Luxury and prestige - what Paris is best at!

People are always asking me if the prices are dropping or going to drop at the moment. Especially those sitting on their hands waiting for their chosen currency to improve or the usual French lament that there is going to be a big crash in the property market. Don't bet on it and if you are after something special (of course all of our clients are) you should know that we have not seen any drop in prices for exceptional products in good areas. They are always quick to sell and the prices are still going up. This also applies to smaller products with charm so hold out for something with the wow factor.

The international buyer is always active in Paris; Russians, Americans and those from the Middle East - and prices in the heart of Paris continue to rise between 5 and 10%. Prices for run-of-the-mill (or just plain ugly of which there are legion in Paris contrary to popular belief) properties have stagnated slightly in the second half of 2007 but good products in les beaux quartiers (1, 2, 3, 4, 5, 6, 7, 8, 16, South 17, Neuilly, Boulogne and Saint-Cloud) have continued to perform well.

Paris is still la plus belle ville du monde, with history, museums, ancient mansion houses (hôtels particuliers), and an incomparable heritage. Coupled with the fact that in terms of cost for a world capital, it's still comparing favourably to cities like London and New York City.

Exceptional products and areas (really prestigious addresses) at around 15 000 euros per m² would be double this in London and in Moscow around 40 000 euros per m². The best buys would be a classic Haussmannian property (until around 1930) or a prestigious apartment within or near a hôtel particulier where there is a history attached - the Marais is of course the place for these.

Good luck, and call us if you need some help to track these places down because once they are on sale, the good ones don't last long!