Lately, the Parisian real estate market shocked everyone by tremendous trading of its objects. Housings and residential buildings are sold in 24 hours, and this flow does not stop. Some statistics connect this event with the consequences of Brexit. Due to this fact buyers are mostly from Great Britain.
Why Capitals’ Real Estate Is Gaining Popularity Now?
Trustful sources as The New York Times claim the suburban areas can now boost the luxury segment. As well, it concerns the districts with the new modern buildings. People prefer to live in such distance residential areas over the central areas. Besides, the prices and low rates on mortgages there attract the British. They are eager to leave their country.
The fear to be deported due to their political disobedience is one of the reasons. Such phenomenon experts link to the much-anticipated UK exit from the EU. Otherwise, it refers to the possible fall of their currency. On the other hand, the French are still longing to buy property in Britain.
New residential buildings, family-type houses are mostly sold out. The local realtors have a very profitable selling season. The 6th, 7th, 8th housing districts have already reached the overpopulation. Even though the rates there are very high. According to calculation, new prices in luxury areas start from €14,000 per square meter.
Comparing to January 2015 when the realtors were able to charge only €11,300. So, the British should hurry up selecting the available objects. Otherwise, they can choose the houses in the 19th district. It is the most accessible area left in Paris, the average rates there start from €8,350 per square meter.
Who Are Other Buyers of Parisian Property Units?
They are tourists who come for investments and foreigners from neighborhood countries. Citizens of the USA, Qatar, Saudi Arabia, Germany, and even Switzerland want to buy real estate as well. The purchasing process for them is facilitated. Thus, they do not waste their time on long-hoped for permissions, and other documents.
The only issue they face is mortgage loans. This process takes approximately 2 months and the amount of loans is limited. It differs from 50% to 70% of the value of the real estate. If buying without this loan, the process can take less than one month.