France: Jean-Christophe Tinoy CEO's GUEPARD real estate

1 / What are for GUEPARD real estate the criteria for an exceptional property in the 8th district?

For GUEPARD real estate, the criteria for an exceptional property in the 8th, and not necessarily only for the 8th, are first and foremost the address, the architectural quality of the building, the view (monuments and, or Seine river) and a price well above the average value per sqm of property in the vicinity is the third and almost necessary criterion. Some add to these initial criteria calm and greenery. "The Golden Triangle" (bounded by the avenues Montaigne, George V and Champs-Elysees) and the view of the "Parc Monceau" situations remain very popular as well as the streets very nearby.

- 2 / What is the customer profile of such properties? What the buyers are attracted for, why do they choose the 8th?
 

• - The answer to this question will concern three areas of the 8th district that represent for GUEPARD real estate most of its properties for sale and sold: "Monceau", "Ternes" and "the Golden Triangle"
• - I would identify as a minimum two types of buyers: those who buy for private gain without immediate goal, those who invest either privately or in partnership with a view to sell (either individually or a complete building they would resell separately with various flats); they are often owners in these neighborhoods;
• - The property located at these sites have several advantages: an image of prestige, a long-term investment by the rarity of the continuing strong demand and the inability to modify the immediate environment (Architect of buildings in France, Historic Monuments). The proximity of luxury shops, luxury hotels and headquarters of their own society also motivates buyers.

- 3 / What percent (approximately) of your customers is the foreign clientele and what nationality (s) predominates (s)? Are we witnessing a return, a fall or an increased presence of certain nationalities in the 8th?

Here also, for the 8th district, customers should be differentiated according to their budget.
 
Those of the "Golden Triangle" neighborhood, mostly foreign profiles (mainly Middle East and Russians) and wealthy French families with many real estate assets. Their target begins around flat ranging from 200sqm to no limit.
 
Those of the "Monceau" neighborhood, mostly French, expatriates (children's schooling is important) and some middle East People, usually targeting family apartment from 150sqm to 300sqm.
Those of "Ternes" neighborhood, more cosmopolitan profiles with European people (Anglo-Saxon, Italian) and French families where budgets do not go beyond € 3M.
 

80% of requests to GUEPARD real estate in the 8th district for apartments over 4 million € come from foreigners. For properties in blocks or "operations" (selling separately a building, change of destination ...), they are still 50%.
 
4 / - How is the market for luxury real estate in the 8th?
 
Demand remains strong both from the foreign people (Middle East, Russian, Chinese, some Brazilians, Italians and Anglo-Saxon) and the French people.
 

5 / Where are concentrated those buyers, with what average price per sqm?
 
The areas of purchase which are less representative and where sales recorded by GUEPARD real estate are the neighborhood of "Europe", "Mairie du VIII", "Saint Philippe du Roule" and "Madeleine".
 
The two strongest researches from potential buyers almost equal to concern "Monceau" and "Ternes" neighborhood . The price per sqm and the quality of flats comprising at least three of the following criteria: address, view, quiet, close to shops, architectural quality of the building and the condominium, plus the standard expectation "from the second floor" is established above € 11 000 per sqm. "Parc Monceau" neighborhood pricing is well beyond. The majority of the properties concerned is between 150 and 400sqm.
 
An equally strong demand but different for the "Golden Triangle" with a starting price per sqm of at least € 14,000 which goes over € 25,000, with regards to flats larger than 200sqm.
 
Next comes the neighborhood "Hoche / Friedland", certainly less requested by the families than "Ternes Monceau" neighborhood but has yet a real advantages of location, with quality buildings including offices or mixed activities. The area that is bounded by the Avenue des Champs Elysees, the Avenue Friedland and the Avenue Franklin D. Roosevelt is also an opportunity for many foreigners, either for a "pied-à-terre" or a rental income.
 

6 / For the luxury real estate, how to defend the 8th district compared to neighboring districts that offer the same kind of properties (7th, 16th, 6th, 1st)
 
The properties can actually look the same but the environments are very different.
For example, the North bounded by 16th Avenue Kleber, Avenue President Wilson and Avenue Marceau (odd number) can sometimes interest the same buyers as those of the "Golden Triangle", as the 7th district "Alma" near the "Pont Alexandre III". It's the same for customers seeking a single set (building, mansion) where 7th, 8th and 16th are often cited in the same research.
 
7 / - What do you consider the impact of the crisis on the real estate market of prestige in the 8th? Is it harder to sell goods of very high surface area (is it more negotiated, fewer potential buyers, sale periods getting longer ...)?
 
The crisis turns to be beneficial to areas of the 8th district having so many assets; this district is indeed targeted by foreigners or the rich French families already holding an important building heritage. The real estate of the 8th district represents a true safe haven or a place of speculation. "which is The best is much sought after."
 

- 8 / I have a focus on "the Golden Triangle", including the "Champs-Elysées". Can you give me some examples of recent sales (area, price per sqm, customer, why choose this place)?
 
The lowest transaction for a 160sqm upper floor needing some refurbishment and located in a busy street - signed by foreigners seeking a pied-à-terre they could rent - was last quarter of 12 000 € / sqm.
 

9 / What is the most expensive flat GUEPARD real estate has sold this year and why?
 
GUEPARD real estate which has a portfolio of quality properties selected on criteria of excellence able to please French and foreign customers seeking this type of rare products available without advertising. The most expensive apartment sold in 2011 by GUEPARD real estate was well over € 10m.
 

10 / Finally, what do you think of the phenomenal rise in prices in 2010 and the first 6 months of 2011, and how do you think the market will develop in the coming months?
 
I think it is important to distinguish two profiles of clients: the traditional families who purchase their principal residence and the other, and we must also separate the actual quality of neighborhoods that have soared with those that do not have the same high level standard (architecture , shops, schools and environment in general ...).
 
For the latter, a correction should remain fairly strong. For others, a lesser decrease in prices can be expected with a phase of stability and reduced transaction volumes due to national and international context.
 

The prestige "knows no crisis" and is little affected particularly in neighborhoods that are the subject of this article.
 

- 11 / What "good deals" do you advise? (Streets or neighborhoods that customers may not think that offer good deals, flats a priori not very attractive but profitable after work ...)
 
Tips always depend on design choices that potential buyers are considering. In each case GUEPARD real estate adapts his advice in their best interests. In my opinion, there is no general rule. But very beautiful property with excellent characteristics, located in areas considered less prestigious by foreigners, even by the French, can have an attractive price. For example some streets perpendicular to the "Avenue Marceau", some streets in the immediate vicinity south of the "Rue Saint Honore" or some quieter streets west of the "Boulevard Malesherbes" and south of the "Parc Monceau". Finally and in general, opportunities for buyers very often depend on the situation of vendors; as there is no publicity about the property, only confidential information held by GUEPARD real estate can make a difference while driving the transaction, and respecting the interests of both parties, sellers and buyers.
 

GUEPARD real estate
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