_So, you want to live in Paris? Investors flock back as luxury property markets hit high notes
Recording a significant 12% price growth last year Paris was the third best performing city in Europe according to Knight Frank's annual Prime International Residential Index ( PIRI 100) which tracks performance of the world’s leading prime second home and city residential markets.
Healthy price growth is also forecasted for 2018. Global research teams have predicted a 9% rise in luxury property prices - the highest of 13 hotspots in Europe, USA and Asia.
Outperforming global gateway cities such as London (0.7%), New York (4.6%), Hong Kong (7.3%) and Sydney (10.7%) according to PIRI 100 figures, growth is likely to continue for some time; the election of pro-business Emmanuel Macron and his vow to kick-start the economy has renewed appetite for luxury property in the French capital which, adding to its winning streak, is set to host the 2024 Olympic games.
The stars appear to have aligned for the City of Light, with further positive sentiments among UHNWI's echoed through Knight Frank's City Wealth Index charting the cities that matter most to the world's wealthy. Paris ranked fifth for future GDP and seventh for lifestyle out of 20 locations - encouraging long-term prospects for UHNWIs, domestic and international buyers.
Commenting on Paris's healthy prime property markets Roddy Aris, Knight Frank International, said: "The main arrondissement to have seen the biggest upturn in values is the 16th. Under the Hollande years this this is where the main wealth exodus stemmed from. Today it is one of the most sought after locations for large, Haussmanian family apartments and private houses.
"The aspirational buyer though remains focused on the prime Parisian hotspots of the 4th, 6th, 7th and 8th. Here we are seeing prices breaking previous records on a price per sq m basis and most properties if priced correctly will sell very fast.
"The more intrepid buyer today is focusing on the 2nd and 3rd arrondissements, this is where a large number of start-up and tech companies and setting up business".
For more information on investing in property in Paris, contact one of French property experts or take a tour of some of the properties for sale in Paris currently available through Knight Frank.
One bedroom apartment in Paris 7th/Champs de Mars
Perfect 4th floor ( with lift) pied à terre, holiday apartment or rental investment in a superb Art Nouveau building close to Champs de Mars and Rue Cler.
Two bedroom apartment for sale in Paris 17th
A quintessential Parisian apartment within a stone-fronted building dating back to 1875 with original features including parquet floors, high ceilings, impressive windows and cornicing. Ready for new owners to decorate according to taste, the property has the potential to be turned into a three-bedroom apartment making it a great family home or rental investment.
The 17th arrondissement lies directly north of the Arc de Triomphe and is home to some of the best properties in Paris housed in classic Haussmannian buildings.
Two bedroom townhouse in Paris 8th
Located between the Champs-Élysées and the exclusive rue du Faubourg Saint-Honoré, this rarely available two-bedroom townhouse sits at the bottom of a pretty paved Parisian courtyard in one of the best areas of Paris.
The property's focal point is a breathtaking curved conservatory looking out over the courtyard. Modern design features include mosaic tiles, exposed beams and New York loft style brickwork. A great sized office has been carved from the basement.
The master suite benefits from an en-suite bathroom and dressing room, which could be converted into a third bedroom. A further bedroom sits on the top floor.