Guide to Real Estate in Paris
Table of Contents
Potential buyers have a stunning range of possibilities when searching for apartments to buy in the city of light. Paris is a beautiful haven of new homes that offers a brilliant choice of different neighborhoods, environments, and prices. If you search the market, you are sure to find your perfect apartment for sale sooner rather than later. However, to do this, you will need to use the services of a skilled estate agent. There are just over 3,600 estate agents in Paris such as Allianz Real Estate France Paris, so you have a huge selection of choice. To find the right apartment, you need the right estate agent.
Agencies offer a number of different services to those looking for the perfect apartment or flat in Paris.
Location, Location, Location!
First and foremost, the main job of a real estate agency in Paris is finding the perfect location for the buyer. There are so many different opportunities when choosing a place to live in Paris, and it can get a little overwhelming. But each buyer or customer has their idea of a dream place to live. They might, for instance, want an Eiffel Tower view which is an option if you can find the flat or condo for the right price. There are a number of different neighborhoods and arrondissements in Paris. Loosely translated into English, the arrondissements are the boroughs of the city. They all have a distinct feel and personality. An agent can help you decide which arrondissement would be best.
Knowing The Arrondissements
The 6th arrondissement, for instance, contains the beautiful Eglise Saint-Germain-des-Prés, the oldest church in Paris. Though, like all the different parts of the city, there’s a touch of everything here. You’ll find bustling streets and a broad range of pricing for accommodation. There are also plenty of cosy cafes and places to drink of a summer afternoon in the city.
In the 7th arrondissement, you’ll find one of the most expensive places to live in Paris. However, if you have the capital it could be the ultimate place to buy, and estate agents know this. They often recommend luxury apartments in the 7th arrondissement to some of their wealthiest clients. If you purchase a property here, you’ll be closest to some of the most famous landmarks including the Eiffel Tower.
This is just scratching the surface of the 20 arrondissements that make up Paris. Agents know them all, as well as the pricing in different areas and can find the right fit for the right client. For instance, if you are interested in living close to the Montmartre, an agency would seek out a property in the 18th arrondissement. Or for a client seeking out a cheap property near the Le Marais, they would scout the 3rd and 4th arrondissements.
First Come, First Serve
The real estate market in Paris is incredibly competitive. If one client passes on a property, there will be another working with a different agent, who will snap it up straight away. As such, you need to know exactly what you’re looking for and how much you’re willing to pay. Estate agents know the prices 2017 for different arrondissements, and they are also fully aware of the type of neighborhood without having to look around. So, with a listing, they can tell whether an environment will suit a specific client. If it doesn’t, they won’t waste time with a viewing. Instead, they’ll look for another property they know that the client will fall in love with. As soon as they find it, they’ll be able to recommend it straight away. The best agencies may even put an offer down and secure the property. Or, if it’s for rent, they will express interest of the client to the owner. They may not even need to speak to the customer before they do this because they will be confident they have found the right property.
The Right Time
Agencies also take on the role of making sure that clients are buying at the right time. To do this, they will look at the forecast for market 2017. As well as this, they may examine prices 2017 and compare them to previous years. They need to make sure clients will not be buying or investing at a time when they will be over-charged. Agents will also examine whether it is the right time to buy in certain areas of the city. They will look for signs of growth on the market as well as falling prices when seeking apartments for sale. Agencies can keep a check on the state of the market by:
- Looking at news reports
- Comparing areas
- Viewing statistics
- Analysing market trends online
- Working With Other Agencies
It is important to realise there is no MLS (multiple listing services) in France. This means that without an agent you would have to use the services of multiple estate agencies to see the full list of properties for sale. But as we mentioned, there are over three thousand of them in the city of romance alone! So, it would take you quite a lot of time and a considerable amount of effort. That’s why one of the jobs of the estate agent is to work with other agencies to gain access to other listings. They work to check out the listings for clients and ensure that they do get access to the full market. Finding the right home in multiple listings can be difficult, particularly if you don’t speak the native language. So, agency workers will also regularly go out and view the properties for their clients as well. If they find one they think they’d like they’ll recommend it straight away. Without an agent, you’ll find navigating the multiple listings incredibly difficult.
It’s not just the different estate agency luxury listings that need to be checked either. Agents will look at other sources as well such as:
- Blog Listings
- Private Sellers
There have been multiple attempts to create an MLS in France, but thus far no system has survived. This is what makes the Paris real estate market 2017 so competitive for potential buyers and renters.
Finding Fresh Opportunities
The city of Paris is never dull or, dreary, it is always alive and vibrant. The same is true for the property market because it’s always thriving with opportunity if you know where to look. There are constantly plans afoot for a new development that could be of interest for buyers and renters. Agencies always have their ear to the ground and find out immediately if such developments are in the pipeline. They’re not just looking in the center of the city either. Agencies will also be looking at apartments for sale and real estate near Paris France. They always want to make sure that they aren’t leaving anything out for their clients. This also includes commercial opportunities such as potential investments.
Keeping In Touch
A lot of people looking for properties in Paris won’t be local. Buyers come from all over the world like places such as Fresno to purchase property in this beautiful city. As such, it is important that clients can stay in touch with the different agencies and companies they are using. Or, get an alert if there is a property conference that they may wish to attend. Thus, part of the job of the agencies is to stay in touch and update on the market 2017. Most agencies now do this through social media such as:
Handling The Purchase Process
As with any real estate market, the purchase process can be tricky. This is particularly true if the client only speaks English because it’s possible that the seller only speaks French. If that’s the case, you will need someone in the middle to fill in the gap. This is the role the estate agent provides. If a property is for sale by owner, their first step will be to enquire and possibly even arrange a viewing. If the potential buyer is unavailable, they might attend the viewing themselves and report back. If the buyer wishes to make an offer, this will be presented by the agency.
Buyers may not wish to get into the complex details of a purchase and often want it to be as simple as possible. But the market 2017 can be tricky, and buyers always need someone to look after their interests because things can go wrong. For instance, a buyer may want to put the property up for rent on they have purchased it. Unfortunately, after they purchase they could discover that rentals are not allowed under the regulations of the building. Any commercial use might be forbidden, and this is why an agency will act as a guide through the purchase process across the board.
They will handle a number of different jobs such as:
- Speaking To The Owner
- Placing An Offer
- Handling The Paperwork
- Checking For Any Legal Issues
After The Sale
The job of the estate agency isn’t over once a property purchase has been made. The owner might want to put the property up for rent immediately. To do this, it needs to be added to listings luxury of apartments for sale. The new owner may also need help looking at prices on different commercial improvements they can make to the property. Many new owners are buying purely for investment purchases so finding the right prices is always going to be important. As such, an estate agent may fill a number of roles after the sale such as:
- Advising the new owner on the best improvements
- Finding potential renters for their new property
- Representing them on the market
As you can see, Paris estate agents fill a number of roles through the property purchase from finding the right location to getting the apartment or flat back on the market.
Real Estate Investing
Real estate investing is always a way to deposit safely and get a profit. Low risks compared with the investing in bank shares or bank interests to open a deposit account make investments in real estate more attractive. You want to ask why? First, the demand for real estate is permanently growing. Consequently, residential and commercial property is constantly going up in price. Moreover, a big city is the best place to buy real estate. Everyone knows that the liquidity in the big agglomeration is higher than in towns of the regional importance.
The easiest way to invest in real estate is to buy something with subsequent lease. This method is particularly attractive because it is the simplest and the safest way to invest money. The meaning is clear to everyone who even has no relationship to business: you need to buy a flat , and then – to hire it out. Thus, the apartment repays a loan by itself. Of course, there are also features that are important, while choosing an apartment: the neighborhood, the cost of repairs, presence or absence of furniture. But even with all these complexities it’s quite difficult to be mistaken and lose money.
Real estate in Paris: apartments price
According to a research by LPI-Se Loger, average cost of residential real estate in Paris in October 2017 was 9,170 Euro per square meter. At the same time, in other regions of France the price of a “square” in the apartments is only 3970 Euro. As for the metropolitan city, this level is a new record!
Average annual increase of the cost of apartments in Paris – not less than 8% per annum, and this applies to all 20 districts of the city. By the report, the 4th, 6th and 18th districts are leaders in the price growth on the market of residential real estate.
For comparison, only in April 2017 an apartment in Paris costs by 5.5% more than in April 2016. Why do we watch a permanent rise of prices? First of all, real estate in Paris is becoming more expensive due to very high demand (which, by the way, does not decrease even with the increase of construction of new facilities). According to analysts, a big influence on this was election of the capital as the venue for the Summer Olympic Games 2024.
Among other things, profile of the buyer who wants to buy an apartment in Paris has changed. Average cost of the apartment on the market is now almost 450 thousand Euro. Consequently, majority of buyers is celebrities, top managers and other high-ranking persons. Simple employees and workers can buy residential property in Paris very seldom. If in 2016 there were 13.9%, then already in 2017 – only 6.8%.
Predictions suggest that prices will continue to grow. And, perhaps, it is not too late to invest in residential real estate in Paris.
Want to buy apartment in Paris – contact the real estate agency Glamour Apartments!
Romantic travel: rental apartments in Paris as alternative to hotels
What is most important in romantic trip to the City of Love? Of course, except the love itself. The main is to choose a suitable and cozy “nest” where you would not have to worry about household chores and where you would not be disturbed by neighbors or servants once again. Obviously, the hotels, filled with noisy romantics from around the world, are not very good for it.
You understand that especially well when there is an ideal alternative – apartments in Paris for rent. You can ask about the options? A great number! From inexpensive but comfortable studios to luxury apartments worthy of king and queen. From apartments in the heart of this romantic city near the main Parisian attractions and numerous cafes where your favorite writers liked to drink coffee to mansions in the picturesque quiet suburbs of Paris.
It does not matter whether you want to rent a lux apartment in Paris or rely on a more modest spending – you can always find exactly what you want.
You can choose an apartment in all districts of the city with any design and equipment. In a modern building or in a historic building with a rich history. With a view of Eiffel Tower or a quiet courtyard. There are many options, so it’s possible to embody practically your every whim.
The cost of rental apartments in Paris varies from “low cost” proposals (300-400 euros per week) to exclusive, available not for everybody. In any case, you will always find a cozy or posh, or both together apartment, the rent of which would be comparable to cost of hotel rooms, and often much cheaper.
It’s important to know that to rent apartment in Paris is not more difficult than to rent a room at hotel. And in this apartment you will have all needed for a pleasant stay – comfortable furniture, electronics and household appliances. Internet access is also offered for those people who have even during romantic trip to feel uncomfortably without Internet.
That’s why rental apartments in Paris become more popular among travelers from around the world. This service – just what can help lovers to make the trip to Paris memorable, not overshadowed with anything – except the transience of time. In any event, sooner or later a person will need return to the “real world”, its problems and concerns.
Nevertheless, you will not have to throw a coin into fountain to come back here. After a few days in this paradise on the earth you will do everything to get back here again. And Glamour Apartments company will always help you with to choose rental Parisian apartments for comfortable stay.
Price restriction for rental apartments in Paris
For last years the price of rental apartments has grown up actively in all the big cities of Europe, and Paris was on the top positions on this list. Of course, first it was a result of common trends, but also because a Paris’ status as one of the most popular touristic places in the world. Owners of residential real estate do everything to increase income of their property.
Sure, as for an average person who comes to the French capital on vacation or just needs an accommodation for permanent residence, such prices hike becomes more and more big problem, especially taking in mind consequences of the world financial crisis.
And here this last news from Paris can be taken as a breath of fresh air. On August 1, 2015, the new regulations, directed to price restriction for rental apartments, will come into force in the city on the Seine. It must be said the the Paris mayor Anne Hidalgo is an active supporter of this initiative.
Under the new document, owners of residential real estate will not have a right to set a rental price over an average price with a markup (set for every area) increased by 20 per cent.
Supervisory committee of OLAP has made a calculation of basic numbers for 2015 in 80 areas of Paris, grouped into 14 separate zones by 16 types of property (number of rooms and the date of construction).
All the accurate prices you can find on the special site of DRIHL (Regional and Inter-Parliamentary departments for housing problems).
Our agency hope sincerely, the new regulations to help making up more true and affordable price on Paris market. And we, on our part, will be able to offer our clients comfortable and inexpensive apartments in Paris for rent and make your stay in this admirable city more pleasant.