Such new-build boutique developments are a rarity in the heart of the City of Lights. Paris is the third most visited city on the planet and with that comes a consistent demand for high-quality rental property, especially new-build as it is often easier to manage from afar and is also in line with the modern day requirements of the international traveller.
Paris: 5th arrondissement
The historic Latin Quarter has been home to scholars for centuries, it’s pride the world-renown Sorbonne University. Known for its bustling nightlife and student-filled streets, it is historically the least expensive of the central left bank arrondissements. But, the rise in real estate prices generally in Paris made the 5th desirable particularly to young buyers in the last years, and is suffering a shortage of apartments like never before. Some of the oldest streets in Paris are here, along with the Pantheon – the final resting place to many of France’s most celebrated dignitaries – and the Luxembourg Gardens, one of the most beautiful parks in Paris.
Average price: Average price: €11,122/m2; +4.9% over one year; +40.5% over 10 years
While historically the least coveted of the central left bank arrondissements, buyers priced out of the 6th have turned to the 5th to find their dream pad, only to find that an exceptional place with a view on the Luxembourg gardens can fetch a cool €30,000/m² on this side too. In general, expect to pay dearly around the Luxembourg gardens and the Pantheon and slightly less around the Val de Grâce. Even around Gare d’Austerlitz and Les Gobelins, prices can be substantial. Average price: 11,122 €, ranging from 7,983 € and 15,826 € depending on the area.
Current Market Prices — 5th arrondissement
|Neighborhood||Price/m2 in euros|
|Saint-Victor||€ 7,711||€ 10,866||€ 16,257|
|Jardin-des-Plantes||€ 7,804||€ 10,475||€ 13,818|
|Val-de-Grâce||€ 8,204||€ 11,362||€ 15,739|
|Sorbonne||€ 8,081||€ 11,614||€ 16,097|