PARIS Why property in Paris is like Haute Couture

How have the recent French elections influenced the property market? Where are the coolest spots to invest and hang out? We talk to Parisian destination expert Clementine Georges.

PARIS

Why property in Paris is like Haute Couture

How have the recent French elections influenced the property market? Where are the coolest spots to invest and hang out? We talk to Parisian destination expert Clementine Georges.

Invest in property in Paris and Le Derriere le Marais

Few people come better equipped to unlock life in Paris for foreigners than Clementine Georges. Originally from Lyon, Clementine is a global nomad, having lived everywhere from Rome to London and Istanbul, where she developed a talent for spotting the coolest spots in town and a first-hand understanding of how to help others connect with them. Fluent in 4 languages, this talent led her to work with hip members club Momo’s in London, run the live music venue at the Bloomsbury Ballroom, and most recently, handle Communications and Guest Relations at an exclusive boutique hotel in Bodrum, taking care of clients like Naomi Campbell and Kate Moss.“I am a real people person”, Clementine shares, “You could say that I’ve developed a talent for looking after the most discerning, demanding of clients”. After an intense training period with Athena’s head office in London, Clementine moved back to Paris, where she combines business development with looking after clients and advising them on sales.

  • What inspires you about real estate?

I love hospitality, so I think it is great to be part of helping someone acquire a new home or moving abroad to start a new life. It is a very crucial moment in someone’s life, kind of like having a child, and it’s such a privilege to be part of the decision process and be the one advising and guiding them through the options, decisions and process. 

  • Why do you find Paris an exciting property market at the moment?

Macron is my number one excitement at the moment.  He is the right person to lead the country and I believe he will commit to what he has promised.  It is crucial for France to be open to Europe and the rest of the world.  He is young and I’m positive that he will boost not just the country and the economy, but also the property market by simplifying fiscal framework and reducing taxes for properties.  

  • How do you see him influencing property taxes?

There will be exemption from the local property tax, Taxe d’ Habitation (which is a tax the homeowners currently pay when they rent their apartment ) so this will encourage people to invest in property. Self-employed workers will find it easier to get mortgages, while at the same time, big corporations will be incentivized to move their businesses to France, all of which is a boost to the economy and a positive result for the French market. To see exactly how it will play out, we need to wait for the legislative elections later this month to see if Macron can win a majority. Interest rates remain historically low, and even with the small increase predicted for this summer, it is a good time to borrow money.

  • Why do you think Paris is an exciting place to invest?

The most exciting thing about Paris is that it’s the most visited city in the world. Whatever trend the rest of the world is riding on, Paris is Paris and is always be in high demand.  Prices are rising and it is not a cheap city to invest in. I would compare good property in Paris with French haute couture; it’s an asset that’s hard to find but once you do, you have something unique and highly valued, a serious investment that, like a piece of vintage Yves St Laurent, will only grow in value and desirability.

  • What is your dream neighborhood to buy in, and why?

My dream neighborhood is Le Marais. It is perfectly located in the centre of Paris, the architecture is magnificent and it’s is one of the most important areas in Paris for art and culture. The best fashion designers are opening stores on the Rue des Archives, so it’s turning into a real hotspot, but you can still find unusual shops, full of of quirks and character. It's classic Parisian life but with a twist. In terms of property, there are incredible developments underway, one with 4.5 metre ceilings and a courtyard overlooking the river. I can’t say anymore, but, watch this space…! Most of our clients are seeking unique properties usually within the Golden Triangle, although we are seeing growth in interest in le Marais.

  • Do you have an insider  tip on where to look for the best investment at the moment?

Paris is an expensive market, so I would look at profitability and capital gain and recommend investing in property in the 11th district. Set on the Right Bank of the Seine, it is culturally diverse and has a mix of gourmet restaurants and hip nightlife, it will continue to evolve and prices rise.

  • What is it about Paris that you wouldn’t trade for the world?

The cafes, of course! They were what I missed so much when I was abroad, I was like, "Where do i go to just be and watch the world go by?!”. I love sitting in a cafe and watching the people pass by, admiring the beauty of Paris.    

  • Favorite spots for a:

A Sunday Morning? I love going to the Bois de Boulogne, the largest green space in Paris. I love visiting the Louis Vuitton Foundation, hanging out by the lakes and going for a run. It is a bit of nature in the middle of the city. Every district has its charm, that is the beauty of Paris.

A Weekend Away? Deauville and Normandy, both are very accessible by train and great options for spending time by the ocean and feeling like you have

escaped the city.

Dinner with friends?  

I love a street in Le Marais called Rue de Gravilliers and a restaurant called Le Derrière, which is something of a secret spot with a cocktail bar next to it. The owner is the same as Momos in London, so for me, it’s like hanging out with my second family. You can book dinner in the beautiful courtyard. The food is contemporary French and very high quality, but what I love is the unusual decor. It’s very cool, a unique place - if you head to the end of the corridor and through the wooden wardrobe, you find yourself in the smoking room.

Iconic Moment:

I also still love going to Cafe Flore, you really feel like you are in another era. I also love the Piscine Molitour, it used to be a swimming pool and is now a hotel where you can hang out at the bar and restaurant. It is such a beautiful, iconic place.

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