Paris areas: where to buy an apartment
Constantly rising housing prices in the French capital suggest that Paris is a classic that never goes out of style, so many buyers of foreign real estate always pay attention to local square meters.
The districts of Paris, as you know, are called districts, and each of them has its own history and buyers. If a person wants to buy an apartment and enjoy the classic Parisian life, go to the Flora cafe and drink coffee at the table where Sartre was sitting, then of course it’s worth buying in the 5th and 6th districts, where Americans and the British. This is the Paris that is familiar and loved from literature and cinema, where every street is saturated with history. Buyers from the Middle East prefer the Champs Elysees and the Golden Triangle, located between the 8th and 16th arrondissements, where there are many large apartments with an impressive area of 250 sq.m.
Buy an apartment in Paris
Having a request for a profitable investment of your funds and obtaining a prestigious address, you should opt for the 7th or 8th constituencies. On their territory there are several fragments of streets where it is considered very prestigious to live – barely hearing this address, many will draw the appropriate conclusions. These include, first of all, the Monceau Park Quarter and the United States Square.
If you remove the factor of maximum prestige and focus on the maximum efficiency of the invested funds, then it is better to buy real estate not in the legendary area, but where there is more potential for growth in value and rental. Today, these are far from the most attractive quarters of the 10th, 17th, 18th, 19th and 20th districts.
Fashion for the neighborhoods
Since the whole of Paris is an eternal fashion, there is no such thing in the city that some quarters give way to others. The most expensive apartments will be traditionally in the 7th arrondissement and the 1st on the island of Saint-Louis, where there is only one street and there is practically nothing for sale, as well as on the right bank – on Montaigne Street, in the so-called Golden Triangle, where prices of 25,000 euros per square meter do not surprise anyone. The most affordable price will be in the northern districts of Paris – in the 18th, 19th and 20th – where, if you’re lucky, you can fit into the price of less than 10,000 euros per square meter. The 16th district, where the cost of real estate is about 8,000 euros per sq.m., can become a good green area for family life.
Today in the historical center a very small apartment, for example, 10 square meters in the 17th arrondissement, is unlikely to be able to buy cheaper than 120,000 euros, moreover, such options go away very quickly. And based on the fact that in the heart of the French capital, construction has not been carried out for a long time and it is possible to focus only on the existing housing stock, therefore, demand is very limited
In the newer and more democratic Défense (which looks a bit like Moscow City), an apartment of about 40 square meters can be bought for 160 – 170 000 euros, however, it will take time and effort to find such offers, since usually you will not have to pay for such an apartment less than 250,000 euros. For a similar amount, it is likely to find options located closer to the center, but it is worthwhile to prepare for the fact that the housing stock will be in very poor condition. However, if you invest in high-quality repairs (which will certainly take a lot of effort), then the apartment can rise in value by 50-60%. And given the fact that real estate in Paris is constantly becoming more expensive, in the long run its price may rise even more.
Buy an apartment in Paris
It is worth noting that in France not only very small apartments are widespread (sometimes their footage reaches 8-12 square meters), but also accommodation for several people or even families in one apartment, on the principle of communal apartments. Sometimes these rooms have been rented by young people for years, not having enough money to buy their own housing or just not to make big expenses, if the question of further place of residence is not finally resolved.
Therefore, in Paris, there are often such options as, for example, a 3-room apartment measuring 37 sq.m. Other features include the layout when daylight does not come into the room from the windows, but due to glass doors from the adjacent living-dining room.
As a rule, the central regions are in demand among buyers today: the 8th, 17th, 16th, 15th, 7th, 6th, 1st and 9th. All of them belong to the historical center with its abundance of monuments, easy transport access throughout Paris, its suburbs, you can even say that to France as a whole – given the ramified transport system of the country and its capital in particular, when you can easily reach not only to the most remote cities, but abroad.
There is no price policy as such in Paris. But there are political decisions that strongly affect her: for example, when the Paris City Hall imposed severe restrictions on the rental of apartments in Paris, the attractiveness of Parisian real estate plummeted in the investment segment.