It is no secret that London, Paris and Rome have some of the most expensive real estate in the world, but Paris as a whole always appeared to have escaped the runaway housing price boom that has affected other European capitals.
There are signs that this may be changing. According to Forbes magazine, Parisians are selling up their city apartments and moving out to the suburbs, taking advantage of some significant rises in the value of their property. This would not be so surprising except for the fact that some 20 per cent of buyers are from the United States and, for the most part, they are senior citizens taking advantage of what are relatively low house prices in the French capital. But for how much longer?
The US dollar has been suffering for a few years now in comparison to a strong euro, but US pensioners do not appear deterred.
David Andelman in Forbes magazine has said that many US pensioners are taking advantage of a senior friendly city that has cheap travel for pensioners and concession tickets to cultural events too, not to mention the excellent health care.
Many of Pariss city buses have wheelchair areas and the majority of the citys pavements have been ramped.
Paris is also perfect as a base for visiting the rest of Europe, something not lost on US pensioners with some disposable income and a taste for adventure.