Paris Property Strongest in 20 Years -- the Côte d'Azur Cuts the Prices in Half
Free Residential Property Investing Seminar
Tuesday, October 11, 2011 from 4 p.m. to 8 p.m.
Join Adrian Leeds and other property professionals at this free international event for investors wishing to learn more about France’s dynamic property market. Speakers include experienced, independent property investors from France and around the world. Come to network with key players in the property industry and keep up-to-date with changes in the market. The event will run from 4 p.m. to 8 p.m., followed by drinks nearby.
BNP Paribas Investment Partners
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14 rue Bergère, 75009, Paris
For more information and to reserve your spot, contact: justine.trueman@bnpparibas.com
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Bonjour French Property Insider Subscriber,
The prices of property in Paris and the Ile-de-France were out as of this morning for the second quarter 2011.
The volume of sales in Paris is up 2% for resale apartments and down 12% for new-builds between second quarter 2010 and second quarter 2011. And that might not sound so powerful, but prices rose 4.6% for the quarter and 22.5% for the year to an average of 8,150€/m2! There seems to be no downturn in sight throughout the Ile-de-France except in the case of new-builds. The strength of the market in Paris has been the strongest in 20 years with one district showing as much as a 26.9% increase -- the 9th!
Central Paris and the western districts are leading the pack, with the 6th ahead of them all with 11,690€/m2 and an increase of 16.4% for the year. Not far behind is the 7th with 11,570€/m2 and an increase of 18.1% -- both among the districts with the least amount of growth. But the 4th district, the southern part of Le Marais, is giving them both a fair run for their money with 11,560€/m2 and a bigger increase of 23.2%.
The 19th and 20th districts remain the least expensive, but are not showing the weakest growth -- in fact, they're increasing 23.7% and 22.2% respectively.
To download the full report (pdf file in French), go to Property Report 2nd Quarter 2011
In comparison, in the Alpes-Maritimes, which comprises the Riviera from Théoule-sur-Mer to Menton, are reporting some areas with prices as high at 5,610€/m2 to 6,410€/m2 --half Paris prices. Some of the highest prices are reflected in central Nice, but also in many of the chic villages along the Côte d'Azur such as Villefranche-sur-Mer, Beausoleil and Roquebrune-Cap-Martin.
It's for this reason that investment in these areas can be quite profitable now, as rental return can be almost as interesting as in Paris. Both central Paris and many parts of the Riviera are virtually risk-free investments when considering both rental revenues and appreciation.
Our Paris team is back this month and ready to select the best properties for investment. We are also pleased to be working with an American in Nice with tons of experience who is already sourcing properties in Nice and along the coast that will make the best investments. As we are now building our resources in Nice and will be managing rental apartments, Nice and environs may interest you as another great place in France in which to safely invest and be profitable.
Note: Prices all over France in great detail can be found at French Property Prices and in the Ile-de-France at Property Prices Ile-de-France.
Legends for the following maps are available at IMMOPRIX
A
bientôt,
Adrian
Leeds
Editor, French Property Insider
Email: fpi@adrianleeds.com
P.S. You don't have to be a girl to enjoy "Girls Guide to Paris" -- see Doni Belau's "Breakfast with Adrian: Hunting for Paris Apartments" -- a recent interview with me -- and be sure to subscribe! Visit Girls Guide to Paris
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Helpful Conversions for Real Estate
1
square meter = 10.7639104 square feet
1 hectare = 2.4710538 acres
For more conversions, refer to: www.onlineconversion.com/
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September 13: Victoria The Pleasure Coach – "Does Paris Give You Permission to Have Pleasure?"
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