550,000 Euros ($730,000)
This one-bedroom one-bath walkup apartment is set above a shop in the Arts et Métiers neighborhood of the Marais. It has floor-to-ceiling windows, rough limestone walls and exposed wood posts and beams. The 880-square-foot (82-square-meter) apartment occupies the entire second floor of a five-story building.
The sunny living room, which overlooks a quiet street, is laid with traditional hexagonal tiles made of terra cotta, called tomettes. The kitchen has modern wood cabinets, white ceramic tiles and space for a small dining table. Toward the back of the apartment, behind French doors, is a cozy bedroom with a walk-in closet and a window that overlooks the courtyard of the building next door.
Thursday, April 30, 2009
Wednesday, April 22, 2009
French weaknesses help to cushion recession
PARIS — France has avoided the property crash that has hit Spain, it has not suffered as much as export champion Germany and its consumers have not been crippled by the kind of debt that has tied British shoppers down.
But the very qualities that have shielded France from the worst of the crisis are likely to mean it will take longer to pick up once recovery sets in, underscoring the need for President Nicolas Sarkozy to push through structural reforms aimed at making the economy more dynamic.
“The French economy and, above all, the French consumer appear to be relatively resilient in the presence of shocks,” said Elga Bartsch, chief European economist at Morgan Stanley.
But the very qualities that have shielded France from the worst of the crisis are likely to mean it will take longer to pick up once recovery sets in, underscoring the need for President Nicolas Sarkozy to push through structural reforms aimed at making the economy more dynamic.
“The French economy and, above all, the French consumer appear to be relatively resilient in the presence of shocks,” said Elga Bartsch, chief European economist at Morgan Stanley.
Friday, April 17, 2009
French Property Market Update: A Moderate Price Reduction but no Risk of a Property Crash
The last market review published by the Fédération Nationale de l'Immobilier (FNAIM), which is the French National Federation of Real Estate Agents, confirmed the general trend with price reductions during the 1st quarter of 2009 but emphasise on the fact there is no risk of a property crash.
The last market review published by the Fédération Nationale de l'Immobilier (FNAIM), which is the French National Federation of Real Estate Agents, confirmed the general trend with price reductions during the 1st quarter of 2009 but emphasise on the fact there is no risk of a property crash.
According to an internal survey carried out by the FNAIM (260 estate agents participated to it), their turnover for the 1st quarter of 2009 is down by an average 30% compared to the 1st quarter of 2008. An article published in the French newspaper "Le Monde" (mentioning the FNAIM market report and a report from the French notaires) indicates that the notaires activity in 2008 decreased by 20% compared to the previous year. The whole resale market decreased by 17%, from 802,000 in 2007 to 667,000 in 2008. New build sales dropped by 37.6% (79,400 in 2008 against 127,300 in 2007).
The last market review published by the Fédération Nationale de l'Immobilier (FNAIM), which is the French National Federation of Real Estate Agents, confirmed the general trend with price reductions during the 1st quarter of 2009 but emphasise on the fact there is no risk of a property crash.
According to an internal survey carried out by the FNAIM (260 estate agents participated to it), their turnover for the 1st quarter of 2009 is down by an average 30% compared to the 1st quarter of 2008. An article published in the French newspaper "Le Monde" (mentioning the FNAIM market report and a report from the French notaires) indicates that the notaires activity in 2008 decreased by 20% compared to the previous year. The whole resale market decreased by 17%, from 802,000 in 2007 to 667,000 in 2008. New build sales dropped by 37.6% (79,400 in 2008 against 127,300 in 2007).
Monday, April 13, 2009
Bank of France posts record profit in 2008
PARIS, April 10 (Reuters) - The Bank of France posted a record net profit of 2.46 billion euros ($3.27 billion) in 2008 and handed a 1.845 billion euro dividend over to the state, the central bank said on Friday.
In its annual report, it also said it had sold 103 tonnes of gold during the year for 2 billion euros, taking it close to the upper limit of sales it had announced under the Central Bank Gold Agreement.
'The Bank of France results reached a historic level thanks to revenues from investments and control of operating costs,' the bank said in a statement.
The Bank of France also said it had taken a charge of 1.184 billion euros related to potential losses at other central banks in the euro system from holdings of structured products that became illiquid after the collapse of U.S. bank Lehman Brothers ( LEHMQ - news - people ) and Icelandic banks.
In its annual report, it also said it had sold 103 tonnes of gold during the year for 2 billion euros, taking it close to the upper limit of sales it had announced under the Central Bank Gold Agreement.
'The Bank of France results reached a historic level thanks to revenues from investments and control of operating costs,' the bank said in a statement.
The Bank of France also said it had taken a charge of 1.184 billion euros related to potential losses at other central banks in the euro system from holdings of structured products that became illiquid after the collapse of U.S. bank Lehman Brothers ( LEHMQ - news - people ) and Icelandic banks.
Saturday, April 11, 2009
French Residential Property Prices Down 9.8% In 1Q
PARIS -(Dow Jones)- Residential property prices in France were down 9.8% in the first quarter of 2009 from the same period a year earlier, real estate association FNAIM said Tuesday.
Home price data released by FNAIM excludes new properties.
FNAIM pointed out that the downward trend has experienced a slowdown in the first quarter, with a 1% drop of prices on quarter. Prices dropped 6.5% over the last three months of 2008, compared to the previous quarter, FNAIM also said.
"However price resistance should not overshadow the downward trend which began in 2008" due to the financial crisis and the worsening of economic conditions, FNAIM added.
The downward trend also shows a break from the stabilization trend observed between 2004 and 2008, FNAIM said.
FNAIM expects a 5% to 10% drop in prices for the full year of 2009 compared with 2008, which would lead existing home sale prices back to end-of-2004 levels.
Home price data released by FNAIM excludes new properties.
FNAIM pointed out that the downward trend has experienced a slowdown in the first quarter, with a 1% drop of prices on quarter. Prices dropped 6.5% over the last three months of 2008, compared to the previous quarter, FNAIM also said.
"However price resistance should not overshadow the downward trend which began in 2008" due to the financial crisis and the worsening of economic conditions, FNAIM added.
The downward trend also shows a break from the stabilization trend observed between 2004 and 2008, FNAIM said.
FNAIM expects a 5% to 10% drop in prices for the full year of 2009 compared with 2008, which would lead existing home sale prices back to end-of-2004 levels.
Friday, April 3, 2009
Find the Best Real Estate in Paris France
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Flat Hunter expert team has already assisted numerous satisfied clients from all over the world to find and buy real estate in Paris and has extensive experience in property search. Turning to Flat Hunter has a number of obvious advantages. You learn about the appropriate Paris apartments for sale first and visit them before other potential buyers do. You don’t have to perform an exhausting and very often fruitless search by yourself.
Flat Hunter expert team has already assisted numerous satisfied clients from all over the world to find and buy real estate in Paris and has extensive experience in property search. Turning to Flat Hunter has a number of obvious advantages. You learn about the appropriate Paris apartments for sale first and visit them before other potential buyers do. You don’t have to perform an exhausting and very often fruitless search by yourself.
Wednesday, April 1, 2009
Orco seeks court protection from creditors
Real estate company Orco Property Group has asked for court protection against creditors in Paris, the firm has said in a press release sent to CTK Thursday.
Orco spokeswoman Petra Zdenkova added that the court had given protection to the company. The measure is aimed at accelerating strategic and financial restructuring at the company.
Orco's shares are traded on the stock exchanges of Prague, Paris, Warsaw and Budapest.
Immediately after the release of the news, the Prague Stock Exchange (BCPP) suspended trading in Orco shares and bonds.
Orco said it was grappling with problems with planned sale of properties due to the situation on real estate markets. It also has problems with paying back loans that some of the group's members have.
Orco spokeswoman Petra Zdenkova added that the court had given protection to the company. The measure is aimed at accelerating strategic and financial restructuring at the company.
Orco's shares are traded on the stock exchanges of Prague, Paris, Warsaw and Budapest.
Immediately after the release of the news, the Prague Stock Exchange (BCPP) suspended trading in Orco shares and bonds.
Orco said it was grappling with problems with planned sale of properties due to the situation on real estate markets. It also has problems with paying back loans that some of the group's members have.
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