Video - foreigners flock to buy luxury property in paris

Estate agents in France claim that despite the crisis in the eurozone, sales of luxury properties in Paris are beating all records and selling for record prices too.

"In 2011, we realised a 34 percent increase in sales compared to 2010. Brazilians, Russians, buyers from the Middle East, these are the key players who take an interest in these properties," Paulo Fernandes from Sotheby's International Realty, told euronews.

In recent months, many other estate agents say they have seen a clamber for luxury property in Paris, which has caused average prices to increase around 17 percent. Half the buyers are foreigners, they say.

Watch the full report on TheMoveChannel.tv:

http://www.themovechannel.tv/2012/03/foreigners-flock-to-buy-luxury-property-in-paris/