Luxury apartment in Paris: how to find a property in line with your expectations?

Those who dream of a luxury apartment in Paris know all too well that, although the supply is there, the market is under such pressure that you have to fight to conclude a sale. So how can you increase your chances of finding a property that meets your criteria? Which networks should you use to identify premium listings, ones that showcase unique characteristics like an unobstructed view over Paris, a large bourgeois apartment in a Haussmannian building or a top floor loft with a rooftop terrace? Before taking the plunge, it’s useful to understand the dynamics of this very specific market...

Luxury real estate in Paris: a still booming sector

Study after study has shown that whatever the economic context, luxury apartments in Paris continue to sell well, and the continued price rise is proof of the appeal of the most exceptional properties in Paris’ historic centre for investors.

On an international scale, Paris remains an affordable city when it comes to the high-end sector, at an average of €15,000 per sq.m for a luxury apartment in Paris, compared to €45,000 in Hong Kong and €24,000 in New York.

“Paris remains an affordable city when it comes to the high-end sector” 

The 6^th and 7^th arrondissements continue to wield the most pulling power. As an example, the newspaper Les Échos reported a sale of a 400 sq.m (4,305 sq ft) townhouse for almost €16 million, just a stone’s throw from Les Invalides.

Other sectors are also gaining in attractiveness, such as the 9^th and 10^th arrondissements, popular with the young middle-class for their vibrant and trendy atmospheres.

An apartment is considered ‘luxury’ in Paris when it sells for between €12,000 and €20,000 per sq.m, according to Savills (global real estate experts).

According to Charles-Marie Jottras, CEO of the Daniel Féau Group and Belles Demeures, sales of luxury apartment and townhouses in Paris represent less than 500 transactions per year[1]. The market is highly confidential and difficult to access: those wanting to get a foot in need to use the right method and be patient, as although demand is rising, supply remains limited.

The global appeal of French luxury

The market for luxury apartments in Paris does not only attract French buyers, which is one of the reasons it is so difficult to negotiate prices. Indeed, investors flock here from the world over: China, Russia and even the United States, many people dream of owning a charming pied-à-terre in the world’s most romantic city.

In concrete terms, Paris is the symbol of ultimate luxury, with its haute couture brands, its fine restaurants and its gastronomy, its historical heritage and its properties steeped in character, particularly on streets boasting Haussmannian architecture and century-old townhouses.

According to the luxury property price index published by Belles Demeures in July 2020, France is the world’s most attractive country in terms of luxury real estate, ahead of Switzerland and Portugal[2].

“France is the world’s most attractive country in terms of luxury real estate” »

What’s the key to buying a luxury apartment in Paris?

On the Paris real estate market, when a property is listed on traditional websites, it generally tends to sell within a matter of days... sometimes even hours! What’s more, a large number of transactions, particularly for luxury apartments in Paris, are conducted ‘off-market’. Which means that the property is not published on agency websites or private listings, rather the information on its sale is conveyed by word of mouth and the transaction is concluded entirely confidentially.

To ensure you have the best chance of making your project a success, we recommend first getting in touch with real estate agencies specialised in the luxury apartment sector in Paris. They can provide you with all the information you need on the market and assist you with your project.

Or you can enlist the services of a luxury apartment hunter in Paris. In this case, you commission a professional to look for a property on your behalf. They use their network, built up on a daily basis, to pinpoint exceptional listings to show you. They can even advise you on the negotiations and help with the administrative procedures involved in a property acquisition. Invaluable expertise when it comes to such a complex undertaking!

Other projects under way in Paris, like the upcoming 2024 Olympic Games or the completion of the ‘Grand Paris’ project to expand the urban transport network, are factors in the city’s growing attractiveness. The pressure specific to the Paris property market is set to continue, and will ensure the safe haven value of this type of investment. Meaning that owning a luxury apartment in Paris should logically ensure short-, medium- and long-term profits.