A look at Paris’ most expensive real estate – street by street
The French capital presents wide disparities in terms of real estate prices according to arrondissement or district. A new study reveals which Parisian streets enjoy (or suffer?) the capital’s highest price per square meter.
A new study by MeilleursAgents.com explores Paris’ priciest avenues and streets, detailing which of the capital’s main arteries boasts the most expensive real estate. Property located on the capital’s dearest streets easily exceed 10,000€/m2 – and even double that.
The most expensive street in Paris is unsurprisingly the high-end boutique hotel and luxury shopping artery, Avenue Montaigne, in the luxurious 8th arrondissement. There, property costs an average of 17,392€/m2. Yhe second costliest street is the Quai d’Orsay, along the river Seine in the 7th arrondissement, with prices ranging between 11,972€/m2 and 23,211€/m2.
Rue de la Paix, at the junction between the Place Vendôme and the Opéra Garnier in the 2nd arrondissement, is not only pricy but property to buy is almost impossible to find. Most of the buildings on the street belong to institutional investors or banking and insurance groups such as BNP Paribas and AGF. The street’s total real estate worth is valued at 651 million euros. According to MeilleursAgents, if you can find something there the average price per square meter for property on Rue de la Paix reaches 17,150 euros, more than double the capital’s average.
The famed Champs Elysées avenue was once one of the priciest streets in Paris — ranked second most expensive in 1935. Today, dominated by it’s high street chain stores, residential real estate averages only 12,129€/m2. That price is slightly under the average of the chic Avenue de Breteuil, which borders a lengthy green esplanade in the 7th and 15th arrondissements. Expect ot pay an average of 12.417 €/m² in that tony neighborhood.
Something of a surprise is the price of real estate on the Boulevard Saint-Michel, which now reaches 11,864€/m2 on average. That price surpasses the high-end Avenue Foch in the 16th (11,355€/m2), which stretches from the Bois de Boulogne park in the west of Paris to the Arc de Triomphe. A former stronghold of French industrial families, the buildings on the Avenue Foch now belong almost exclusively to foreign owners from Saudi Arabia and Angola, among other nationalities.
In the complete ranking of Paris’ 100 most expensive streets, the 7th arrondissement is home to close to a third of pricy avenues, followed by the 6th and 5th that together represent almost a quarter of the total. The right bank contains just four streets from the top forty, while the left bank comprises two thirds of the priciest streets, with property prices there breaking records at over 23,000€/m2.
Photo credit: Flickr / Guillaume Baviere