THE ADDRESS Magazine No12

Page 148

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aris’ allure is as enduring as ever for international property buyers as it continues to hold the title of The Most Visited City in the World, attracting more than 15 million international visitors each year. With its robust foreign demand, elegant sophistication, cosmopolitan lifestyle and transparent tax and legal systems, Paris remains amongst the elite tier of “global cities”. European buyers were the most active in the Paris luxury homes market in 2011, according to research from Knight Frank, but buyers from Russia, the Middle East and Asia increased their presence. Prices soared by 22% last year, according to Knight Frank’s Prime Global Cities Index – the highest of any city monitored – helped by demand from international buyers keen to find a base in the magnificent city. The capital provides heritage, culture and beauty, but its added advantage is that the price of prime Parisian property still represents value compared with many other key world cities. Paris is seen as a “safe haven” in uncertain times, attracting a flow of investment from those seeking protection for their wealth. Due to the strong demand from both French and overseas investors, Paris offers attractive long-term capital growth opportunities. It is a historic city, rich in culture, majestic Haussmann architecture, magnificent avenues, fashionable boutiques, traditional cafés and outstanding restaurants, all acting as a major pull factor for buyers seeking to combine property investment with a fine lifestyle. The concentrated space means property supply is limited and new-build developments are rare in the centre of the city, and much sought-after. Demand will always exceed supply due to the absence of construction of new luxury residences in the capital. Here is the first new-build development on the River Seine in 25 years, offering a rare opportunity to invest in “old Paris” in a location that affords river views. The excellent location and the striking design make it a unique proposition for luxury Paris real estate. Located in the centre of Paris on the banks of the Seine River, the new residences will be truly extraordinary. The property offers the wonderfully unique combination of waterfront living and convenient access to the fantastic restaurants, charming cafés, chic boutiques and fine culture. 148

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