French property mortgages in Paris
The French capital of Paris is renowned throughout the world as a mecca of high fashion, romance, culture, a place of mouth watering food, of sweeping boulevards, cosy cafes and majestic architectural monuments; to sum up, Paris really does have that certain je ne sais quoi coursing through its veins, or should I say coursing through the Seine!
As one of the world’s major global cities, Paris is also one of the most populated metropolitan areas in Europe and, as such, a French property mortgage for a place in Paris is not the easiest, let alone the cheapest to come by. However, when one considers that Paris is one of the most popular tourist destinations in the world and that it has an insular city makeup (the 20 arrondissements), there will always be a far greater demand than can be supplied.
So if you’re thinking of a French mortgage for a property in Paris the first thing you need to consider is whereabouts in the 20 arrondissements you would like to purchase a property, as each area differs widely. The 4th and 5th are the quirky, student areas which have become popular in recent times. The 4th ‘The Marais’ in particular is one of the most popular areas for Brits to get a French property mortgage, usually for a small flat in the area.
In contrast, the 3rd and 6th arrondissements are on the upper echelons of the price bracket, with the 6th being the most expensive district of the capital. The 3rd is full of beautiful buildings, built around the medieval district of Le Marais. This area has enjoyed massive price growth in recent years. The 6th has long held the title of most expensive area, due in part to foreigners wanting to get a taste of the ‘real’ France, harking back to the days when the area was home to countless artists and philosophers.
The good thing about Paris is not only is it an incredibly popular tourist destination, it also has a short low season from November through to February, so for those looking to invest in a French property mortgage for a place in Paris to let out, or as second home, then it will no doubt be a stable investment for many years to come.
As the UK’s leading overseas mortgage specialist Conti is here to help you navigate through all the obstacles of the French mortgage system, so you are able to find the finance for your French property mortgage in a manner that is as safe and hassle free as possible.