When you compare Paris in France to either New York or London it wins hands down every time in terms of its architecture, history, culture, cuisine…and its property…because it’s a fact that property for sale in Paris is cheaper, better value and more affordable than similarly located or facilitated property in either London or New York.
Furthermore property in Paris is highly in demand from an incredibly broad array of potential tenants making it an instant income producing asset when bought in the ‘right’ arrondissement - this article takes a look at the property market in Paris and how to find the best investment property opportunity in the beautiful and timelessly attractive French capital city.
According to thePropertyInvestor.net over 60% of property in Paris is already owned by foreign investors and purchasers, they report that 2004 saw a 44% increase in the amount of money invested into property for sale in Paris as well and that this trend does not seem to be abating so far in 2006. The property sector in Greater Paris alone attracted around 17.5 billion euros in investment last year and the appeal and allure of both commercial and residential property in Paris remains constant making the location incredibly interesting from an investor’s point of view.
On the one hand Paris as the capital of France is also the capital of the French economy, it is from Paris that the greatest amount of business is transacted resulting in a huge demand for commercial space for lease, let, sale or rent. On the other hand there is demand in Paris for residential accommodation from the locally employed, traveling business persons, students, tourists and families making it the perfect environment for anyone looking for a broad property investment opportunity.
All of these factors combined together make Paris one of the most exciting locations for property investment. It is on a par with the likes of London and New York in terms of appeal – but property in Paris is actually far more affordable than property in many other world cities. Taking a browse through the property listings today and it’s possible to pick up an apartment near the Trocadero in the 16th arrondissement for EUR 241,000 or a courtyard apartment in the same area for EUR 255,000; you can buy a studio close to the Champs-Elysees in the 8th arrondissement for EUR 220,000, a large three bedroom flat in the 15th arrondissement for EUR 340,000 or even more impressively a small studio with inimitable views of the Seine and the Eiffel Tower for EUR 490,000.
When you consider how little you would get in central London or New York for such a price it’s no wonder that Paris has such a thriving property investment market is it?
