Foreign buyers are increasingly flocking to the Paris property market. During the first quarter of 2015 almost one buyer in 10 was French, according to figures issued by the notaires, officials who handle property transactions in France.

In City of Paris, foreign buyers accounted for 9.2% of the 6,830 sales of period apartments from January to March 2015. During 2014, they accounted for 8.2% of sales and during 2010 only 6.3%.

The Italians are in the lead, representing 16.6% of sales to foreign buyers, followed by British purchasers at 6.6%.

The presence of increasing numbers of buyers from Britain and America is partly due to the recent decline in the euro against their respective currencies. The euro has lost 13.5% of its value against the pound and 23% against the dollar since May 2014.

Foreign buyers have particularly favored the sought-after 4th and 7th arrondissements (districts) of Paris. The notaires say that 17.5% of sales in these arrondissements were to foreign buyers during the first quarter of 2015.

 Image © Carlav82