Following on from yesterday's Paris property market blog post
, today we look at which Parisian arrondissements are up for regeneration with future property profit potential. Each of the zones within this snail shell layout benefit from their own character and cultural offerings and much like London are mini cities in their own right.
The 18th arrondissement
is one such zone with planned regeneration in the pipeline but buyers beware! Whilst the 18th does have one of the lowest prices per m² (4671€/m² in stark contrast with the most expensive, 6th arrondissement almost double at an average of 8088€/m²), the area is still home to certain neglected neighbourhoods known as dangerous and downright dodgy. However, this should change in time given the City’s plans for renovation of the Porte de la Chapelle-Porte de la Villette area. Development of the tramway and a new RER (main line) train station will render this area accessible and popular.
is the cheapest in Paris with an average price of 4252 €/m2 and although is said to be “quartier populaire” (roughly translated as “lower-income multicultural urban area”), it is also an area that experienced a 20.6% increase over the last year. Incidentally, this growth is namely due to young first-time buyers many of whom are aiming to ditch renting in favour of paying roughly the same amount on monthly mortgage payments. Revitalization of the Boulevard Jean Jaures and close proximity to the highly popular Parc de la Villette and Canal St Martin/Villette/Ourcq are factors that have encouraged buyers
and renters alike. Premier Paris apartments developer Kaufman & Broad
have acquired a site for an off plan property development called Opus Verde offering new build apartments in a prime 19th location close to metro stations Laumière and Jaurès, definitely one to watch.
Another arrondissement that has a lot of potential is the 13th
whilst one part is densely packed with high rises and a thriving China Town there is another facet emerging slowly
but surely. This contrasting neighbourhhood is almost a kind of trendy, middle-class band of the population, who are all looking to live in the very popular area Bibliothèque François Mitterand, which serves as a base for many large companies such as SAP, Accenture and Orange but whose space offers a range of activities and family-friendly leisure options with the infamous floating swimming pool on the Seine complemented by 'Paris Plage' in the summer and the newy youth oriented Simone De Beauvoir footbridge
. Close by there is an
excellent cinema complex and an assortment of bars and restaurants around Avenue de Choisy and the village-like Butte aux Cailles. Here, together with other french new build developers, Groupe Arc has seized the occasion, and proposes Résidence Ar Men
, backing onto a future public park and 100 yards from the future campus of Paris VII University
Finally a look towards the outskirts of Paris, there are various disaffected industrial areas that are currently being razed to make way for new housing. Here, just a few areas are worth consideration: Ile Seguin (land that previously belonged to Renault, nr Boulogne Billancourt), ZAC Paris Rive Gauche (opposite the Ile St Germain on the River Seine, nr Issy-les-Moulineaux) and finally ZAC des Batignolles (17th arrondissement).
Paris real estate looks set to be a safe long term bet for the future, an innovative nation aiming to constantly improve the quality of life for its people, Paris property has strong investment potential.
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