Feel the local vibes in each part of town
The oldest parts of the city are the 1st to 4th district on the right bank of the Seine. There is the intimate "Marais". The 5th, on the left bank or the Seine river, the mythic “rive gauche”, is the domain of the Sorbonne and Pantheon students. The 6th stands for Saint-Germain-des-Prés and le Jardin du Luxembourg. In the 7th you will find many stately embassies, the Eiffel tower and Musée Rodin. The 8th houses the government buildings and the Champs-Elysées. In the 9th there is a romantic literary atmosphere. The 10th is a mixed neighborhood with large train stations such as Gare du Nord. In the 11th you will find the bohemian atmosphere of the Bastille. The 12th and 13th have some surprising architecture projects and a lot of space around the Seine. The 14th and 15th on the left bank are authentic neighborhoods with numerous small shops and Gare Montparnasse. The 16th with Trocadéro and Auteuil is sought after by foreigners and expats. The 17th is dynamic and changing, with gigantic new constructions and building pits alike, including the Olympic Games of 2024. The 18th houses the two faces of Montmartre: the tourist and the tranquil. The 19th has the charm of the Canal Saint Martin. And the 20th is famous for the Père Lachaise cemetery. In short, each arrondissement in Paris has its own charms.
More demand than supply
In the past 10 years, property prices in Paris and the direct suburbs have risen sharply. The demand for housing is high, while the supply is limited, and often of poor quality. A good-quality apartment that is reasonably priced is sold very quickly. This sometimes happens literally within a few hours. In such a case, you will have very little time to make an offer. If you don’t act, somebody else will take your place.
Property prices in Paris have been rising over a long period of time. The Covid pandemic, rising mortgage interest rates, energy prices, inflation and the war in Ukraine have resulted in a slight reduction in property prices over the last year of -2,6% and -1,7% in the last three months up to April 2023. As per the end of April 2023, a m2 living space was 10.240 Euros per m2. Since 2018 the price of living space in Paris has gone up with 11,8% per m2.
The expectation is that in 2023 the price level slightly decreases (by 2 to 3%) due to the economic and social consequences of the Ukraine war. Apartments with an outdoor area, a terrace or balcony, may be preferred by buyers. And in the shorter run, the Olympic Games of 2024. A strond demand for apartments and limited amount of properties that come to the market limit the downward price trend. With a rate of around 4,0% (fixed for 15 years), the mortgage interest rates are currently historically low. For the provision of a mortgage loan, French banks generally require that you bring in your own cash for some 25% of the total purchase price.
So the average price you pay for an apartment in Paris is currently around 10.240 Euros per m2. This average hides a large variation. In some spots in the 19th arrondissements, you might find something for 8.400 Euro per m2, but you will have to lay out between 12.500 and 25.000 Euro per m2 in the more desirable arrondissements (1st, 2nd, 3rd, 4th, 5th, 6th) , 7th, 8th, 9th, 10th, 11th, 16th, 17th).
Something for every taste
Foreign buyers often fall for apartments in beautiful, stately and older buildings, which they associate with Paris. These are architectural styles such as 'Hausmannien', Art Nouveau, Art Deco, Pierre de Paris or Pierre de Taille. Modern and recent buildings are less popular. The locals also appreciate these classic styles and that is why apartments in such beautiful buildings are usually more expensive. However, the facilities in modern buildings are often better: the building is usually equipped with a lift, a bicycle room and often a garage (the latter at an additional cost).
From (very) small to (very) large
Apartments in Paris are available in all sizes. It starts with an area of 10 to 15 m2 for a small studio or 'chambre de bonne', to 350 m2 for more prestigious family apartments. A one-bedroom apartment is usually at least 35 - 45 m2 in size, and you will find 2 bedrooms on areas of at least 55-65 m2.
Please contact us for more information. We are available by phone 7 days a week from 9 a.m. to 10 p.m. You can also send us an e-mail or WhatsApp message.
Telephone and WhatsApp:
In The Netherlands: + 31 6 11 24 35 12
In France: + 33 6 47 41 83 52
A housing market with multiple faces
Paris consists of 20 districts or 'arrondissements', each with their own town hall or 'mairie'. These arrondissements are twisted around each other like a snail's house, starting from the square of the town hall, L’Hôtel de Ville.