In a recently conducted study, Paris has been announced as the second most desirable city in Europe for the most discerning ultra-high-net-worth individuals when it comes to the luxury property market. The insightful study was developed by estate agency Knight Frank.
Last year, apartment prices hit an all-time record high in the French capital and it is actually the 12th overall city around the world. The luxury property sector is in a league of its own and has gradually adopted the codes of the luxury world, which are generally founded on superior quality, exclusive membership, loyalty to clients, and countless others.
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“The French capital is on the radar of investors around the world again, especially those from the United States, the Middle East and Europe,” disclosed Knight Frank.
Without no surprise, the 1st, 6th and 7th arrondissements of Paris are the favorites amongst the ultra net-worth individuals, however, the 10th arrondissement has been showing a lot of growth and is quickly becoming one of the gentrified areas of the city, as Frank explains, “With its ‘superb period buildings’ and its lively streets, the 10th arrondissement seduces a ‘young and trendy population’, while ‘the wide boulevards, footpaths, bars and restaurants along the Canal Saint-Martin (…) create a particularly pleasant and varied neighborhood.”
As a matter of fact, those who are looking towards buying a property in Paris really need to dig deep as they are now valued at more than €9,00 for every square meter.
Source: The Local FR