Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
Grand or tiny: international buyers get help buying their dream apartment in Paris
Recently the Wall Street Journal published an article about the storm of perfect conditions leading American buyers to scoop up that pied-a-terre they’ve been dreaming of for years. Mortgage interest rates in France are below 2%, allowing excellent opportunities to leverage funds; the dollar is at close to a historic high against the euro; and a trying, contentious last few years that has left many people yearning to focus on authentic, enriching cultural experiences.
The WSJ article highlighted a handful of these American buyers, who bought and renovated their dream Paris apartments, with just the right balance between authentic French decor and style, and modern amenities like en suite bathrooms, modern showers, air conditioning, and updated floor plans.
Paris Property Group focuses on helping international clients find coveted properties with great bones, and renovate them to modern, luxury standards. The question we frequently get is “Which part of Paris should I focus on?” Many high-end buyers look to the 6th and 7th arrondissements (Saint Germain des Pres) or the Marais (3rd and 4th arrondissements), typically the most well-known, and well-trodden tourist neighborhoods of Paris. Properties in these districts often go for between €14,000 and €20,000 euros per square meter ($1,500 – $2,050 per square foot), depending on the features and desirability of the property. After renovation costs, a typical two-bedroom, two-bath property usually comes to over €1,500,000 in these areas. One bedroom properties in these areas can range from a low of €500,000 to over €1,000,000.
If that price is more than you hope to spend on your second home (and second life) in Paris, don’t worry yet: there are other options. Realistic prices in other central parts of Paris, less frequented by tourists, are closer to 11,000 euros per square meter, thus potentially cutting the final price of the project by half.
“Once they find their favorite places and start making friends, they can’t wait to start spending more and more time in Paris.”
NBC News recently published one of Paris Property Group’s own projects, in the lively and typically French 12th arrondissement, near its fabulous Marche d’Aligre, for a modest price tag around €600,000 euros, including renovation and furnishing. The apartment features numerous windows, a lovely balcony, 6th floor with elevator, and oh-so-Paris rooftop views; a luxe remodel gave the property a glam feeling that belies its small stature.
“I love helping people find their perfect place in their perfect neighborhood” says Emma Skoble, lead broker with Paris Property Group. “The feel of every neighborhood is unique, and it is a lot of fun to help people find the right fit and get them all set for their new life in Paris,” she continued. “Once they find their favorite places and start making friends, they can’t wait to start spending more and more time in Paris.”