The perfect fusion of tradition and modernity, Paris offers an incredible quality life with its vibrant culture, famous gastronomy and world-class attractions. Buying a property in Paris not only allows you to immerse yourself in the Parisian arte de vivre, but it can prove to be an attractive investment opportunity as Paris was named the 3rd best European city for real estate prospects 2021 by PwC and has some exciting infrastructure improvements, like the Grand Paris project, on the horizon. Take a look below at our curated selection of properties and apartments for sale in Paris and get in touch to discuss your search requirements with one of Paris property experts.
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Despite the effects of the pandemic, property prices continued to grow in Paris throughout 2020 with the average property price rising by 5.7% over the course of the year, according to French property portal SeLoger. Paris was also named the 3rd best European city for real estate prospects in 2021 by PwC, thanks to its upcoming infrastructure investments and active market. Between Q4 2019 and Q3 2020, Paris was the second most active market in Europe with €13bn of real estate transactions made, placing it in between London and Berlin.
When exploring properties for sale in Paris, it is important to remember that the French capital is broken up into 20 arrondissements, each with its own ambience, appeal and property market dynamic. The most sought-after neighbourhoods are located in the centre, such as the 1st, 4th and 6th arrondissements which have some of the highest property prices in Paris, and to the west of the capital.
Apartments are by far the most common type of property for sale in Paris and there is an excellent array of apartments available, ranging from well-placed pieds-à-terre through to spacious family properties.
Paris has a very active resale market with a diverse range of renovated apartments. Properties located within a Haussmannian building are especially sought-after as are those which offer a view over a famous Parisian monument. Explore some of our best resale properties below and get in touch if you are looking for something particular as we have access to off-market opportunities too.
There are also some fantastic new-build properties for sale in Paris for those who want to something brand-new, such as Les Ateliers Vaugirard in Paris 15 or Rue Damrémont in Paris 18 which boasts a mix of apartments and townhouses for sale.
Never one to rest on its laurels, Paris is embarking on the largest infrastructure project of its kind in Europe: the Grand Paris project. This €26bn public transport project, expected to be completed by 2030, will super-charge Paris’s already comprehensive public transport system to help it better compete with major global cities like New York and Tokyo. The plan involves installing a further 200km of railway and 68 new stations, which should increase metro ridership by almost 40% and make it significantly quicker to get to the city from the metropolitan area.
Neighbourhoods close to the new transport links will certainly see an increase in property value. Fortunately, there is still time to buy in these areas before prices begin to soar.
Owning a property in Paris can also prove to be a lucrative investment opportunity as well as a lifestyle investment. Paris has a very active long-term rental market as around 62% of those who live in Paris are tenants as opposed to property owners. Rental prices are capped in Paris and you can see the reference figures on the Paris Prefecture website. However, it is possible to add additional fees to your rental price if your property offers something exceptional for the area like Eiffel Tower views, high-quality kitchen equipment or a terrace. In addition, medium-term rentals (between 1 and 10 months) to students, interns and those undergoing training are possible through the mobility lease agreement.
Though it can be challenging, it is possible to find properties eligible for short-term rentals in the French capital as certain commercial properties transformed into Airbnb-style accommodation may be rented out to tourists on a short-term basis. With rental yields in excess of 6%, this can be a very attractive option for investors. See our ‘Complete Guide to Renting Out Property in Paris’ to learn more about the different rental leases in Paris.
With more than 17 years of experience helping clients invest across borders and offices in each of our key markets, including Paris, Athena Advisers is perfectly placed to help you find your perfect property for sale in Paris. From organising virtual property viewings to introducing you to exclusive off-market opportunities and guiding you through the entire purchase process, Athena Advisers is here to help you at every stage of your property journey. Get in touch with one of our Paris property experts to discuss your search requirements.