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Paris Buy-to-Let Market is Strong

One of the more popular overseas investments in real estate is buying-to-let Property In Paris. Long a favorite for both businesspeople and holiday travelers, Paris has many attractions that will help those who want to earn rental income. Paris is currently short of accommodation for short term visitors, particularly those who need to stay for business or an extended holiday. It also has many well-known museums, historical sites and locations to keep any visitor or resident busy for months and even years.
 
According to a recent article in the Telegraph, both long-term lets and holiday lets are good investments. People who lease their property to holiday travelers have the added luxury of being able to use it when it is not occupied, allowing them to visit this beautiful city occasionally without paying extra for lodging.
 
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The associate director for Knight Frank France, Jean- Philippe Roux, notes that, "The preferred market for most of our foreign investors is short-term lettings in good locations that can compete with hotel rooms.” By competing with hotel rooms, owners can get very high returns on their property. The most popular places for visitors to stay and for investors are the Ile St-Louis and the Triangle D'Or between the Champs Elysées and the Seine.
 
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For the best return, a two to three bedroom property between 60 and 80 metres2 is a good size. Roux also advises buyers to get a combination of historical features and modern amenities in their property, as visitors “want a piece of Paris.” With an 80% occupancy rate, you can expect to earn an average 7% yield, well above the standard 3% yield on residential Property In Paris.
 
Other areas that currently have a good rental yield include Le Marais, in the 3rd and 4th arrondissements (or districts) and the Latin Quarter, where prices average £5,000 per metre2. The area around the Champs Elysées near the center of Paris attracts the corporate market and prices rise to about £13,000 per metre2. Areas that are up-and-coming and could see solid capital growth include the Canal St-Martin, around the Gare du Nord and Ménilmontant.
 
With a smart investment and good management, the rental market in Paris can provide a good income for a long time to come.
 
 
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