Paris is renowned as being a favourite
destination for HNWI's. The city's luxury
real estate market is considered to be
one of the most prestigious and sought
after in the world.
The grand boulevards, glorious architecture
and rich cultural heritage make it an
attractive destination for wealthy buyers
looking for a luxurious pied-a-terre, or a
grand family home.
Dominique Petit, one of the most highprofile agents in Paris,
tells us:
"The high end market is doing well, clients
are mostly not affected by global turmoil or
the tightening of lending criteria by banks.
Prices are stable and actually increasing
in the most prestigious addresses (Île de
la Cité, Île Saint-Louis 6/7/8/16). Clients
at the top end of the market also transact
faster - they won't just leave the money
sitting in their bank accounts. This has been
particularly true of American clients and
those whose income is linked to the dollar,
where the stars and planets are aligned."
There have been a number of notable
transactions over recent years. In 2020 a
penthouse apartment on Avenue Montaigne
(8th), once owned by Pierre Cardin,
reportedly sold for 45m euros. A close
08 Leggett International Real Estate
neighbour in the 8th, on Avenue Hoch, sold
their 11-bedroom mansion for a price in
the region of 60m euros the following year.
Luxury apartments have seen the highest
demand, with many high-end sales, over
20m euros, in the centre of Paris - including
on the Place des Vosges, Quai d'Orsay and
Rue de Rivoli.
Next summer, Paris will host the Olympic
Games - four billion television viewers will
see the city in all its glory, and local hotels
PARIS AND THE ÎLE-DE-FRANCE