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Buying in Paris: What are the real estate prices this year?

Mahaut Fauquet
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Modified on
1/14/2025
75
Summary

Paris, the City of Light, remains a global symbol of culture, elegance and historical heritage. The capital of France, Paris attracts millions of visitors every year, but also investors from all over the world. In 2024, the city continues to offer an exceptional living environment, between the French art of living, innovation and sustainable development.

In this article, we will explore the evolution of the Parisian real estate market in 2024, current prices, market trends as well as the most popular areas for sustainable real estate investment.

The real estate market in Paris

The Parisian real estate market, still as attractive as ever, shows a certain resilience in 2024, despite global economic fluctuations. With a slight stabilization in prices, Paris remains a city of choice for international and domestic investors, especially thanks to its cultural diversity, solid infrastructure and professional opportunities.

Demand for Parisian apartments, especially in historic districts with good transport links, remains high. Among the buyers, there is a significant proportion of foreigners, in particular Europeans (English, Germans, Belgians, Dutch) looking to acquire a second home or a pied-à-terre in the French capital.

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The price per m² in Paris

Real estate prices in Paris in 2024 continue to show a moderate decline, with average prices fluctuating between 9,000 and 13,500 €/m², depending on the district and arrondissement. For example, the 7th arrondissement, which includes prestigious areas such as the Eiffel Tower district, has prices between 15,000 €/m2 and 17,500€/m2, while outlying districts such as the 19th arrondissement are around 9,000 €/m². Here is an overview of the prices in different areas of Paris:

Arrondissement Price/m² average
7th (Invalides, Eiffel Tower) €17,500/m²
8th (Champs-Élysées) €13,500/m²
10th (Canal Saint-Martin) €10,500/m²
11th (Bastille, République) €11,500/m²
16th (Passy, Auteuil) €13,000/m²
18th (Montmartre) €11,000/m²
19th (Buttes-Chaumont) €9,500/m²
20th (Ménilmontant) €9,600/m²

The central arrondissements, such as the 7th and 6th, where emblematic monuments and historic districts are located, are among the most expensive. On the other hand, interesting opportunities arise in more peripheral arrondissements such as the 13th, 19th and 20th, where prices are more affordable and where new real estate projects are emerging.

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The most popular neighborhoods in Paris

Saint-Germain-des-Prés (6th arrondissement): central, emblematic, 100% Parisian, Saint-Germain-des-Prés continues to attract a wealthy clientele. Its art galleries, literary cafés and luxury boutiques make it one of the most sought-after areas of the capital. The apartments, often majestic, are particularly expensive.

Le Marais (4th arrondissement): This historic district, once a refuge for craftsmen and nobility, is now a trendy, lively and dynamic place. Its cobbled streets, small shops and art scene attract locals and expats alike looking for Parisian authenticity. Central, lively, well served, the Marais offers little neighborhood life and can be very crowded at weekends.

Montmartre (18th arrondissement): Perched on its hill, Montmartre offers a picturesque and bohemian living environment. Very popular with artists and history lovers, this district is full of charm with its alleys, hidden squares and breathtaking views of the capital. Beware of the tourist influx however, from one street to another it is sometimes night and day!

The 10th arrondissement (Canal Saint-Martin): Along the Canal Saint-Martin, this district attracts a young and cosmopolitan population. The canal-side and relaxed atmosphere make this area a popular spot for investors looking for a more laid-back vibe. With its trendy restaurants and cafes, friendly and welcoming neighborhood life, the 10th is one of the favorite neighborhoods of the locals. The downside: in summer, the canal is a very popular base for those who like to have a drink by the water and the area can quickly get noisy. A parallel street will appeal more to those looking for a little calm.

Auteuil, Passy (16th arrondissement): a very beautiful Paris, spacious, close to the Bois de Boulogne, ideal for families and expatriates! Auteuil and Passy are known for being upscale, clean and lively districts, but not very cheap: from the high price per square meter to the average basket in the supermarket, the sweetness and comfort of the sixteenth century come at a price!

Commerce, Cambronne (15th arrondissement): another family arrondissement, the 15th offers a lot of comfort. There are many beautiful buildings and very pleasant neighborhood life. It could be criticized for a lack of places to go out or variety of restaurants, but other than that, the 15th is definitely a good neighborhood to live in.

Gambetta (20th arrondissement): another family district, and above all much more accessible, Gambetta is slowly changing its face to become a place where life is good. There is a village atmosphere, a lot of conviviality, without losing dynamism! While the 20th is much more popular than the 15th or 16th, it is nevertheless a neighborhood worth considering.

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Market trends in 2024

The overall trend for 2024 shows a stabilization or slight decrease in prices, partly due to rising interest rates that have limited households' ability to buy. Historically very popular districts, such as Saint-Germain-des-Prés or the Marais, remain expensive with prices above 15,000 €/m². Several trends are emerging:

  1. Investment in outlying boroughs: With more affordable prices and urban development projects booming, the 18th, 19th and 20th arrondissements are attracting a new generation of buyers and investors.
  2. The return of the attractiveness of the historic centre: The central districts continue to benefit from strong demand from an international clientele, ready to invest in exceptional properties.
  3. Ecological and sustainable projects: More and more new developments incorporate environmental criteria. Buyers, sensitive to climate issues, prefer energy-efficient properties that include green spaces.

Conclusion: Paris, a safe bet for real estate

Investing in Paris in 2024 remains an excellent opportunity, whether for a second home project, a pied-à-terre or an urban retirement. With its rich history, lively cultural life and position as an economic crossroads, Paris continues to attract a discerning clientele. There are many opportunities, whether you want to settle in a prestigious district or discover the new faces of the booming arrondissements.

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