It’s a question we get asked a lot – is it a good time to buy in Paris?
Kerstin Bachmann, Managing Director of 56Paris Real Estate, gives her opinion.
The latest video from 56Paris
In the latest video in our series, Kerstin Bachmann tackles that age-old question of buying property here in the French capital – is it a good time to buy in Paris?
Kerstin’s answer is always the same. It’s virtually always the right time to buy in Paris. So, the question becomes, “Is it the right time for you? Because it depends on you and your personal situation.”
Three years after Covid-19 changed the world, we are now firmly in the post-pandemic market. But when it comes to Paris property, some things rarely change.
In our city, there continues to be a constant demand for apartments. But with restrictions on new builds and the market almost exclusively made up of period properties, there is a limited supply to meet the strong demand.
This means real estate prices almost invariably increase steadily, making property a sound investment.
Property values increased 20% over five years
Property prices in Paris have resisted everything from the financial crash in 2008 to the Covid-19 pandemic, right up to the recent conflict in Ukraine.
For example, despite the politically and economically unstable situation seen around the world for the past five years, more specifically in Europe, property values in Paris have still increased by almost 20%.
From an investment viewpoint, this is a remarkable return. Even with the recent economic challenges, France has one of the lowest rates of inflation compared to other countries in Europe.
Bank and mortgage interest rates are also relatively low, now only just exceeding 3%, so it continues to be a promising time to purchase an apartment in Paris.
For American buyers, the current strength of the dollar against the euro also means your money is going to stretch even further at this time.
So, is it a good time to buy in Paris?
Back to the question that Kerstin asks in our video – is it a good time to buy in Paris?
The answer is quite simple really.
In our opinion, it’s always a good time to buy in Paris! You just have to ask yourself and think, is it the right time for you?
If it is, and you want to find out more about buying your second home here, we’re here to help.
The 56Paris team is made up of experienced realtors and experts in the local property market. Please do get in touch, and we’ll answer your questions and assist in any other way we can.