Immobilier Paris: what you need to know!

Real estate Paris

Paris is the dream of many investors and individuals looking for real estate to rent or to buy. However, the city is renowned for being among the most expensive on the market. What explains this price increase? What are the characteristics of real estate in Paris? What are the best neighborhoods to buy or rent a property without breaking the bank? The answer to all of these questions in this article.

Paris — City of Lights that always makes you dream

There was a time when real estate in Paris was the subject of a lack of interest despite a spectacular increase that continued for several years. However, this decline has not lengthened, because Parisian real estate remains very dynamic. A recent report by the Notaries of Grand Paris revealed a recovery in sales since sales of old homes in the first quarter of 2022 were the same as those in the first quarter of the previous year. Several reasons push real estate buyers to make a purchase in Paris

Qualitative real estate offers

Many dream of having real estate in Paris. Although it is not at the top of the list of cities most coveted by the world's wealthy, the City of Lights is still in the top 5. In 2019, the capital was elected the most attractive city by the richest people in the world. It owes its success to the quality of its real estate offers in almost all its boroughs. In addition, it is ranked the second tourist city in the world.

Its prestigious environment, its location in the heart of Europe and its accessibility via numerous transport routes are also added to guarantee a good living condition for residents. In addition, the government has put in place tax systems allowing buyers to amortize their investment more easily.

A strategic choice to get closer to your workplace

It is rare for real estate prices to fall in Paris. However, this does not prevent buyers from conquering the market. Most of them are looking for a property intended for a main residence. Others want to live in Paris to have a pied-a-terre in their hands or to house their children while keeping the property in order to donate it.

On the other hand, the fact that the Paris employment area is among the most active in France pushes workers to move closer to it. Instead of wasting their time commuting, they are looking to live closer to where they work. Those who want to find work or develop their business project can live in Paris to plunge into the heart of the city's economic activities and get closer to targeted multinationals.

One of the safest investments in the world

Being one of the most attractive capitals in the world, Paris welcomes every year many businessmen who come there for professional meetings. Most of them prefer to spend their stay in their own apartment rather than in a hotel.

For their part, more and more wealthy people are interested in the Paris market. If you have real estate, you will have no worries if you plan to sell it a little later. It is possible to sell it at a higher price than what you bought it for. It should just be noted that this depends on the quality of the property. It's a privilege that a lot of real estate investors can't take advantage of in cities that the richest aren't very interested in.

The pleasure of having a property in the City of Lights

In Paris or elsewhere, having your own home is a guarantee of security and freedom. You can set up your home the way you want. There is no risk of you being expelled for any reason. In addition, you can pass this property on to your children.

On the other hand, Paris offers many leisure activities such as cinemas, restaurants of all kinds as well as museums, etc. It is precisely for this reason that the supply of real estate is always low compared to demand. Besides, it is often a pleasure to have a heritage in the most beautiful capital in the world, since it is a privilege that is not given to everyone.

It's not always easy to choose between Paris left bank and right bank

Between the left bank and the right bank of Paris, the choice is not always easy. Separated by the Seine, they each have their own advantages and disadvantages for each purchaser wishing to build up a wealth in Paris. Although taste has a lot to do with it, the characteristics of each can also influence the choice of the purchaser.

The left bank for those who aim for the most beautiful districts of Paris

It is on the left bank that most of the most beautiful districts of Paris are located. It is also home to the emblematic monuments of the City of Lights: the Eiffel Tower, the Luxembourg Palace, the Invalides, the Orsay Museum, the Montparnasse Tower or even the Institut de France. Young couple, students, families and retirees can find the property that perfectly suits their needs. The Left Bank also offers numerous opportunities for buyers wishing to invest in rentals, as real estate demand is constantly increasing there. Tourist areas, student sectors or residential and family neighborhoods, the districts of the left bank have specific real estate parks. For students, for example, the 5th arrondissement is the most interesting since it is home to renowned universities such as the Sorbonne and the Panthéon. It is also a tourist sector that is among the liveliest in the capital at night. For its part, the 8th arrondissement seduces families looking for properties close to the Place d'Italie. Quieter and home to numerous schools and green spaces, it has everything to meet their need for comfort.For those who want to have real estate in a residential area of Paris, the 14th arrondissement is the one that best meets their needs. Apart from the international university city, the south of this district is also home to the MontSouris Park, one of the largest in the city.

The Right Bank — more sophisticated and conservative

Located north of the Seine, Paris right bank is much bigger than the left bank. It has 14 districts and is home to many emblematic sites of the City of Lights. This concerns in particular the Louvre, the Champs-Élysées as well as the Hôtel de Ville and Montmartre or the Opera Garnier and the Place de la Concorde. Indeed, the Right Bank is more oriented by commercial activities. However, most of its boroughs are suitable for all buyer profiles. Students will find what they are looking for in the districts of Bastille and Républics. They are easily accessible by public transport. In addition, the trendy Marais district and the Canal Saint-Martin district are nearby. Apart from its various places reserved for entertainment, the Marais, located in the 3rd and 4th districts, also seduces tourists with the beauty of its picturesque streets and ancient buildings. On the other hand, those looking for real estate in a family neighborhood can choose the 8th and 16th districts. Its Haussmannian buildings will offer them the comfort they need. Although the districts of Monceau and Auteuil are not accessible to all budgets, they are perfect for family life. In addition, they are close to numerous public and private schools as well as green spaces such as Parc Monceau and the Ranelagh garden.

Overview of the 20 districts of Paris

Paris has twenty districts, each with its own particularities.

1st arrondissement

It is the most central one in Paris. An open-air museum, it is home to numerous cultural sites and museums, including the Louvre. You will also find the Les Halles district, one of the oldest since it dates from the beginning of the Middle Ages. It is the best served district in Paris.

2nd arrondissement

It is built around the Paris Stock Exchange (the Palais Brongniart). This is in particular for this reason that it is called Bourse. It is the smallest district of the City of Lights.

3rd arrondissement

Very dynamic, it has numerous museums such as the Picasso Museum and the Carreau du Temple, hotels as well as ancient and historic streets. It is also very well known for its art galleries.

4th arrondissement

Also called the Marais, it is this district that houses the Town Hall. It is also composed of the Île de la Cité and the Pompidou Center. Its cultural richness makes this district one of the most popular among tourists since it is where the Notre-Dame-de-Paris Cathedral and the Hotel de Sully are located.

5th arrondissement

It is a university, intellectual and tourist district. You will find remains dating from the Gallo-Roman period and the Pantheon. It is the oldest district of the City of Lights along with Île de la Cité. This district has many universities, of which Sorbonne is the most popular.

6th arrondissement

It's the most expensive in town. These are in fact Saint-Germain-des-Prés and the Luxembourg Gardens. You will find the Luxembourg Palace, which became the Senate, and the fountains that made Paris famous for their beauty, including the Medici fountain and the Saint-Michel fountain.

7th arrondissement

It is one of the most bourgeois districts of the capital. This is where the Hotel Matignon and the National Assembly are located. It also houses the Eiffel Tower, the emblem of Paris, as well as numerous renowned museums such as the Orsay Museum and the Army Museum.

8th arrondissement

It is a very posh district where the Élysée is located, the Avenue des Champs Élysées including the Grand Palais, the Petit Palais and the Palais de la Découverte are located. This district is also home to the Place de la Concorde and the famous Arc de Triomphe.

9th arrondissement

It is a Haussmann district that has attracted many artists for several years now. This is where the Opera Garnier, the Grévin Museum and the Perfume Museum are located. The Grands-Boulevards and its department stores will also delight shopping lovers.

10th arrondissement

It is a cosmopolitan district. In particular, it is home to East Station and North Station, which gives access to London in just a few hours. A very popular place in this district is the Canal Saint-Martin. The most gourmands will find their pleasure at the Chocolate Museum.

11th arrondissement

This is the district that mainly interests party-goers. Place de la Bastille, Oberkampf and Rue Lappe are the neighborhoods you should never miss to plunge into the heart of its festive atmosphere.

12th arrondissement

Quieter, it is the preferred district for families looking for a more pleasant environment to live in. This is especially the case for older families and those with children since it is home to numerous green spaces and a zoological park.

13th arrondissement

It is the district of Butte-aux-Cailles and the Choisy Triangle. The latter is very popular with its Asian businesses.

14th arrondissement

It is a lively neighborhood with cinemas and theaters. This is where the Montparnasse Tower and the cemetery where celebrities like Guy de Maupassant, Serge Gainsbourg and Charles Baudelaire rest.

15th arrondissement

It is the largest and most populated in Paris. However, it is quite quiet, offering a good living condition for families with children. It is home to Île aux Cygnes as well as the Beaugrenelle shopping center and the Statue of Liberty.

16th arrondissement

It is the most bourgeois in Paris. It is quieter and very well secured. This district is one of the most pleasant to live in the capital. It is the one that houses the most Art Nouveau buildings in Paris.

17th arrondissement

Lunatic, it has 3 major districts including the Ternes district, the Monceau district, which is one of the most bourgeois in Paris, and the Batignolles district.

18th arrondissement

It is home to Montmartre, highlighting its tourist side. However, it has abandoned its side around the Barbès station, more unusual and exotic at the same time.

19th arrondissement

Cosmopolitan and lively, it is gradually winning the hearts of Parisians with its rents which are among the cheapest in Paris. In particular, it offers a good quality of life to its inhabitants.

20th arrondissement

It is very well known for its Père-Lachaise cemetery where many famous people are buried. Party-goers will also find their pleasure in the Belleville and Ménilmontant districts.

Parisian real estate agencies

Paris has more than 9160 real estate agencies, each with its own specificity. They play an important role in real estate transactions because they ensure the success of the project for both parties: the buyer and the seller.

An expert to access the off-market market

For buyers in particular, going through a real estate agency makes it easy to find the property that perfectly meets their needs. In addition, they will have more chances of accessing off-market properties, which are difficult for individuals to access. Indeed, these properties are reserved for buyers with the right profile. That is, they are only available to people who are likely to be interested in them. They can therefore go through a real estate agency or a real estate hunter to put all the chances on their side.

The luxury real estate agency

There are also luxury real estate agencies. Real specialists in the sale or rental of exceptional properties. They only offer very high-end services. Apart from looking for real estate, a luxury real estate agency can also intervene in the search for a good school close to the place of residence of its client. It can help him find qualified personnel or even qualified service providers in works and decoration, edit anonymity and security clauses or off-market clauses for sellers wishing to keep their identity, etc.

Real estate networks

The best real estate agencies in Paris are members of a network such as ORPI, Laforêt Immobilier or Century 21. When a real estate agency joins a network, it easily gains notoriety. Buyers more easily trust an agency that is part of a network of real estate agencies since it is necessary to have a certain quality to integrate.

The price of real estate in Paris

While the health crisis has brought down real estate prices in Paris, the market remains dynamic and the capital is still among the most expensive in the world. On average, the price per square meter of a house is €14,500 while that of an apartment is €10,600.

However, it is in the first arrondissement that the most expensive district of the City of Lights is located. It is in fact the Île de la Cité, Place Dauphine, where an apartment is worth more than €18,500/m² while a house can cost €17,100/m² on average. As for the cheapest, it's the 19^th district that is at the top of the ranking. On average, the price per square meter for the old one is 7300€/m².

Real estate sites to find a property in Paris

Internet being the most reliable and fast channel for finding real estate in Paris, there are many Paris real estate sites that allow you to easily find a property to rent or to buy. However, not all platforms offer the same advantages.

With Superimmo, for example, you will find more than 72,000 real estate ads posted by more than 11,000 agencies. In addition, buyers can focus their search to save time and easily find their property. However, this site does not have a mobile application. It does not offer a “map” view that would make it even more practical.

For its part, Leboncoin also offers numerous opportunities. More than 700,000 ads are published there. It is intended for individuals and professionals who can all publish their real estate ad there. This platform also makes it possible to carry out targeted research. You just have to be more careful, as some ads provide very few photos. You should then carefully inquire about the characteristics of the property before buying.

There is also SeLoger.com which has more than 600,000 real estate ads. More demanding on the quality of its ads, this platform aims to ensure that sales and rental offers are complete. Its design also simplifies navigation and visitors can access the map to have a clearer vision of the offer.

Luxury real estate in Paris

Despite the health crisis that has slightly affected the real estate market in Paris, sales of high-end properties do not seem to be suffering as a result. In reality, they are constantly increasing. The cost of luxury real estate in Paris could even exceed that of London in a few years. It is especially the French who are seduced by luxury real estate in Paris since they represent 90% of buyers. 73% of them are people aged 50 who want to buy a property for their main residence.

Since accessing these goods is not easy, it is necessary to go through an expert. In particular, Home Select is one of the best real estate hunters in Paris. You can use our experience to find an exceptional property in the City of Lights. We are part of a powerful network that includes more than 900 real estate agents in Paris. We offer tailor-made services to each client. Having a very good knowledge of the luxury real estate market in Paris, our team is in a position to guide you in the selection of the property.

We also support each client in all the procedures necessary for the transaction. From prospecting to the signing of the authentic act in front of the notary, including pre-visits, the evaluation of all the characteristics of the property as well as negotiation. Home Select has access to the off-market market, allowing us to find exceptional properties for the most demanding customers.

.