Now is the time to buy prestige property in Paris, say real estate pundits
Property experts consider that now is a good time to buy prestige real estate in Paris. The prices of prime properties in the sought-after Parisian neighborhoods are not as high as those in London or Geneva – also coveted by prestige property buyers.
The market for properties priced at less than two million euros in Paris remains active. Above that price level, there is more choice available than in previous years. Foreign investors, particularly Russian, Middle Eastern and South American, have been much less affected by the crisis than European buyers. They continue to regard Paris as an attractive proposition for buying an exceptional property. But they can be highly demanding in their search requirements, which may result in opportunities arising for other buyers.
As for prices, the top of the range apartments in the most prestigious addresses still command 25,000 €/m2. You can pay up to 25-30,000 €/m2 in avenue Montaigne in the 8th arrondissement (district). And high quality properties in the 6th and 7th arrondissements can fetch around the 20-25,000 €/m2 mark. But it’s possible to pay up to twice that price in parts of London and even more in Geneva.
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