Luxury real estate in Paris: a sector that is not experiencing the crisis
Sales of very high-end properties are constantly increasing, and prices in Paris could soon exceed those in London (currently the most expensive city in Europe). What are the characteristics of this market like no other in the City of Lights?
Characteristics of the luxury real estate market in Paris
Paris, European capital of luxury and prestige real estate, attracting more and more investors. The average price per m² passed the symbolic threshold of €10,000, compared to €2,840 in the early 2000s. A few figures to give you an idea: 12% of real estate sales exceeded one million euros in 2019 and 50 sales per month exceed €15,000 per square meter. The purchasers of Prestigious properties are constantly increasing and the high-end properties sell out very quickly. Foreign investors are becoming more numerous, which is creating a real dynamic in the market of Parisian luxury.
A surge in prices of more than €20,000 per m²
In terms of real estate prices, the most expensive properties are experiencing the biggest increase, especially rare properties with a very assertive style like houses and mansions. In luxury real estate in Paris, sales in excess of 3 million euros saw the largest increase with a 120% jump in turnover in this segment in 2 years. For properties sold between 2 and 4 million euros, the average price is €16,724 per m² (or even €20,729 per m² for transactions over 4 million euros!). Prestigious Parisian real estate therefore evolves far from the average of €10,700 per m². In terms of surfaces, notaries notice a pronounced taste for very large areas : sales of homes under 200 m² are changing little, while sales of properties between 300 and 400 m² are exploding. There was an increase of 219% in two years, compared to an increase of 156% for properties over 400 m².
What are the most prestigious neighborhoods?
Some historically prestigious districts have retained their attractiveness, but new areas are emerging on the map of the capital concerning luxury real estate in Paris. In the new luxury and trendy neighborhoods, we find:
- The 3rd arrondissement : The Marais is in the process of dethroning the Left Bank with its bohemian chic ambiance and art galleries. It is one of the most expensive areas in Paris, with sumptuous mansions and elegant Haussmannian apartments.
- The 6th arrondissement : it has become the most expensive in Paris, especially in the Odéon district where the average price per m² exceeds €17,000. You can discover prestigious properties that are very coveted in Paris.
- The 7th arrondissement : buyers of exceptional properties are seduced by the proximity of the Eiffel Tower and superb luxury apartments.
- The 8th and 16th districts : in the Golden Triangle where residential areas, the 8th and 16th districts attract an international clientele with the proximity of the Champs-Élysées and Avenue Montaigne.
Private mansion, spacious Haussmannian apartment, prestigious apartment, artist's studio: your luxury real estate hunter in Paris Parlemoi de Paris accompanies you to find exceptional properties before everyone else!
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