The Mercury

Super rich buy up Paris homes


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


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