The Mercury

Super rich buy up Paris homes

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Paris luxury home prices rose the most in the world in the 12 months through March as buyers from emerging markets competed for a limited number of properties, Knight Frank said. Values of houses and apartments costing more than

2 million (R19.6m) increased 22 percent in the French capital, said Mark Harvey, a senior negotiator for the London-based property broker. Hong Kong was second with a 15 percent rise and Helsinki third with 12 percent. Shanghai and Beijing completed the top five. Buyers from the group of Brazil, Russia, India and China “are increasing­ly looking to Paris as a safe haven to invest funds in a mature and highperfor­ming market”, said Liam Bailey, the head of residentia­l research. – Bloomberg

GERMANY

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