Paris Prices Continue Their Climb

According to the most recent figures published by the Notaires of Paris, prices for Parisian real estate continued their decade long upward trend, rising by 2.4% for the 2nd quarter of 2008.  On an annual basis, Paris real estate has appreciated 10.4%.  However, a portent of the future may be the finding that the volume of sales was down 15% in the 2nd quarter.  Overall, I think that these findings continue to support my belief that Parisian real estate will generally buck the prevailing trend of price depreciation felt elsewhere, particularly in the UK, Spain and the US markets.  To review the details, you can visit the Notaires website at http://www.paris.notaires.fr.

Paris Prices Continue to Climb

The Paris Notaires (http://www.paris.notaires.fr/) have issued their latest report on the state of the Parisian housing market, covering the period from May 2007 through May 2008.  In a nutshell, here are the findings:

1.  The volume of sales in Paris has decreased 20% in the last year.  I am sure that this is due both to the higher prices in general, as well as a reflection of softer economic conditions throughout France and the Eurozone.

2.  The average price of apartments in Paris increased 9.4% over the last year, continuing the steady appreciation of the last 10 years.

Here is the summary table posted by the Notaires:

Notaire Price Report - May 08

Chateau at Chantilly

 

One of the lesser known and certainly lesser frequented sites outside of Paris is the Domaine du Chantilly. While it is not the equal of the Chateau at Versailles, it’s splendor is quite fantastic, and you will not have to deal with hordes of people.  In fact, when we visited, there were fewer than 50 people viewing the entire chateau.

How to get there:  Take the RER from Gare du Nord.  The town of Chantilly is about 30 minutes by train, north of Paris.  From the town train station, you can either take an expensive taxi ride (6-8€) or a leisurely 15-20 minute walk to the castle.  Take the free guided tour of the apartments located within the castle, and you can download the audioguide from their website, http://www.chateaudechantilly.com.  You can also tour the magnificent gardens and the equally breathtaking Equestrian Center, the largest in the world, which was a virtual chateau dedicated solely to housing the Duke’s show horses.

Happy Saint Patrick’s Day!!

Hey!  I thought that Saint Patrick’s Day was March 17th?  Well, guess what?  It ain’t so for the year 2008.  Why?  Because the Catholic Church has a little known rule that during Holy Week (the 7 days leading up to Easter), no other saints can be honored.  Land of Begorrah!  No parades, no green beer, no shamrocks or crazy leprechauns in the Catholic world on the 17th this year.  So most folks, at least in predominately Catholic countries, will be celebrating today, or tomorrow, or whenever!

Renovation Update – Chez La Tour

We are halfway through Week 2 of our renovation of our newest fractional ownership apartment in Paris which we fondly call Chez La Tour.  At this stage, the kitchen has been completely removed, all of the tile and marble floors removed, as well the separating wall in the bedroom.  Following a run to the trash dump, we have removed at least a mile’s worth of piping that was run all across the walls of the apartment.  Some of the more classic radiateurs are being stored for the moment, and the rest are history.  We will be completely re-piping all of the domestic water and drain lines, discretely hiding them from view for a much cleaner look. High efficiency sleek low profile radiateurs will replace the existing units.

Tomorrow, Rich has promised updated photos of the apartment.  Our schedule is to meet with the marble installer and electrician on Friday, to lay out how everything will be done and installed.  Next week, framing will begin on the new walls.  Already, the apartment is feeling even bigger and more spacious than before.

A White Christmas

Christmas day arrived with a steady stream of snowflakes falling from the sky.  As the day progressed, so did the snow.  By mid-day, all of the pine trees were fully blanketed with a shimmering coat of snow, their branches bending just slightly under the weight.

This is what Christmas looks like, I thought, on all of those Christmas cards. 

By evening, it was still snowing.  I had shoveled the driveway 3 times, taking some small solace in the fact that our snow is actually bone dry and fluffy, and that I desperately needed the exercise. Everywhere, there was only the hushed stillness of nature, disturbed only by the wind blowing the snow from our roof. I had never thought of shoveling snow as a spiritual experience before.

It was a good day spent with Sue, sharing gifts, cooking a turkey for dinner, and just unwinding.

I hope that everyone had as good a  Christmas as we did!

Pending Price Increase – Jardin Saint-Paul

Our current fractional offering in the Marais, Jardin Saint-Paul, is nearing completion of renovation, which is on target for December 1st.  At that time, prices for the few remaining fractional shares will be increased to 92,000 euros per share. One of our current owners will actually be occupying the apartment starting that day. If you are not familiar with the project, I encourage you to visit our website at www.parishomeshares.net.

 If you have been thinking about joining us, don’t wait too much longer!  Here are a couple photos of the new look of the apartment.

  

The Rox Get Pulverized in Game 1

Ohhh, this was a hard game to watch, especially the first 5 innings.  Final score: 13-1.  Boston leads the Series 1-zip. 

I am the last person to be a baseball pundit, but one can only wonder what happened to the Rockies pitching finesse.  Was it their inexperience, or the 8 day layoff?  That is to take nothing away from the Red Sox performance.  Josh Beckett’s pitching was flawless through 7 innings, illustrating why he is the best pitcher in the Major Leagues this year.  And the Red Sox batting lineup proved formidable throughout the game, pummeling the Rockies pitching for extra base hit after hit.  The only good thing for the Rockies is that the lopsided score allowed some of the back bench players to actually get a chance to play in the World Series.

The good news is that even if the score was 100-1, it’s only Game One!!!  Tonight, we will see if the Rockies settle down and show the talent that brought them to the World Series.  GO ROCKIES!

Jardin Saint-Paul Owners Meeting

 

    Yesterday, Sue and I hosted the first annual Owners meeting for Jardin Saint-Paul, our fractional ownership apartment in the Marais.  The weather was spectacular; blue skies with bright sunshine all afternoon.  The owners came from both coasts of the US to attend, to meet each other, and to enjoy some fine food and wine together. We decided to hold the meeting outdoors, because it was so nice.

 The first part of our agenda was drawing for the months of use for each Owner, and everyone was eager with anticipation.  It went quite smoothly, and the climax was when I was able to hand out the keys for the apartment to each of the Owners.  Check out these smiling faces!  This is the part of my work that makes it all worthwhile!

As part of the meeting, we ratified our budget for the coming year, talked about the neighborhood in which the apartment was located, and shared our common experiences about Paris.  Everyone had a great time, and now we are all planning our next trip to Paris in our very own apartment!

World Series – Here We Come!

I normally do not follow baseball all that closely, but one would have to be from another planet not to get caught up in the Rockies fever.  Our town has gone crazy over their home team, the Colorado Rockies.  Perennially an “also ran” team, this year their performance has been absolutely stellar since the All-Star break.  What is not to like?  The team is wholesome, with no big egos dominating the scene, and their comeback makes even the most casual of fans sit up and take notice.

Not only am I rooting for the home team, but, like most, a chance for the David of baseball to slay Goliath.  GO ROCKIES!

Here is a nice recap by ESPN.

http://sports.espn.go.com/mlb/recap?gameId=271015127