While some developers are welcoming the news of new airplane connections and visa waivers, others need to closely watch the political stage to be able to gauge the market direction.
The Doldrums is a belt of windless calm circumnavigating the globe, located more or less around the equator. It was the curse of sailing ships for centuries and, metaphorically, describes the situation in the Paris property market today. Not many deals are being done because prospective buyers are pooh-poohing the unrealistic expectations of vendors about the value of their homes, reports property market analysts Lonres. With the French economy also becalmed and President Francois Hollande raising taxes one day and cutting them the next, prospective buyers are justifiably nervous about signing on the dotted line. However, some vendors have a trump card up their sleeves – beauty.
Interior designers like London-based Louis Henri Buhrmann are being hired to give grand residences a makeover. He has revamped the interiors of a 325-square metre apartment, pictured above, on the Avenue Montaigne in the 8th arrondissement, where everything from the rugs to the chandeliers are custom-made.
From Identity, June 2014: Pages 88-89