Jun. 12th, 2013

A Guide to Paris' Most Expensive Neighborhoods

paris cityscape
Photo Courtesy of Shutterstock
Aristocracy does not come cheap, but we wouldn’t want it to anyway. For those who’ve been afforded the luxury of living the grand life, the intimacy and exclusivity of such a status is part of the appeal. World-class prestige, however, is not content with average residences and so, with a love for the glamorous, worldwide addresses are born. As the eighth most expensive city in the world in 2013 according to CNN, Paris, France has shown that the wealthy and Expats alike continue to have a love affair with the extravagant city of lights.

Price tags on these iconic properties start anywhere from €6,700 ($9,000 USD) per square meter to €11,120 ($15,000 USD). Renting or owning in the city’s top areas remind us that investing in Paris’ history involves a hefty premium.
Saint Germain-des-Pres
Photo Courtesy of Saint Germain-des-Prés

"I love Paris when it sizzles.” – Cole Porter, American Composer and Songwriter

Saint Germain-des-Prés in the 6th Arrondissement

Saint Germain-des-Prés in the 6th Arrondissement located on the River Seine, is the quintessential Paris neighborhood. Home to famous artists and writers in the past like George Sand, Pablo Picasso, Ernest Hemingway and Oscar Wilde, the charming streets and upscale boutiques have attracted sophisticated buyers and residents. Its art culture is booming due to its many high-priced art galleries, antique shops, historic architecture, and Musée de Cluny — a museum dedicated to the arts of the Middle Ages and housed in a Gothic building.

In the years following World War II, philosophers, movie makers, and musicians met in the Saint Germain-des-Prés cafés, establishing the neighborhood as a center of intellectual thought. In the center of this prestigious town sits the oldest church in Paris, Romanesque Église Saint Germain-des-Prés. Today the church is home to small hotels, antique shops, and rare bookstores. When it comes to shopping, top-notch stores like Louis Vuitton and Armani have made their residence on its streets.

With its prestigious history, central location and beautiful architecture, the arrondissement remains one of France’s richest districts in terms of average income. Snagging a home here today will cost around €11,120 ($15,000 USD) per square meter, but seems well worth the investment.
 Typical Parisian architecture in the 7th arrondissemen
Photo Credit: Joseph Plotz

"I love Paris tenderly and am French only by this great city: the glory of France, and one of the noblest ornaments of the world." – Michel De Montaigne, French Renaissance Writer

Eiffel Tower in the 7th Arrondissement

One of the most famous tourist destinations in the world, the Eiffel Tower is found in 7th Arrondissement, which is also understandably one of the most expensive areas to live in. Average property price is around €10,750 ($14,000 USD) per square meter and occupying its residences are mostly French upper class and nobility. This fashionable area is France's second richest district in average income and Paris' first. Its highwalled gardens and classical mansions built by nobility are a slice of history all by themselves, making residential properties here an enviable luxury.

Considered the most aristocratic district of the area, the 7th contains Les Invalides — a complex of buildings containing museums, monuments and burial site for France's war heroes, including the infamous Napoleon Bonaparte. It is also home to many foreign diplomatic embassies. The quiet elegance of the most prestigious Parisian postcodes is dominated by tranquil, clean and bourgeois accommodations among its Georges-Eugene Haussmann buildings and 1930's architecture.
avenue montaigne paris
Photo Courtesy of Ralf.treinen

"That was the moment I fell in love with Paris and the moment that I felt that Paris had fallen in love with me." – Carol, Paris, Je T’Aime

Avenue Montaigne in the 8th Arrondissement

Running from the Place de la Concorde to the Place de l’Etoile, the 8th Arrondissement boasts the home of the Arc de Triomphe, the Champs-Élysées and Place de la Concorde. Adding value to its status, this neighborhood is the official residence of the President of France at Élysées Palace. Paris' main business district flourishes here in the heart of historic landmarks, 19th century architecture, and upscale stores. Sitting tall at 75 feet, the 3,300-year-old Obelisk of Luxor rests peacefully in this destination.

Starting around €9,030 ($12,000 USD) per square meter, the average property is a little more affordable than its neighboring 6th and 7th districts. The more bourgeois and grand homes can be found in the triangle d’or, which is the area between the Champs Élysées and the Seine as well as on Avenue Montaigne. Stores specializing in high fashion, such as Louis Vuitton, Dior, Chanel, Fendi, and Valentino can be seen on Avenue Montaigne. The avenue is currently thought to maintain a fashion status equal to rue du Faubourg Saint Honoré – one of the most fashionable streets in the world holding every major global fashion house.

While the Champs Élysées real estate offers various styles of homes and choice shops, its disadvantage lies in the heavy flow of tourists visiting its sites.
Palais de Chaillot
Photo Courtesy of Wikimedia Commons

"What an immense impression Paris made upon me. It is the most extraordinary place in the world!"
– Charles Dickens

Trocadéro in the 16th Arrondissement

Mainly a residential upper-class area, properties in the north side of the 16th Arrondissement tend to be very chic with a quieter, family environment. Ornate 19th century buildings sit along large avenues and various parks and prestigious schools in this district associated with great wealth in French popular culture. The affluent area has long been known as one of French high society's favorite places to live and has been compared to New York's Upper East Side or London's Kensington neighborhood.

Known as Arrondissement de Passy, average household income here ranks fourth richest in France's residential areas. The least populated of the arrondissements, an address will cost around €6,776 ($9,000 USD) per square meter. The Trocadéro area of the 16th is home to the famous Palais de Chaillot where a number of museums now sit. Also, the Auteuil villas, once home to Victor Hugo and Moliére, sit among its grounds and have become a fashionable country retreat for French elites. These exclusive gated communities (a rarity in Paris) are surrounded by lush landscapes and views of the Eiffel Tower.

Generally, those looking for more modern architecture should seek out Auteuil. However, most inhabitants are local rather than foreign investors. But, when the sun sets in the evenings, this district enjoys quiet tranquility which is upheld by its affluent residents. The 16th arrondissement continues to be one of the safest places in Paris.
homes for sale in paris
Photo Courtesy of Patrick Randi Real Estate

"If you are lucky enough to have lived in Paris as a young man, then wherever you go for the rest of your life it stays with you, for Paris is a moveable feast." – Ernest Hemingway

Paris is Beckoning

Paris is filled with must-see places, but this magical city is so much more beautiful when you can call it home. Since purchasing property can be an exhausting process, especially if not a local, allow Dominique Brizard at Patrick Randi, a Paris estate agency do the heavy lifting. The agency specializes in prestigious real estate in Paris’ neighborhoods and surrounding areas. Au revoir pour maintenant!
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