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.”

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