Current sales trends
1st arrondissement 14,000 euros per m²
2nd arrondissement 12,140 euros per m²
3rd arrondissement 12,780 euros per m²
4th arrondissement 13,610 euros per m²
*source Notaires de France, median prices of all
apartment sales between Jan - June 2021
It is clear that central Paris still offers excellent value when
compared to other world capitals. Limited supply and
overseas demand (particularly from the Chinese market
in 2021) mean that this is a popular choice for HNWIs.
Despite dramatic growth in recent years, prices are still
below half of those in Hong Kong and well below those in
New York, Tokyo, Shanghai, Geneva and London.
The central arrondissements account for the bulk of prime
(2-4M euros) and ultra-prime (4M+ euros) sales in Paris.
Although prices are now softening, demand remains high.
Dominique Petit works out of the Leggett office on
the île St-Louis and is an expert on the central Paris
market, he comments:
"Everything is selling well because the market is stable,
the prestige market in particular is doing very well. It
is receiving lots of positive press coverage and not just
in France. Le Figaro recently ran a story saying that the
Chinese had overtaken the Italians as the leading buyers
in Paris. They particularly like the 3rd arrondissement. The
demand for "hotel particuliers" is extraordinary as they
usually come with gardens and outside space.
It has been forecast that the number of Ultra High Net Worth
Individuals (those with more than 30M dollars in assets) in
France is set to double by 2025 and the central Paris market is
sure to benefi t from this.
Studio flats and small apartments are also very popular
and international buyers often miss out as they sell so
fast. To get around this, many are signing a mandat de "PARIS CENTRE - 1,2,3,4
The Chinese have overtaken the
Italians as the leading buyers in
Paris.
Le Figaro
recherche with us, which allows us to move quickly and
access a higher number of off-market properties".
His colleague Helena Hermanns adds:
"International clients are generally looking for small piedà-terres
up to 600k in the first and fourth arrondissements,
many people also want a balcony, which was always the
case but now it's a "must have". One issue is that Parisian
sellers are finding it hard to accept that their properties
will not be selling at 2018 prices".
The Chinese have overtaken the
Italians as the leading buyers in