Property guides for anyone buying a house or property abroad in Paris. Plus, find property in the rest of France.

Paris is the capital of France and is situated in the north of the country, in the Ile-de-France region.

The city is located in the north-bending arc of the river Seine and includes two islands, the Ile Saint-Louis and the larger Ile de la Cite, which form the oldest part of the city.

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Within its urban administrative limits Paris is home to around 2.1 million people. However, the city's true urban area extends well beyond the administrative city limits and has a population of 9.93 million.

An additional commuter belt brings the population of the greater Paris area to close to 12 million - making it one of the most heavily populated areas in Europe.

The city has been an important settlement for more than 2,000 years and is now famed as one of the world's most prominent business and cultural centres.

Paris' museums, galleries and monuments are legendary and include the Louvre, Notre-Dame cathedral, Sacre-Coeur basilica, the Centre Georges Pompidou and of course the Eiffel Tower.

In addition, the city is a Mecca for shoppers and lovers of fashion. The Champs-Elysees, the road which runs from the Concorde and Arc de Triomphe is one of the most famous shopping streets in the world and is often known as 'la plus belle avenue du monde' ('the most beautiful avenue in the world').

Pros to Buying Property in Paris

With its fashionable shops, top quality restaurants, unbeatable sites and vibrant nightlife, it is not hard to see why people are keen to invest in the city.

In fact, research from LaSalle Investment Management showed recently that Paris was the third most attractive property investment market in Europe after London and Munich.

What's more, Roman Carel of Pierre & Vacances says that the newly improved Eurostar connection with the UK was likely to make Paris even more popular with Brits looking for second homes. He said that the link was "going to possibly increase commuting between the two cities, and definitely impact the investment decision of a certain category of people".

Mr Carel added "Generally speaking, Paris is a place where people like to have what we call a pied-a-terre. It's very popular, it's very trendy, it's very chic."

Paris is divided up into 20 arrondissements and prices vary considerably between the different areas.

According to the website frenchentree.com, the 1st arrondissement - also called Louvre - is generally more commercial than residential as it is located right in the heart of the city. Here property typically costs between 6,000 and 7,500 euros per square metre.

Both the 4th and 5th arrondissement - known locally as Hotel-de-Ville and Pantheon are "quirky" and home to many students and a growing number of foreigners. As a result of the area's recent popularity, prices have begun to increase in these areas and property now costs between 6,500 and 7,500 euros per square metre.

The 3rd arrondissement, which is sometimes referred to as Temple, is built around the medieval district of Le Marais. It is an area that has seen spectacular price growth in recent years and property now costs around 6,500 euros per square metre - with homes near the rue Vieille du Temple costing more, and some cheaper properties to be found near rue Meslay and rue Notre-Dame-de-Nazareth.

Finally, the left bank area of the 6th is the most expensive district of the capital. Also called Luxembourg, the area was once home to numerous artists and philosophers, but it is now the most desirable location for foreigners looking for property. In particular, homes near St Germain des Pres are highly desirable and can cost upwards of 10,000 euros per square metre. Elsewhere in the 6th, a property will cost between 7,000 and 9,000 euros per square metre.

Mr Carel added: "In terms of places where you still have investment opportunities in terms of price, people tend to go in the 18th, in Montmartre."

Cons to Buying Property in Paris

There is some concern that the election of Nicolas Sarkozy as president in 2007 could have an impact on investment in the country.

During his campaign, Mr Sarkozy said that he wanted France to become "much more property owner-oriented". While the government policies could attempt to deter foreigners buying properties, the predicted increase in demand might mean those who already own homes see values rise.

In fact, the latest figures indicate that price inflation has slowed and in fact house prices reduced slightly in the two months to September. Experts believe that the country may experience single digit house price growth.

What You Need to Know to Buy Property in France

People who buy a property in France will have to sign an initial contract which sets out the price, terms and conditions of the sale. After various legal checks have been carried out, a final contract is exchanged.

In addition, deposits on French properties are always paid to the Notaire or to a bonded estate agent, not the buyer.

Finally, contracts are subject to a seven-day cooling off period. This means that the buyer can cancel the contract at any point during this period.

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