Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
Russian, Chinese and Middle Eastern buyers give the French prestige property market a boost
Buyers from outside Europe – notably from Russia, China and the Middle East – are snapping up French luxury homes in the absence of European purchasers.
France is one of the most popular choices for property investors from Russia and the former Soviet republics, such as Ukraine and Belarus. Mostly business leaders, they typically spend between one and 10 million euros. The main hunting grounds are the Côte d’Azur (60 percent), Paris (30 percent) and chic Alpine resorts.
2012 saw a substantial increase in demand from Chinese buyers for this type of real estate. According to agencies that specialize in prestige properties, Chinese clients have shown interest in real estate ranging from Loire Valley châteaux, vineyards and stud farms to plush Paris apartments overlooking historic sights.
Depending on their country of origin, Middle-Eastern buyers have differing requirements. The Saudis choose stylish properties in sought-after addresses, such as avenue Foch in the 16th arrondissement and avenue Montaigne in the 8th arrondissement. Purchasers from Qatar look for high-yielding investments. Those from Abu Dhabi simply target major western cities, including Paris.
Potential sellers, take note…
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