Lead Pipes in French Real Estate New European Directive

French property owners are impacted by a new European Union directive that becomes effective on December 25 2013, according to a new article in Le Figaro. The directive is for a reduction in the lead content in tape water. The lead content is a direct result of the lead pipes still in use in French properties.

Generally, lead piping can be present in French properties built before 1950. Check if you are not sure.

According to a report of the General Council for the Environment about 7.5 million French properties (about 22 percent of French real estate) still have lead piping, perhaps as much as 838000 properties in Paris alone.

Most people have not made the change to their property because of the expensive nature of the change of piping.

As part of the sale of a property in France there is a diagnostic report for lead (plomb in French). Make sure you are familiar with this report that shows the condition of the French property you are selling and that you are familiar with all the reports required for the sale of a property. As a buyer the reports are invaluable to review.
Read the full article in French on this topic here

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French Commercial Office Real Estate Market Growth Not in Paris SIMI 2013

The 12th Edition of SIMI, the exposition for French Business Real estate takes place from the 4th to the 6th of December 2013.

According to an article in Le Figaro, investment in commercial business real estate in France is growing but not in Paris.

The growth has been more in cities such as Lyon, Lille and Toulouse.

Overall according to Thierry Laroue-Pont, chairman of BNP Paribas Real Estate, in the first nine months of 2013 the market for commercial real estate in France is up 27 percent year over year.

If you would like to read the full article in French click here

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French Notaries French Property Price Not Falling

French real estate property prices are not falling, according to the most recent report by French notaries.

The prices of existing properties has remained stable in the third quarter of 2013.

Typically, the months of July August and September is one of a dynamic real estate market in France and this year according to French notaries was no exception.

Read the full article in French here

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What does SCI mean in French Real Estate?

SCI in French real estate is an abbreviation for Société Civile immobilière.

Société Civile immobilière is a legal entity set up, for example, to buy a French property.

A common form of SCI or Société Civile immobilière that we have heard of is a SCI de gestion that brings together at least two people to own one or more properties.

To learn more about Société Civile immobilière and how it could benefit you we can put you in contact with an English speaking French real estate tax and legal adviser  Contact us here.

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What is a Cour in a French property ad?

If you see the term ‘cour’ in a French property advertisement it is typically referring to a courtyard, a private area inside a residence where there may be a swimming pool or other facilities for the residents to use.

Here are questions with the answers:

What is a pied a terre in French real estate?

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