As seen in my latest blog post, the United Kingdom’s decision to leave the European Community is contributing to the boost in property prices in the French capital. Another event likely to add value to Parisian real estate is the 2024 Summer Olympics…
Scheduled from July 26 to August 11, the games will host 206 nations; 13.5 billion tickets will be sold and 4 billion people are expected to watch them on TV (source: Paris2024 website).
Per Paris Mayor Anne Hidalgo: “We will offer one of the world’s most inspirational cities as a memorable stage for the athletes – and a truly global platform to promote them. […] The sporting celebration will flow along the Seine, from the new Olympic Village, just 15 minutes from Paris city centre, to such city centre landmarks as the Eiffel Tower and the Grand Palais.”
According to Eurostart Enterprises in What the 2024 Olympics is doing for real estate and business in Paris, “with Paris becoming the host for the Olympics in 2024, prices in both the rental and sales market are likely to see a considerable rise in the next few years. There has already been a boost to the city’s short-term rentals, despite the games being a good six years away, with prices being hiked up to almost 20 times the going rate for people booking ahead of time. […] There will also be chances for Paris homeowners to make a killing when it comes to selling their homes as long as they don’t leave it to the last minute.”
Once neglected areas of the city are being renovated, improved, rebuilt, new hotels are popping up all over town, prime properties are becoming scarce… Do contact Paola-Rossignol@deluxe.confidential.com for real estate investment opportunities right now: it’s time to invest in Paris!