Paris truly has everything that’s wonderful in life: gourmet cuisine and Michelin-starred restaurants, world-class art and music, historic sites with rich backgrounds, complementary exhibits and performances, and an urban way of life with a touch of natural, green surroundings. When searching for the perfect place to live, luxury apartments in Paris can be new, contemporary and spacious or classic, intimate and romantic. Here are six things to consider when buying a Paris apartment.
1. Choosing the right arrondissement
Paris has a multitude of neighborhoods to choose from spread across its 20 arrondissements. Each area has its own characteristics, landmarks, culture and atmosphere. Familiarise yourself with each arrondissement to make sure you choose the right setting for your new life. In central Paris, the only real estate that’s available are apartments, other than a handful of townhouses. Older buildings are converted to apartment buildings and new structures are designed as apartments from the beginning.
You don’t need to be in the heart of Paris to find a luxury apartment, though. The 6th arrondissement has plenty of gorgeous, old buildings that have been renovated into apartments. In the 7th, many apartments have views of the Eiffel Tower, while in the 13th, where Chinatown is located, new high-rises come with modern features. There’s a strong expat community in the 16th, where many apartments have views of the Seine, and in the 17th you can find luxury apartments that are larger than what’s available in the centre of the city. The 19th and 20th arrondissements are also home to vast luxury apartments, many of which have contemporary design instead of traditional architecture.
2. Understanding apartment layouts
In France, the ground floor of a building is referred to as the first floor. This differs from how floors are referred to in other countries, where the ground floor is usually beneath the first floor. If you don’t want to live on the ground-level floor, look for apartments on the second floor or above. Additionally, don’t assume that every Paris apartment building is going to have a lift. Most new buildings are built with lifts incorporated, but older apartments tend to only have staircases.
3. Deciding if you need access to parking
Most people who live in Paris forgo their car because the streets are busy and difficult to navigate by driving, and Paris has a wonderful public transportation system with buses, bike rentals and the Metro. You may limit your options if you require a Paris apartment with its own parking area. However, if you’re definitely going to have a car in Paris, being patient enough to find an apartment for sale with a parking area can increase the resale value.
4. Renting out your property
If you’re not going to live in Paris year-round, you have the option of renting your property while you’re out of town. There aren’t a lot of rental properties available in Paris, so homeowners find it easy to attract renters. This may influence where you purchase property. For example, travelers who will want to rent an apartment for a week or so often prefer being in the 1st arrondissement, close to the main tourist attractions.
5. Finding a style that suits you
Older apartments in Paris will have more classic features. If you dream of a luxury Paris apartment with curly, wrought-iron balconies and chic marble fireplaces, search in the city’s older buildings. On the other hand, you can also find new apartments with modern amenities, such as spacious rooms, underground parking and lifts.
6. Understanding how apartments are priced
Luxury apartments in Paris are priced by square metre, but the price per square metre differs between arrondissements and their sub-neighborhoods. On average, a one-bedroom apartment is approximately 30 square metres, but large apartments can go up to 500 square metres. In Paris’ popular areas, luxury apartments usually fall between 90 and 120 square metres.
In Paris, property owners are not allowed to negotiate above the asking price. If you’re willing to pay the asking price and you’re the first person to make an offer, your offer has to be accepted.
If you would like more information about property in Paris why not speak to one of our property consultants who will be able to help you find the right Paris property that meets your needs.