Paris is fast becoming the place for overseas property investors to invest, and the 10th arrondissement seems to be a popular choice.
The 10th arrondissement is limited by Gare du Nord and Gare de l’Est stations to the north and Parc de Belleville to the south, and Canal Saint Martin to the east.
The twin railway stations of Gare du Nord and Gare de l’Est offer excellent links to central Paris, and this is part of the reason that the 10th arrondissement is attracting a young and vibrant crowd who are moving in to enjoy plenty of wine bars, trendy cafés, galleries, record stores and chic boutiques that have popped up to cater for them.
Apartments in this north-eastern Paris district saw price increases of 7.3 per cent year-on-year in 2017, marking it out as an up and coming place for investment.
Canal Saint Martin seems to be the popular part of the 10th arrondissement, where waterfront properties fetch the highest prices as the canal feeds into the Seine, often as high as several million euros.
The average price per square metre in the Canal Saint Martin area of the 10th arrondissement reached over 8,600 euros by the end of 2017, and though that may sound expensive it is positively cheap when compared the 1st and 2nd arrondissements in Paris, as the city booms.
With close proximity to Place de la Republique and the Marais, the Bastille and the Parc des Buttes Chaumont, Canal Saint Martin is well located and full of old-fashioned charm.
Fully modernised apartments and lofty conversions in this fashionable 10th arrondissement area are already ranging from 600,000 to 1.1 million euros.
However, developers are now starting to build new apartment blocks where properties can be more affordable, with top floor studios with views over Paris starting from around 270,000 euros.
With the 10th arrondissement becoming more and more popular, Canal Saint Martin is predicted by Paris estate agents to be the next property hotspot, as the area continues to become gentrified.
There are still affordable properties to be found for overseas property investors, and rental yields can be attractive.
Studios are being let for between 960 euros and 1,300 euros per month, while one-bed apartments are typically being rented out for between 1,400 euros to 1,900 euros per calendar month.
Two-bed room apartments with around 60 square metres of floorspace are being let for around 2,600 euros per month.
If you want to invest in a part of traditional Paris, well linked but still relatively affordable, the 10th arrondissement, and particularly Canal Saint Martin, may be just the place you are looking for.