French Budget Min: To Sell Over EUR600 Million Of Real Estate In 08
PARIS -(Dow Jones)- The French state wants to sell more than EUR600 million of real estate in 2008, French Budget Minister Eric Woerth said Wednesday.
"Last year we sold around EUR600 million of state-owned real estate. This year, I would like us to sell even more," Woerth said on French radio station France Inter.
Tuesday, April 15, 2008
Saturday, April 12, 2008
Marseille, France's Mediterranean grande dame, gets a facelift
France real estate - Marseille, France's oldest city, is emerging as its newest entrant to the luxury real estate market.
Only three hours from Paris by the fast TGV train, the city center still is in the process of renovation but it already has gleaming new boutiques, its own volume in the chic Louis Vuitton City Guide series, and a Michelin three-star restaurant, Le Petit Nice, whose third star was awarded this year.
"Marseille has changed. It has a new, more seductive identity and many people now want to come and live here," said Isabelle Viatte, who opened a Marseille office last autumn for Emile Garcin, one of the French real estate firms that deal exclusively in top of the line properties.
Only three hours from Paris by the fast TGV train, the city center still is in the process of renovation but it already has gleaming new boutiques, its own volume in the chic Louis Vuitton City Guide series, and a Michelin three-star restaurant, Le Petit Nice, whose third star was awarded this year.
"Marseille has changed. It has a new, more seductive identity and many people now want to come and live here," said Isabelle Viatte, who opened a Marseille office last autumn for Emile Garcin, one of the French real estate firms that deal exclusively in top of the line properties.
Wednesday, April 9, 2008
Paris office market seen holding up in 2008
LONDON, April 7 (Reuters) - The Paris office market is well placed this year to weather a global financial downturn, even though prime rents in the French capital have hit a ceiling, a report by CB Richard Ellis (CBG.N: Quote, Profile, Research) (CBRE) showed on Monday.
"To conclude, 2008 could closely resemble 2007," the CBRE report said, forecasting an average 3-5 percent rise in average Paris office rents over the course of the year.
The global property services firm said it expected the vacancy rate in Greater Paris to stay around 5 percent this year, indicating a market that was generally undersupplied.
"To conclude, 2008 could closely resemble 2007," the CBRE report said, forecasting an average 3-5 percent rise in average Paris office rents over the course of the year.
The global property services firm said it expected the vacancy rate in Greater Paris to stay around 5 percent this year, indicating a market that was generally undersupplied.
Wednesday, April 2, 2008
JEC in talks to buy property in France
The Fishman subsidiary completed the purchase of another seven properties in France.
Fishman Holdings subsidiary Jerusalem Economic Corp is in advanced talks to buy a property in Nantes, France, for €17.3 million in a buy and lease-back deal. The 15,244-square meter property is located on a 20-acre site. Annual rent is €1.52 million, giving a return on investment of 8.8%.
JEC is in talks with a financial institution for a non-recourse loan for 84% of the purchase price.
Fishman Holdings subsidiary Jerusalem Economic Corp is in advanced talks to buy a property in Nantes, France, for €17.3 million in a buy and lease-back deal. The 15,244-square meter property is located on a 20-acre site. Annual rent is €1.52 million, giving a return on investment of 8.8%.
JEC is in talks with a financial institution for a non-recourse loan for 84% of the purchase price.
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