What is the best area to live in Paris?Best place to rent in Paris Among the 20 districts of1
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Posted at January 9, 2020
Every year, real estate purchase prices climb in Paris. On the other hand, apartments for rent cost less. Is it a good investment, to buy an apartment in Paris?
In some districts, especially Paris IV, VI, and VII, the figures are exponential. For a middle-class family with two salaries, the price of a two-bedroom apartment for sale has become unaffordable. We are talking about an annual increase of 12% to 13%.
If you want to buy a two bedroom apartment & two baths on Avenue Victor Hugo Paris 16th, count on 2 million €. Near the street of Lille Paris VII, two bedrooms and a bath call for 2,295,000 €; or again, a two-bedroom apartment with a shower room near the Champ-de-Mars, with a built-in kitchen on the wall of the living room, is worth € 1,200,000. While rue de Seine in the 6th arrondissement, 90 m2 with two bedrooms and two bathrooms are being snapped at 2 million one hundred thousand €, an apartment similar near Cluny- La Sorbonne in the 5th district sells for 1 500 000 €. In the 4th arrondissement, near the Place des Vosges, a 62 m2 two-bedroom apartment with one bath is selling for € 1,200,000. In the 2nd arrondissement, close to Opera Garnier, a 2 bedroom and 2 bath apartment reaches € 1.7 million.
In other words, those who wish to buy a two-bedroom apartment in Paris below a million € will find nothing! Only because those apartments disappear fast. So much so that some buyers commit to buying without even seeing the apartment!
With such difficulties to find a two-bedroom apartment for sale in the center of Paris, buyers head to the 19th, 20th district, but "bobos" (bourgeois- bohême) young Parisians with comfortable salaries are snapping that area too, and prices are rising just the same. Not burdened yet by school worries, “bo-bos” bring with them the need for restaurants, chic cafes, and fashion boutiques. Soon, these neighborhoods are gentrified and prices are rising as well. Also, the purchase price varies from the type of property. In general, the difference in price per square meter between new and old property is around 15 to 20% depending on the city.
Beautiful and spacious Parisian apartments are shared between foreign buyers (Americans, Chinese ...), wealthy professionals from Brexit, and the richest French clientele. The most sought-after apartments and mansions are those that have been transformed at great cost into luxurious quarters in a contemporary style.
The Parisian market is therefore unbalanced. Classic apartments for a French clientele with family are rare and far between. So much so that their occupants do not dare to move from their “becoming too small” apartment, because they fear not even finding an identical surface, let alone a larger one, with the money of their own sale. There again, apartments on the market have been carefully renovated and have become out of reach.
So where to go? In the suburbs, trains run randomly and motorways are full. Then again, apartments are becoming more expensive. In this context, choosing to cross the Paris ring road (périphérique) for more affordable prices can also mean isolating oneself. Suburbs often lack cafes, restaurants, cinemas, and even sidewalks!
Fortunately, there are furnished and unfurnished rentals. And the prices of rent are somewhat down, or at the most stationery.
Thus, Paris Rental offers fabulous choices of two-bedroom apartments with 1 or 2 baths, for an average budget of 1900 € to 3000 € per month, excluding prestigious exceptions like apartments with terrace, double-living room, high ceilings, duplex, exceptional view on a monument of Paris, which rents can go up to 8 000 €.
Furthermore, to know more precisely how much a two-bedroom apartment in Paris rents for, you can use the rent comparator of the search bar of ParisRental.com to get a general idea of furnished apartment rentals in Paris.
The advantage of renting a furnished apartment with Paris Rental is to be able to have quality apartments in the most sought-after arrondissements, without having to change one’s lifestyle -buying an apartment in Paris can imply having to cut down on a few things for a while.
The two-bedroom apartments for rent have surfaces ranging from 65 to 100 m2, offer comfortable furniture, television, and, at times, the Internet is installed and included in the rent. In other words, when you add up all the extras you do not need to invest in by renting, you may find renting a furnished apartment more economical and comfortable.
Often, two-bedroom apartments are rented to expatriate families with children. That is to say that children attend bilingual international schools. Paris Rental has several partnerships with international schools and can obtain for its customers an appointment in 24 hours.
In other words, buying a two-bedroom apartment in Paris has become a challenge, while renting in Paris is cheaper than buying and above all much easier to find.
Crédits Picture @Max DeVesty