France: Top Cities for Buying Property

Paris

Paris is not just the capital of France, but a symbol of its culture, art and luxury. This city attracts influential business figures from around the world, and investing in the Paris economy is a chance to become part of Europe's most influential business community. According to a study by the World Travel and Tourism Council (WTTC), Paris ranked first in the world in 2022 for tourism's contribution to the national economy. The city's contribution amounted to $35.65 billion thanks to a steady flow of tourists year-round. On top of that, the city is an academic hub that draws more than 100,000 foreign students and young researchers for study and internships. Foreign investors most often buy studios or one-bedroom apartments in the center of Paris (for tourists) or near the metro (for renting out to students and families). Gross rental yield is approximately 3.53%. Foreign investors who take advantage of tax benefits as French residents can benefit from incentives set out in the law. For example, the Pinel law allows for returns of up to 21% of the value of new housing in apartment buildings. The upcoming 2024 Olympic Games will significantly improve infrastructure and drive up property prices. Getting in on the project now means you can benefit from its future. Paris also offers additional advantages for relocation. A stable political and economic environment ensures a high degree of returns. A well-developed transport network provides easy access to other major attractions in the city.

The French Riviera

An elite location with luxurious architecture and major opportunities in the tourism business. More than 11 million tourists visited the French Riviera in 2023. The main reasons for this popularity are: a large supply of luxury property. In recent years, more and more people are choosing the French Riviera as a place to live permanently. A mild Mediterranean climate, beautiful scenery and a variety of cultural events are contributing to the growth of this region as a place to live. Investment opportunities. Limited property supply on the French Riviera keeps prices consistently high. Investors putting money into new developments can count on capital appreciation and a stable passive income. A favorable geographic location. Proximity to international destinations and a major airport in Nice provide convenience and accessibility. Popularity among different groups of buyers: from retirees from Northern Europe to buyers from China, Japan and the US - the French Riviera attracts interest from buyers. Investing in property on the French Riviera is not only a financial strategy, but also a way to support the prosperity of this unique region.

• A large supply of luxury property. In recent years, more and more people are choosing the French Riviera as a place to live permanently. A mild Mediterranean climate, beautiful scenery and a variety of cultural events are contributing to the growth of this region as a place to live.
• Investment opportunities. Limited property supply on the French Riviera keeps prices consistently high. Investors putting money into new developments can count on capital appreciation and a stable passive income.
• A favorable geographic location. Proximity to international destinations and a major airport in Nice provide convenience and accessibility. Popularity among different groups of buyers: from retirees from Northern Europe to buyers from China, Japan and the US - the French Riviera attracts interest from buyers.

The French Alps

The benefit of investing in property in this region is also linked to the high tourist flow. In other words, the owner of a residential property can earn from rentals year-round. Why do tourists so often come here? Here's why: mountains and nature: Mont Blanc is the highest peak in the Alps and one of France's main attractions; Aiguille du Midi is another famous peak that draws large numbers of foreign tourists every day; Lake Geneva is a location on the border between France and Switzerland. Ski resorts. Courchevel, Val d'Isere, Chamonix, Megeve and Meribel are ideal for a winter getaway. The value of properties located in this region increases every year. For example, a square meter in Courchevel costs almost 8,000 EUR. For comparison, the average price per square meter in France today stands at 6,420 EUR.

• Mountains and nature: Mont Blanc is the highest peak in the Alps and one of France's main attractions; Aiguille du Midi is another famous peak that draws large numbers of foreign tourists every day; Lake Geneva is a location on the border between France and Switzerland.
• Ski resorts. Courchevel, Val d'Isere, Chamonix, Megeve and Meribel are ideal for a winter getaway.
• The value of properties located in this region increases every year. For example, a square meter in Courchevel costs almost 8,000 EUR. For comparison, the average price per square meter in France today stands at 6,420 EUR.

Nice

For most people, Nice is associated with luxury and wealth. And that's no accident: business forums and European Union summits are held in this city every year. The airport located here is the third-busiest by passenger traffic in the country. Travelers from around the world come here to explore its cultural and historically significant attractions. That is precisely why the price of apartments, houses and villas in Nice increases geometrically every year: since 2014, the price per square meter has risen by more than 25%. Although Nice is France's fifth-largest city, its streets have a cozy, intimate atmosphere.

Bordeaux

Bordeaux is a city associated with winemaking. Local producers are the main suppliers of wine to the English royal court. This city differs significantly from France's major cities. Despite a large number of important architectural landmarks, it has a special atmosphere. Bordeaux is also a magnet for local and foreign tourists. And that is the main reason behind rising apartment prices: over the past year, the price per square meter increased by an average of 15%. Today that figure stands at 3,600 EUR.

Why Buy Property in France

Owning a marketable residential property gives investors the opportunity to earn from renting it out. But that is not the only reason a huge number of financially well-off foreign nationals sign purchase agreements every year. Buying French property is one way to obtain official status. Financially independent foreign nationals who buy an apartment, house or villa in France can apply for a residence permit. In this case, they not only need to purchase property, but also confirm they have a sufficient amount in their bank account. The minimum income amount is 1,800 EUR (applicable when the residence permit is granted to one person). The investor also needs to open a deposit of at least 30,000 EUR and buy an insurance policy from a local insurance company. France readily opens its borders to foreign nationals with a stable passive income. That is why investing in local real estate is the most optimal way to obtain official status. You can confirm the terms for obtaining a residence permit with the staff of MIRBEZVIZ. Our specialists will not only explain the most important nuances of such transactions, but will also tell you about the specifics of French residency.