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Where to begin with Paris. It’s a city that everyone feels they know something about, romanticised and idolised as the backdrop to countless advertising campaigns, films and books. This is hardly surprising given that Paris is often regarded as the capital of the arts, also popularly referred to as the ‘City of Light’. Universally recognised as one of the world’s most beautiful cities and centres of high culture; fashion, cuisine, art and cinema are tightly woven into the historical fabric of Paris.
No matter how much time you spend in Paris, there will always be more to learn. Paris has been an important centre for politics, commerce, art and music for hundreds of years, with especially rich cultural periods from the 18th-20th centuries.
In 1991 it was named as a UNESCO World Heritage site, largely due to its historic and iconic landmarks and tourist attractions such as the Eiffel Tower, the Louvre Museum, the Arc de Triomphe, Place de la Concorde, and many more. The Louvre museum consistently sweeps the top spot as the most visited museum in the world, with its staggering collection of artwork including, of course, the ever-watchful Mona Lisa.
Despite its rich history, Paris is a city that never fails to look to the future and is considered one of the most diverse cities in Europe. Although sprawling, it has a distinctive village-like culture within its 20 arrondissements, with many Parisiennes tending to shop and socialise locally within their quartiers – the further division within each arrondissement.
"Despite its rich history, Paris is a city that never fails to look to the future and is considered one of the most diverse cities in Europe."
What can you get for your money in Paris?
Knight Frank has listed all properties within the past 12 months.
Neighbourhoods to watch
The 9th Arrondissement: So-Pi (South Pigalle)
A real, small village nestled between the 9th Arrondissement and Pigalle, this new must-see spot revolves around the famous Rue des Martyrs. This neighbourhood attracts creatives, particularly from the cuisine sector, recently introducing new gastronomic delights such as ‘Madeleines Mademoiselle’. There’s lots to do in this area of Paris which is strategically nestled between popular Montmartre and the 9th Arrondissement. Properties here can command a high price.
10th and 11th Arrondissements around the Canal Saint Martin
The 10th is one of the most sought-after areas in Paris in terms of real estate investment because of the affordably priced property. The neighbouring 11th is sought after for its vibrant local scene and for prices that have continued to remain affordable in comparison to increases in central Paris. It is the most densely populated arrondissement, and areas on the border with the 19th Arrondissement in the northern part of the 11th have garnered increased interest recently with investors.
What’s driving demand
25 Universities / 26 international Schools Attractive tuition rates Student discounts High quality education
Reason for buying?
Price per sq m:
Core: €10,760 Prime: €20,085 Super Prime: €25,001
90% Local 10% International
Did you know
Paris is ranked the best city in Europe for investment and development prospects in 2020
Reasons to buy
Paris is what you would consider a true to its name safe haven city for residential investment – a place that is capable of weathering economic storms and will emerge with continuous and strong global appeal. Its rich culture and opportunities attract people all over the globe, of all ages, with a thriving student life and solid workforce, especially in La Défense area – Europe’s largest purpose-built business district. Demand greatly outstrips supply in Paris when it comes to the residential sector, meaning that good-quality homes are certain to rent quickly.
As the host of the Summer Olympic Games in 2024, momentum and excitement are beginning to build in Paris for this next global opportunity to shine. Never one to shy away from the spotlight, Paris has also recently announced its plans to become Europe’s greenest city by 2030, with schemes that include hundreds of miles of bike lanes covering the city, four out of five buses will be electric by 2025, and 68 new stations for a new automated train network.
Paris market in numbers
Whether it is for lifestyle or investment purposes, there can be extra costs that need to be considered in addition to the purchase of the property itself. While the cost of the property is by far the most significant expense, additional costs you may need to cover can include local fees, taxes, running costs and possible charges that will need to be factored in.
The total percentage of purchasers costs involved in buying a property in Paris, which includes:
Transfer tax of 5.8%. Advisory fees of 1.2% included in the sales price.
Rental yields: Based on gross income. Average rental: Based on prices per month. Prime market: The most desirable and most expensive property in a given location, defined as the top 5% of each market by value. Super prime market: The most desirable and most expensive property in a given location, defined as homes priced at more than US $10 million.
Rental yield: 3.6% Expected running costs: €5.5 sq m Average rental: €32 sq m
Rental yield: 2.5% Expected running costs: €6.5 sq m Average rental: €42 sq m
Super prime market
Rental yield: 3.1% Expected running costs: €8 sq m Average rental: €65 sq m
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Sources: 1. Junot Fine Properties, 2. Knight Frank. This city guide is provided for general information only. It is not definitive, nor is it intended to amount to advice on which you should solely rely upon. As far as applicable laws allow, we do not accept responsibility for errors, inaccuracies or omissions, nor for loss or damage that may result directly or indirectly from reliance on or use of its contents.