"These days, foreign buyers account for 90 percent of the clientele, with most buyers stemming from the Middle East, Africa and the United States," says Mr. More: Brexit Could Have French Heading HomeĪs one of Paris's most expensive neighborhoods, most residents are high-level executives, bankers and investors. Some of the city’s most sought after tables are found at restaurants including Maison Blanche, Alain Ducasse (at the Plaza Athénée), Manko, Yeels, and the trendy L'Avenue. Luxury label lovers will be in heaven with high-end boutiques such as Louis Vuitton on the Champs Elysées, French fashion houses Chanel, Saint Laurent, Dior, Balmain, and Chloé to name just a few, and the world's best bespoke tailor, Arturo Cifonelli. Instagram-worthy moments abound here at some of Paris's most famous landmarks, such as the Champs Élysées, the Seine River, and the Grand Palais. This exclusive enclave, home to some of the world’s most famous designers and fashion houses, is renowned for its luxury shopping, legendary hotels and restaurants.
These historic buildings are interspersed with modern ones that have been built in the last 50 years."Ī five-bedroom, four-bathroom apartment on the Right Bank in the Golden Triangle is asking $9.7 million Kraft explains, "Like in many other parts of Paris, most homes are mid-to-late 19th century buildings in the Haussmann style (named after Baron Haussmann, Napoléon III’s building prefect who rebuilt Paris starting in 1854). The neighborhood is quintessentially Parisian. Ground floors are significantly discounted, and there is a premium price for top floors with views of the Eiffel Tower." ( Quelle surprise!) Julie Fine, a Senior Agent at Haussmann Prestige Paris says, "It could be possible to find an apartment for around 1,300 euro (U.S.$1,500) per square foot, but it will most likely need a complete renovation, and will depend on which floor it is located. As for the ultimate address? he says, "Avenue Montaigne remains the most sought-after street, particularly when a property has balconies or terraces." Overall, square meter prices tend to be approximately 30% to 150% higher than in other Paris neighborhoods, according to Mr. More: Pink Floyd Keyboardist Rick Wright’s Former Home in the French Riviera is For Sale Apartments start at approximately 1.3 million euro to 1.8 million euro (U.S.$1.5 to $2 million), but can quickly reach double-digit numbers in the millions."
He also notes that, "Single family homes (called 'hôtels particuliers' or townhouses) are extremely rare and start at approximately 4.5 million euro (U.S.$5 million), but can easily exceed 18 million euro (U.S.$20 million). Alexander Kraft, Chairman and CEO of Sotheby's International Realty France, breaks down the numbers and says, "Prices start at $1,340 euro (U.S.$1,500) per square foot, and can exceed $3,600 euro (U.S.$4,000) per square foot for prime properties."
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