In 2024, luxury Real Estate shines despite challenges

Paris Ouest Sotheby’s International Realty handled the sale of the former private mansion of Valéry Giscard d’Estaing, at 9-11 rue Bénouville, in the 16th arrondissement of Paris, for 23 million euros. The residence, where the former president lived for around sixty years, was acquired in 2024 by Armenia to house its embassy. The transaction, carried out within the Sotheby’s International Realty network, illustrates the vitality of prime property in Paris.

A private mansion steeped in history in the embassy district

The private mansion sits at the heart of the 16th’s embassy district, a step from the porte Dauphine and avenue Foch. Valéry Giscard d’Estaing, president of the Republic from 1974 to 1981, lived there for around sixty years, until his death in 2020. A plaque at the entrance recalls this presence. The residence witnessed many diplomatic meetings and major political decisions.

An 1885 residence by André Bérard

The building dates from 1885 and bears the signature of architect André Bérard. Its ashlar-stone façade, its courtyard and its two symmetrical porches convey classical French elegance. The whole offers around 1,230 m², of which 920 m² are living space, over three floors. It gathers 17 rooms, including ten bedrooms and a principal suite, several reception rooms, period fireplaces, mouldings and parquet floors. A 500 m² garden and 45 m² of terraces complete the property, a rarity in this area.

A sale to Armenia for its embassy

The property was acquired by Armenia to house its embassy. The Armenian Ministry of Foreign Affairs confirmed the acquisition on 15 February, after reviewing some thirty buildings. Alexander Kraft, chairman and chief executive of Sotheby’s International Realty France-Monaco, called the sale « emblematic ». Setting up an embassy in the 16th’s embassy district extends the diplomatic vocation of the place.

Paris, a stronghold for exceptional transactions

This sale confirms the momentum of the Paris prime market in 2024. The Paris 2024 Olympic Games strengthened the capital’s international appeal. The supply of private mansions stays narrow, but buyers, private and institutional alike, invest considerable sums for rare properties. The 16th, around avenue Foch and the porte Dauphine, concentrates a large share of these confidential addresses.

Private mansion prices in the 16th

Prices depend on address, size, garden and rarity. As a benchmark:

• Prime apartments in the 16th (Porte Dauphine, avenue Foch, Victor Hugo): around 13,000 to 18,000 €/m²
• Private mansions in the embassy district: rare, valued well beyond; the rue Bénouville sale closed at 23 million euros

A private mansion falls outside the price per square metre: its value rests on independence, the garden, the address and the history of the place. A tailored valuation remains essential.

FAQ – Valéry Giscard d’Estaing’s private mansion

Who owned the private mansion on rue Bénouville?

The private mansion at 9-11 rue Bénouville was the residence of Valéry Giscard d’Estaing, president of the Republic from 1974 to 1981. He lived there for around sixty years, until his death in 2020. The residence, in the 16th’s embassy district, witnessed many diplomatic meetings.

How much did Giscard d’Estaing’s private mansion sell for?

The private mansion sold for 23 million euros in 2024. The sale was carried out within the Sotheby’s International Realty network. The 1885 property, of around 1,230 m² with a 500 m² garden, was acquired by Armenia. Its value rests on the rarity of the address and its history.

Who bought this private mansion?

The buyer is Armenia, which is setting up its embassy there. The Armenian Ministry of Foreign Affairs confirmed the acquisition on 15 February, after reviewing some thirty buildings. The choice fell on this historic and cultural site in the 16th arrondissement, in the embassy district.

Where is this private mansion located?

The private mansion is at 9-11 rue Bénouville, in the 16th arrondissement of Paris. It borders the porte Dauphine and avenue Foch, at the heart of the embassy district. This residential area gathers private mansions and Haussmann buildings, some of which now house diplomatic missions.

What makes this property rare?

Its rarity comes from a combination of features. An 1885 private mansion by André Bérard, independent, with a 500 m² garden in the embassy district, is exceptional. Add to that 17 rooms, reception rooms, period fireplaces and a presidential history. This kind of property rarely comes to market.

How do you get a private mansion valued in Paris?

Valuing a private mansion rests on the address, the garden, its independence, its condition and its rarity, rather than on a price per square metre. Paris Ouest Sotheby’s International Realty values property free of charge in the 16th, the 17th, Neuilly-sur-Seine and the Marais, with the international exposure of the Sotheby’s International Realty network. You can request a free valuation on +33 1 40 60 50 00.

Valuing a private mansion or a prime property in Paris

To find the value of a private mansion, a prime apartment or a large estate, Paris Ouest Sotheby’s International Realty combines local expertise with international exposure through the Sotheby’s International Realty network. The 16th arrondissement office welcomes you at 95 avenue Victor Hugo, 75116 Paris. You can request a free valuation or reach an advisor on +33 1 40 60 50 00. The conversation stays confidential, with no obligation.