June 13, 2012 at 20:01 PM EDT
Today's Strengthening U.S. Dollar Creates Attractive Buys for Americans in Paris - Values Highlighted in the 20th Arrondissement
A current strong U.S. dollar is creating opportunity for American buyers in Paris. The up-and-coming 20th arrondissement - already relatively inexpensive when compared to the city's central districts - is now an even better buy, says Steenie Harvey, European editor at InternationalLiving.com.
The euro is currently at multi-year lows compared to the dollar (1 EUR = 1.25 USD). A year ago, on June 13, 2011, for example, the exchange rate for one euro was $1.44.
In the June issue of International Living, Harvey says, "Property prices in the 20th are 20% below the Paris average of just over $1,022 per square foot. The average in this district is $817 per square foot. So with a strong dollar right now, you can get a bargain in this part of Paris." Her research revealed, for example, a 204-square-foot studio apartment for just $189,000.
The 20th arrondissement comprises four official quarters: Père-Lachaise, Charonne, Saint-Fargeau, and a section of Belleville, shared with the 19th. Much of the district is also called Ménilmontant, after an old wine village that once existed here. Though not as well-known or developed as the central districts, Harvey describes the 20th as an "up-and-coming neighborhood with organic food stores, funky boutiques, concept design stores, candlelit cafeIs, and Japanese restaurants."
Harvey also found a Century 21 agency listing a 339-square-foot apartment in good condition and with a parquet floor for $299,600. At $884 per square foot, it's above the district average--but still below what buyers will find in more "prestigious" quarters of Paris, where similar-sized apartments cost over $1,349 per square foot. A tenant currently rents this apartment for $990 monthly.
Advertised as "ideal for a first buy" is another apartment of the same size. Without a tenant, it's going for $330,000. Studios in this district with 215 to 293 square feet of living space usually rent for $890 to $965 monthly. One-bedroom apartments are mostly $1,100 to $1,200 a month.
You can read the entire article here: "Property Bargains in Paris".
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For more than 30 years, InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.
Read the full story at http://www.prweb.com/releases/2012/6/prweb9600328.htm
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