The Eiffel Tower, Notre Dame de Paris, the Seine - these are just some of the iconic sights that make the City of Light so fascinating. Paris is timeless. It's the city of fashion, art, culture, glamour and romance. Paris, sang Maurice Chevalier, "will always be Paris, the most beautiful city in the world". Paris is not only a dream vacation destination, it's also an attractive location for a second home. A welcoming city par excellence, the French capital attracts foreign asset managers looking to acquire quality real estate, as well as globetrotters and Paris lovers of all generations looking for a short- or long-term second home. The more you get to know the city, the more you'll want to spend time here, soaking up the atmosphere of typical Parisian neighborhoods, taking the time to appreciate the French art de vivre and embracing the city's unique lifestyle. Buying or renting in the heart of Paris... Interview with Thierry Chomel de Varagnes, Associate Director of Barnes International.
Why buy an apartment in Paris?
"Buying your own apartment in Paris is a decision you make with both your heart and your head. First of all, Paris is a city you fall in love with while strolling through Saint-Germain des Prés, visiting chic boutiques, art galleries and historic monuments, sipping a drink at your favorite sidewalk café and people-watching. For all its romanticism, Paris is also a rational investment. Paris has weathered the financial crisis well, and property prices are reasonable for a city of its size. Buying an apartment in Paris is a wise investment in a fluid market".
What is the ideal size?
"A good investment (and therefore the most sought-after) is an 80 to 130 m² apartment with two bedrooms, a nice living room and two bathrooms, in Saint-Germain des Prés or the 7th arrondissement. This is an excellent way for a couple with children (or two couples who want to share) to make the most of the Parisian experience, in the best possible conditions. It's the most sought-after property, and the most profitable to rent".
But how do you look after your property when you don't live in Paris all year round?
If non-resident owners don't wish to rent out their property, they can easily arrange for cleaning and maintenance to be carried out for them during their absence.
Can non-French owners have their property administered for them if they are away for a few months?
"Absolutely. There are just a few basic rules to follow to ensure that everything runs smoothly. If the apartment is rented, whether short or long term, it's best to work with a specialist like Barnes. We offer practical package deals. An owner may decide to live in his Paris apartment for only a few weeks a year and rent it out the rest of the time to save money".
What kind of services can an agency like Barnes provide to simplify the purchase?
"Barnes can manage the acquisition for a foreign buyer from A to Z. In other words, once we've established exactly what you're looking for, we start e-mailing you a selection of apartments with photos and detailed information. Then, when you arrive in Paris, we arrange visits to all the properties you'd like to see. Once you've found the apartment you want to buy, we put you in touch with all the professionals you need to settle the final details (bankers, lawyers, insurers, architects, builders, decorators, etc.). We've even gone so far as to help new owners enroll their children in local schools!
Photo: © Barnes International
