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Posted on 23/07/2021

Real estate prices in Paris, arrondissement per arrondissement


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Real estate prices in Paris, arrondissement per arrondissement
1st and 2nd arrondissements: There are few requests because of the lack of foreign and provincial buyers, few offers and prices are still high (+4.9% in one year, that is to say an average of €13,380/sq. m in the 1st and +4%, €12,120/sq. m in the 2nd). Buyers opt for quality, and a single imperfection can discourage them. In Montorgueil-Etienne-Marcel area, small surfaces are sold between 250,000 and €400,000, and the 3-room apartments of less than 50 sq. m around €600,000.

3rd and 4th arrondissements: In Le Marais, area prized by singles people, couples without children, families, senior executives and celebrities, besides some exceptional properties, sellers still have very high expectations. Rues de Bretagne and Francs-Bourgeois are the most sought-after.

5th arrondissement: It’s the area that has been the most shaken by the sanitary crisis. There have never been so many offers in the 5th. Many inhabitants have sold in order to go to the countryside. The Quartier Latin has collapsed to 4% in one year, the strongest decrease in the capital, as the average square meter is €12,160/sq. m. Most flawless classic properties are sold around €13,500/sq. m. The most sought-after prestige properties are close to Lycée Henri IV, and/or have a view of Notre-Dame or the Panthéon. Price can go up to €25,000/sq. m.

6th arrondissement: It’s the leader on the Parisian market, with an average price of €14,280/sq. m. This area is prized by a bourgeois family clientele, emotionally attached to the famous schools of the neighborhood. Saint-Germain-des-Prés, Saint-Sulpice, Luxembourg and rue du Cherche-Midi are the most sought-after areas. A standard apartment costs between 13,000 and €14,000/sq. m and €30,000 for an exceptional property. Nice apartments with a terrace, a balcony and a view cost more than €20,000 sq. m.

7th arrondissement: Covid crisis has stopped the price increase on some properties. French buyers with a very high purchasing power are more numerous than before the crisis. They prefer to invest their money in a property rather than in finance, and they have budgets going from €1.5 million to 10 or €20 million in the area of faubourg Saint-Germain.

8th arrondissement: Despite the absence of foreign buyers in “Triangle d’Or” of Champs-Elysées, the 8th is still the most expensive Haussmann-style area (on the rise of 2% in one year) with €11,780/sq. m. Other areas attract buyers: Saint-Augustin, Saint-Philippe-du-Roule, Madeleine, from 13,500 to €15,500/sq. m, even higher when there’s a terrace or when it’s close to parc Monceau (15,000 even €20,000/sq. m). Thanks to the measures taken to improve traffic and the creation of cycle paths, Europe district is becoming more and more famous.

9th arrondissement: The steep rise noticed those last years has eased up but the 9th is still expensive and prized by a young clientele with comfortable incomes. In Martyrs area, small surfaces negotiated 13,000 to €15,000/sq. m, family apartments around €12,500/sq. m.

10th arrondissement: There are many properties and few buyers. The passion for canal Saint-Martin has stopped because of the noise, the lack of cleanliness and difficulties of access. The east and north boundaries suffer with insecurity. However, this area is going to be revalued with the renovation of Gare du Nord in 2024. Senior executives look for properties with balconies between faubourgs Poissonnière and Saint-Denis and rues de l’Echiquier and de Paradis.

11th arrondissement: From Bastille to Cirque d’Hiver, prices are close to those of next Haut Marais. Cheaper, Goncourt, Parmentier and Saint-Ambroise with square Maurice Gardette are very prized. Ménilmontant, Père-Lachaise and Charonne attract boho profiles and first-time buyers. The departure of Parisians leads to more offers.

12th arrondissement: Despite the recovery, prices have slightly decreased, big apartments being hard to sell as there are not enough buyers. They look for properties with precise criteria (balcony, garden etc.) and a price in line with the market. Faubourg Saint-Antoine, Bastille and marché d’Aligre, with its shops, its yards and its lofts are still fashionable. Montgallet and Bercy are cheaper. Families buy around Picpus and Daumesnil areas, known for their quietness and their freestone buildings.

13th arrondissement: There are more and more requests, particularly in Butte-aux-Cailles with its small houses. Buyers often come there by default because they don’t have enough money to buy in the center of Paris but they are easily seduced thanks to the large wooded avenues and the numerous green areas.

14th arrondissement: After a progression of 26% in five years according to the attorneys, the values of this arrondissement seem to stabilize. It’s an area prized by families because of it’s close to parc Montsouris and colleges of the 6th and there are many houses with garden.

15th arrondissement: Activity and prices stabilize (+1.1% in one year). In the most sought-after districts like Convention, Commerce or La Motte-Picquet, an apartment with balcony costs between 9,500 and €13,000/sq. m, and up to €20,000 for an exceptional property. On avenue de Suffren, an apartment costs between 12,000 and €13,000/sq. m without a view of Champ-de-Mars, 15,000 to €16,000 when it has one.

16th arrondissement: The gap between standard and prestige grows wider but it’s a good idea to invest in this arrondissement as it’s close to bois de Boulogne and freeway exits. It’ll keep gain in values. There are many houses but they’re still expensive. Many private paths and quality shops can be found. A flawless classic apartment is sold between 12,000 and 14,000€/sq. m in Trocadéro, Auteuil and Victor-Hugo area. Passy is booming.

17th arrondissement: In Plaine-Monceau area, where the number of sales has doubled in one year, there are still many requests for family apartments to renovate or not are, and prices are still high. However, prices of ordinary properties decrease. Batignolles area is still prized by first-time buyers and young families of executives because of the “village spirit”, and Epinettes area gain in value.

18th arrondissement: In Abbesses and butte Montmartre, prices stabilize even increase for prestige and exceptional properties, but they slightly decrease for standard properties. The area gaining the most in value is Jules-Joffrin, close to rue du Poteau, prized for its restaurants and easy to access. Properties with gardens are requested and prices increase.

19th arrondissement: It’s the cheapest in Paris but its many green areas and micro districts are a lot sought-after. The must is being close to Buttes Chaumont, Villette Bay, Jourdain and Butte Bergeyre. But the crisis and the crack traffic along aerial subway made people leave and settle in close suburbs, such as Pantin.

20th arrondissement: Once invested by first-time buyers who could not afford apartments in other arrondissements, nowadays it’s one of the youngest, the greenest and the cheapest in the capital, a little more expensive than the 19th. Prices have stabilized for few months, around €9,500/sq. m, but they shouldn’t decrease. Professionals start to worry as there are more requests than offers.

To consult the full article, click here. 

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