|Last Updated: Dec 22, 2005|
|SAINT-DENIS||COST (€)||YIELD (p.a.)||PRICE/SQ.M. (€)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
| SAINT-DENIS -
Houses with Grounds
|Source: Global Property Guide|
Real estate prices are quite high, given the general standard of living. A 120 square metre (sq. m.) apartment might cost around €240,000, or €2,000 per sq. m. This could rent for around €900 a month, giving a gross rental yield of 4.5%
One reason for these low rental yields is that French real estate investors draw their profits from the tax breaks on the initial investment, rather than from the rental yields. The DOMs are well-served by these tax breaks, particularly by the Loi Girardin. Foreign buyers can hardly hope to compete with the French, whose cost of capital is considerably lower.
Around 57% of dwellings are owner-occupied, and 40% in rental occupation. Slightly under half those renting property are in social housing.