What could we possibly say about the delights of Paris that everyone from travel agents to history’s finest novelists hasn’t already said before? There’s little to add, really. So let’s just keep it simple: it’s a beautiful city. It’s also one of the most popular tourist destinations in the world, with some people estimating that there are times in the year where the city is filled with more tourists than citizens!
So it shouldn’t come as any surprise that Paris is a fine place to buy and sell real estate. But you really shouldn’t get into such a game unprepared. A lot of people attempt to get into Parisian real estate – from the delightful properties in Champs-Élysées and Montmartre to the flashy apartments in the arrondissements – without being properly prepared.
Here are ten useful tips on selling real estate in Paris.
1. Consider a trial stay
If you really want to ensure success in this field, then you should really be considering a trial stay in Paris. Too many ‘savvy investors’ feel that they can win at lucrative Parisian real estate without ever really getting a feel for the country. Want the best chance of success when it comes to buying and selling real estate in France’s capital? Then you should consider a short stay in order to get a feel of the vibe, the architecture, the streets. You’ll become accustomed to what exactly people will want when living in the city, either short term or long term, because you’ll have direct experience with it!
2. Remember popular tourist destinations
There are so many amazing attractions in Paris. The closer you are to these attractions, the more your property is going to be worth and the easier it will be to find people who will either buy it or rent it. Here are just a few of the attractions you should consider:
- The Eiffel Tower
The Paris city centre
A vacation for tourists simply isn’t complete without a visit to these places. So if you’ve found the perfect place families close to the Eiffel Tower or got a place you discovered near Disneyland, then it’s very likely you’ve hit on a goldmine.
3. Focus on safe suburbs and beautiful locations
The safer that people feel at a particular location – whether they’re a solo traveler, a journeying couple, or even an entire family – the more likely it will be that they will settle at a given place. This is extremely important to consider in the world of Parisian real estate. Whether you’re buying property to let for short term vacations or long term residence, or getting a place that you’re looking to sell in the future, you need to consider safety and beauty. These suburbs, streets, and areas are great locations:
- 5th arrondissement
4. Know the importance of parking
It’s recommended that you buy an apartment in Paris with parking. Anyone who has ever visited Paris will know the importance of such a consideration. There are cars everywhere, and trying to find parking in the city can be a bit of a cauchemar! If you’re from the likes of London or New York City, then you know precisely what we’re talking about here. So finding a place that has its own parking is essential if you want an apartment that will get you a high price from those who are looking for a long term stay in France. A holiday accommodation apartment in Paris, provided it’s being used for just that, probably won’t need a parking spot quite as much, so an investment in a parking spot may end up wasting you money in the long term. But those who want to be smart and attract savvy real estate buyers to their property should definitely consider the importance of an apartment in Paris with parking.
5. Consider who will want the property
You need to think very carefully about the uses of the property that people who visit Paris are going to want. A lot of people will want to vacation in France with a holiday near the Eiffel Tower; in which case, the focus should be on an apartment for short stay with a view of the Eiffel Tower. You may want to focus on an apartment to to buy for students who are going to St Germain for a short term visit, hence you’ll need to make sure the price isn’t out of the range of an average student. Here’s a quick list of the kind of people you should be thinking about:
- Students in Paris for short term study; can be small, should be affordable
Young people in Paris for a short term vacation (they love apartments with a balcony)
Business people in Paris on business, either short term or long term
Retired people looking for comfortable long term apartments
Families looking to relocate, requiring spacious long term properties
Families on vacation, requiring something short term but still large
6. Work with local experts
Even if you’ve been around Paris for a while – and even if you’re present during the acquisition of your property or the sale of it – you should work with local experts. There are so many barriers and special considerations you need to think about; it’s best that you work with people who are experts at this sort of thing. Those looking for short term and long term apartment rentals in Paris are encouraged to contact us. You can reach us via:
- Our website
Google Plus (GlamourApartments)
VK (GA – аренда квартир в Париже)
Via email (email@example.com)
At our address (29 Rue de Lübeck 75116, Paris, France)
7. Keep the place looking beautiful
When people think of Paris, they tend to think of luxury. Beauty. They think of the beautiful, luxurious areas of Le Marais, Champs-Élysées, St Germain, Montmartre. There are vibes of extravagance and affluence in these areas; they don’t want a property that doesn’t fit in with this luxurious image. So it’s absolutely vital that you ensure the short term or long term apartment is properly looked after. If it isn’t up to scratch, then neither investors nor vacation goers are going to be all that interested. It’s true that people who are only looking for a short term stay may not care that much; they’re here on vacation, and so will probably spend the bulk of their time outside. But people who want long term apartments in Paris are going to spend a lot of time indoors; they may raise families there or have guests round. So make sure the apartment is properly cleaned and maintained!
8. Calculate your gains and losses carefully
Time to get out your calculator. There are a lot of fees you have to consider when it comes to investing in real estate in Paris. You don’t only have to consider the costs of buying the apartment in the first place. You have to consider listing fees and other agency fees. You especially need to think about taxes, especially capital gains tax when it comes to actually selling the property. Around 19% capital gains tax is imposed on those who sell a property in Paris; this goes for both Parisian residents and overseas investors. However, you need to make sure you research this carefully, as there could be regional variations, or the percentage may have changed by the time you’ve seen this article! Make sure you calculate these things carefully.
9. Make sure the property is safe and legal
The property shouldn’t just look and feel beautiful. It also has to be as safe as possible. Both short term and long term stays need to be safe, and that’s why there are a bunch of standards imposed on landlords when it comes to Parisian real estate. Whatever your feelings on such regulations, there’s simply no getting around them if you want to sell or let apartments in Paris. Here are some of the most important things you need to consider to ensure the sale or letting of your Paris apartment is safe and legal:
- Make sure there’s no asbestos
No presence of lead
Termites are a no-no
The electricity installation has to be to high safety standards
The natural gas installation must be similarly safe
An assessment of insulation and emissions must meet energy standards
Other environmental risks such as broken floors or roofs must be fixed
10. Get to know Paris intimately
Last but not least: you need to make sure you know precisely what draws people to Paris. Use a short term stay and really get to know the place. (This doesn’t mean you have to learn French… although it will certainly help!) Get to know your way around the arrondissements. Take a trip to St Germain or Le Marais. See what both the citizens and the tourists get up to. In this way, you’ll get to know what exactly people want from these properties. And, as we highlighted earlier, knowing why people want them is essential to success.
With this tips, your journey into real estate in Paris is bound to be a success.