According to the French Ministry of Foreign and European Affairs, historical romance capital of the world, Paris is the most popular city tourist destination on the planet, with more than six million visitors each year. Since hotel accommodation is expensive, many frequent visitors to the city opt to purchase a holiday home that they can use and share with family and friends, and rent out to other visitors. Despite the economic downturn and financial volatility in Europe, the Paris property market remains strong and prices are high. Idf you shop around, there are some decent mortgage deals for buying property in Paris, both from UK banks and from banks in France.
Paris property
With its historic buildings and the scarcity of property stock, purchasing property, particularly apartments, in central Paris will be expensive. However, since the city has excellent public transportation, it makes good economic sense to look outside of the city itself for a holiday home, where farmhouses and villas with sufficient land for a swimming pool, can be purchased for significantly less than a centrally-located one- or two-bedroom apartment.
Buyers with their hearts set on a pied-a-terre at the heart of beautiful central Paris, should know that the city is divided into 20 arrondissements, or administrative districts, each with an average population of around 25,000. They are numbered one through twenty and are arranged in a clockwise spiral, with number one being at the very center of the city. As with any capital city, not all arrondissements are equal, and the buyer should do his homework, to identify the district which best suits his needs and budget. Some of the most popular are:
4th Arrondissement ? Hotel de Ville
Quirky and chic independent stores and a wealth of bars and restaurants around The Marais has made this area popular with both the Jewish and the gay communities. Apartments around the Place des Vosges are the most expensive.
6th Arrondissement ? Luxembourg
St. Germain des Pres is popular with foreign residents who want their own little bit of historic, cultural and artistic Paris. This arrondissement, together with the 7th Palais-Bourbon district are the most expensive residential areas in the city.
12th Arrondissement ? Reuilly
Popular with first-time buyers, Reuilly represents good value for money, with property prices 30 to 50 percent cheaper here than other districts.
16th Arrondissement ? Passy
Buyers with young children flock to Passy and the properties around Auteuil, Muette and Victor Hugo with its family-friendly stores, restaurants and open spaces.
Interested also in Paris family travel?
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