With the ongoing crisis always present in one's mind, it is clear why many people are afraid to invest in the unpredictable stock market where drops are likely to continue into the New Year. Real estate has plummeted across the Western hemisphere, jobs are being lost daily in the tens of thousands and the currencies market is acting like it never has before. The feeling at the moment is that it’s good to have cash on hand and that really no investments are safe. However, in Paris France real estate remains one of the best long term investments that is not being hurt by the crisis.
With strict lending laws and already overflowing demand for property, this market is staying afloat during these difficult times. Some journalists point out that property prices in Paris have recently declined by 1.5% but it is important to understand that this is merely the average price in Paris. Furthermore, while bad quality apartments with obvious defaults are lowering in price, the central, well-kept apartments are still going up. This is creating a disparity that did not previously exist, between quality apartments and apartments with defects within the same arrondissement. Many believe that it is a healthy adjustment for the Parisian market and while transactions are falling due to a wait-and-see trend, prices continue to rise.
This chart further explains what’s happening concerning individual apartments throughout Paris:
It is no secret that quality apartments in the centre are excellent investments; therefore these apartments are in high demand. It’s not easy to sort through all the lower quality properties in order to find a truly spectacular investment. However, as you can see from the chart above, these top end apartments are well worth the effort. Prices in Paris continue to rise, in some cases as much as 15%, and it is still a good time to purchase your dream apartment in Paris, a long term investment that you will not regret. Therefore it is necessary to have the upper hand in finding such gems, perhaps through a Property Search Expert whose job is to track the market and make sure that you are one of the first people to view the nicest apartments. Ideally, your property search expert is positioning you to visit the absolute best on the market and guaranteeing the best investment advice. In a time when nothing seems dependable, investing in stone, in history, may be the way to go.
