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Here is an up to date list of the conferences and trade fairs in Cannes, France for 2013.
One
MIDEM 26-29 January 2013
The World’s Music Market
(Marché International du Disque et de l’Edition Musicale)
Continue reading “Dates of Conferences and Trade Fairs in Cannes France for 2013”
The below article is an English translation of the French article that appeared last Friday in the Nice Matin, a French Riviera Newspaper.
Here is the link to the original article if you wish to read it.
Despite a 24% plunge in real estate transactions last year in the Alpes-Maritimes, investment in real estate on the Côte d’Azur is a good choice.
1. The French Riviera is a great value
According to Frederic Pelou, president of the FNAIM French Riviera prices will continue strong in 2013 “especially across the waterfront sector, whether in Nice, Cannes, Antibes, Menton … because it always attracts foreign customers.” The Côte d’Azur is a value refuge. … A view shared by Marc Touati, an economist who believes that the Côte d’Azur “retains a strong power of attraction and it stands out that the domestic market.”
2. Interest rates are at their lowest
Interest rates are historically low in France. They are also currently stable, it is time to borrow or renegotiate credit. Some customers are able to negotiate savings of € 20,000 over the life of a French bank loan contracted a few years ago with a simple phone call to their bank or through a broker. Jean-Marie Ebel, president of the French Real Estate Observatory believes that “..competition may force banks to ease conditions for access to bank credit. “Prospective buyers can expect to borrow at 3.07% over 15 years, 3.4% over 20 years, 3.75% over 25 years and 4.27% over 30 years.
3. You can still do good business
Frédéric Pelou, President of FNAIM, says it is simple: “The wise thing is to anticipate major projects. We must invest more in sectors that will experience positive changes like the neighborhood Republic in Cannes. For example, those who bought five years ago on the Piazza Garibaldi in Nice, since beautifully restored, do not regret their investment! Those who have invested or are planning to do in the vicinity of the green corridor of Nice etc are making a wise choice. “According to Mr Pelou, one can expect a small drop of around 5% for all real estate except near the sea.” But it will be limited, and we should not expect exceptional cases with prices sold off. ‘
4. Sober Pricing
According to Jean-Marie Ebel, president of the Real Estate Observatory “many apartment owners overvalue their property … awareness operates. You sell quickly when you sell at the right price.”
5. Real Estate remains a standard placement
“When we see what happened in Cyprus, said Frederic Pelou, measure how real estate remains a safe haven par excellence. “A point of view shared by the report of the Economic Analysis Council (CAE). The real estate market has also been parallel to that of gold. From 1996 to 2012, house prices rose by an average of 6% per year in France, far more than consumer prices (1.7%) and rents (2.5%).
Date of posting March 2013.
Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.
If you are an English speaking Non Resident of France and you want to find out some of the Tax Advantages currently available to non resident real estate investors you will want to read this article written by a French Tax Adviser and French Notary. Follow this link to the French Real Estate Tax Advantages written in English.
Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.
The French notary is responsible for many actions during the sale of a French property.
Here are nine examples,
One
They will check for any third party claims on the property
Two
They will check to see if anyone else has a right to purchase the property like the local city hall
Three
They will confirm the right of the buyer and seller to be involved in the transaction
Four
They are involved in the creating of the Compromis de vente
Five
They are involved in the signing of the Act de Vente
Six
They will provide the buyer and seller with a copy of attestation of the sale
Seven
They keep the original deed of the property
Eight
They are responsible for the transfer of funds for the purchase and the payment of the taxes required as part of the transaction
Nine
During the the signing of the Acte De Vente the Notary will read out the terms of the contract to all parties present in French. This is why it is important you have an English speaking notary available to explain anything you do not understand.
Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.
This Wednesday the Chamber of Notaries of the Alpes-Maritimes announced their numbers for real estate sales in 2012.
The most significant finding is a large decrease in the number of transactions, most notably a 17% decrease in the number of transactions of pre owned or used apartments. Interestingly, even with the reduction in the number of transaction prices for the used apartments has remained at approximately 3900 € / m2.
Overall according Hervé Paillard, president of the Departmental Chamber of Notaries, 2012 is considered a “balanced [year]” because the sale price offsetting the decline in the volume of transactions.
However, M. Paillard is much more pessimistic about the real estate market on the French Riviera in 2013.
“We recorded a decrease of one third of the sales agreements signed at the beginning of this year, compared to last year,” he says.
2013 could well look like 2009, the year in the black sector of real estate.