In the real estate field in France, and particularly in Paris, some attractive investment opportunities are about to open up. The State, the leading national real estate developer with properties valued at over 50 billion euros, has in fact decided to put up for sale by the end of 2005 a first wave of buildings for a total amount of 950 million. These are entire houses or apartments generally located in the center of the main cities, but also in decentralized places that are still attractive for particular investors, such as the old spa of Aix-les-Bains. The ones selling these properties are ministries such as those of Economy, Education or Justice which, present in the center of Paris, have decided to rationalize their structures and decentralize them to less expensive areas. However, the overall lot also includes owners such as the Court of Auditors, the prestigious Grande école Ena or the Customs Directorate.
The latter is expected to put 22 thousand square meters located in Rue de l'Université, in the VII arrondissement, on the market by the end of this year. Estimated value, approximately 100 million euros. Much? It is certainly not a free price, if you consider the extensive renovation work that will be necessary to transform the property from office use to apartments, but we are in the heart of Paris and opportunities of this kind are increasingly rare.
In the same neighborhood, interesting opportunities also open up in Rue Saint Dominique, in Boulevard Saint-Germain, in Rue de Lille. As well as in the eighth arrondissement, on Avenue George V, or in the IV on Saint Louis Island (behind Notre Dame) or finally in the XVI on rue Chardin. Examples, those cited above, taken among many and only in Paris, because important investment 'windows' are also opening in Marseille or even in Polynesia or the Guadeloupe.
The important thing is therefore to keep your eyes wide open and quickly inform yourself to obtain the complete list of properties for sale (you can obtain it from the Ministry of the Budget) and above all to know the expected timing for these sales. Knowing full well that the French state needs money and therefore urgently needs to sell. We also need to hurry because many important groups specializing in real estate (international banks, finance companies, conglomerates) have already raised their antennas and are ready to battle to snatch the best jewels. And what about the rules of the game? In France they assure that there will be maximum transparency and hope for the arrival of a good number of private individuals. The properties can in fact be sold in bulk, but also by individual apartment.
source: Real Estate Observatory
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