According to Dorothee Mare of Paris-property.com, those willing to wait some years for their project to mature should look at the up-and-coming 19th and 20th districts of Paris. For a solid investment with excellent short-term potential and good rental yields, however, she recommends the famous 8th district.

Most foreign buyers will be familiar with the 8th district, if only because it is home to such famous landmarks as the Arc de Triomphe and the Champs-Elysees. "The area is quiet and elegant, yet has some of the best private nightclubs, cinemas, theatres and shops in Paris," says Mare. "The 8th district, especially the 'Golden Triangle' of the Avenue Champs-Elysees, the Avenue George V and the Avenue Montaigne, is famous all over the world and a popular place to buy property."

If you decide to buy in the 8th district, you are most likely to be looking at period older properties. "There are few new builds in the district because there simply isn't the space to build on," explains Mare. "Most properties are traditional Parisian buildings with typical French windows, or more contemporary 1930s property." The one drawback of the 8th district is the price tag. As you might expect of one of Paris's most desirable areas, properties are very expensive. The least expensive residential area can be found around the Gare St Lazarre, which offers convenient rail connections to Normandy and the coast. Buyers should be expecting to pay approximately 6,500 to 7,000 euros per square metre in this arrondissement.

In the popular areas of the 8th, prices are much higher. "Property in the Golden Triangle will be on average 10,000 to 15,000 euros per square metre," says Mare. "In the 8th district, generally, a one bedroom apartment needing some renovation or refurbishment is likely to cost around 300,000 euros." As Mare explains, however, property in the 8th district is certainly worth the investment. "The rental market in the area is thriving," she says. "There is a real lack of property on offer compared to demand. I advise clients of mine who purchase a pied a terre in the 8th district to let out their properties fully furnished on a short-term basis."

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Article published November 2007