Paris France Now Overseas Property Haven

Finding a property in Paris can
be tough.  Prices in the French
capital rose by 2.7 per cent in the third quarter of 2011 alone making
apartments within the city centre some of the most expensive in the world.  So, how do you find a good value
property?

Well, an expert on Parisian
property has suggested that buyers could consider ‘less exploited’ districts of
the city.  Keep reading to find out
where the upcoming districts in Paris are in 2012.

Up and coming areas of Paris proving popular with international buyers

The most expensive apartments in
Paris such as Saint Louis and Saint Germain can cost in excess of €20,000 per
square metre.  So, it’s perhaps no
surprise that the rising costs of home in Paris are pushing buyers towards less
established areas of the city. 

Thomas Elisian of Paris Attitude
Vente, told the Daily Telegraph:
“High rents, 30-year mortgages and historically low interest rates are
sustaining investor interest. But foreign buyers on the loo out for something
bigger and better are increasingly willing to look at ‘newer’ neighbourhoods if
they can get an advantageous deal.” 
But where are these areas?

Property consultant Philippe
Menager identifies two areas of Paris that are proving popular with foreign
buyers.

He said: “The Butte-aux-Cailles
area in the 13th and the Buttes Chaumont Park district in the 19th are growing
in recognition as attractive, community-minded neighbourhoods with authentic
Parisian boutiques and inexpensive cafés and restaurants.

“Prices in the 13th come in
around €6,960 per square metre. Apartments in the 19th are competitively priced
too, at around €5,780 per square metre.”

The 10^th
arrondissement has also been identified as a place increasingly popular with
buyers.  The Telegraph reports that ‘North of the Grands Boulevards encircling
the Gare Du Nord and the Gare De l’Est, the 10th was a down-at-heel
working-class neighbourhood until the 1930s spearheaded the area’s
revitalisation.’

Franck Garno, a Parisian property
expert, agrees that the 10^th is a location to consider: “The Gare de
l’Est’s multi-million makeover is catering increasingly to affluent commuters.”