Ah… Paris, capital city of love, light and… luxury !
Who has never dreamed of a nice top floor apartment in Paris with a balcony that gives view on the Eiffel Tower ?
If owning a property in France’s capital city has always been trendy, now is the best moment to look for a place.
In fact, the interest rates in Paris are very attractive for both buyers and investors, and the 2024 Olympic Games, which, for the record, will take place in Paris, are enhancing the city’s image on an international level.
According to the EY’s attractiveness barometer, Paris has caught up with Germany and the United Kingdom in 2018, despite the lag the city had accumulated over the last 10 years, when the international financial crisis had stroke.
In terms of costs, Paris’ luxury properties still are very competitive with properties in London, New York or Hong Kong, despite the rise of prices.
The best-sellers are ground floor apartments with a minimum of three bedrooms and bathrooms, 40 to 60m² in the 6th, 7th, 8th and 16th arrondissements.
However, the wealthy clientele with a 10 million euros budget and more is looking for minimum 300m² top floor penthouses in the 16th, with luxurious included services such as a spa or a gym area.
It is safe to say that the business of luxury real estate in Paris is very dynamic thanks to a favorable economic context, with a +32% growth in terms of sales in the first semester of 2018, according to a Christie’s International Real Estate survey.
If you were hesitating, now you know: 2018 and the upcoming year are the best times to invest in properties in the capital city of luxury real estate.