This charming Left Bank studio apartment on the top floor without elevator of an elegant stone and brick 1900 era building has a panoramic view and no vis à vis. It overlooks the Seine, the Right Bank, period buildings and a former private mansion, now an embassy, and its lush gardens.
Continue reading “Studio apartment with view for sale in Paris: Rue de l’Université, 75007” »
Speaking to French weekly Les Echos on Wednesday, Budget Minister Bernard Cazeneuve expressed his hope to continue the strong pace of sales of state-owned property for the coming three years. 547 million euros in revenue from such sales was realized in 2012. “Between 2007 and 2011, the state realized about 4 billion euros in sales. This program has contributed about 15% of the debt reduction” that France has realized in the last years as we already explained in March 2012.
Continue reading “France to continue its energetic sales of state-owned property” »
Question:
I have recently bought an apartment that included a chambre de bonne, with the intention of renting that out separately. The room has its own toilet and shower, and from what I understood about city regulations, was large enough to be rented out for residential use. But when I was showing it to interested renters, one of my neighbors told me that the co-owners had voted several years ago to include a clause in the building rules forbidding the top floor maid’s rooms from being rented out separately (nearly all the owners in the building have one). Is this a valid restriction? Is there anything I can do to overturn that?
Continue reading “Ask Miranda : Can the co-owners prevent me from renting out my maid’s room ?” »
As part of the jubilee celebration of the 850th anniversary of Paris’ Notre Dame de Paris, nine new bells were installed to replace four dilapidated bells in the renowned cathedral in the heart of the city. The new bells first rang on March 23rd, in time for Palm Sunday and Easter week. The sound of the new bells is impressive. Continue reading “Bells are ringing in tune on the Ile de la Cité in Paris” »
It may have snowed in Paris on March 12th, but the Paris real estate market is ready for its annual spring takeoff. Where do things stand for the interested buyer? Continue reading “Let’s make a deal (in Paris)” »
The Concorde luxury hotels portfolio – including the luxurious Hôtel du Louvre and Concorde Lafayette Hotel in Paris, sold to Constellation Hotels France, a Middle East-based investor with global hotel holdings. Jones Lang LaSalle Hotels represented the seller, Groupe du Louvre, a subsidiary of Starwood Capital. Starwood acquired the hotels as part of its takeover of Taittinger, in 2005. The company had been looking for a buyer for the past several years. Although the exact figure was not released, sources close to the deal reveal that the purchase price was between €700 and €750 million, the largest sale of its kind in Europe since 2011.
Perched high on a hill overlooking Paris in the highly prized Butte Montmartre neighborhood of the 18th arrondissement, a top floor duplex in Dalida’s former Montmartre home is currently on the market.
Continue reading “Luxury Paris apartment for sale in Dalida’s former Montmartre mansion” »
The climate is looking more favorable for real estate investment in Europe with many viewing the Eurozone debt crisis as a potential stimulus for activity, a new survey from Ernst & Young shows. Both volumes and transaction size in 2013 are likely to exceed levels seen in 2012.
Continue reading “European real estate market expected to heat up in 2013” »
Within weeks of proposing a temporary 20% reduction in capital gains tax on second home sales in France the government has reversed course, increasing the tax on large gains instead. Of course tax rates on long term capital gains are likely to change before today’s buyers need ever worry about them, but for the moment non-EU owners of second homes could be on the hook for taxes of over 50% on capital gains if they sell. Continue reading “Capital gains tax increased on second home sales in France” »
A buyers market this spring, but a stronger second half predicted. MeilleursAgents.com, the notaires of Paris, and an article in Direct Matin yesterday, all have come out with their assessments of what transpired in the Paris real estate market during 2012 and what is predicted for 2013. The market was relatively frozen during the fall of 2012 as buyers hoped for falling prices and sellers hoped to maintain the record pricing levels achieved at the end of 2011. Since the beginning of the new year, however, the market seems more fluid and prices are decreasing somewhat. This increased flexibility is expected to yield higher sales volumes and a stronger market later this year.
Continue reading “Paris real estate market outlook for 2013” »
French mortgage rates are starting to spell good news for borrowers, dropping to 3.31% in November. We could see a new record low if this trend continues.
Continue reading “French Mortgage rates fall to new low of 3.31%” »
French President, Hollande, has apparently ordered all French shops, offices and public buildings to extinguish their nightlights between 1 a.m. and 7 a.m. as of July 2013, causing businesses dependent on tourists to wonder if the city is being penny-wise and pound-foolish with these cost cutting measures. Continue reading “Hollande budget cuts: Will the city of lights go dark?” »
Paris Property Group was featured in the December issue of Le Style magazine. Find out who’s buying, where they’re buying and why… Continue reading “Paris Property Group explains who is buying in Paris, and why, in the Winter issue of Le Style Magazine” »
Question: A client in process of buying a place in Paris just asked us to update him on the current status of capital gains tax in France. Miranda says preparation can be key to minimizing tax. Continue reading “Ask Miranda: Capital gains tax for non-resident second home owners in France – what’s the latest?” »
Parisian homebuyers will be pleased to know their purchasing power is on the rise. The results of a study show that buyers are able to afford larger properties for the price in Paris and its inner suburbs, as well as in Lille, Lyon and Bordeaux. The size of property a Parisian household can acquire with €1,000 per month on a 20-year term has risen to 26.4 m2, a 4.6% increase from the beginning of the year. Continue reading “Real Estate Purchasing Power Improves in Paris” »
Imagine descending into a labyrinth underneath Paris via a manhole cover just next to the Arc de Triomphe, in the dead of night, to meet up with your buddies to dance, participate in a theatre production, or finish a mural that has been months in the making…That’s the secret life of the Parisian underground societies. It’s a world most never get to see.
One of our most sought-after fractional ownership properties located in the heart of the Marais now has one last share available. The 800 square foot (75 m2) apartment consists of two bedrooms, a gorgeous dine-in kitchen, beautiful interior décor, and most importantly- a sunny terrace in the back overlooking green space. A rare gem in Paris.
Continue reading “Paris fractional ownership property for sale in the Marais” »
Jen Angotti, a licensed Virginia real estate agent, interviewed PPG founder Miranda Bothe about the ins and outs of investing in Paris real estate. This post was featured on her blog Concrete Jungle DC.
Continue reading “Buying an apartment in Paris, an agent’s perspective” »
The Council of Notaires releases its 2013 housing price projections and the UMP political party has some ideas on how Paris should spend the increased revenues generated from property transfer taxes. Continue reading “Paris real estate sales: revenues up and prices stable; metro project may benefit” »
Paris is known for its Haussmannian style apartment buildings, classic crown moldings and generally small living quarters. In the next year, this perception may change, as Paris sees the completion of over 30 brand new real estate developments. From total building refurbishments, to demolition and modern apartment construction, we have compiled the crème de la crème when it comes to new real estate developments in Paris.
Continue reading “Paris real estate development projects 2013” »
Paris is presently at a crossroads that, if unchecked, will ripple through the city for years to come with detrimental effect, says Leonard Pitt. High-rise projects are planned for the 13th, 15th and 17th arrondissements, as well as La Defense, and he is committed to stopping this from happening.
Continue reading “Opinion: No skyscrapers on the periphery of Paris!” »
What could be better than living on a boat? What about living on a boat in Paris? This gorgeous, 220m2 houseboat or péniche offers the opportunity to watch life go by on the Seine river from your own terrace. Continue reading “Unique Paris real estate: Live on the Seine in your own péniche” »
With plans to build the Hermitage Plaza towers in Paris’ La Défense business district, Paris will soon trump London as home to Europe’s tallest building. Each of the two skyscrapers, towering in at 320-meters-tall, was designed by Continue reading “Paris plans Europe’s tallest skyscrapers in La Défense” »
Ever wonder how top designers can make a space feel wonderful with just a few touches here and there? Luckily for us, internationally known interior designer Penny Drue Baird shares with us her tips for simple ways to revive your living space. These tips are the perfect way to make an old space feel new, no matter where in the world you live.
Continue reading “Give your Paris apartment a make-over with 10 fresh ideas from Penny Drue Baird” »
According to a new report by real estate advisor Savills, foreign investors were responsible for 40% of real estate investment during the first 3 quarters of this year, up from 30% in the same period of last year. While Middle Eastern funds were dominant with 15% of all transactions, investment from Chinese, Swiss, Swedish and Dutch investors also grew strongly during the period. In fact, Germans were the only ones pulling back from France, having made 8.5% of the investment in the first 3 quarters of 2011 they accounted for only 3% this year.
Located not far from the Bois de Boulogne and Jardin de Ranelagh in Paris’ 16th arrondissement, this one bedroom Paris apartment boasts a very rare 90m2 terrace and beautiful sunlit rooms. The 88m2 apartment is in a modern building, and is close to many of the neighborhood’s charming shops and markets.
Continue reading “Luxury apartment with incredible terrace for sale in Paris’ 16th arrondissement” »
Question: I own an apartment in Paris. I am a US citizen. I want to become a permanent resident in France. Once I achieve residency, if I sell my apartment to purchase another apartment (bigger), do I pay capital gains tax? Is there a minimum time for the residency requirement?
Over the last three centuries, this private mansion tucked away on Paris’ left bank has been the home of aristocrats, royals, and playwrights alike – and has been most recently owned by Cole Porter. Since his death in 1997, Cole Porter’s family has decided to sell the 10-bed, 6-bath home in Paris (766 m2 / 8245 sq ft) for €40M.
Continue reading “Paris Luxury Property: Cole Porter’s private Parisian home for sale” »
Is there any chance that if we stall on selling till 2013 that we can pay a reduced rate on capital gains tax? We have owned the property since 2008 and have spent a lot renovating it, but we do have an offer on the table now?
The average price of existing homes in Paris reached a record €8,440 per square meter between June and August 2012(+1.2% in three months; +1.7% over one year). The figures were Continue reading “Paris Real Estate Prices: Paris sets a new record” »
The owners of this fabulous apartment in Paris looked for two long years, living full time in Paris, before landing this apartment in an outstanding historic building dating from the 17th century. Originally, all the rooms opened one into another through connecting doors aligned near the windows, with no hallways, the way buildings of that period were designed.
Continue reading “Luxury Paris apartment for sale in Saint Germain des Pres (6th arrondissement)” »
On the garden level (up 3 steps) of a beautiful 1900 building, this classic family apartment is flawless. The building is enhanced by impeccable common areas maintained by a concierge. Continue reading “Paris luxury apartment for sale: Rue Desaix, 75015” »
We often get requests for Paris hotel recommendations, particularly from clients coming to Paris on their real estate shopping trip. In an article last year, our friend and Paris blogger Heather Stimmler-Hall scouted out her picks for 10 of the best boutique hotels on the Left Bank – that won’t break the bank. To round out her list, we add our personal choice of the best boutique hotel in all of Paris (river bank and piggy bank aside).
Continue reading “10 (+1) of the best boutique hotels in Paris” »
Sales volume – meaning the number of real estate transactions – are down 20% in 2012 as compared with 2011. Although the best properties still sell quickly and at or near asking price, it has meant that Paris real estate buyers are getting some breathing room to separate the wheat from the chafe. “The market is moving at two speeds: prices for perfect well-located apartments remain stable, while those with undesirable features have lost 5 to 10%,” explains Jean-François of Milin Orpi of Felix Faure. Here is a closer look, arrondissement by arrondissement, at real estate prices in Paris France.
Continue reading “Real estate prices in Paris France: An overview by arrondissement” »
In 2011, the most recent year with statistics available, just over half of the apartments sold in Paris were bought by unmarried individuals. A quarter of the sales went to Continue reading “Paris Real Estate: Who is buying?” »
The French press is abuzz with stories about 1+ million euro properties hitting the Paris real estate market in recent weeks as a result of looming tax-hikes. What does this mean for the non-resident Paris lover ready to invest in a Paris pied-a-terre? Could it be a short-term buying opportunity? Paris Property Group takes a look at the silver lining for foreign buyers.
Continue reading “Taxes in France: Changes benefit foreign buyers, cause French to flee” »
The French property market has been a good investment for many foreign buyers over the last year with prices of flats and houses rising in the most sought after areas. Prices in the Paris region have risen by between 3.8% and 6.2% for houses and flats, according to data release by government controlled Notaires de France. Continue reading “French real estate luring foreign buyers” »
Take a virtual walk through our latest property listing, a luxury three bedroom apartment in the lively Marais neighborhood. Continue reading “Luxury Property for Sale in Paris: Rue de Bretagne, Paris 75003” »
Sales of Existing (Ancien) Apartments
According to the most recent sales data available, from May to July 2012, 36,000 apartments were sold in Ile de France, marking a 21 to 22% decine compared to transactions concluded in the same time period in the two previous years. Continue reading “Paris Real Estate Prices: Official Paris Notaires Market Update 2nd Q 2012” »
In response to the stark reduction in the volume of real estate sales nationwide and the resulting loss in capital gains tax revenue, President Hollande proposed to reduce the capital gains tax on real estate sales – for a limited time. Continue reading “Selling real estate in Paris? 20% capital gains tax reduction proposed by French government for 2013” »
Following an in-depth look at housing market behavior across Europe in recent years, the research arm of Savills Real Estate found that only Italy might be in for future drops in real estate prices. Continue reading “European real estate prices not inflated, Savills report concludes” »
| According to an annual study produced by the international mortgage specialist, Conti, France remains the most popular destination for international property investment among British buyers. Continue reading “France most popular real estate investment for UK buyers” » |
This is an elegant and charming 3 bedroom apartment (132,18 m² living space) with balconies and open views over the gorgeous park “Square du Temple” located in the Marais. Situated on the 1st floor (with elevator) of a well kept and prestigious Haussmannian building, the property has a lot of character. It features Continue reading “Paris Apartment for Sale: Rue de Bretagne, 75003” »
The 26th Biennale des Antiquaires in happening now in Paris, with 122 galleries displaying some of the world’s most exquisite fine jewelry, art, and antiques. If you’re in the market for a new slew of diamonds, the perfect piece to round out your art collection, or some period interior decor items to fill your new Parisian apartment, the Biennale is the place to be this week.
The Beaux Arts architecture of the Grand Palais, with its high-arched glass ceilings, is the perfect setting to highlight the art and jewelry exhibited within. This year’s set was designed by Karl Lagerfeld, with the intent of creating a miniature Paris inside the impressive Beaux Art exhibition hall. Try visiting on a sunny day so you can appreciate the full beauty of the locale, the art, and of course, the diamonds. Continue reading “Biennale des Antiquaires Paris: Designed by Karl Lagerfeld for the Grand Palais” »
“There will be a new record in Paris,” according to Thierry Delesalle, a spokesman for the notaries of Paris, during a recent press conference, adding that the leading indicators point to higher prices in September and October. The pricing declines seen in the fourth quarter 2011 and first quarter of 2012 seem to have fizzled. Overall, real estate prices in Paris now stand at 2.5% over last year, but the gains vary widely by neighborhood.
Continue reading “Paris real estate prices expected to set record highs” »
Real estate prices are rising in Paris, though property sales throughout France have slowed in the second quarter of 2012. In contrast to Paris, prices are generally slightly lower elsewhere in France.
Continue reading “Paris real estate prices rise, defying predictions” »
Last Thursday, the Chambre des Notaires in Paris held a special meeting open to the public to discuss the recent changes to the wealth and capital gains tax laws implemented by President Hollande. Our managing partner, Kerstin Bachmann, was there in person to take notes. Continue reading “Capital gains and wealth tax in France: Paris notaires give special update” »
Over the last months, the French media has been reveling in gloomy news about the French economy and more specifically about expected trends in the real estate market. But their predictions of a downturn ignore some fundamental facts. It’s a great time to invest in Paris real estate and here’s why: Continue reading “7 Reasons why Paris real estate is a great investment” »
This private mansion has fallen under controversy in the last five years as its new owner, a brother of the Emir of Qatar, has embarked upon restoring it. Located on the tip of Île Saint-Louis, in the 4th arrondissement, the Hotel Lambert, designed by architect Louis Le Vau was originally built between 1640 and 1644 for the financier Jean-Baptiste Lambert
It’s that time of the year again, the rentrée. Each September marks a new work season, highlighted by predictions of the financial and real estate markets for the coming year. Continue reading “Mortgage rates to remain low in France, good time for borrowers” »
With the publication last Friday of the Amended Finance Law (Loi de Finance Rectificative 2012), the French government instituted an “extraordinary wealth contribution” retroactively effective as of January 1, 2012. Continue reading “Changes to the wealth tax laws make structure and timing of property purchase key to good value” »
The August lull that sends most Parisians running to the beaches for vacation did not slow the French government from passing important “rectifying” changes in the taxation of real estate gains, rental income and net wealth. Continue reading “End of exemption from social charges on real estate income of France’s non-resident property owners” »
Rental income and sales of investment property or second homes by French residents have always been subject to social security contributions (payroll taxes). The previous rate of 13.5% was raised to to 15.5% on July 1st of this year. Unlike in the United States, gains realized from the sale of a primary residence are not taxed at all. Continue reading “Capital Gains Tax laws in France: substantial hikes to affect non-resident owners” »
Dolly Daou refinds Paris in her new Melbourne home.
Despite living in Australia most of my life, my francophone origins have meant that Paris has always held a special place for me. In 2007, finally catching my first glimpse of Paris from the air, I thought to myself, “this is home”. Continue reading “Finding traces of Paris in Melbourne, Australia” »
Mayor Delanoë continues to press his position that rentals of under one year (9 months to students) are unlawful unless the apartment in question has “commercial”, rather than “residential”, status. Like minds disagree as to whether this position is correct and sustainable in the courts, but either way there are some things that can be done to avoid problems.
Continue reading “Buying smart: navigating the debate on short-term rental apartments in Paris” »
There are quite a few changes coming to the banks of the Seine river in upcoming years, including one that will transform the highway along the right and left banks into pedestrian walkways. Continue reading “Paris giving the Seine back to the people with pedestrian walkways” »
President Hollande’s proposed income and wealth tax changes have caused at least some wealthy French residents to start looking for greener pastures with less burdensome taxes.
Question: Why can’t I just search for an apartment to buy in Paris on my own? Is it necessary to use an agent? Continue reading “Ask Miranda: Can’t I search for an apartment to buy in Paris on my own? Do I need an agent?” »
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Paris and New York are often compared for their sought-after real estate and interesting market characteristics. But there are some startling differences as well. Navigating the real estate market as a foreign buyer can be stressful if you don’t know the ropes. Continue reading “Paris vs. New York: The Sale of Two Cities” »
History may be repeating itself in the Paris real estate market today. At the peak of the market turmoil in 2008-2009, following the global credit crunch, sellers and buyers took a wait-and-see attitude, hoping that prices would see a marked decline. That didn’t happen, Continue reading “Paris Real Estate Market May See History Repeat Itself” »
PPG has an expansive network of real estate agents around the world, and is always plugged-into the latest news and updates from other markets. With today’s global economy, knowing how other markets are faring is important and insightful. Continue reading “Agent Profile: Julia Hoagland of Brown Harris Stevens talks about the New York real estate market” »
Bon Appetit Magazine featured an online Paris guide series back in May, and we love their suggestions for the best tables to snag on your next trip to Paris. They sat down with the food critics/bloggers behind Le Fooding and got their inside scoop on “where the cool kids are eating“, drinking, and taking it à emporter.
Paris Property Group has launched an online video series that shares insider information on how to find and buy the best property in Paris. The video series, featuring President and Founder, Miranda Bothe, is titled after the popular section of our blog “Ask Miranda.” In each video, Miranda answers one of our client’s questions, dispels a myth, or explains a nuance of the Paris real estate industry. These tips and expert advice will benefit anyone looking to buy or sell property in Paris, France. Continue reading “New “Ask Miranda” video series on YouTube explains how to buy an apartment in Paris” »
Whether you happen to be visiting Paris on the 4th of July, or an American ex-pat who has settled in the City of Lights, there are plenty of ways to celebrate American Independence Day when you’re not on American soil. Continue reading “Happy Independence Day! Where to Celebrate the 4th of July in Paris, France” »
Each summer, in the golden glow of the early evening light, thousands of people emerge from their apartments, dressed all in white, and head to a secret location for the picnic of all picnics. Continue reading “The Super Chic, Super Secret Dîner en Blanc Tomorrow” »
Your buyer’s agent can mean the difference between you finding and successfully negotiating the purchase of your new pied-a-terre or you looking endlessly, but never landing that “perfect place”. Foreign real estate markets can be a scary place: different laws, potentially unscrupulous sellers, binding transactions taking place in another language. But avoiding these seven mistakes can help you have a strong, trusting relationship with your agent that will make navigating the process smooth and easy. Here’s how you can keep your relationship with your agent positive and productive. Continue reading “Common Mistakes When Buying Homes For Sale in Paris” »
Question: Have there been any recent changes or are any coming to the “3 percent tax”, as applied to an SCI, either with regard to the rules or the forms that must be filed each year? Continue reading “Ask Miranda: Have there been any changes to the “3% Tax” on an SCI?” »
Question: Hi Miranda, 1) Another American I know has an organization that helps American’s find apartments for a “finder’s fee” of 2.5 %, saying she is not a real estate agent. How do you differ? Continue reading “Ask Miranda: Finders Fees and Licensed Real Estate Agents, What’s the Difference?” »
Question: From the point of view of US IRS reporting, what kind of “Company” is an SCI? A Partnership? A Corporation? OR? Continue reading “Ask Miranda: What kind of corporation is an SCI?” »
Every summer in Paris, as soon as the weather turns nice after a harsh winter, terraces are full of patrons sipping on rosé wine, and parks are full of picnics. Here’s our round up of the events beyond the cafés that you should be sure not to miss if you’re in the City of Lights this summer. Continue reading “The PPG Guide to Events & Exhibitions in Paris this June” »
Ernst & Young released a study this month surveying a significant grouping of active French real estate investors. According to the report, 77% of investors surveyed believe that France will be an attractive investment market in 2012. Continue reading “86% of Investors Believe Residential Real Estate Prices in France Will Increase or Remain Stable” »
One hot topic following the election of President François Hollande is his plan to impose rent controls on French apartments. Continue reading “Rent Control: What’s the future of rent prices in Paris?” »
The last ten years have seen tremendous market growth in Paris, both in commercial and residential real estate. At the nadir of the market turmoil in 2008-2009, the greatest impact on Paris real estate Continue reading “Outlook for Commercial Real Estate in Paris Looks Strong Through 2012” »
Located on the first floor (American 2nd) of a charming 18th century building in Marais style, this 807 square foot 2-bedroom, 2-bath apartment features a private terrace on a secluded courtyard. Nestled in the heart of the historic Marais, just a stone’s throw from the magnificent Place de Vosges, the apartment at rue Malher is the perfect spot for those seeking a relaxing and luxurious home from which to explore Paris. This charming apartment features a beautiful 100 square foot private terrace overlooking a secluded courtyard. Continue reading “Virtual Visit: Rue Malher Fractional Ownership Property” »
Paris is the sixth-most-favoured market overall, and its retail, office, and hotel sectors are highly rated by investors looking for acquisitions. Investors reported that Paris and London offered the best opportunities in 2012. “The market has scale, liquidity, a reasonably protected legal framework, and a diverse range of tenants.” Continue reading “Paris Ranked Best in 2012 Urban Land Institute Investor Survey for Real Estate Investment in Europe” »
Purchase taxes on Paris apartments often give buyers pause; but how does Paris really stack up to other major real estate markets?
Continue reading “How Do Paris Real Estate Fees and Taxes Compare to Other Major Markets?” »
A residential development on the banks of the Seine offers Marais lovers a change from historical apartments.
With François Hollande as President, the first Socialist President elected since Mitterand, many are wondering how this will affect property values and taxes, as well as what other changes might be in store.
Continue reading “What Can the Paris Real Estate Market Expect With Hollande as President?” »
Take a look at these interesting numbers that break down from which countries international buyers are coming: Continue reading “Where are international property buyers coming from?” »
The higher rate of capital gains tax imposed on those who live outside of Europe’s borders is coming under important legal scrutiny. Non-resident owners of French property are liable for capital gains tax in France upon sale. They may also be liable in their home country, but in most cases bilateral tax treaties will France provide relief for the tax paid in France.
Question: Is there a way to sell a second home property in France and “roll” the gain into another second home property without paying or paying a small capital gains tax? Continue reading “Ask Miranda: Capital Gains Rollover” »
The eurozone crisis isn’t fazing international property buyers in Paris. In fact, in the second half of 2011, the Paris real estate market posted the highest sales numbers of all European countries, according to a report by CBRE.
Continue reading “Demand for High End Property In Paris Continues to Climb” »
Paris real estate prices went up 1% in March after several months slightly down according to MeilleursAgents.com. Prices are up in much of the area surrounding Paris as well. Continue reading “Paris Real Estate Prices Up 1% in March After a Slight Decline” »
Answer: I had to go to Wikipedia for this one because I didn’t know. After all things were not in good shape after the revolution! Wikipedia says Napoleon III, and engineers such as Michel Chevalier or entrepreneurs like the Pereire brothers, believed that Continue reading “Ask Miranda: Haussmann’s Paris” »
Wealth Tax Reform
Beginning in 2012, if your net wealth in France exceeds €1.3m, the total value is subject to wealth tax. Previously €800K could be exempted, but not anymore. If your property is valued at less than €1.3M no wealth tax reporting is required. The good news is that Continue reading “2012 Wealth Tax Update” »
A number of factors are exerting downward pressure on the Paris real estate market, including tax reform, rising interest rates and the Euro zone crisis. But, global factors, such as an influx of buyers from Continue reading “Market Update: What’s in Store for 2012 and Beyond?” »
Answer: Hi, please let me know how to reach you. We often find properties for clients who have been renting short term, but decide they would like to own their own pied-a-terre and rent through the agency they have built that relationship with. We understand what makes a great rental property. I would be happy to talk with you about how we can work together. You can reach me at Contact@parispropertygroup.com.
For more questions regarding Paris real estate check out our FAQ.
Here’s a fun map from the writers at My Little Paris with some of their picks for Paris’ best hidden restaurants, bars, and shops.
There comes a time in every love affair when you look beyond the charm and the beautiful face and learn whether the real substance is there. With Paris there is always more to learn. Paris is a collection of villages, each with it’s own charm, personality and history. Once you’ve discovered this Paris you’ll never want to go back Continue reading “Paris: Beyond the Boulevards” »
Part of the process of buying an apartment in Paris is knowing that once you’ve purchased it, there will most always be some renovating, touching up, and personalizing to do before it really feels like home. Continue reading “Betsy and Alon Kasha turn their Parisian Pied-à-Terre into a business” »
We’re pretty familiar with the HGTV crew through our past appearances on their TV show, House Hunters International. But our most recent episode, where we help the founder of our sister company find a luxurious apartment in Paris is one of our favorite episodes of all time. Continue reading “PPG on HGTV- House Hunters International” »
The economic crisis in Europe seems not to have deterred foreign buyers from investing in Paris real estate.
According to Euronews, French real estate agents are reporting sales of luxury Continue reading “Foreign buyers keeping luxury real estate in Paris on the rise” »
Paris has been named one of the best performing cities for real estate investment following it’s impressive price growth in 2011. Continue reading “Paris real estate posts exceptional gains in the second half of 2011” »
A true fairy tale- one of the world’s most beautiful princesses is selling her Mediterranean villa for a cool €21 Million, or $28 Million. Continue reading “Dream French Riviera Estate for Sale $28 Million” »
According to Jones Lang LaSalle in its 2011 Global Capital Flows report, there was US$411 billion of direct commercial investment globally in 2011, a 28% increase over 2010. Continue reading “$14 billion of Paris real estate sold in 2011; real estate purchase volumes up worldwide” »
PPG is now on Pinterest! Follow our pinboards full of beautiful pictures of Paris monuments, sights, vintage pictures, and more. What’s not to love about the beauty of Paris?
http://pinterest.com/thisparislife/
Barracks, land, old prisons, offices, mansions, houses and apartments: over the next 3 years, the French government is planning the sale of nearly 2000 properties in Paris and throughout France, for an expected 2.2 billion euros in revenue. Continue reading “French government selling more real estate in Paris and around the country” »
The New York Times featured a telling story last summer of a young couple moving from London to Paris, bringing their Paris real estate dream to life. As property prices in Paris have soared in recent years, bolder buyers are moving away further and further away from Continue reading “Factory Turned Chic Parisian Apartment” »
In May of 2011, the President of PPG contributed a post to the lovely HiP Paris Blog…it tugs on the heart strings of making your real estate dreams in Paris come true. Have a read: Continue reading “Making Your Real Estate Dream Come True: by Miranda Bothe” »
When dealing with multiple currencies, setting up a mortgage safeguard to hedge against currency fluctuations is an important part of any smart investment strategy. Working through mainstream banks to do that can be time consuming and inconvenient. Continue reading “Foreign Currencies & Mortgages” »
Guide to French Mortgages
Eligibility & criteria
All of the mortgages sourced by French Mortgage Broker International Private Finance are in Euros and secured against French residential property. French mortgages are full status and therefore proof of income and outgoings will be required to submit an application to a lender.
The maximum loan to value available is Continue reading “Guide to French Mortgages” »
Despite the hard times that have faced France and the European economy in the last year, real estate in the French capital is still providing a safe and sustainable investment. Prices in Paris rose a historic 2.7% in the last quarter of 2011, making Paris reputably some of the most expensive ‘bricks & mortar’ in the world. Continue reading “Which neighborhoods are luring foreign buyers to Paris?” »
Paris, France, is an unusually coherent architectural creature. Paris’ modern buildings have developed gradually out of earlier styles; palaces and mansions have survived by transforming into apartments and shops, and most streets harbor a range of buildings from various centuries. Our Paris guide traces Continue reading “Paris Buildings: A Brief History” »
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Bonjour! Let’s take a stroll through central Paris. We will follow the Seine River as it winds it way through the capital city for more than 14 kilometers, and remember some of the most distinctive of the 33 bridges that cross it. Continue reading “The Bridges of Paris” »
Property taxes are everywhere in the world, but in France, there are two particular types you need to know about. First, the taxe foncière, a property tax for which the owner is liable, and a taxe d’habitation, for which Continue reading “Property Tax in Paris: Not as expensive as you thought” »
A poll on Figaro Immobilier yesterday asked readers to cast their vote on whether or not the Mairie de Paris (Paris City Hall) is right to want to limit the number of furnished apartment rentals in Paris. This topic is hot in the press right at the moment, Continue reading “Hot Topic: Does the Mairie of Paris have the right to limit apartment rentals?” »
A study released by The Move Channel shows that the majority of French property searches online are focused on the Southern region of Provence, the Alps, and Côte d’Azur. This may come as a surprise to most, but the region has many beautiful features, perfect for a vacation home. Continue reading “Southern France and Paris as Property Investments” »
Bedrooms: 2
Bathrooms: 3
Floor: 4th floor (with elevator)
Size: 140 m2 (1507 square feet)
Price: € 1,895,000
A stunning, 1507 square foot, two bedroom, three bathroom apartment with a view of the Eiffel Tower in Paris’ elegant 7th arrondissement. Continue reading “Paris apartment for sale: Rue de Grenelle 75007” »
IKEA built a dwelling of 54m2 inside the Auber station of the Paris metro. Continue reading “IKEA builds a home in the Paris metro” »
A historic building, part of the gorgeous Palais Royal in Paris’ 1st Arrondissement, that dates back to the times of Cardinal Richelieu in 1629, was recently renovated by New Yorker Amanda Sykes. After convincing the French bank who has owned the building for years and years that she could rent the apartment and oversee the renovations, Sykes put her design skills to work. Continue reading “Restoration of a Historic Paris Apartment” »
High end real estate has taken off after the financial crisis of 2010 in cities like Paris, London, and New York. Prices rose 20% in Paris between January 2010 and January 2011, according to Nestoria. But how is this so when the economic outlook is so dark? The answer is massive foreign investment.
Continue reading “Paris: a sure investment for a diverse, international clientele” »
Your apartment in Paris is a big investment. Focusing on a few key details can help maximize your return when it’s time to sell. Setting a high, but attainable price is a good first step that will help your property to go quickly with a flurry of bidders. Taking steps to minimize your capital gains tax should be another important focus. Proper preparation can help you navigate the process from a position of strength.
Continue reading “Tips for selling your apartment in Paris” »
Have an extra $50 million to spend? Well, even if you don’t, it’s fun to imagine buying your own private mansion in one of Paris’ premiere neighborhoods. This historic 10,700 square foot, 10 bedroom, 10 bathroom private mansion located near Place des Victoires has been renovated into separate luxury apartments while preserving the architectural details, including imposing fireplaces, wood and plasterwork, some dating back hundreds of years. Continue reading “What real estate $50 Million can get you in Paris” »
Recently we had a chance to catch up with Penny Drue Baird, author and interior designer extraordinaire. She enjoys working with clients on both sides of the Atlantic, with a particular love for Paris. We were glad to have a chance to sit down and speak with her. Continue reading “Snapshot: Catching up with Penny Drue Baird” »
An interesting look at who owns investment property that is rented out short term in France and who their renters are. Perhaps unsurprisingly over 80% of all short term rental apartments are owned by French, followed by Italian, American and Swiss owners.
The client, an attorney from the Philippines, hoped to find a pied-á-terre on a quiet street near the charm and bustle of the 6th arrondissement. Continue reading “Before & After: Rue du Près aux Clercs” »
A new law enacted July 2011 significantly alters existing tax and trust rules in France. The new law affects the wealth tax, gifts and inheritances and trusts beginning in 2012, and in some cases is applied retroactively. Tax will now be imposed on all wealth in France over Continue reading “Higher tax bills coming: New law closes loop holes on French wealth tax” »
Having the right information and choosing the right ownership structure can be key to maximizing the potential of your property investment. Continue reading “Maximize the potential of your property investment” »
These Australian clients (she’s a food writer and restaurant critic, he’s an engineer and businessman) were referred to us by another client. They wanted to find a 2-bedroom apartment in an eclectic, up and coming neighborhood that would have an authentic feel, away from the tourist zones. Continue reading “Before & After: rue des Martyrs” »
Clients from the Philippines, a lawyer and a businessman, sought a very rare combination: a 2 bedroom, 2 bath apartment with major Eiffel Tower views. Now a beautiful Paris vacation rental, the central hub of the apartment is the kitchen, the rest of the space Continue reading “Before & After: Avenue Rapp” »
“We love paris property group – You all were just wonderful! We were so extremely impressed with the efficiency and competence of everyone on your staff. It was a pleasure working with you, Kathryn and Jerome.”
Nikki B
Los Altos Hills, CA
Property owners who spend less than 184 days a year in France and do not pay income taxes in France are considered “non-resident.”
Non-resident owners are expected to: Continue reading “After I have settled into my apartment, what are my continuing obligations?” »
Prior to the signing of the final purchase agreement, the notaire will send the buyer a completion statement Continue reading “How is a real estate purchased completed in France? Do I need to be in France for the final signing?” »
Despite his threat to vigorously prosecute and end short-term rentals in Paris, to date Mayor Delanoë’s office has done little more than cause a scare. Capital magazine, a Paris-based monthly, interviews Jean-Marc Agnes, President of the Association of Professionals Holiday Rentals (APLM), to get the latest Continue reading “Paris Mayor Delanoë sets his sights on owners of multiple vacation properties” »
This Australian client wanted to find a 2-bedroom pied à terre in a period building with good bones. Continue reading “Before & After: rue Pigalle” »
The essential purchase process is divided into two stages. First, the purchase is formalized by a preliminary contract that may be prepared by a notaire – a promesse de vente - or by an estate agent or privately between the parties – a compromis de vente.
In either case, the seller is obligated to sell immediately upon signature, whereas Continue reading “What are the necessary steps for purchasing a property in France?” »
Agency fees are included in the advertised listing price for a property. Listing fees are ordinarily about 5%. The purchase can be structured Continue reading “Who pays the broker fees? Buyer or Seller?” »
Property purchase in France requires the seller to provide to the buyer the results of 6 required diagnostic examinations of the property: Continue reading “What should I know about property inspection in France?” »
In France, no capital gains tax is paid on the sale of a primary residence. However for second homeowners big changes are looming. Continue reading “Big capital gains tax changes in store for second home owners in France” »
The allure of living in a Paris pied-à-terre for a week or month, and paying much less than for a hotel room, has created strong demand for vacation rentals in Paris. But its growing popularity has raised the ire of hotels and residential property owners. Continue reading “Paris tries to keep apartments from being rented by visitors” »
One hundred years ago, a 19-year-old artist named Picasso settled into an atelier along the cobblestone streets of the 18th arrondissement in Paris. Today, Picasso’s first Montmartre workshop has been converted into an apartment and is now on the market for €1,500,000. Continue reading “Picasso’s first workshop for sale in Paris” »
Normally, property in France doesn’t come cheap. But thanks to judicial reforms, there are a number of small-town courthouses priced to sell. Continue reading “How you can own a piece of the French countryside” »
A flurry of articles in the French and international press (including the New York Times) created an outcry about a year ago about a crack-down by Mayor Delanoë’s office on short-term rentals of Paris apartments. Continue reading “Short term rentals in Paris: what’s the story?” »
You’d like to buy property in Paris, but you’re not sure whether it’s also the right investment property. For many buyers, particularly in the most coveted neighborhoods, short-term rentals provide great income to offset costs and expenses. It’s important to understand what the key components are that create lasting value. Continue reading “Is your Paris pied-à-terre also a great investment?” »
The assemblée générale de copropriété is the annual business meeting of the co-owners association in a building. The meeting is called by the building management company, or syndic, who also presides over the meeting. Continue reading “What is an assemblée générale de copropriété? ” »
There is no capital gains tax on the sale of a primary residence in France.
For a secondary residence owned either individually or through an SCI, the amount of capital gains owed at the time of sale is determined by Continue reading “How much capital gains tax will I have to pay when I sell my French property?” »
A compromis de vente is a mutual obligation of the buyer (to buy) and the seller (to sell). Literally translating as “a promise to sell,” the promesse de vente is a unilateral obligation to sell.
There are two substantial drawbacks to a compromis de vente: Continue reading “What is the difference between a compromis de vente and a promesse de vente?” »
Whether the parties sign a compromis de vente or a promesse de vente, the preliminary contract will always contain the following terms: Continue reading “Who is committed to what at the signing of the preliminary contract?” »
The buyer should normally expect to pay fees and taxes of about 6.5-7.5% of the purchase price. These break down roughly as follows: Continue reading “How much are Notaire fees on the purchase?” »
French banks will lend up to 85% of the assessed value of the property and renovations to most non-resident buyers. Continue reading “Is it possible for a non-resident buyer to finance real estate in Paris?” »
The notaire is a public official with legal training (but different from a lawyer) who prepares and registers official acts such as wills and property ownership transfers. Notaires enjoy a very privileged and highly respected position in French society. Continue reading “What is the role of the Notaire?” »
