The Time Is Right to Consider Purchasing a Second Home in Europe

NEW YORK, Dec. 14 /PRNewswire/ -- Smart investors know that the time is right to look across the pond to buy real estate. But why buy a whole estate when you can only use it a few weeks out of the year? Americans who are chained to their desks and strained by a faltering economy don't need to look far, or invest much, to have a second home in Europe for their private use at least 4 weeks out of the year. Paris Residence Club, a Paris-based shared ownership real estate firm, has created a package that is custom-tailored to Americans who dream of living in Paris like a Parisian. PRC is a lifestyle destination club that allows like-minded owners to invest in a secure and potentially profitable shared interest of their very own, Parisian Pied-a-Terre, and to use it, hassle-free, as a base to access any of the 16 beautiful European Club destinations, such as Provence, Tuscany, and Morocco, or to cruise the Mediterranean with the Club yacht. All at a fraction of the cost it would be to purchase the whole thing.

(Photo: http://www.newscom.com/cgi-bin/prnh/20091214/NY25580 )

Here are some compelling reasons to invest in Paris Residence Club while the Parisian real estate market is red hot:

• Choice of 1-, 2-, and 3-bedroom beautifully renovated apartments in highly-desirable locations and buildings in the heart of Paris
• Low financial commitment
  • Average price at $200,000 per share
• Low upkeep costs
• Low risk investment
  • Healthy Parisian real estate market
  • Prime locations: reverse, positive trend in property prices
  • Quality renovations; Special attention given to U.S. consumer tastes and needs
• ROI: Potential profits
  • Share in capital appreciation
  • Save on vacation costs
  • "Turnkey" rental potential when share is not in use, managed by sister company, Paris Pied-a-Terre
• Simplified, U.S. legal structure
  • No hassle with French red tape
  • Inheritance tax and law advantages
  • Strict usage plan application
  • 100% ownership: means total control
  • All documents are in English
• Membership in Paris Club
  • Services and amenities of 5-star hotel, without the lobby
  • Networking and events with like-minded people
  • Exclusive and guaranteed access to extra week in any Club destination or asset means you are not locked into the same property forever. Access to:
    • 18th century Provence farmhouse
    • Yacht in Mediterranean with skipper on call
    • "Hideaways" destinations (16 in all)
    • More planned for 2010
  • Investment opportunities
    • First-in priority access to PRC direct investments in future acquisitions

The best benefit of all is that, for buyers who sign contracts between now and January 31, 2010, PRC will buy back the share in 5 years if the owner is not completely satisfied with their experience.

PRC's Founder and CEO Walid Halabi explains, "For most people, a home in the center of Europe is simply a fantasy, especially in today's uncertain economic times," said Mr. Halabi. "We are helping people to discover the many advantages of fractional ownership and the fact that, for little investment, they really can 'own a piece of Paris' and 'live like a Parisian.' There is less hassle than going through the French realty system when a potential buyer works with us, and we have made it very easy for Americans to purchase abroad. All the contracts are according to U.S. law which makes the process very seamless to navigate for a first-time European home-buyer."

The one-, two- and three-bedroom residence apartments available for shared ownership within Paris Residence Club come fully furnished and adorned with elegant interior designs and modern amenities, offering owners not only a legitimate real estate acquisition (note: the main difference between fractional ownership and timesharing is that the buyer actually owns the asset) but an ideal intimate setting for entertaining family and friends. Additionally, the apartments are conveniently located in the heart of Paris, within walking distance to metro stations, as well as popular Parisian neighborhoods and well-frequented destinations such as the Champs-Elysees or the Boulevard St-Germain; Notre Dame or the Eiffel Tower.

Paris Residence Club offers an unparalleled level of services to its owner-group, including 7-days-a-week English-speaking concierge, pre-arrival grocery shopping, fresh flowers at arrival, car service, daily English newspaper delivery, and many other comforts of home.

Paris Pied-a-Terre is a vacation rental property firm that is also managed by Mr. Halabi. PPaT is an ideal service for those who plan to visit Paris for an extended stay, but are not ready or able to invest in real estate there.

"The time and mood is right for Americans to start falling in love with France again," Halabi concluded. "And Paris real estate is only getting better and better, while other major markets have a long climb back up."

For further information on fractional ownership with Paris Residence Club, or rentals with Paris Pied-a-Terre, contact Ms. Lisa Hagen at 1-877-OhParis! (877-647-2747) or visit www.parisresidenceclub.com or www.parispiedaterre.com. Press images of properties are available by request.

SOURCE Paris Residence Club

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