The richest people in the world spend about 9 percent of their income into buying properties. . Property in Paris, especially the historic area, is limited and can withstand a recession due to it’s desirability. Paris is ranked as the fifth most desirable city to own property.
The Top two cities where the super rich buy property all have certain drawbacks. London taxes non-residents and has laws in place stopping foreigners from buying large amounts if vacant properties. New York has a supply and demand deficiency. London, New York, Tokyo and Sydney, the top four cities also have skyscrapers with places to eat, go to the movies and even spas.
Paris does however have one complex of 24 Townhouses at rue de Grenelle. The properties are high end and almost sold out but are desirable to rich French nationals and foreigners.
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Where are the super-rich buying real estate?
Rory Ramsden is a French property finder and buyer's agent working for high net worth private clients wishing to buy a chateau, manor or vineyard in the south west of France. He has lived in France for 8 years after spending time travelling the world on business.
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