Paris is a capital city that truly is both the economic as well as political center of France. This City is right in the heart of Ile-de-France which has the highest population throughout the Country. This is also the area that contributes the most to France’s economy. Because of these factors in addition to other great selling points regarding Paris, this area is a great investment opportunity for both experienced Italian investors and new investors alike. The market can be very different in Paris than it is in Italy or elsewhere in the world, and there are some things to know when investing in Paris. Some of these factors include the following:
No Central Listing System
In some locations in the world there is often a multiple listing system for investment opportunities and real estate options. This system is basically a central database that houses all of the real estate properties that are currently on the market. In Paris, this system does not exist in any form. Because of this, the Paris real estate market can be slightly disorganized and inconsistent. Luckily, if you are an Italian investor looking to get into the investment process in Paris, one of the most important things to know when investing in Paris is that the market can use some more honest and clear cut individuals. Many people find it is hard to find a property in Paris because listings are incorrect and dishonest. You can build yourself a niche in the market by being clear with what you are doing and you can provide clients with a central database of sorts so they can clearly sort through your investments.
The Closing Process
The closing process in Italy and elsewhere in the world, is very step by step and straightforward. If you are completing the closing process in Paris, you may find that the laws are very different, the procedures are unique and typically the documents will have a lot of French verbage. This can be overwhelming and confusing even if you speak French, if you are not very familiar with all of these items. You may want to consider having a partner that can assist you with the more technical side of things. To provide your clients with an easy process, you can utilize financial advisors and other professionals that can help find properties, financial information, lending options, design resources and much more.
Real Estate License
There is a strict license that you need in real estate if you are going to be investing and reselling properties as an agent. The “carte de transaction immobilier” is the license requirement in Paris, France. You are required to have a certain number of years behind you in the real estate profession or the equivalent of a finance or law degree. While you will find unlicensed investors in the area, it is important to use caution with these professionals if you are considering investing with them.
Investing in Paris can become a very lucrative and successful venture if you know what to expect. The market is very different from Italy. Word of mouth, successful marketing and an honest work ethic will result in success when it comes to investing in Paris. There are a variety of properties available so whether you have just a little bit of funds to invest with or you have a large sum, there are plenty of opportunities available to you as an investor. There is a beneficial article written by Prestige International relating to Italian investors that you can view for more information in addition to what I have included here.
