The most popular property types are large lateral apartments with two or three bedrooms, good views, and elegant traditional Parisian features, including high ceilings, ornate fireplaces, and history.
However, this should be offset with up-to-date interiors, high-tech lighting, the latest kitchen and bathroom design, laundry rooms, etc. Ideally, there should also be parking and staff accommodation.
Prime Paris pricing averages €28.000-€42.000 per square metre, with ultra-prime prices as high as €42-€60.000 euros.
The Left Bank, namely the arrondissements of the 6e and 7e, and the Golden Triangle area of the 8e, are principal areas of demand close to exclusive shopping and world-class hotels.
Families favour certain enclaves of the residential 16e to the west, where there are more green spaces while still being close enough to the city centre.
A newer area of current interest is the 1e near the Louvre, Palais Royal, the LVMH hotel Cheval Blanc and the Pinault Collection in the Bourse de Commerce. This is one of the oldest areas at the heart of the city.
The Left Bank area of the 7e, together with Palais Royal in the 1e, is seeing the greatest price growth. However, there is renewed interest in Avenue Montaigne in the 8e, where you can find some of the finest designer-brand boutiques, one of Paris’ most sought-after ‘grande-dame’ hotels, and a number of top restaurants and galleries.
Paris real estate decision-making is influenced by several factors. Culture and lifestyle rank highly, while several international banks are located here, reflecting the city’s status as a transport hub for the entire world.
Education has improved, especially for older children, with more universities and MBA schools.
Stamp duty is half the price of London at 7.5% for France, with no penalty for being a foreign company or individual. If you buy in France, you do not pay French income tax unless you reside here long-term ( most do not need to do this).