PARIS -- Countries often develop their arrogance from their great cities; thanks to Paris, the French exhibit a sense of specialism about their special place on the planet.
The French authenticity is difficult to challenge -- the bread, the wine, the architecture and the fashion to name a few distinctions. However, the country is often just downright different.
Take the real estate market; it is a maze of varying processes and systems than can boggle the mind. On the other hand, the French real estate market offers consumer more choices.
Thursday, October 30, 2008
Sunday, October 19, 2008
French Business Confidence Plunges to 15-Year Low
Oct. 14 (Bloomberg) -- French manufacturing confidence slumped to the lowest in 15 years in September, adding to evidence the economy was already in a recession as the global financial crisis worsened.
The Bank of France's index of manufacturing confidence fell to 87 from 94 in August, the Paris-based central bank said today. The September reading is the lowest since the same month in 1993 and is below the 92 expected by economists, according to the median of 4 forecasts in a Bloomberg News survey. New orders dropped ``markedly'' last month, the Bank of France said.
``We're at the lowest since 1993 when France was in recession and that trend is visible in all of the euro-area countries,'' Jean-Christophe Caffet, an economist at Natixis in Paris said in an interview with Bloomberg Television. The euro region is in ``a lasting slowdown.''
The Bank of France's index of manufacturing confidence fell to 87 from 94 in August, the Paris-based central bank said today. The September reading is the lowest since the same month in 1993 and is below the 92 expected by economists, according to the median of 4 forecasts in a Bloomberg News survey. New orders dropped ``markedly'' last month, the Bank of France said.
``We're at the lowest since 1993 when France was in recession and that trend is visible in all of the euro-area countries,'' Jean-Christophe Caffet, an economist at Natixis in Paris said in an interview with Bloomberg Television. The euro region is in ``a lasting slowdown.''
Monday, October 13, 2008
French property prices to fall steeply
The property market in France is beginning to show signs of stress although it has not been exposed to the US sub-prime crisis in the same way that other European markets have.
The national association of real estate agents is now estimating that property prices will fall 7% to 8% this year and that by the end of 2009 the decline could be as much as 15%.
A number of studies also show declining prices. The number of transactions during the first half of 2008 was down 25% from the previous year.
The industry is also being hit by job losses and financial problems. According to credit-insurance group Euler Hermes, bankruptcies of real estate firms soared 28% during the first half of this year.
The national association of real estate agents is now estimating that property prices will fall 7% to 8% this year and that by the end of 2009 the decline could be as much as 15%.
A number of studies also show declining prices. The number of transactions during the first half of 2008 was down 25% from the previous year.
The industry is also being hit by job losses and financial problems. According to credit-insurance group Euler Hermes, bankruptcies of real estate firms soared 28% during the first half of this year.
Tuesday, October 7, 2008
Armenian Oligarches Active in France
During the past few years Armenian oligarches have transferred a significant portion of their capital from Armenia. Several of them have been captivated by the charms of France and many have purchased apartments and homes in Paris. Gagik Tzaroukyan has also bought real estate in the French capital. The largest transactions have been conducted by Hrayr Hakobyan and Parliament Deputy Tigran Arzakantsyan.
In October 2007 Mr. Hakobyan purchased the Châtenay chateau and its grape vineyards for 4.8 million Euros. The 40 hectare expanse once belonged to the well-know Gregoire family and includes the castle, vineyards and a vodka distillery.
In October 2007 Mr. Hakobyan purchased the Châtenay chateau and its grape vineyards for 4.8 million Euros. The 40 hectare expanse once belonged to the well-know Gregoire family and includes the castle, vineyards and a vodka distillery.
Subscribe to:
Posts (Atom)
