Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
The latest research shows that Paris occupies 2nd place among 100 European cities for commercial property demand, just after London. This is one place up from the city’s ranking in 2013.
La Poste du Louvre, the post office on the rue du Louvre, is to be redeveloped to include a luxury hotel. Not only is the post office the largest in France, but it also stays open almost 24 hours every day – useful for those who have waited until the last minute to file their […]
Paris is one of the most visited cities in the world and it’s famed for its opulent hotels in top locations. But growing competition in the luxury hotel market means that Paris hoteliers have had to stay one step ahead of the game.
A recent survey shows that investors plowed €16 billion into French commercial property during the first three quarters of 2014. This is an increase of 45% over the same period in 2013, and already 5% more than the total amount invested last year.
One of the largest Canadian pension funds has acquired a property in Paris’s rue Blanche (9th arrondissement – district) from the Carlyle Group for €263 million.
The Arche de la Défense is a distinctive sight on the Paris skyline and one of the emblems of the city. This enormous glass and marble cube is 25 years old this year and is about to undergo a major face-lift.
According to recent research, investors paid €10.7 billion euros for French office, retail, logistics, and industrial properties between January and June 2014 – an increase of 73% over the same period in 2013.
The French State is one of the biggest holders of state-owned property in the world. It held €59,384 billion of real estate at the end of 2013 and continues its policy of divestment. In 2012, its property assets were valued at €60,064 billion.
Sales of famous Paris hotels continue apace. InterContinental Hotels Group (IHG) has recently agreed to sell the Le Grand hotel to the Qatari group Constellation Hotels Holding Limited for €330 million. The hotel currently has 470 guest rooms, including 70 suites. Constellation plans to renovate Le Grand at an estimated cost of €60 million.
The world’s biggest sovereign investment fund, Norges Bank Investment Management, has bought Le Madeleine building in Paris for €425.6 million ($570 million) from a fund managed by Blackrock Inc.