Owning a home in Paris like a parisian... part 1

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  • Thursday, 05 January 2017

The Eiffel Tower, Notre Dame de Paris, the Seine River emblematic sights that make the City of Lights so thrilling. Paris is timeless. It is 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 just a dream vacation destination; it also an alluring place for a second home. A welcoming city par excellence, the French capital attracts foreign asset managers looking to acquire premium real estate, as well as globetrotters and Paris-lovers of every generation seeking a short term-or long-term home away from home. The more you get to know the city, the more time you want to spend here soaking up the atmosphere in typically Parisian neighborhoods, taking the time to appreciate French art de vivre, and making the city’s unique lifestyle your own. Buying or renting in the heart of Paris… Q&A with Thierry Chomel de Varagnes, Associate Director of Barnes International.

buy-p1Why buy a place in Paris?
“Buying your own place in Paris is a decision you make with both your heart and your head. First, Paris is a city you fall in love with hanging out around Saint-Germain des Prés, visiting chic boutiques, art galleries, and historical monuments; sipping a drink at your favorite sidewalk café, doing some people watching. For all its romance, Paris is also a rational investment. Parisian has withstood the financial crisis well and real estate prices are reasonable for a city this size. Buying an apartment in Paris is a sound investment in a fluid market”.
    
buy-p2What is the ideal size?
“A good investment (and therefore the most sought-after), is an 80m² to 130m² (850 to 1400 square foot) two-bedroom apartment, with a nice living room and two bathrooms, in Saint-Germain des Prés or the 7th arrondissement. This is a great way for a couple with kids (or two couples who want to share) to get the most out of the Paris experience, under the best conditions. It’s the most sought-after asset, and the most profitable to rent out.”

But how can you take care of your place, when you don’t live in Paris year-round?
If the non-resident owners do not wish to let out the property, they can easily arrange to have housecleaning and maintenance done for them while they’re out of the country.

Can non-French owners have their asset administered for them if they’re away for a few months?
“Absolutely. There are just a few basic rules to follow for everything to go smoothly. If the apartment is rented out, either short-term or long-term, it is best to work with a specialist like Barnes. We offer convenient package deals. An owner may decide to live in their Parisian apartment just a few weeks a year, and rent it the rest of the time to earn income.”.
    
buy-p3What type 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, as soon as we’ve established exactly what you’re looking for, we start emailing you a selection of apartments with photos and detailed information. Then, when you fly over to Paris, we set up the visits for all the properties you want to see. When you’ve found the place you want to buy, we put you in contact with all the professionals you need to settle the final details (eg bankers, lawyers, insurers, architects, builders, decorators). We’ve even gone so far as to help new homeowners register their kids at the local schools!


© Picture: front and inside pages Barnes International. http://www.barnes-paris.com/immobilier-prestige

Maxime

Bonjour, my name is Maxime. I obtained my name because my grandmother always took me to Maxime’s in Paris for my birthday, always in the company of her best girlfriend! When I was fourteen years old, I was already enamoured with their Parisian chatter. Now, when with friends, I know everything about the art of invisible make-up and light cocktails! The Parisian really has a very distinct character: she’s surprising and interesting. And she’s so feminine! As for invitations, it a real task: each day Paris offers new exhibitions, previews and vernissages. With a Parisian, you absolutely have to be in the right place at the right time!

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