Property in Paris

Introduction

France has remained popular throughout the last decade and still boasts to be 'the most visited place in the world' (The Rough Guide 2008). Part of its attraction is its diversity, varied scenery and inexhaustible places to visit. It is still the largest Country in Europe and can provide the home owner / investor with superb flexibility in both climate options and its access to surrounding Europe.

Paris itself is rated as one of the top European destinations and is known as the place for investment opportunity. With superb daily rail links from London, and an extensive international network of flight plans into both Charles De Gaulle and Beauvais; Paris is central and accessible. Paris is divided into 20 neighbourhoods or arrondissements. If you know the postal code of any address in Paris, you can easily identify which arrondissement the address can be found. All postal codes in Paris begin with the prefix 75 followed by the number of the arrondissement i.e. 18th arrondissement would be written 75018. The suburbs are called banlieu and are generally more peaceful than the city addresses. Some of the more desirable suburbs are found on the West of Paris and include St Cloud, Boulogne and Neuilly. Each neighbourhood is very different in style, architecture and taste and it is therefore very difficult to generalise any given arrondissement.

The Investment Climate

There is no question that investing in France means dealing with the complications of the French economy: nightmarish bureaucracy...endless vacations...workers who go on strike at the drop of a béret... French ways are not quite the same as American or British ways, and you must take these factors into account when considering making an investment in France. Yet somehow France survives, and the economy is on the upswing.  This is the country that introduced the word "entrepreneur" into the English language. The world's fourth-largest exporter, France has a per-capita GDP of $27,500 and inflation stands at just 2%. With last year's growth rate coming in at 1.1%, and this year's forecast to be 2.6%, the French economy has a lot going for it-including ultra-modern transport and communications systems, competitive energy costs, and an AAA credit rating.

Investment for you

On a personal level, there could not be a better time for investing in France. In the cities alone, growth rates are in the top ratings of Cities around the world. Paris for instance boasts remarkable appreciation depending on the arrondissement you choose.  As it stands this quarter (based January 2009) the 19th and the 15th are the strongest arrondissements to purchase in Paris. The reasons for this are generally down to both quarters undergoing a radical face-lift and capital appreciation stands between 10-22% for the coming economic year. It is advised to know what is happening in the arrondissement you are looking at buying. Look for regeneration or well established tourist areas, good schools and universities, well established companies and shops, good transport links both around your property and to the wider field of airports and international links.

International sales mogul M Nabavian states... "I am optimistic about the future of investing in the whole of Paris - and in France in general - because of the country's position as a leading tourist destination". He continues... "France is extremely pro-tourism - the country's ambition was to be the number one country in the world for tourism and it wants to continue this reputation."  This means that investors looking to buy anywhere in Paris are almost guaranteed to be able to rent out their apartment to tourists wanting to stay somewhere more personal than a hotel. So even if the actual flat does not appreciate hugely in value, investors are still left with a steady rental income. (evidence suggest that property prices in Paris are continually on the up!)

Article provided by France Property Finder

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