The Expert Property-Finding Service for Paris
House Hunter:
Marie-Pierre Saint-Martin finds the right property for you
'I'd like to buy a flat to let in Paris'
 Extracts from an article in The Independent, Property,
Wednesday 25 June 2003
Sally Partridge has just had a baby and wants to buy a flat
in Paris as an investment, though she may live there one day
'I am very familiar with Paris as I lived there for a year while I studied
French at
university. I am interested in the rental market in Paris and ideally want to buy
a studio in an area
where house prices are not sky-high. Ideally I would like it to be somewhere
that would
appeal to a young professional or student. I want to rent the property out as soon as possible. I would like some advice on financing the purchase and also would like
to know if this
is a good move and if I will be able to make a decent profit?'
THREE PROPERTIES FOR SALLY TO VIEW
Property one: Rue Hermel 75018 Paris. Studio flat of around 23 sq situated in a beautiful
19th-century "Pierre de Taille" building in the north Montmartre
district,
which is less touristic.
Property two: Rue Guillaume Bertrand 7501. Large studio flat of around 27sq m in a Seventies
building near to the trendiest road in Paris at the moment, the Rue
Oberkampf, and just 10 minutes walk from Le Marais. It's near a "grande école" and is a very safe area
for students.
Property three: Rue Rambuteau 75003 Paris. Small studio flat of around 15sq m with a
balcony. In a
fantastic central position, just between Les Halles and the Centre
Pompidou.
MARIE-PIERRE'S ADVICE
'I would say that
this is a very good idea. The only difficulty with buying in Paris
is that each agent covers only the
small area around their particular office and, as there are more than
2,000
estate agents in Paris alone, you need to visit dozens before you even
find
two or three properties in your price range.
' You may need to spend weeks there looking and if you have no time you
may as well forget it. Most of my clients are busy people and many don't speak French and most Parisian agents don't speak English,
so without me they wouldn't be able to buy. Sally had some concerns
about the buying process, but it's much more straightforward than in
England. Once you've signed the initial compromis de vente, there
can be
no gazumping, so it's much less stressful than it is here.
'I
know Paris very well, having lived there for many years, so I'm able
to help
find the best places, both for investment and for pied à terres.
All of the
properties I showed Sally are in areas which are ideal for students,
either
very central or close to universities and Paris is very short of property which is suitable
for student
accommodation. There is usually a queue of around 30 possible tenants
for each flat, so she will have no trouble at all letting to a good
tenant
and
she will definitely get a good return on her money.'
SALLY'S VERDICT
'Marie-Pierre was fantastic, very friendly and personable, which
was great as it wasn't easy house hunting in Paris with a small baby
in tow!
'I speak fluent French, but I would recommend Marie-Pierre even to French
friends, as she knows so much about the whole buying process and really
knows the market over there.
'Had I done this alone it would have taken a lot longer, but Marie-Pierre
showed me a good range of properties which helped me to decide and I've
now bought property number one. She also helped me get a mortgage by
recommending an advisor, so I'm absolutely delighted with my investment
flat which will make a great pied à terre. She is wonderful.'
Interviews by Ginetta Vedrickas
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