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The property market in Paris has been slow for several years, especially in comparison to other major European capitals such as London. However, a new report has revealed the Parisian market is recovering—so if you’re looking for a mortgage in Paris, now could be the time to buy, before prices rise further.
There are a number of potential reasons for this for this recovery, ranging from Macron’s election to historically low interest rates. Resultantly, prices are up by 5.8% in the period up to May 2017. Prices in the 1st, 4th and 5th arrondissements have exceeded their 2012 peak. However, Paris is still offering fantastic value for money in terms of European capitals; prices in the luxury market are 32% lower than in nearby London, just 2 hours away via Eurotunnel.
Only 9% of investors in the €1million and above bracket were foreign to France. Interestingly, foreign buyers accounted for half of properties in the super-prime luxury segment.
In terms of the breakdown of who is buying in Paris, it is primarily European buyers. Although London has seen heavy investment for Asian buyers, this group are less prevalent in Paris; the majority of purchases are made by British, Swiss and Belgian buyers.
If you are looking for a mortgage in Paris, we can assist you with you with your purchase. We have experience in arranging finance for Parisian property, and our excellent relationships with French lenders mean we are ideally placed to negotiate on your behalf.
We can arrange French mortgages for borrowers from around the world, and are also able to arrange a range of products depending on your circumstances. Whether you require a fixed rate, variable or tracker product, we can work with you to ascertain what will suit you best.