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Le Figaro

Real estate: prices in Paris, district by district

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Real estate: prices in Paris, district by district

The Parisian market, although dynamic in all the arrondissements, is full of contrasts. Indeed, the price gaps are widening between the rare luxury goods that are sold quickly and expensively and those that are more common, more discussed.

In the 1st, 2nd, 3rd and 4th arrondissements, prices remain high. The square meter is negotiated on average at €13,560 in the 1st, €12,020 in the 2nd, €12,780 in the 3rd and €12,770 in the 4th. But as soon as the price displayed is too high or the property has imperfections, there are fewer candidates and the prices are revised downwards. Properties in these areas are coveted by entrepreneurs, young CEOs of start-ups and Europeans and Americans looking for a pied-à-terre.

The market is disparate in the 8th, 16th and 17th arrondissements. If the 8th on the side of Parc Monceau is very popular, the Golden Triangle is less successful because the rich foreign customers fond of its palaces and luxury boutiques have not yet returned. Same thing in the 16th, where the north, near the Trocadero, awaits the return of foreigners. The south, on the other hand, is very dynamic, coveted by a French and family clientele.

In the 9th arrondissement, the average price is €10,800/sq. m and goes up to €13,000 in the historic district, or even €16,200 if the property is located at a very good address. The 10th, very popular with 30-somethings, has a price per square meter of €10,050. Among the most popular areas: village of Saint-Martin, whose price per square meter is between €11,500 and €12,000, and part of rue du Château-d’Eau. Same trend and same price level practiced in the 11th. The 12th is more family-friendly and less dense with stagnating prices.

Values are down in the 18th, 19th and 20th arrondissements. Luxury apartments are rare in these districts and they are therefore sold very quickly, around 12,000-13,000 € / sq. m near the Butte Montmartre in the 18th, between 10,000 and 11,500 € on the Buttes Chaumont side in the 19th, and up to €10,000 to Gambetta, Pyrénées and Père-Lachaise in the 20th arrondissement.

The heart of the left bank remains popular with wealthy households and displays the highest prices on the Parisian market: €13,980/sq. m for the 6th, €13,300 for the 7th and €12,340 for the 5th. In these districts, prices are stable and the majority of buyers make offers without the condition precedent of obtaining credit.

Finally, in the three arrondissements in the south of Paris, the prices are falling: €9,230/sq. m in the 13th, €10,060 in the 14th and €10,100 in the 15th.

To read the rest of the article, click here.

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