Paris is getting bigger -taller to be precise- and luxury properties are also in demand.
Like all big cities around the world, Paris is undergoing change as it adjusts to the new economic climate - however the skyline of the French capital is literally set to change in the coming years.
In 1977, Jacques Chirac, then mayor of Paris, banned high-rise buildings and towers were not allowed to be more than 37m high.City officials have now decided to reverse this decision, and for the first time the iconic Eiffel Tower will compete with new skyscrapers for dominance of the horizon.
For instane, construction is expected to start on Project Triangle, one of up to 20 skyscrapers planned for the city and is due for completion in 2012. (already postponed to 2014)
The 200m tall 50-storey structure will be located at Porte de Versailles, and when openend will be the third-largest building in Paris after the Eiffel and Montparnasse Towers. This new Parisian icon was designed by Herzog & de Meuron,the same Swiss architecture firm behind the Bird’s Nest stadium that played a starring role in the Olympics 2008.
Paris is a changing city, but those who decide to invest may also see their fortunes change for the better.
Written by Shane McGinley, property editor.