The property market in Paris is flourishing, with prices hitting a record high last year. The growing demand from the local and international buyers, coupled with a lack of new properties suggests that the value of properties both in the cities and the suburbs, are surging.
According to data from the Chamber of Notaries of Greater Paris, property prices in the city proper can go as high as at €9,570 per square meter (PSM) while those in the Île-de-France region can go around €5,970 PSM.
If you’re someone looking for a high-end Paris France luxury real estate, whether for personal indulgence or for investment, below are the top five Paris France Luxury Real Estate markets where you can find the most expensive properties to buy:
1. 6th arrondissement
Prices of apartments in this area usually range from €10,500 to 13,500 psm, but it recently made headlines when a small 95 square meter apartment overlooking the St. Sulpice church was sold for €21,000 psm. This fashionable area is known for Jardin du Luxembourg, prominent academic institutions, fashion houses, bookshops, fancy restaurants, and its medieval streets.
2. 2nd arrondissement
This small area is home to hidden bars, wholesale shops, and the Paris Stock Exchange. Posh properties around the Montorgueil area are generally sold for over €11,000 psm while a tiny but elegant apartment on the Léopold-Bellan can go as high as €15,700 psm.
3. 7th arrondissement
A majestic view overlooking Les Invalides or the Eiffel Tower is undoubtedly an exciting sight, but a large apartment in Art Deco or Art Nouveau in this elite area could cost a hefty €15,000 psm.
4. 3rd and 4th arrondissements
A tiny apartment on the coveted Vieille-du-Temple could set you back as much as €14,750 psm while some pricey properties from the Hotel de Ville to Saint Paul start at about €10,800 psm. This Paris France Luxury Real Estate market is famous for The Île Saint-Louis and the chic Marais. It is the center of Jewish and gay communities in Paris. Stylish mansion apartments and courtyards are hidden behind tall wooden doors.
5. 1st arrondissement
This most central arrondissement features exquisite and expensive residential properties, a part of the Paris France luxury real estate area that brings you a nostalgic Empire, Renaissance, and Rococo feels. Prices may range from as low as €11,000 psm for properties above the shops of Rivoli to as high as €13,000 psm for chic apartments next to Tuileriescan or the Place Vendome.
Note that the majority of available residential properties in the center of the French capital are apartments. This is because the older buildings in the city and some newer builds were initially designed as apartments. That, of course, exempts a few townhouses or hôtels particuliers. The newer builds do not exude the romantic and elegant look of the older, 19th-century buildings. Space-wise, however, they are usually better designed and come with underground car parks.
The most sought after residential location in Paris is at the Golden Triangle in the 8th and 16th arrondissement as it is close to popular restaurants, shops, and major attractions.