Things to Check before Buying Luxury Real Estate in Paris

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Urban lifestyle, green spaces, historic sites, world-class art, Michelin-starred restaurants, and gourmet cuisines are the major selling point of Paris as a vacation destination or as a place to settle in.

If you’re looking for a great place to live, luxury real estate Paris can offer intimate, classic, or contemporary living experiences.

Before closing the deal with a realtor, make sure that you already did your homework in finding the right arrondissement. Paris is home to 20 diverse areas called arrondissement, so make sure to choose one that complements your lifestyle.

Where should you look for apartments?

If you’re looking for high-end properties, you might want to focus your search within the following arrondissement:

  • 6th Arrondissement (Saint-Germain-des-Prés)
  • 7th Arrondissement (Palais-Bourbon)
  • 8th Arrondissement (Élysée)

It is in the 6th and 7th arrondissement where you can find the most expensive luxury real estate in Paris.

The 6th earned this reputation being the area where famous artists and writers like Ernest Hemingway, Oscar Wilde, and Pablo Picasso resided. Apart from that, it is also where high-end art galleries, antique stores, and boutiques are found.

The 7th earned its reputation as a prestigious address because it houses the seat of the French parliament and most apartments here have a great view of the Eiffel Tower. The 8th arrondissement, on the other hand, is a prestigious neighborhood because of Michelin-star restaurants and 5-star hotels surrounding it.

Aside from the right arrondissement, here are other things you should check before buying a luxury real estate in Paris.

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Apartment Layouts

In France, people refer to the building’s ground floor as the 1st floor. This is quite different from how other countries see building decks, where the ground floor is understood to be the floor under the 1st floor.

If you’re not comfortable living on the ground floor, search for apartments located on the second floor up. Also, never assume that all buildings have lifts. While new buildings usually come with lifts, older apartments only have staircases.

Parking Area 

A good number of people in Paris don’t own vehicles because of the busy streets that are quite challenging to navigate.

The great thing about the city is that it has an excellent public transportation system with the Metro, bike rentals, and buses.

However, if you want to drive around Paris by car, make sure to choose apartment buildings with a designated parking area. The good thing about securing a property with a parking space is that you can resell it at a higher value.

Putting your property for rent 

If you won’t live in Paris and you bought a real estate property there, you have the choice of putting your property up for rent while you’re not using it. This can influence your location decision when purchasing the property. In this case, you might consider properties near the main tourist attractions.

Apartment Pricing 

In Paris, luxury apartments are priced per square meter, and the price range differs per arrondissement and sub-areas. A 1-bedroom residential apartment usually measures around 30 square meters.

Larger apartments can be as huge as 500 to 600 square meters. In the popular areas of Paris, luxury apartments are within the 90 to 120 square meters range.

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Remember that in Paris, property owners don’t negotiate more than the asking price. If the asking price is acceptable and you’re the first one to make an offer, the property needs to accept your offer first.

Find yourself needing any more information or advice about what luxury properties to buy in Paris? Consult with the Paris Property Group. They can help you find the luxury property that fits your taste.

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