House Hunting in France: A Soaring Paris Loft With Gustave Eiffel Ceilings

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House Hunting in France: A Soaring Paris Loft With Gustave Eiffel Ceilings

THE NEW YORK TIMES

Posted on 29/01/2021

After the various confinements, we observe a change in the attitude of the French on the market. While supply is decreasing in the face of reluctant sellers, demand is increasing because buyers are looking for space.

A loft priced at $2.4 million ('1.98 million)
Located in the 20th arrondissement, this 20th century loft was used as a speaker factory before being bought by the current owner to transform it into a bright loft. By renovating it, the owner has been able to enhance its 2,230 square meters, bathed in light from a Gustave Eiffel glass roof.
            The real estate agent in charge of the sale of this apartment, Margot Royer - Boquillon, working at Sotheby's Paris-Marais, emphasizes the natural lighting which gives a lot of character to the loft. As for its layout, it is composed of an entrance door opening onto a hall enhanced by the modern chandelier of Murano de Venini. Also, the loft has 23 feet of vaulted ceilings, a library, two lounges and a grand piano. Also, a master suite composes this property with a glass wall built with as a base the refurbished doors of a military school in Versailles. The many works that decorate his property can be included in the sale after a negotiation, there are notably works by Dali or Pierre Alechinsky. A cellar is added to this property.
            The location of this loft is ideal, a stone's throw from the Place de la Nation and the famous Père-Lachaise cemetery, it is also 30 minutes from the Paris Charles de Gaulle airport.

Overview of the market
Concerning the situation of the real estate market, despite the economic downturn in many sectors, it has maintained a pronounced pace of sales.
As pointed out earlier, the decline in the number of properties for sale has increased prices. At the end of October, apartments with more than five units sold for 6.6% more than the previous year. Real estate agents describe the year 2020 as robust, because after having been locked up, the French are looking for space. In the eastern and western suburbs, properties have seen their prices rise. Also, the Greater Paris project will expand the range of possibilities. The smallest and cheapest properties in Paris are selling faster and at a higher price than the largest properties.
"The "blue chips" of the central and western districts of Paris - 1, 2, 4, 5, 7, 8 and 16 - are still in high demand," said Alexander Kraft, the CEO of Sotheby's International Realty France. He also pointed out that the figures are similar to last year's despite three months of inactivity.
Finally, Sotheby's Realty France Monaco used to have 50% foreign buyers, but due to the confinement, this figure has been lowered to 7%, as foreign customers are becoming rarer on the territory. However, this gap was filled by strong demand from the French.

To read the full article, click here. 

Paris West Sotheby's International Realty, specialist in luxury real estate in Paris