Rich foreigners pay top prices in Paris
French property agents report high numbers of overseas property buyers investing in high priced luxury accommodation in the capital city.
Despite the on-going financial crisis throughout the Eurozone record numbers of cash rich foreigners are choosing to invest in Parisian property and view the French property market as a reliable market in which to trust their fortunes.
One apartment currently up for grabs is valued at 46 million Euros but its location does provide incredible views of the Eiffel Tower – even with such a preposterous price tag it is not expected to remain on the market for long.
The majority of overseas investors buying luxury properties in Paris arrive from Russia, Brazil and the Middle East. The clamour for top notch homes in the city has helped to push prices up by more than 15 per cent in the last twelve months. Demand remains high and local agents hope this trend continues in the months ahead