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Buying Real Estate : In Paris or in The Nearby Suburbs ?

Posted by Michel on July 6, 2021

Dream accommodation can take on various appearances: tastes and colors … But for those who wish to make a reasoned and efficient real estate investment in terms of living comfort and long-term profitability, the equation can be complex in the Parisian region. In order to live there or to rent, the buyer will have to ask the right questions and do according to his needs or his budget. Buy in Paris or in the nearby suburbs? Everyone has to provide their own answer according to different criteria.

A question of budget

Prior to any other consideration, the budget will define the options accessible to the buyer, based on the location chosen. Paris is, predictably, costlier than the neighboring suburbs, which often enable you to build a few metro stations from the city for a lot more affordable price.

For example, before the health crisis, the price per square meter in several towns, like as Clichy-sous-Bois or Villepinte, was over € 2,000. Other cities, like as Nanterre or Arcueil, provide housing for approximately € 5,000 per square meter, compared to Neuilly-sur-average Seine’s of € 10,000.

Prices in inner Paris start at € 9,000 per square meter in the least costly neighborhoods (with few outliers) and may reach € 16,000 per square meter in the most fashionable districts, such as Saint Germain des Prés or the Champs-Elysées.

Looking for the cheapest may not be meaningful even from an accounting standpoint. Because of the mismatch between a restricted supply and an exceptionally high demand, prices in Paris have been steadily rising, making it possible to see increased value even in the near term, and ensuring a rapid and simple resale in the majority of situations. If the funds are available, Paris appears to be the better alternative.

Adapt your project to your real needs

It’s admirable to want to make the finest investment, but it also has to satisfy the demands of the buyer’s everyday life – as an owner-occupant, of course. Several perspectives must be examined on this subject.

First and foremost, the size of the property: a family of two children would struggle to squeeze into a two-room flat in Paris, but the suburbs may provide two more rooms or even an outside for the same price. A properly spacious living area is vital for well-being, as the confinements encountered since March 2020 have plainly proven.

The buyer must consider the surroundings as well as his whole lifestyle in order to choose the sort of neighborhood that would best suit him. A bustling area provides for quick departures on foot, but it is not advised for a noise-sensitive resident. Convenience shops can be valuable to certain people since they reduce the need to possess a car. Dog owners should make sure there are plenty of green places around.

Everyone may then choose to be closer to various facilities, such as Seine quays, sports halls, universities, and so on, according on their preferences.

Finally, Paris will be a better place to look for work. In this situation, a suburban resident must tolerate a lengthier trip time to get there, especially if traffic is bad or public transportation is congested. The purchaser may or may not opt to relocate away from his location of employment, depending on his schedule and desire to travel.

The comfort of life

In this regard, Paris receives overwhelming support from people seeking a nightlife filled with bars and restaurants, museums, opera theaters, and movies, as well as luxury stores and universities. The many districts and districts provide a variety of lifestyles, owing to busy or quiet streets, diverse architectural styles, a diverse cultural offer, or even the existence of large open spaces.

Many cities in the suburbs retain the character of dormitory towns, which will be unsuitable for a population seeking permanent activities. It should be emphasized, however, that an increasing number of towns are reinventing themselves and expanding their infrastructures: a vitality that makes them more appealing and activates a virtuous loop of new residents who contribute to new growth opportunities.

Finally, the suburbs will provide significantly more comfort (at the same price) in terms of lodging. In comparison to Paris, the inner suburbs will be a far better alternative for a buyer seeking big rooms, a nice façade, and vegetation. Let us also mention that automobile owners will find it much easier to park there.

When finances prevent you from living in Paris, buying a home in the outskirts might be a good alternative. However, there are some positives to consider: finding a home that satisfies the various requirements of buyers will be easier and faster, and the offer will be more numerous and less popular. Profitability stays at the rendezvous for an investor, and rental holidays as near to the capital as feasible are unusual.

Finding a happy medium may include settling a few hundred meters from Paris, allowing you to enjoy the benefits of the city without the costs of the suburbs. One thing is certain: becoming a property owner in or around Paris is not something that happens on the spur of the moment. Good pondering !

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