Categorized | International

Paris Takes Top Spot in European Property Investment List

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For the first time in years, Paris has taken over the top spot as the number one city in Europe for property investment. Paris replaced London, which ironically was named as one of the primary choices for the world’s wealthiest.

 

Despite being replaced for number one, the London real estate market did have a strong second half of 2011. The city had nearly eight billion dollars in sales. That real estate performance was not as effective as the one experienced in Paris. The residential real estate market in Paris posted its strongest performance in years. In fact, the turnover rate was at its highest since five years earlier in 2007.

 

The commercial real estate sector, particularly the office market of Paris has been one of the city’s strong points. The market in Paris posted significant sales gains.

 

While the majority of the European real estate markets have struggled to remain afloat in the last year or two due to credit rating downgrades and an overall fear of the debt crisis, London and Paris both avoided a negative impact. In fact, both cities are still considered to be prime areas of foreign real estate investment.

 

Outside of Paris and London, the remainder of the top ten real estate investment areas includes cities in Germany, and cities in Scandinavia. German cities make up three of the top ten selections. Scandinavian cities also make up three of the top ten cities on the list.

 

Total real estate investment has actually increased in Europe when compared to one year earlier. Investment activity is up nearly seven percent across the continent.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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