Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
How much do the best schools in Paris affect nearby property prices?
How much more would it cost you to live near the best schools in Paris? A study looked at the prices around the top rated schools, and how this compares to the city averages across France.
When deciding where to live in a city, what sort of things play a role in the decision? Nearby schools are undoubtedly near the top of the list for those with children and a study by Meilleursagents shows that you will pay on average 17% more for a property within a few minutes walk of one of Paris’ best schools.
The table below shows the results of that study, which looked at the nine biggest cities in France. As you can see, Paris doesn’t exhibit the strongest effect, with the best schools in Toulouse and Montpellier pushing prices up more. But is it erroneous to talk about the effect in this way?
|City||Effect of good school on local prices||% of good schools located in affordable neighborhoods||Accessibility rating|
As the study’s author points out, the nature of the effect is far from clear cut. It could be that students score highly when they have a higher quality of life, rather than parents flocking to where the best schools are and pushing up prices. “The answer is undoubtedly a bit of both,” says Sebastian Lafond.
Two of the 27 best schools in Paris are located in neighborhoods where property costs below the Paris average: see the map here. So while it’s clear that to send your child to the best high schools in Paris you’ll probably need to pay more, it remains accessible to those on a lower budget.
Learn more about pricing by neighborhood in Paris.
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