Interesting article from the Sunday Times about the Paris property market and the affect that the olympic games could have on it later this year. The feature includes comments from Home Hunts and some of our partners in Paris.

Figures from the Notaires de France show that overseas buyers in Paris in 2022, the latest year on record, reached their highest level for the past decade, a figure that Tim Swannie, the director of the property search company Home Hunts, believes will be matched in 2023. “The strength of the US dollar has also brought Americans, who have been making up for time lost during their lengthy Covid-era travel ban,” he says.

Perhaps as a result of the wide domestic and international appeal, it’s the prime end of the Parisian market that is performing best. “Prime property prices in Paris rose 2.5 per cent last year, significantly above the mainstream market, which saw a 6 per cent drop. Hôtels particuliers — large historic townhouses with gardens, which can sell for up to €80 million — performed best of all,”

Where do international buyers want to be? “The firm favourites for our clients remain the 6th and 7th arrondissements, on the Left Bank, and the 8th and 16th.” Swannie says. “That’s where you find some of the most exclusive addresses with the best shopping, restaurants and emblematic landmarks. We helped an American client purchase a penthouse in the 7th at the end of last year. Her brief was to find a property on one of only three specific streets and now we’re helping with the renovation.”

Read the full article here 

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