Paris will always be known for its small markets and cafés on every street corner, its sometimes chaotic traffic, and the good spirited Parisians that you can meet every morning in the subway!
Living in Paris is always a dream come true and even if market prices are very competitive, buyers are scrambling to invest in the French capital. With only 177,000 transactions per year in the Île de France, the price per square meter reached record highs in Paris with an average price of €10,210 per square meter, recorded in December 2019.
Several districts even exceeded the average price by €13,000 per square meter.
Prices continue to soar and 15 of the 20 arrondissements of Paris have a price growth of 5% or more per year.
Due to gentrification, prices in all the arrondissements are rising, especially in the previously less desirable ones.
In addition, there is a shortage of quality properties on the market; therefore, you must be reactive and among the first to visit every potential match.
It is very difficult to fully assess this market when you do not live in Paris or do not have enough time to search.
Responsiveness and availability are the key words for an effective search in Paris.
Thus, without the buyers’ knowledge, many properties are listed in a parallel market known as the “off-market” where agencies “tired” of having to call back 200 potential customers, send their ads to a select group of 20 or so privileged clients. Homelike Home, thanks to its presence in the field for 15 years, has contacts with the best players in the real estate market and its 1,000 research mandates carried out, is the key player in your real estate search in Paris and the surrounding suburbs.
Le Grand Paris will also transform the Parisian landscape. In addition to its 20 current arrondissements, Paris will soon include all the surrounding cities that are currently referred to as the “petite couronne.”
The real estate market in Paris still has a bright future ahead of it, especially for those who can be patient and know where to look.
City of lights, city of romance, Paris is not only the capital of France, but it is the top destination for tourists with close to 30 million visitors in 2010. With more than 400 conventions each year, Paris and its suburbs are the number one region for professional encounters, and shows. Paris is the center of Europe, easily accessible by plane, and TGV (high speed train) (2 hours and fifteen minutes from London, 1 and a half hours from Bruxelles, 3 hours from Geneva).
Paris is the city of good living, elegant cuisine, beautiful monuments, art, outdoor cafes, and outdoor food markets.
The manageable size of Paris compared to other major cities offers a variety of neighborhoods all with very different sights and experiences worth discovering.
Each area not only has a general type of architecture that prevails, but also offers a different kind of lifestyle and tradition whether it be familial, business, hipster or bobo…
Are you left bank or right? West Paris or East?
Historically the left bank was the bourgeois and intellectual area, with its famous Universities: La Sorbonne, etc. The right bank is more sophisticated with the Champs Elysees, Place Vendome and the Ritz hotel.
Before searching for an apartment in Paris, it’s important to identify your personal taste, and the characteristics of each neighborhood.
Do you prefer a residential or lively area? Do you like small neighborhoods or large business areas? Here is a sampling of different “quartiers”:
Neighborhood feel, close to outdoor markets, where people gather to shop, get to know one another:
In the 3rd arrondissement the rue de Bretagne, in “Le Haut-Marais”, running along the “Square du Temple” is a concentration of food shops, florists, restaurants cafes and its annual flea market. The “Marché des enfants rouges” is a place where one can buy food as well as eat lunch among the various stands.
In the 12th arrondissement, the Marché d’Aligre is located between Bastille and the Gare de Lyon. It is a very international market with products from North Africa, India and Asia. There are numerous furniture, and upholstery ateliers, along the rue du Faubourg Saint Antoine. The Coulée Verte above the Viaduc des Arts is a beautiful planted path to walk or jog.
The 5th and the Marché de la rue Mouffetard
The 17th arrondissement surrounding Marche Poncelet and Levis
Located in the west of Paris, near the Arc de Triumph and close to the Champs Elysees, the Poncelet market offers a diversity of fresh products not far from the Ternes market, the oldest in the capital.
The Levis market and the streets nearby propose a large selection of famous gastronomic specialties.
Central Paris ideal for a “Pied a terre”
Most foreign buyers focus on the center of Paris; 1st,2nd,3rd,4th,5th,6th, and 7th arrondissements, and the “Golden Triangle” which includes the north of the 16th and the 8th arrondissements.
The 1st arrondissement is home of the Louvre the Tuileries Gardens as well as the luxury shops on rue Saint Honoré.
The 6th arrondissement with its Saint-Germain-des-Prés quarter once the haunt for philosophers, now represents a shopping haven for fashion and design, offerings the department store Le Bon Marché, and its famous food market the Grande Epicerie.
The most popular tourist spots are the Eiffel Tower, located in the 7th arrondissement and its Champs de Mars Garden.
The Avenue des Champs Elysées in the 8th arrondissement is considered the most beautiful avenue in the world. It stretches from the place de Concorde to the Arc de Triomphe. The Place Charles-de-Gaulle is the intersection of thirteen large Parisian avenues. Here is a concentration of luxury hotels, famous designers, restaurants, as well as the Palais de l’Elysée, the home of the President.
The Marais located in the 3rd and 4th arrondissement is one of the oldest and most authentic neighborhoods, conserving its natural beauty and charm. This area has several famous monuments: the Carnavalet Museum, the Picasso Museum, as well as the Place des Vosges where Victor Hugo lived…
Most families look for quiet residential neighborhoods, with little night life and an emphasis on good schools.
The 16th arrondissement is without a doubt one of the most popular with families offering large residential areas with shopping streets such as rue de Passy, Auteuil, and Victor Hugo. Here the buildings are chic on their tree-lined streets and avenues.
The 5th arrondissement is home to the most prominent schools which makes buying an apartment here extremely competitive.
The 15th arrondissement is the most populated in Paris. It attracts families with parks such as Parc André-Citroën, Jardin Atlantique, Parc George Brassens. It additionally offers several shopping avenues such as rue du Commerce, rue Lecourbe, and Beaugrenelle.
The Bobo or Hipster Neighborhoods:
The expression “Bobo” comes from this up and coming group of affluent, young professionals who prefer to live in more diverse neighborhoods, rather than the traditional bourgeois areas.
The “Bobo” areas are primarily in the East of Paris, close to the center. Artists, architects, painters, photographers, move into renovated factories and lofts close to Belleville and Menilmontant where prices tend to be higher.
The 9th arrondissement is the home of Paris Opéra Garnier – Boulevard Haussmann – named after the man who designed Paris as we know it today, with its large straight Boulevards. Department stores such as Printemps and Galeries Lafayette make this area a shopper’s delight.
Recently the 10th arrondissement has become popular around the Canal Saint Martin.
The Neighborhoods that Never Sleep
The areas of Paris that “are filled with nightlife” are popular with singles young adults, young couples, and foreigners that are looking for a lively “pied a terre.”
In the 11th arrondissement near Bastille and République everyone knows each other on the rue Oberkampf, in the crowds on rue de la Roquette and rue de Lappe.
The 18th arrondissement includes Pigalle and the Sacré-Coeur and attracts tourists as well as Parisians with its diversified nightlife.
Classic, Haussmannian style
The charm of hard wood floors, decorative moldings, fireplaces, and french doors reflect Parisian life as it was in the late 1800’s. The floorplan also illustrates how people lived…maids and hired help preparing the meals, where kitchens are found at the opposite end of the of the living/dining room.
There is “lost space” with hallways, and foyers.
Different architectural styles are conducive to different lifestyles. It is important for some to have distinct rooms. These “Haussmannian” buildings are found primarily in the western part of Paris. ( 7th, 8th, 16th and 17th)
Recent buildings from the 60’s and 70’s
In more recent buildings dating from the ‘60s or ‘70s, the floor plan is designed to optimize the square footage. There are little “lost spaces” such as long hallways, etc. The apartments have organized floor plans where the kitchen is close to the dining room, closets are in every room, and often a cellar (storage unit) is offered along with a parking space in the building. These buildings can typically be found in the 13th and 15th arrondissements of Paris.
Lofts are open spaces that were once reserved for artists and single individuals or couples.
A loft has the advantage of offering a large open space, which can be easily tailored to each person’s needs, whether it be for a family or, more specifically, a recomposed family. Lofts are primarily in the 2nd, 11th and 12th arrondissements.
For many architects, artist’s ateliers built both in Paris and the close suburbs were a more creative option as opposed to a town house. The façade of the atelier is the mark of this architectural design. On the other hand, these ateliers are always exposed to the North in order to guarantee a constant light. These ateliers can be found in the 9th and the 14th arrondissements, but also on the Butte Montmartre in the 18th.
If the property is listed by a real estate agency or other intermediary, the fees are calculated according to a sliding scale that goes from 2.75% to 1.5% (taxes included) of the sale price of the real estate, but not including notary fees (minimum of 5000 € including taxes):
|Property Price||Fees (including taxes)|
|Property ≤ 300 000 €||2.75 %|
|300 000 € < property ≤ 600 000 €||2.50 %|
|600 000 € < property ≤ 900 000 €||2.25%|
|900 000 € < property ≤ 1 200 000 €||2%|
|1 200 000 € < property ≤1 500 000 €||1.75%|
|1 500 000 € < property ≤2 500 000 €||1.5%|
|Above 2 500 000 euros||Quote provided|
If the property is a direct sale by individual or merchant, the fee scale varies between 4.75% to 3.5% (taxes included) of the sale price of the real estate, excluding notary fees (with a minimum of 5000 € including taxes):
|Property Price||Fees (including taxes)|
|Property ≤ 300 000 €||4.75 %|
|300 000 € < property ≤ 600 000 €||4.50 %|
|600 000 € < property ≤ 900 000 €||4.25%|
|900 000 € < property ≤ 1 200 000 €||4%|
|1 200 000 € < property ≤ 1 500 000 €||3.75%|
|1 500 000 € < property ≤ 2 500 000 €||3.5%|
|Above 2 500 000 euros||Quote provided|
Property research fees are one month’s rent (before taxes) of the rented property (remuneration including VAT), with a fixed minimum of 3,500€ inclusive of taxes.