Although the real estate price in Paris has been slightly going down this 2023 year, the overall average residential value in Paris has increased by 22% over the past ten years. According to the property's location and features, the average property price of an apartment in Paris is 10 082 € m², ranging from €6,710 to €16,441 per square meter. Location is more important than the property itself when it comes to the real estate value. However, how much does location matter regarding real estate prices? Here are some of Paris's most expensive neighborhoods and prestigious streets for rental or investment.
What are the 5 most expensive residential streets to invest in or to rent in Paris?
1. Quai des Orfèvres, 75001: €23,002 m²
2. Rue de Furstemberg, 75006: €22,582 m²
3. Rue Guynemer, 75006: €22,483 m²
4. Place Saint-Sulpice, 75006: €21,982 m²
5. Avenue Montaigne, 75008: €21,786 m²
For those fans of the Monopoly board game, you might be disappointed to discover that neither the renowned Rue de la Paix (situated between Place Vendôme and Opéra) nor the Avenue des Champs Élysées in the 8th arrondissement of Paris hold the top spots on residential value anymore; they are no longer the most expensive addresses in Paris. Surprisingly, the Quai des Orfèvres, located by the Seine River on Ile de la Cité, has claimed the top spot, commanding a staggering price of €23,002 m². Taking second place is Rue de Furstemberg; you might recognize it from the famous film adaptation of the novel 'Age of Innocence' by Edith Wharton. This street is in the heart of the 6th arrondissement in the Saint-Germain-des-Prés neighborhood on the Left Bank, just a short distance from the Luxembourg Gardens, boasting an average price of €22,582 m². Finally, priced at €22,483 per square meter, the Rue Guynemer in the Odéon neighborhood of the 6th arrondissement secures the third position in high values. To complete the list of the five most expensive streets in Paris is Place Saint-Sulpice (€21,982 m²) in the 6th district and Avenue Montaigne (€21,786 m²) in the Golden Triage area in the 8th district of Paris.
What are the best neighborhoods to invest in in Paris?
Avenue Montaigne, 75008 Paris: 21 859 € m²
Located in the 8th arrondissement of Paris, Avenue Montaigne is known for its luxury boutiques, prestigious fashion houses, and the Plaza Hotel. It is often referred to as one of the world's most fashionable streets and is home to high-end residences.
Quai de Bourbon, 75004 Paris: 19 062 € m²
Boarding the Seine, Quai de Bourbon, located on the Île Saint-Louis, is a charming street known for its picturesque views, historic architecture, and exclusive real estate properties. Because of the limited amount of property available in the market, Ile Saint Louis and Ile de la Cité, another island on the Seine River, are two of the wealthiest areas to live in Paris. Other prestigious addresses on Île Saint-Louis are Quai de Béthune, Quai d'Anjou, Quai d'Orléans, and Rue Saint-Louis.
Place des Vosges, 75003, 75004 Paris: 19 088 € m²
Place des Vosges is a highly renowned and historic Square in the trendy Le Marais neighborhood. It is considered one of Paris's most beautiful and iconic squares and an exceptional property holding immense cultural and historical significance. Place des Vosges features stunning 17th-century architecture and elegant arcades. The square's appeal lies in its rich heritage, charming atmosphere, and prestigious addresses surrounding it.
Avenue George V, 75008 Paris: 16 564 € m²
In the 8th arrondissement of Paris near the Champs-Élysées, Avenue George V is known for its luxury hotels, upscale restaurants, and high-end shops. In addition, it offers exclusive residential properties and attracts affluent residents and visitors.
Rue de l'Université, 75007 Paris: 15 044 € m²
Located in the 7th arrondissement of Paris, Rue de l'Université is a famous street known for its elegance and proximity to several important landmarks. Rue de l'Université runs parallel to the Seine River, and is close to iconic attractions such as the Eiffel Tower, Les Invalides, and the Musée d'Orsay. Beautiful Haussmannian buildings, upscale residences, and stylish boutiques charm that street.
Rue de l'Université, 75007 Paris
Place Vendôme, 75001, 75002 Paris - 14 070 € m²
Place Vendôme is an iconic Square in the 1st arrondissement notorious for its world-known luxury jewelry stores and the Ritz Hotel. The square is surrounded by elegant buildings and is home to some of the most expensive residences in Paris.
Place Vendôme, 75001 Paris
Boulevard Saint-Germain, Paris (75005, 75006, 75007): 15 337 € m²
Located on the Left Bank of Paris, Boulevard Saint-Germain is a famous and vibrant thoroughfare with significant cultural and historical importance. It is renowned for its lively atmosphere, fashionable shops, cafes, and iconic landmarks. Boulevard Saint-Germain stretches across several arrondissements, including the 5th, 6th, and 7th, some of the best neighborhoods to invest in Paris. Also, Boulevard St. Germain intersects other noted streets, such as Boulevard Saint-Michel and Rue de Rennes.
Avenue Foch, 75016 Paris: 12 941 € m²
Located in the 16th arrondissement of Paris, Avenue Foch is one of Paris's broadest and most prestigious residential streets. It has grand mansions, embassies, and luxury apartments, making it a sought-after address among the wealthy.
It is a fact that location is more crucial than property when purchasing Real Estate Property. However, your sentiment towards the property and the neighborhood is another essential aspect.
Credit Photo@Maxime Gilbert
Sources: meilleursagents
Editor: Siyi CHEN
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