bonapartconsultingparis

Hipsters and Hamburgers - Café Charlot

Just as I was writing about the Marais yesterday, I didn't mention the "Haut" Marais. it's the area that falls officially outside Ye Olde Marais but that in recent years has sneaked into the classification (much to the delight of those who have owned homes there since way back then). The last few years have seen an explosion in galleries, independent boutiques and the likelihood of being run down by skinny young graphic designers on scooters. For a slice of life, Melissa Unger has written a great piece for I V Y paris......

Last weekend, rushing from République, in an effort to get to the Marché des Enfants Rouges before the 15 euro orchid plants were sold out, I cut across the Carreau du Temple.

Because I am cheaper than day old bread, this type of bargain incites me to take perilous risks, like running in high heels and venturing down unknown streets. Despite nearly falling twice and being more focused on horticulture than culture 'tout court’, I still managed to notice that there were a whole slew of new art galleries and trendy shops on the criss-cross of streets just north of the rue de Bretagne (rue Charlot, rue de Saintonge, rue de Poitou and all around the Carreau itself.)

Read on.....

Through Bonapart’s sister site, I V Y Paris our clients interested in the Arts and entertainment stay informed of culturally enriching events taking place around the city.

Is the Marais losing it's appeal?

The Guardian wrote today about the increasing Mall-isation of the Marais. "Paris's historic Jewish quarter, has fallen victim to the tourist onslaught and rocketing property prices." I was writing about this in September 2006 when the phenomenon was already well underway...........

"Plus the place is turning into a shopping mall. The worst I've seen is the new Lee store which has used the beautiful old facade of the building in a most heart rending manner to flog it's tawdry trousers."

Don't even think of going there on a Sunday for a quiet stroll, you'll be mown off the pavement.

That said, there are of course still charming pockets which you'll have all to yourself and it can't be beaten for being smack bang in the centre of town from where you can walk everywhere. Plus there are the hotel particuliers, the fun bars and Les Bain des Marais Hammam andit's good for spotting sexy young people of either sex. It's not all that bad.

Montmartre is moving!

A common problem with buildings in Montmartre is due to a curious phenomenon relating to carrieres (this means quarries).

The beautiful fin de siecle architecture scattered over the Butte and especially around Lamarck Caulincourt are on the hill where they originally got the stone for building Paris. The hill of Montmartre is just a thin veneer of rock over an underground quarry, a Swiss cheese of caverns and tunnels, and fortunes are spent pumping the caverns full of a mixture of concrete and clay. Initially the miners quarrymen left columns of stone to hold the whole thing up, but water has seeped in over the years, eroding away the columns, and surface subsidence has occurred.

Luxury and prestige - what Paris is best at!

People are always asking me if the prices are dropping or going to drop at the moment. Especially those sitting on their hands waiting for their chosen currency to improve or the usual French lament that there is going to be a big crash in the property market. Don't bet on it and if you are after something special (of course all of our clients are) you should know that we have not seen any drop in prices for exceptional products in good areas. They are always quick to sell and the prices are still going up. This also applies to smaller products with charm so hold out for something with the wow factor.

The international buyer is always active in Paris; Russians, Americans and those from the Middle East - and prices in the heart of Paris continue to rise between 5 and 10%. Prices for run-of-the-mill (or just plain ugly of which there are legion in Paris contrary to popular belief) properties have stagnated slightly in the second half of 2007 but good products in les beaux quartiers (1, 2, 3, 4, 5, 6, 7, 8, 16, South 17, Neuilly, Boulogne and Saint-Cloud) have continued to perform well.

Pink PQ

One trend that I can see will take a while to catch on in Paris, even trendy Paris. Portuguese paper products company Renova sells Renova Black, lauded as the first fashionable toilet paper. Price per roll is EUR 2.17. Renova Black is also available as Renova Red, Renova Orange, and Renova Green.

But not in Renova Grainy Pink. The preferred colour for toilet paper all over France.

n.b. - PQ, or papier cul - toilet paper in France.

Renovation of the Magasins généraux & La Villette

As you walk along the la Villette canal basin it is difficult to miss the two buildings that define its extremities.
The Magasins géneraux were built between 1845 and 1853 and stored grain and flour until a fire broke out.

In 2001 the Paris City Council set about their reconversion. The project should be finished in early 2008. The building on quai de Loire already houses a student residence with 165 rooms, 37 artists’ workshops, a restaurant and an exhibition space. Opposite, the exterior appearance of the building has been retained so as not to break the symmetry, and the reconstruction project is part of a High Quality Environmental (HQE) plan: use of renewable raw materials, highly-effective thermal insulation and sun protection standards, as well as a system to produce energy that associates solar captors and the recuperation of rainwater. This building will house an Express by Holiday Inn hotel, an accommodation centre for young people Christopher’s Inn, a car park and a restaurant.

The rehabilitation of the buildings is part of a wider project to develop and enhance the la Villette basin, and
includes notably the opening of MK2 cinemas, the restaurant 25°Est, the renovation of place de la Bataille-de-
Stalingrad, the reconversion of the rotonde de Ledoux, and the project for a marina. So, this once prosperous and subsequently run-down area is in the process of becoming an attractive and trendy place, for both residents and visitors.

A solution to the exchange rate penalty for Americans buying in Paris!

Bonapart's long-term mortgage partner, France Home Finance have informed us of a new bank product that solves the exchange rate penalty for Americans or Brits buying in Paris.

The buyer borrows 100% of the purchase price and the bank requires 25% of the loan amount to be placed in a portfolio as a bond (the client can’t withdraw the funds while the mortgage is outstanding but keeps any gains on investment generated). If the buyer wishes to finance the notaire fees as well, the deposit needs to be 33% of the loan amount.

Paris' new architecture museum

Beside the Louvre Pyramid and the Centre Pompidou (to name a few of the few), this labyrinth of narrow streets doesn't leave much room for new architectural projects. You may find your fix however, at the Cité de l'Architecture et du Patrimoine, also known as the Cité Chaillot, a newly opened museum in Paris displaying a variety of exhibitions on contemporary architecture -- both French and foreign -- including different approaches to town planning. You can also go for a virtual tour to discover the museum's different galleries. Also, in efforts to encourage thought on the matter, the museum regularly organizes conferences and debates.
Upcoming: a debate in context of the Prix de l’Union Européenne pour l’architecture contemporaine Mies van der Rohe - Prix 2007

New Eurostar service boosts commuter interest in French property, says report

I think the Eurostar factor will fuel British spending and those spending time in Paris; on holiday, investing in property and even full time living here - it's feasible to commute daily; anyone who has used public transport in the UK will see that the new super rapid Eurostar is a damn site more fun than schlepping from Banbury to London on the Great Eastern Railway. Traditionally Brits have headed for the french countryside (seeking pastoral idylls harking back to Britain in the 1950's I'm told) but have been, until now, less likely to settle in Paris than their American cousins.

From French Entrée - The improved Eurostar service, launching from its new home at St Pancras station in London in the middle of November, has already fuelled increased interest in buying properties in France, according to currency specialists HiFX. It says the promise of fast links back to the UK is encouraging workers to consider properties in France as a permanent base rather than just as a second or holiday home. In 2006 a study predicted that 1.5 million Britons will commute internationally by 2020.

Read on....

Bonapart Client interview - Tim and Karen Nagle

Tim and Karen Nagle are now far more frequent visitors to Paris since buying their own apartment. Tim discovered the attractions of staying in an apartment rather than a hotel a few years ago and in November 2005 we launched his search for a centrally located two bedroom apartment. At the time, we were pleased with the apartment located in the heart of the Marais (story about the area) but it’s nothing can compare to the transformation that came after purchase! Each time they visit and we meet up, it seems like they are both learning about and enjoying more aspects of French life; from cuisine and cooking to nuances of the language and the funny bits and pieces that make being part of a different culture so fascinating!

How did you feel when you got the keys to your property?
It was exciting to know that we were now the owners of a Paris apartment, but in our case, since we were doing a complete renovation, the real thrill would come after we walked into the apartment and it was completely renovated and furnished. That took our breath away.

What happened after renovation, furnishings, and utilities?
Prior to finalizing the purchase we had met with a well known and extremely talented American artist and designer who has lived in Paris for 20 years and he had agreed to manage the reconstruction and refurbishment of the apartment. For prospective apartment buyers in Paris, I think it is a good idea to get advice and estimates on furnishing and upgrading the apartment prior to making your offer. A good designer/architect can turn an ordinary space into something extraordinary, if you are willing to invest the time and money. In our case, we gutted the apartment entirely, redesigned the living spaces somewhat, and installed a complete new kitchen and bathrooms and so forth. This took about 6 months. In addition to the technical issues, one also has to liaise with the building Syndic to ensure a smooth process.

How do you manage your apartment?
We employ a professional apartment management service the principal of which we met prior to conducting our search. The owner is extremely experienced in the Paris market, bilingual, and he has our total trust. They have done a great job. In my opinion, it would be difficult to manage all of the maintenance, Syndic, and rental aspects of an apartment in Paris without some professional on site help.