France boasts the worlds 5th strongest economic climate and is one of the most open countries in the world. It is accessible and has some great reasons why investing in this country cannot be overlooked.
Rents seem to be the key to Paris' property charms. While the buy-to-let market in many major UK cities has become awash with landlords chasing fewer tenants and lower rents, the situation could not be more different across the Channel. Higher property prices have pushed up rents in a city where young people embrace rented accommodation as a lifestyle preference not seen in this country.
Marie-Pierre Saint-Martin, a Parisian now running a rental property search agency from London, explains: "As a city Paris is very, very short of rented accommodation. French people tend to buy property later than Brits. "Whereas an average age at first purchase in the UK might be somewhere around 28, it could easily be 35 or older in France. If you have a flat in Paris and you want to let it out long-term, then you will never have it empty. "You will have people literally queuing to move in. If you put a studio flat in the newspaper you could easily get 40 or 50 calls just from one ad."
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The Investment Climate
There is no question that investing in France means dealing with the complications of the French economy: nightmarish bureaucracy...endless vacations...workers who go on strike at the drop of a béret... French ways are not quite the same as American or British ways, and you must take these factors into account when considering making an investment in France. Yet somehow France survives, and the economy is on the upswing. This is the country that introduced the word "entrepreneur" into the English language. The world's fourth-largest exporter, France has a per-capita GDP of $27,500 and inflation stands at just 2%. With last year's growth rate coming in at 1.1%, and this year's forecast to be 2.6%, the French economy has a lot going for it-including ultra-modern transport and communications systems, competitive energy costs, and an AAA credit rating.
Investment for you
On a personal level, there could not be a better time for investing in France. In the cities alone, growth rates are in the top ratings of Cities around the world. Paris for instance boasts remarkable appreciation depending on the arrondissement you choose. As it stands this quarter (based January 2009) the 19th and the 15th are the strongest arrondissements to purchase in Paris. The reasons for this are generally down to both quarters undergoing a radical face-lift and capital appreciation stands between 10-22% for the coming economic year. It is advised to know what is happening in the arrondissement you are looking at buying. Look for regeneration or well established tourist areas, good schools and universities, well established companies and shops, good transport links both around your property and to the wider field of airports and international links.