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District XVI


France - Paris

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District XVI - Paris

Unknown to many Parisians, the 16th is one of the most pleasant districts of the Capital in terms of quality of life. Located on the fringes of the Parisian festivals, it offers a certain tranquility in a city in perpetual movement. It is also the biggest and greenest district, and there are many gardens and parkland in which it is pleasant to walk. The district is certainly residential, but also very visited by tourists in search of museums and other remarkable places.

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Market Overview

The luxury property market remained strong during the year of 2016 and the trend is expected to extend to 2017.

The end of 75% taxes and the readjustment of prices of luxury real estate were triggers of this renewed attractiveness in Ile de France. 

Moreover interest rates are still attractive and estimated at 2.19% in January 2016. Paris also benefits from a favorable price differential compared to other capital of luxury real estate like New York, Miami or London. Maintaining the euro against the dollar helps to maintain the purchasing power of non-European customers.

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Buying basics

A company or an individual investor wishing to acquire a real estate will follow the following procedure: First, there is the promise of sale which is signed between a buyer and a vendor. Then, the buyer usually places a deposit of 10% of the property price in the hands of the notary. This security deposit guarantees the buyer's commitment. If the buyer cannot purchase or does not wish to continue with the purchase anymore, he loses the 10% he has paid which, are given to the seller. The notary then collects various documents (entitlement of the parties, mortgage situation, town-planning, property verification...). After the notary has collected all the documents, the Final Sales Agreement is signed. It is a deed and is almost indisputable in court. French law imposes various taxes, such as the local property taxes and the wealth tax. To benefit from some tax or succession measures, it may be interesting to manage a property through a SCI. A SCI requires no minimum capital. Whatever the nationality of the buyer, any individual or legal person may be involved in a SCI. The SCI provides an interesting inheritance tax planning tool for families.

Agents in District XVI

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Paris
Hotspots in Paris

Paris is the French capital, its agglomeration includes more than 20 million inhabitants. Paris is at once the economic, political and cultural capital of France. The capital is full of famous places such as "The Eiffel Tower", "Triumphal Arch", "Notre Dame Cathedral" or "The Louvre Museum". Paris is the third world touristic destination in 2016 behind Bangkok and London. Paris is a very popular destination for investors, it is quite possible to enjoy a prestigious property in Haussmann-style buildings, or a property that overlooks the “Jardin des Tuileries, the “Palais Royal” or the edges of the Seine.

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