Already one of the most coveted cities in the world, the government’s new proposals for Paris include improved taxes for companies and more international school options
While new stories about the potential impact of Britain’s exit from the European Union flood the media, speculation is circulating about where Europe’s financial centre will be. Paris, the most visited city in the world, is a strong contender, making it an even more savvy real estate investment opportunity.
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New measures to attract people to Paris
With much to offer bankers, investors and businesses who wish to escape the uncertainty of London, the government is keen to lure investment into the French capital.
“In this new environment which is taking shape, we want an attractive France,” said Manual Valls, France’s Prime Minister on Wednesday 6 July, 2016, explaining that the government intends to improve the tax and legal frame work for companies.
Measures to be introduced include opening more international sections in schools so that children of foreign employees can be educated in their own language. This is good news for overseas buyers with families looking to buy property in France.
Property sales increase in Paris
Earlier this year Home Hunts released property insights report INSIDE FRANCE where it was revealed that property sales in Paris experienced something of a phenomenon in 2015. The city’s notaries reported that sales had increased by 21% when compared with the average over the last decade.
“Our clients want to live in a prime location, in security, in a property that is a long-term investment,” says Hervé Levy, Home Hunts’ Paris-based consultant. “In terms of how the market is going to progress, we expect slight price increases throughout 2016 followed by further rises in 2017, so it is an excellent time to buy prime property in Paris.”
But for those looking to buy property in Paris, where are the best locations to live?
16th arrondissement by Avenue Foch
Hervé says that the north of the 16th arrondissement next to Avenue Foch and Avenue Victor-Hugo remains one of the most sought after areas by overseas buyers. A highly prestigious residential area, many compare it to the Upper East Side in New York or Chelsea in London.
A quiet neighbourhood, it is also a hit with sports fans. The 16th is home to Bois de Boulogne park, where the French Open is held at the Roland Garros Stadium. The Paris Saint-Germain football club is also here, as is Stade Jean-Bouin, where the Stade Français rugby union club plays.
The Trocadéro, one of Paris’s most well-recognised landmarks, is also located in the 16th, linking this tranquil area with the Eiffel Tower.
The 8th arrondissement
The 8th arrondissement near the Champs Elysées is another area always in high demand. Arguably the most famous avenue in the world, living here comes at a premium but is consistently one of Home Hunts’ most enquired about locations.
At the end, near the Place de la Concorde, the beautiful Jardins des Champs-Elysées provides a peaceful inner-city haven not far from the Elysée, the residence of the French President since the 19th century. Here you can also find art museums, such as the Petit Palais, restaurants, theatres and the Grand Palais.
The 17th arrondissement
Property in the 17th arrondissement near the impressive Parc Monceau is also top of the list for those looking to buy property in Paris. At times the park has the look of a traditional English garden, but this unique site also includes an Egyptian pyramid, a Chinese fort and Dutch windmill.
A public park spanning 8 hectares in the 8th arrondissement, it was built in the 17th century and is one of the most elegant parks in Paris. Families enjoy coming here too as there is also a playground for children.
“Our clients prefer residential areas and enjoy the Parisian lifestyle with best markets, boutiques and restaurants,” says Hervé.
To find out more about the best places to buy property in Paris, visit www.home-hunts.com. To speak with a consultant directly about your property needs, whether in central Paris or further afield, call +33 (0)970 44 66 43.
