Agent Reference: 7559-ParisStGermain City: Paris Region/State: 75005 Country: France Location: Urban Year Built: 2008
Type: Apartment Status: For Sale
Full Description: The exceptional development is located at the corner of Boulevard Saint-Germain and Rue du Dragon, a unique spot in a sough after area of Paris.
The converted 17th century building will offer stunning good size apartments combining authentic charm and modern fittings. And exclusive views of those intimate squares and Saint Germain Church…
Saint Germain des Prés has remained the artists district. Artists and intellectuals have been meeting in its bars, parks and squares for ages and the area still is the place to be in Paris.
Properties here are scheduled for delivery during 1st quarter of 2010. Prices for remaining properties start at 785,000 Euros for a one bedroom apartment measuring 46m2 and range to 1,598,000 Euros for a 3 bedroom apartment measuring 98m2.
Paris lovers will just adore this marvel of a development!
Please note that these properties are not leaseback properties and can be used either as a buy-to-let or a permanent home/holiday home.
Investing in Paris and its suburbs
PARIS is reputedly the most romantic city on Earth, but is there anything in the French capital that could entice shrewd property hunters in search of a profit? Property owners in and around the French capital have certainly seen a nice return on their money over the past few years.
It may not compare to the boom figures of the UK but prices have doubled over the past seven years. Last year saw a rise of 15 per cent for the capitals city centre, which was seen by many as worryingly high for a city more used to 10 per cent price increases annually. The average price of a 1 bedroom flat in Paris is now £280,000, in comparison with this development which has similar flats priced at a more realistic 200,000 euros, with one-in-five buyers being from overseas. What's attracting them? Well, although £280,000 sounds like a lot of money, Paris is still a good 25 per cent cheaper than London.
There are a lot of younger would-be buyers from the UK buying in Paris because they can't afford to get on the property ladder at home. It has become an attractive concept because it is one of the major European cities and they are spending much less than they would at home and they get a good return on their money.
Rents seem to be the key to Paris' property charms. While the buy-to-let market in many major UK cities has become awash with landlords chasing fewer tenants and lower rents, the situation could not be more different across the Channel. Higher property prices have pushed up rents in a city where young people embrace rented accommodation as a lifestyle preference not seen in this country.
Marie-Pierre Saint-Martin, a Parisian now running rental property search agency from London, explains: "As a city Paris is very, very short of rented accommodation. French people tend to buy property later than Brits. "Whereas an average age at first purchase in the UK might be somewhere around 28, it could easily be 35 or older in France. If you have a flat in Paris and you want to let it out long-term, then you will never have it empty. "You will have people literally queuing to move in. If you put a studio flat in the newspaper you could easily get 40 or 50 calls just from one ad."
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