New consumer protection laws on real estate sales in Paris

One of the first laws adopted was the "Loi Carrez" passed in the mid-1990s which requires sellers to indicate the exact size of the property when the sales contract is signed. If it is subsequently revealed that the actual size is more than 5% smaller than that stated in the contract, the buyer is entitled to claim a price reduction of the same proportion within a year of the purchase being completed.

The so-called "Loi Bachelot du 30 juillet 2003 came into effect on 1st June 2006 which requires sellers and landlords of properties to deliver a certificate of "natural and technological hazards" ("les risques naturels et technologiques").

Information From: KHS Paris Real Estate Blog

HOUSING RIGHT IN EUROPE

Given the texts that have been ratified, the official positions, and the vote on the law that turned the right to housing justiciable (5 March 2007), who could doubt France’s commitment to guarantee the right to housing? However, the expectations of the right to housing persist and cover many situations: situations of occupation without legal protection, overcrowding, indecent lodgings unworthy of human habitation, people relegated to campgrounds, slums, lodgings in hotels and in group homes, people living in the street…

France has signed the major texts adopted within the framework of the United Nations, which closely link the protection of adequate housing to the notion of human dignity. At the European level, France recognizes that adequate housing is part of the respect to a private and normal family life

French Business Sentiment Falls to 13-Month Low

French business confidence fell in February to the lowest in 13 months month and spending on manufactured goods slumped last month as accelerating inflation and slowing growth gripped the European economy.

Insee, the Paris-based national statistics office, said today its index of sentiment was 107, the lowest since January 2007 and down from last month's revised 108. Spending dropped by 1.2 percent, the most since September 2006, Insee said in a separate report. Both were worse than economists expected.

La Perla Acquired by French Real Estate Firm

Up until now, Mandarine’s primary focus has been on residential, hotel and spa projects in Morocco and France. Fast-growing La Perla, which first made a name for itself on Spain’s Costa del Sol, currently has 14 residential projects under construction in France, Antigua, Spain, Panama and Vietnam. The company has another 19 projects in the planning stages, according to the press release announcing the deal.

France's Bouygues 2007 sales ahead of forecasts

The group, which owns France's third largest mobile operator, Bouygues Telecom, generated revenues of 29.6 billion euros ($43.11 billion) in the 12 months to Dec. 31, up from 26.4 billion euros in 2006 and ahead of its own forecast of 29.25 billion euros.

In the year, Bouygues Telecom sales rose 6 percent to 4.8 billion euros while the construction unit revenues rose 21 percent to 8.1 billion euros and real estate rose 29 percent to 2.01 billion euros.

The cheapest property in France – but for how long?

Property prices have, in fact, been rising steadily over the last 5 years, especially for attractive stone properties with demand far outstripping supply. However, at the moment barns in need of complete renovatio and with some land, cost around 50,000 Euros. Village houses with no outside space (ideal lock up and leave holiday homes) can be bought for an average price of 70,000 Euros whilst the sought after 3 bedroom renovated stone cottage with a garden in a convenient location will cost around 160,000 to 180,000 Euros. A tip here – if you manage to find one at this price, don’t think about it for too long as it seems nearly everyone wants one of these. Character properties with land will cost around 250,000 Euros plus.

FractionalParis.com Introduces Luxury Fractional Real Estate

With Parisian real estate prices climbing rapidly over the last several years, on average 10% per annum since 2000, many potential buyers have been priced out of the market or found a purchase difficult to justify given only visiting the city a few weeks a year. And with the rise in the Euro, many would-be buyers are frustrated to discover that even a significant investment won't buy a good property in a desirable location.FractionalParis.com

SeLoger.com: Full-Year 2007 Revenues Up 51.6%

SeLoger.com, France's leading player in online real estate services, generated consolidated revenues of EUR57.2m in 2007, up 51.6% relative to the 2006 figure of EUR37.7m.

In Paris, SeLoger.com's penetration rate was 73%, with 4,439 customers (a net year-on-year increase of 410) representing 5,614 branches. The average spend per customer in December 2007 was EUR373.