Located on the right bank, the 8th arrondissement is known for its luxury and fashion, symbolized above all by the "golden triangle" that form the rue Montaigne, rue George V and the avenue des Champs-Élysées Here is where concentrates, the avenue des champs Élysées, the Palais de l'Élysée, or the arc de triomphe. In addition, the 8th is the refuge of many Parisian palaces such as "Le Bristol, George V", but also starred restaurants such as "Alain Ducasse" or "Pierre Gagnaire". Luxury boutiques and high fashion are also present in this borough to the delight of the foreign clientele. This borough is both a tourist landmark and a residence for the upper middle class.
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.
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.
The period between November and March in France is considered as the coldest of the year. Temperatures range from 2 to 9 degrees.Business tourism does not decline due to the coldest temperatures, however the influx of foreign tourists decreases during this period.
From April onwards, the temperatures are higher, and they vary between 12 and 25 degrees on average. During this period, the attendance is quite high because in addition to tourists from all over the world, Paris hugely welcome business tourists.
The peak season includes the months of June, September and October. At this time the temperatures are still pleasant. Moreover, it is during these three months that the tourist influx is the most important. This is due to the organization of numerous events, and other international fairs, such as Rolland Garros and the agricultural fair for example.
« Place de la concorde » starts at the foot of Avenue des Champs Élysée. It was designed and built between 1755 and 1775 by the royal architect of Louis XV, Jacques Anges Gabriel. It proposes an octagonal place of more than 84 000m2, open on one side on the Seine, and on the other, by the Ministry of Marine and Hotel Crillon (where France recognized the independence of the USA, In 1778). It was later the scene of many executions, during the period of "Terror", where a guillotine had been installed there. King Louis XIV and Queen Marie Antoinette were guillotined as well as more than 1000 royalist of the time. Its first name was "Place Louis XV", then "Place de la Révolution" and finally become "La Place de la Concorde". This name was chosen as a sign of national reconciliation between the royalist and the republicans of the time. Difficult to evoke this place, without referring to the enormous "Obelisk of Luxor", which is in its center and which was offered to France in 1831 by the King of Egypt.
Grand Palais is an emblematic monument of the city of Paris. It is recognizable by its large glass dish flanked. It was built for the great universal exhibition of 1900 and is today classified as a historical monument. The Grand Palais is divided into three major sites: the "NEF", which houses national and international exhibitions from very different universes and fields.The second part includes "The National Galleries" which offer important exhibitions retracing the history of great artists such as Picasso or Renoir. Finally, the third part, "Le Palais de la Découverte", which is a place of pedagogy and culture, where children can learn by having fun.
Arc de Triomphe is located on Place de l'Étoile at the top of Avenue des Champs Élysée. This stone monster, of more than 55m high, 45 in breadth and 22 in height, was built in order to pay tribute to the victories of the French armies and to its soldiers who died in the battle.
Napoleon started the construction in 1806, however, six years later and after a heavy defeat against the Russians, the project was abandoned. It was only in 1832 that the work was resumed under the orders of Louis Phillipe I, before being inaugurated in July 1836.
Today, Arc de Triomphe houses "the tomb of the unknown soldier" on which is lit a flame in tribute to the victims. Lit in 1923, it has since never been extinguished, because every day a public ceremony is organized to revive or rekindle it. Arc de Triomphe also offers a great 360 views of the city of Paris, accessible after climbing the 284 steps.
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....