The WPJ
Residential Real Estate News
Russians Trigger Price Hikes for Paris Properties
(MOSCOW, RUSSIA) -- The Paris residential property market has always been popular among the Russians, and will always be. Despite any economic crisis, Russian demand for the Paris residential real estate is steadily increasing.
The Paris residential real estate market has suffered less than many other European capital cities, and according to real estate analysts, prices for Paris real estate have started to recover since the second half of 2009.
Real estate analyst of Paul's Yard, one of Russia's largest realty agencies, said that the growing interest of Russians to the French property can be attributed to the fact that this year (2010) was officially declared as the Year of Russia in France and France in Russia.
Currently many Paris shops and restaurants are actively using Russian motives in their marketing plans, designs, and organizing numerous exhibitions aimed at Russian tourists. Many restaurants are now designing their menus in accordance with the preferences of Russians.
In addition, a recent acquisition of a land plot near the Eiffel Tower by the Russian government for further construction of Russian Spiritual Home may lead to further price increases for the Paris property and land.
According to Paul's Yard, the Paris apartments with the prices starting from 8-10 thousand euros per square meter in 6, 7, 8, 15 districts of the French capital currently are in great demand among Russians as well as other foreign buyers.
Most of the foreign customers considering the purchase of the Paris apartments not only for living but also for rent: the current cost of renting of a Paris apartment (with the area of 35-45 sqm.) located in the downtown amounts to 1,000 euros per week.
The lease-back deals provides a stable and secure income from real estate acquisition and saves the owner from all the troubles related to taxes, expenses for maintenance and repairs. Moreover France offers a really favorable property lending terms, even for non-residents.
Real Estate Listings Showcase
This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More