd. Stay tuned...

Monday, February 14, 2011

The City of Love and Light


"Dans la Cour" by Erica Simone

The City of Love and Light

Parler Paris Nouvellettre®
Your taste of life in Paris and France
ParlerParis.com
Monday, February 14, 2011
• Paris, France


Dear Parler Paris Reader,

Is there a more romantic city in the world than Paris?

I can think of only one that may barely come close: Rome. Maybe you can think of others that make you swoon, but Paris is pretty tough to beat when it comes to laying on the sweet talk.

And the French are a pretty romantic bunch, wouldn't you agree? Virility for a Frenchman is not about brute force, but about the ability to be passionate. What a difference that makes to turning the heads of women of every age.

Take notice all you tough American types who think your tattooed muscles are what get the girls. Forget the machismo and start learning the language of love: write poetry, become a connoisseur of chocolates and open an account with a florist. Believe me, you'll be way more successful in the romance department.

Here in the City of Illuminated Love, more than 2000 Parisians sent in their words of love so that the city could display them on the illuminated panels that adorn 170 spots all over the arrondissements. Messages from Parisians such as Henri, Isabella, Pierre and Louis. There were so many, that city officials had a difficult task in choosing from the various marriage proposals, invitations to live together, prose and poetry, all to be broadcast today, Valentine's Day, between 6 a.m. and midnight.

Could you and your lover be like one of these adoring couples?:

Henri and Nicole, age 74: a great love affair pegged to the Ménilmontant neighborhood who met at the age of 14 who say that about their love that "Aujourd’hui, c’est plus intense et plus profond." ( Today, our love is more intense and deeper.)

Louis, 49 and Jean, 28: Louis declared his love on a panel six years ago. They met on the Internet in January 2005 and shortly after, the City of Paris had begun it's illuminated signs for Saint Valentine. So, there it was all for them at the corner of rue des Pyrénées and rue de Ménilmontant.

Isabella, 46 and Enzo, 55: she is a mother of three who rebuilt his life -- these two Italian-born Parisians who met through a dating site: "It was December 31, 2006. I was stranded at the last minute and we were alone together. It was a rendez-vous in a small Parisian restaurant. It was love at first sight "and since then 31, it's became our own private party."

Marion, 55, and Pierre, 56: Marion and Pierre first met 20 years ago via the Minitel (remember that!?). It was love at first sight -- at the Gare de Lyon. She was wearing a country skirt, had a fresh complexion and didn't look like the other women. She brought with her three kids into their newly found love, one of whom died tragically, but together discovered special moments, such as a memory of blowing bubbles at the Jardin du Luxembourg..."l’allée des bulles" (the path of bubbles).

And what if you don't have a lover "a ce moment?" At least you have the City of Paris.

I have contended for many years that one can't be lonely for love in the world's most romantic city, as it is inevitable to have a love affair with the city itself. She (Paris) saved me once upon a time when being out of love with a lover was the loneliest time in my life.

Should this be your situation, don't despair. Just take in the sights, the sounds, the smells and you will sense the romance in the air at every turn -- a city not trying to be hard, tough or cold, but delicate, feminine and vulnerable.

Give her words of tenderness, boxes of chocolate, bouquets of flowers and she will return the favor in multiple kind. You will never be lonely, never be longing for love, in the City of Love and Light.

Happy Valentine's Day to all those in love, out of love or desiring of love.

A la prochaine...

Adrian Leeds
Editor, Parler Paris

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P.S. Tomorrow is the deadline to register for "Writing from the Heart...a journey into the heart of France, and into your own heart..." See below for more details or visit frenchpropertyconference.com


Wednesday, February 2, 2011

A Textile Institution at the Foot of Sacre-Coeur


Parler Paris Nouvellettre®
Your taste of life in Paris and France
ParlerParis.com
Wednesday, February 2, 2011
• Paris, France








Dear Parler Paris Reader,

One of the things you will discover when furnishing a Paris apartment or other home in France is that the cost of linens by comparison to American sheets and towels is about double. They haven't yet had the shopping pleasure of such stores as "Bed, Bath and Beyond" or "Linens and Things" where you can purchase a duvet cover for as little as $29.99 or bath towels starting at $5 each in a zillion different colors.

At the BHV, their own house brand duvet cover for a double bed starts at 49€ (about $70) and their bath towels start at 17,50€ (about $25). Ikea offers linens at a bargain, but then that requires a trip to the suburbs and a way of getting all the heavy packages home which may be an expensive taxi ride.

So, if you're making a move here or setting up a home, you have a few money-saving solutions, including shipping the linens (just be careful that anything you ship won't get hung up in customs with duty to pay on your shipment!) or packing an extra suitcase filled with your favorite bargains (I can't tell you how many times I've tossed in a set of sheets or two before heading back to Paris!). (Keep in mind that bedding sizes vary. Be sure to check the American sizes in inches against the European sizes in centimeters. Here's a great site for reference: international-bedding-size-conversion-guide)

Personally, I chose to do none of the above to replenish the stock of linens for the rental apartments, Le Provençal and Le Saint-Tropez. Instead, I made a trip to one of my favorite spots in Paris -- the Marché Saint-Pierre at the foot of Montmartre where linens are at moderately bargain prices, but where the shopping is total eye-candy!

A costume-designer friend who knows every shop in the "quartier" agreed to join me for the little excursion after a typically French lunch at Le Ronsard Café (13 Place Saint-Pierre, 75018 Paris). From the café, there is a drop-dead perfect view of Sacre-Coeur and while the food is not something you'd 'write home about,' it provides a good taste and a full belly for a spree among the fabrics, trimmings and linens.

If you're in the market for fabrics for dressmaking or draperies along with all the "mercerie" (haberdashery) one could possibly dream of, these few streets surrounding the main store is sure to have everything you would need, plus a lot more. The Marché Saint-Pierre calls itself "an institution" with over 60 years of central presence in the world of textiles. And while that may be a bit of an overstatement, there is no doubt that an afternoon there will stir your creative juices.

Within less than an hour, I managed to purchase duvet covers and pillow cases in many different colors to match the respective decors plus a new bedspread amassing four bags weighing too much to carry home on my own. Thank goodness for Paris taxis for door-to-door service!

A la prochaine...

Adrian Leeds
Editor, Parler Paris

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P.S. The first edition of the Expat Expo will be held this weekend on the 4th, 5th and 6th of February 2011 at the Parc Floral in Paris. Expat Expo caters for all expatriates in France whether they are executives or managers, pensioners, students, property owners or investors, but also those who are preparing for a future expatriation. Visit http://www.expatexpo.fr/ for more information.

P.P.S. It's the year of the rabbit! Don't miss the Chinese New Year in Paris beginning tomorrow with lots of special events. For more information, visit http://www.paris.fr/

P.P.P.S. Don't forget our next Parler Paris Après Midi meeting is Tuesday, February 8, 2011 and every second tuesday of the month, 3 p.m. To 5 p.m. (Closed august)...then read about our new program beginning in March! For more information, visitparlerparis/apresmidi.html

Monday, January 31, 2011

Marketing and Making Your Parisian Mark


An Oyster Lunch After La Marché Bastille

Marketing and Making Your Parisian Mark

Parler Paris Nouvellettre®
Your taste of life in Paris and France
ParlerParis.com
Monday, January 31, 2011
• Paris, France













A Note from Tom Regan

Dear Parler Paris Reader,

My daughter told me not to miss the Andrée Putman Retrospective exhibition at the Hôtel de Ville, that I would ‘freak!’...and she was right. It took too many weeks before I found the time to sneak in an hour before closing at 5:45 p.m. on Friday afternoon while the line to enter in the freezing cold was its briefest.

Until a few years ago, I didn’t have a clue who she was. Then, at an event at the City Hall, one of the many galas celebrating “Paris, Capital de la Création,” she spoke and presented awards to young designers. A French friend attending with me was impressed by her presence, but to me she meant nothing.

Why hadn't I known about Ms. Putnam’s designs when I was developing a hunger for checkerboard and harlequin patterns? She was busy marketing modern classic designs via her company, Ecart International; inventing boutique hotels in major cities such as New York, Cologne and Paris; creating movie sets for Peter Greenaway; designing china dinnerware for the Air France Concorde and jewelry for Christofle. Her interiors include the Guerlain flagship store on the Champs-Elysées and private residences in Dublin, Miami, Paris, Rome, Shanghai, Tel Aviv and Tangiers. Her recent project in Hong Kong with its 21 stories is appropriately named “The Putman” and she says of it and her most successful projects that they are “the perfect balance between discipline and revolt.”

My daughter was right. Don’t miss the exhibit!...on until February 26th and open every day except Sundays and holidays at the Hôtel de Ville de Paris. For more information, visit:paris.fr/

Saturday afternoon I set out to peruse the annual winter sales before they disappear and we go back to paying full retail price on everything. Things are well picked over by now and the “nouvelle collections” are starting to take over more retail space than the mark-downs. The first shop to step into was an immediate success purchasing...guess what(?)...one pair of black slacks and one black skirt...at almost half price. (If you read lastWednesday’s nouvellettre®, then you know that these two items fit to a tee into the perfect Paris wardrobe).

A zillion stores later, winding my way down rue de Rivoli, through the “BHV” for a bit of torture (packed with people!), then on to rues Vieille du Temple, des Francs Bourgeois and Turenne, not a single other item called out from the sale racks to be taken home. The only other items to make their way to my arms were two bags of tea from Palais des Thés: Noix de Coco (coconut) and Earl Grey. If you haven't already braved the crowds, know that the sales officially end February 15th.

It seems crazy considering the city’s largest open-air market is a 10-minute walk from my apartment, but I hadn't visited the Marché Bastille in literally years. Excursions to the market ended when I no longer had anyone for which to cook except for myself and occasional dinner guests. Then, I entirely gave up cooking for myself and even guests started to suffer from lack of invitations. The refrigerator got clean and neatly organized with just the essentials (less is more in Paris): bottle of champagne, bottle of white wine, jar of pickles, jar of mustard, can of coffee, bottle of milk, carton of fruit juice, a few eggs (old, I'm sure) and butter. I'm very proud of its minimalism as I eat in a restaurant or café virtually every meal now even though in another lifetime friends who regularly came to dinner once called me the “Pasta Queen.”

There were a few reasons to go to the market Sunday morning with friends. One was just for fun and act like a tourist, another was to purchase fresh oysters for Sunday lunch and a third was to purchase artichokes for a dinner I am actually going to attempt to make Wednesday night for a small group of very close friends. It’s been a tradition for 14 years to make marinated artichokes on February 2nd. This date has personal significance and artichokes are the symbolic vegetable. (I can see you rolling your eyes. To that I say, “Don’t ask. You don't want to know.”)

The Marché Bastille is THE open-air market of France. It’s the largest in Paris if not all of France with four aisles of stands from Place de la Bastille along boulevard Richard Lenoir to the Bréguet-Sabin Métro station. Don’t go there hungry, don’t go without a big marketing cart and don’t go if you don’t cook, because it may torture you to see the fabulous fresh and prepared foods without buying everything you see.

(This week my sister living in New Orleans sent photos of a recent meal she had just to torture me: Louisiana blue crabs, crawfish and shrimp boiled in Zataran’s spice mix. That wasn't nice of her, was it?)

There is one stand at the market that offers a dozen different kinds of herring! If you think you can't choose between one “primeur” (fresh produce) or another, just seek out the ones where there is a queue, because the regulars will know it’s either better or cheaper than the others. The fresh fish and seafood stands make me swoon, since I’ll eat anything that swims in the sea and the spice stands are not only beautiful to look at for their warm colors, but heavenly to just visit for their intoxicating scent. The merchants can often be quite entertaining – each may behave like a kind of ‘showman,’ proud of his/her wares and willing to stand out in the freezing cold or sizzling heat for hours to serve up goodies and “schmooze” with the customers. Plan on striking up lots of fun conversation with the merchants, as well as fellow-purchasers.

I bought six large purple artichokes. The merchant couldn't tell us what the difference was between the green and purple ones – so I’ll guess we'll find out if they are tastier or not Wednesday night. I also came home with a bag of raw almonds, a bag of tiny black Niçoise olives, a few lemons and a kilo of green beans...no where near as much as if I were to regularly cook!

When I returned home, "by sheer coincidence in my email in-box was a note from old friend, Tom Regan, with a 'greeting card' -- "Just got back from the market and had to take a photo of the beautiful fresh fruit that helps make Paris living so very special!" How apropos was that?!

The market is open Thursday from 7 a.m. to 2:30 p.m. and Sunday from 7 a.m. to 3 p.m. and well worth a special trip. Just so you know, by Wednesday night, we will have eaten all that and the fridge will be perfectly clean again...until my daughter arrives Friday from New York, goes to the market and messes it all up again!A la prochaine...

Adrian LeedsA la prochaine...

Adrian Leeds
Editor, Parler Paris

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P.S. IMPORTANT NEWS: Since October of 2003, Parler Paris Après Midi has been an opportunity to meet with other Parler Paris readers, come for drinks, share information about what it takes to create a life here and to make friends. It's been fun and we've enjoyed every minute...but now we want to make Après Midi even more useful and fulfilling!

Beginning March 8, 2011 a guest speaker of note will come to talk about a topic of interest and then open the floor for questions and discussion!

There is no charge, except for what you drink or eat and La Pierre du Marais does request that at least one item is ordered (that's why we can do this at no cost!)

Our goal is to provide a forum of discussion where we can all learn a lot about living in France as well as a way to make friends! And we hope you will find this more fun than ever!

The speakers will be announced in advance, so be sure to read Parler Paris to learn who!

BUT DON'T FORGET OUR NEXT MEETING IS...FEBRUARY 8, 2011 AND EVERY SECOND TUESDAY OF THE MONTH, 3 p.m. to 5 p.m. (closed August)

For more information, visit parlerparis/apresmidi.html