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Guide to Paris

Introduction

Regarded as one of the most beautiful, atmospheric and historic cities in the world, France’s capital city is now closer to the UK than it ever has been before. With a new rail link and ever more flights making it easy to get to Paris from anywhere in the UK, it is little wonder that it is becoming far more popular to buy a real French pied-à-terre.

Buying property in Paris has numerous advantages for the overseas investor. There is a healthy rental market from tourists, students and long-term contracted employees, the history and culture, as well as the shopping, of Paris will be yours to sample at will and having a property there will put you are the gateway to the rest of France.

Perhaps more than other countries in the modern world, the tone of the whole of France is set by what happens in Paris, so as a base from which to be able to visit the rest of France, it is a perfect place to own a property. On top of all of this, property prices are increasing, and there are new areas in which to find a less-expensive apartment as an investment for the future.

The region

Paris is a well-contained city, the centre of which is marked out by the extensive Métro system and stays within the périphérique, the ring road around the whole city that, much like the M25 in London or the M60 in Manchester, hems in the densest of the building and appears to herd the city and its inhabitants within.

Administratively, the city is divided into 20 arrondissments, or districts, which are arranged into a clockwise spiral originating from the city centre. In fact, the 1st arrondissment is also the cultural centre of the Louvre on the Right Bank of the Seine. Like districts in other cities, the Parisian arrondissements vary in quality and type of property, and are constantly changing and developing. In much the same way as will be found in many major cities in developed countries, fashions, availability, and the cyclical nature of the property markets means that there is always a new ‘hot’ area or district for property buyers. The best way to keep up with this kind of trend and to maybe get hold of a property in what will be the next big thing is to keep in touch with local estate agents.

At the same time, there are some areas that will always be popular places to buy property, which are often some of the best locations in which to buy property if you intend to rent it out to tourists or students. The Latin Quarter, situated on the Left Bank near the Sorbonne and the Pantheon, is well-known as being popular with students studying nearby and academics who like to visit the bookshops and cafes in the area. A managed studio apartment in this part of Paris which has been newly-renovated can be found for around £200,000.

Much of central Paris has residential property available for buyers, and there are few districts that are deserted at weekends. The main business district of the city is located in La Défense, a couple of miles from the centre of the city, meaning that the majority of the central part of Paris is given over to tourism, culture and retail.

The other type of opportunity that is now attracting the attention of the domestic and international property markets is investment property on the outskirts of Paris that service both the new breed of commuter and in some cases the tourist market. Some businesses are relocating to the new business parks that are situated around the outside of the city, and with the new offices and commercial premises, there are apartment complexes available for the investment buyer.

This type of property can also be of interest to the buyer who is looking to rent out to tourist families, as the popularity of the Disneyland Paris resort increases, and visitors look for alternatives to the on-site hotels or staying in the centre of Paris.

Also of note for the potential property buyer is the fact that the suburbs of Paris tend to be the location of the social housing schemes that in other cites are found in the inner city areas. The banlieues, as they are known, were the focus for much of the civil unrest that followed comments made by the then interior minister, Nicolas Sarkozy, and have been branded as the worst ghettoes in the country.

Climate

As a typical northern European city, Paris enjoys a similar climate to the south of the UK. Winters are cold and wet, but are somewhat shorter than will be experienced in London due to the more southerly latitude. The summer months are often stiflingly hot in the centre of Paris, and many residents take advantage of the long summer vacations to leave the city to the influx of tourists and head to the Cote d’Azur.

More pages

Page 1: Introduction
Page 2: Getting there

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