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Investors have fast train to Paris

11th December 2007 | back to article listings BACK    print this article PRINT

When George Orwell wrote Down and Out in London and Paris, he was writing about life as a homeless person in the two capitals, perhaps never imagining that one day people would be not just anything but homeless in either city, but able to commute between them with impunity.

Yet while the literary giant did not see the future past 1984, the world in 2007, with its speed of travel, plus telecommunications and IT connections makes such things possible. An employee in London can work remotely while sat at a desk in France and pop into the office when needs by through a high-speed train under the English Channel.

Such is the nature of the achievements of modern technology. For the property market, this has seen increasing interest in the concept of commuting between the capitals of late, particularly since the new, faster Eurostar began operating out of an upgraded St Pancras Station.

Property consultancy Knight Frank has added to those voices predicting an upsurge of interest in this lifestyle, one which will offer the best of two famous cities.

Head of residential research Liam Bailey explained that the new train service will have a major effect on investor thinking, stating: "Paris will become much closer in most people's reckoning and becomes a potential commuter location for London."

In addition, he commented: "Northern and mid France are becoming much more acceptable for more buyers," indicating that the market may also grow in these regions for those who prefer to spend much of their time outside the big city.

The same would be true in both directions, Mr Bailey added, suggesting that Kings Cross would be "massively" enhanced as a buy-to-let location.

For those seeking buy-to-let opportunities on the banks of the Seine rather than the Thames, there is a "very healthy" market for buy-to-let in Paris, albeit an overall scarcity of stock available, Marie-Pierre Saint-Martin of specialist Parisian property finders London Paris Dream Home told the Daily Telegraph last month.

She added: "Long-term domestic lets and holiday lettings are good investments," the former, of course being the market buy-to-let investors will be able to tap into to supply commuters.

Ms Saint-Martin added that: "Holiday lets are particularly interesting for investors with a bigger budget who want to use the apartment for themselves occasionally," which may also include some who prefer to spend more of their time in England but still channel-hop occasionally.

Thus for investors looking for the next move, the opportunities are there. London and Paris will not leave them down and out.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/3916.html. Alternatively, please see our full press release archive.

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