Paris: the lovers’ favourite

Up to this day, Paris still remains to be the world’s most romantic holiday destinations. In a recent Homebuyer Show poll, the French capital was closely followed by Edinburgh and Cote D’Azur in the south of France. This poll emphasizes the fact that property investors should be wary not only of the rate of capital appreciation but also its rental potential.

The poll also shows that France is the world’s most popular tourist destination. About 78 million people visit the country over the course of 2006. Paris remains to be one of its main cultural assets.

The Eiffel Tower and the Arc de Triomphe are iconic symbols that tourists visit in droves. Paris’s popular cultural and artistic centres make Paris a dream destination with the Sacre-Coeur, the Louvre and Notre Dame Cathedral among others.

The Royal Institution of Chartered Surveyors recently estimated that French house price inflation is continuously increasing at 7%. Knight Frank put annual prices as going up by 8.9 % in the third quarter of last year. This illustrates the fact that investors are in for high returns on investment in terms of asset growth.

But tourist demands adds an extra facet to its property, one that is rarely found outside of Europe’s largest economies. For instance, investors in Eastern Europe are presently experiencing difficulties in securing lucrative rental yields as supply of homes is surpassing tourist demand.

Meanwhile, the Cote D’Azur also ranked high. This shows that warm weather may add some spice to romantic relationships. Martin Sadler, sales manager of Assetz France, also adds that the coast’s pristine white beaches, trendy stores and internationally renowned restaurants are favorite tourist drawers. “The French Riviera is still one of the most popular tourist locations and offers excellent potential for holiday lets with high rental returns,” he explains.

Posted on: France

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Paris: the lovers’ favourite

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