Paris FRACTIONAL OWNERSHIP PROPERTIES
Elite Destination Homes has capitalized on the rich real estate market in Paris creating a private co-owned apartment of perfection.
paris, france
Paris is, of course, the world’s most visited destination. One can go back again and again over the years and never run out of new opportunities for dining, art, shopping and exploring. Since the 1960s, when then President of the Republic, Georges Pompidou, declared the entire city a historic zone, there has been almost no residential construction in Paris. What this means of course, is a finite supply, which with a constantly growing demand, driven by foreigners, makes property in central Paris some of the most valuable real estate in the world.
St. Germain des Pres
In Paris, Elite has focused on developing shared ownership properties in the highly desirable and chic neighborhood of St. Germain des Pres and environs in the 6th and 7th arrondissements. St Germain is the nexus of the left bank, and has such a vast array of cafes, restaurants, shops, boutiques, art galleries, and theatres, that one need ever leave the neighborhood. Among the most notable attractions are the Café Flore and Au Deux Magots, where Hemingway, Sartre, de Beauvoir and many other luminaries held court. There is the Musée D'Orsay and the Bon Marché department store. As far as high-end boutiques are concerned, Prada, Lois Vuitton, Tods, Maud Frizon, Armani, and all of the other usual suspects are in residence.
Paris real estate is some of the most valuable in the world and St. Germain, is the most valuable, and expensive, in Paris. Elite has been extremely discerning and taken the time to find and acquire properties that have the necessary elements of location, layout, beauty, and value. Elite's properties in Paris have appreciated substantially in value. St. Germain has the strongest short-term rental market in Paris. Our properties here are occupied an average of 90% between owner use and rental. Paris is still priced below comparable real estate in New York and London and continues to afford great opportunities for Elite to pass on to buyers. Paris is a logical destination for fractional ownership, as there are complicated barriers and high cost to entry. Joining an Elite Destination Home partnership offers an efficient and trouble-free solution. To learn the details of Elite's current offering in Paris, please enquire here or call 1-866-650.4334.
Paris Track Record
Elite Destination Homes first established its presence in Europe in June 2006 with the acquisition of a three bedroom apartment on the rue du Four, in the heart of St. Germain, the famous Left Bank neighborhood in the fashionable 6th arrondissement. The apartment, decorated by the French Interior Designer, Gisela Trigano, was an instant hit. The rue du Four property has appreciated over 10-15% in value in little more than one year. Between owner use and rental, the property has a 90% rate of occupancy. Most importantly, the owners love their charming and elegant pied-a-terre in Paris. The rue du Four property is a clear example of Elite's model working. We bought smart, added value, and created a great experience for owners.
After looking at over 100 properties in St. Germain over the course of the next six months, Elite followed with another three bedroom apartment, again, in St. Germain, on the rue des Sts. Peres. This apartment, which is now in the final stages of a complete renovation, was fully subscribed almost immediately, and will be first occupied in June 2008.
After another extensive and methodical search, Elite has acquired a third apartment in Paris, this time a two bedroom flat on the rue de l'Université, in the tony 7th arrondissement. It's just a stone’s throw from the Musée D’Orsay, and a five minute walk from Café Flore and the heart of St. Germain. The apartment is nestled between a small private mansion and a large cobblestone courtyard, the only thing that one can hear are the birds. The living, dining, and one of the bedrooms, all overlook the manicured garden of the mansion, face south, and have sunlight all day.
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Why did we take the time to look at over 100 apartments, before selecting one? It takes determination and patience to be a savvy real estate investor in a complicated market like Paris. Elite will never compromise our basic investment principle of bringing value to our owners. Nor will we ever compromise and accept a property that doesn't have "Wow!", that doesn't stir emotions.
Why are we bullish on St. Germain, which is some of Paris' most expensive real estate? Because it's where our owners want to be, and because our experience shows, that over time, these properties, being among the best addresses in Paris, will consistently appreciate in value. Elite is continuing to identify new properties in Paris that will be blue chip investments, and perhaps more importantly create lasting memories for the owners.
