More than 30 million people visit the Paris region each year and it is currently on target to beat London again for most visited city in the world. With London’s property prices having risen 121% between December 2005 and June 2015, and real estate in Paris by 60%, according to data given to the Financial Times by Savills, Paris remains far more affordable than its English competitor.
There is more good news. Paris is also currently experiencing a growth period, with prices having risen nearly 4% in the first half of 2015, and this, combined with favourable exchange rates, means that it is an excellent time for overseas buyers to invest in property hotspots in Paris.
The most coveted property hotspots and best places to live in Paris include the 1st, 8th and 16th arrondissements. Here are some hand-picked luxury properties from Home Hunts’ online portfolio that illustrate what you can expect to buy in these areas.
The 1st arrondissement of Paris is situated on the right bank of the Seine and is where the Louvre Museum and Tuileries Garden can be found. The gardens, which were originally created by Catherine de Medicis (the wife of King Henry II) in 1564, are located between the Louvre and the Place de la Concorde. This arrondissement is also one of the most fashionable places to shop as Place Vendôme and Rue de Rivoli are both situated in this area.
This beautifully-presented four-bedroom apartment (HH-9670350) is located in an extremely privileged position in Bouloi Street near the Louvre and the Tuileries Garden. In a Haussmannian-style building, it has spacious rooms, three-metre-high ceilings and well-designed neutral interiors. A rare find, at €1,880,000 a property like this will not be on the market for long.
The 8th arrondissement is situated on the right bank of the Seine and is one of the main business districts in the city. It is also home to the Champs-Elysées and the Elysée Palace, which is found on the fashionable Rue du Faubourg Saint-Honoré. Famous for offering some of the best shopping in the world, the Champs-Elysees is one of three streets – along with Avenue Montaigne and Avenue George V – which forms Paris’s renowned “Golden Triangle”.
This stunning two-bedroom apartment (HH-7783187) is situated on the border of the “Golden Triangle” on the 6th floor of a 1970s building. Having been entirely renovated with top quality materials, this spacious, modern property is perfect as a prime residence or as a holiday home, which, due to its position and large south-facing terrace, has high rental yield potential. It is priced at €1,900,000.
The 16th arrondissement is a quiet, family friendly area where some of the most admired and widest streets in Paris, such as Avenue Foch, can be found, as well as prestigious schools, such as the International School of Paris. The Trocadéro, perhaps one of Paris’s most well-recognised landmarks, is located in the 16th, linking this tranquil area with the Eiffel Tower, and making it one of the most coveted property hotspots in Paris.
Well positioned on Avenue Foch, this large three-bedroom apartment (HH-9436862) offers grand, spacious rooms that are filled with light and splendour. High ceilings, an impressive master suite and a caretaker’s studio are just a few of the standout features in this prestigious property, which is on the market for €2,390,000.
To find out more about property hotspots in Paris, visit www.home-hunts.com where you can also carry out a property search. To discuss your requirements directly with a Home Hunts’ consultant, call +33 (0)970 44 66 43.