VINGT Paris

How to evaluate a property

We found a wonderful article online recently and thought it would interest our readers.  When purchasing Parisian property, buyers are frequently misled by the average price per m2 which only gives a general idea but does not necessarily reflect the true value of a property, which can depend on several factors : address, level in the building, quality of common areas, services, etc. The table below gives an indication of how to evaluate, even though we all know, each property is a case apart. (Source PAP newsletter)

Floor Level	Compared to average price/m2
Ground floor overlooking street	- 15 à - 25 %
1st floor	- 7 %
1st floor with café or trader open late below	- 20 %
3rd floor to 6th floor with lift	+ 2,5 % per floor
Location	Compared to average price/m2
Overlooking dim courtyard	- 10 %
Building less than 10 metres away	- 10 %
Terrace or garden	+ 5 à + 15 %
Double orientation East/West	+ 3 à + 5 %
Beautiful view (Parisian monument, open views)	+ 5 à + 20 %
High level of disturbance from traffic	- 15 à - 20 %
Technical qualities	Compared to average price/m2
Property entirely renovated (electricity, plumbing, insulation, etc.).	+ 15 à + 20 %
Property requiring light redecoration (painting, floors, decoration, style)	- 5 à - 10 %
Property requring renovation (depending on the extent on the renovation)	- 10 à - 30 %

Non-Resident tax return - rental income

 I've just written to our owner's to remind them to look out for Tax d'Habitation and Tax Fonciere bills which usually arrive at this time of year. It's best to chase these up at the local Tresor Public, if you are able to put in place an automatic payment, so much the better and you can forget about it. Property taxes are low in Paris but just in case you feel like you got lucky as you haven't received anything, please don't just write it off! If your Tax Habitation or Fonciere is not paid, the "Fisc" will have no hesitation in freezing your bank account. Imagine the chaos caused by your direct debits for everything from the internet subscription to your electricity bouncing (resulting in your tenants losing power during their stay and the ancillary very long and boring re-instatement of the standing orders).