Chapter 476: Developing Real Estate
Historically, Robespierre was a bit too radical in his actions, but the fact that people called him "the Incorruptible" speaks volumes about his integrity.
After the Jacobins came to power, as the de facto supreme leader of France, he truly devoted himself to seeking welfare for the people—at least that's what he subjectively believed—and never once used his power for personal gain.
At the same time, he harbored some resentment towards the wealthy.
Considering all these characteristics, Joseph believed he was the most suitable person to oversee the tax system, without peer.
Upon hearing this, Robespierre seemed to breathe a sigh of relief, yet also a little deflated. "Your Highness, although I have no experience in taxation, if you require it, I will do my utmost to perform this duty. However, I feel it might not be as... fraught with risk as you previously described."
"No, you clearly underestimate the danger of this position," Joseph stated. "You will face threats, intimidation, and even violence. Of course, bribery and corruption are far more likely."
Seeing Robespierre still looking perplexed, he elaborated on his plan to abolish the Tax Farmer system and the interests involved. "Originally, all national taxes passed through the hands of these Tax Farmers. That's a colossal sum, over 500 million francs. They will stop at nothing to protect such a lucrative business."
Only then did Robespierre grow tense, but he still affirmed resolutely, "Your Highness, rest assured, I will not fear any threats."
Joseph nodded in satisfaction. "You will assist Count Fulco—oh, he's the newly appointed Director of the Tax Bureau—in establishing the national tax system."
However, as a noble official, Joseph felt he needed someone like Robespierre to keep an eye on him to be truly at ease.
Joseph continued to Robespierre, "You should be very familiar with tax laws, but you will need some training in financial and tax procedures.
"Therefore, you will enroll in the Faculty of Economics at the Paris Police Academy for three months and familiarize yourself with your future subordinates there beforehand."
"Yes, Your Highness, I will follow your arrangements." Robespierre then thought of something else and asked, puzzled, "Did you just say... Police Academy?"
"Yes, the Police Academy. You will also train in drills and command there. And after taking office, your subordinates will all carry swords and and muskets."
"..." Robespierre grew even more apprehensive at this.
Joseph then personally escorted the newly appointed Inspector Commissioner of the Tax Bureau to Versailles Palace to meet the Minister of Finance and the Director of the Tax Bureau, essentially endorsing this young man with no political experience.
By the time they left Versailles Palace, it was already past 3 PM.
After Joseph's carriage entered the city of Paris, he suddenly remembered the matter of fundraising. He promptly told Eman, "Please go to Palais-Royal first. I want to see the 'Starlight Gardens'."
"Yes, Your Highness."
The "Starlight Gardens" was a real estate project near Palais-Royal, promoted using the buzz of the World Expo. Joseph hadn't paid much attention to it before, but after returning from Silesia, he learned that sales hadn't been very good.
Now was a time when money was desperately needed, and a big earner like real estate had to be seized upon.
Joseph alighted from his carriage at the perimeter of the "Starlight Gardens", looking up at this residential area, which was formerly the gardens of Palais-Royal.
This was one of the first areas in Paris to install Gas Lamps. Adjacent to it was the western wing of Palais-Royal, already developed into a commercial district, with hospitals, schools, and other amenities readily available. Logically, sales should have been excellent.
After all, the "Royal Gardens" near Tuileries Palace had sold out almost instantly, yet he learned from Archbishop Brienne's report that less than a fifth of the "Starlight Gardens" had been sold.
The sales manager of "Starlight Gardens" quickly learned of the Crown Prince's arrival and hurried with his subordinates to greet him.
After he bowed, Joseph began discussing the property sales issue with him.
"Yes, you're right, there are many wealthy nobles," the sales manager said, bowing as he walked beside Joseph. "But this place is considerably more expensive than the 'Royal Gardens' properties."
The "Royal Gardens" were priced at 60,000 francs, with actual transaction prices around 70,000, while the "Starlight Gardens" were initially priced at 100,000, typically selling for 95,000 francs after discounts.
The sales manager continued, "Everyone believes that Gas Lamps will eventually be installed at the Royal Gardens as well, and then prices here might drop, so they're all waiting..."
Joseph frowned. 'Real estate is the same in any era: buy when prices are rising, not falling,' he thought. 'This has created an expectation of price drops; no wonder sales are stagnant.'
After a brief thought, he instructed the manager, "Please select the most prominent house and display my emblem there.
"Then, publicize in the newspapers that only the last ten units remain in 'Paris' most expensive and luxurious residential area.' Remember, don't run advertisements; instead, invite journalists to write news reports, emphasizing that only people of the highest status can live here, and that prices will never decrease."
"Afterward, all prospective buyers must first draw lots. Only those who win the draw will be eligible to purchase, and the selling price will increase by 1,000 francs each month, with no negotiation whatsoever."
"Draw lots?"
"It's a type of lottery, but in a more elaborate form. For example, have buyers pick small balls with numbers written on them. Only by drawing specific number patterns three times will they qualify to purchase."
The sales manager looked stunned. "Your Highness, but what if prospective buyers lose patience and leave?"
"Let them go," Joseph smiled. "Afterward, you can have someone, in the name of the 'Starlight Gardens' management, discreetly sell 'slots' to those who wanted to buy but didn't win the draw, for 2,000 francs per slot."
'It's only a hundred-odd houses,' he chuckled inwardly. 'Wealthy people from all over France and Europe are eyeing this place. With a bit of "hunger marketing" or "concept marketing" from later eras, it would be strange if they didn't sell.'
Less than a quarter of the Palais-Royal gardens had been utilized, with a second phase of the project yet to be built. If all properties sold, the net profit could reach 20 million francs!
Following that, they could develop the vacant land near Louvre Palace, the empty spaces between Versailles and Paris, and even the woodlands behind Versailles Palace could be used for residential communities.
Versailles Palace was packed with tens of thousands of nobles, with such small per capita living space; it was high time to improve their living environment.
All the effort he'd put into the Fashion Week, the World Expo, and spending money to lay Gas Lamps, desperately boosting Paris's prestige—wasn't it all to collect Interest from real estate?
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