The property market in Paris differs markedly from that of other French cities. The appeal of the capital draws people from far and wide to live there, while millions of tourists pass through every year, giving the market its own constantly evolving dynamic.
For years, this has driven prices upwards or, when they have declined, caused them to fall only by very small amounts.
The city itself is relatively small and has 20 arrondissements set out in a clockwise spiral encircled by the périphérique ring road. Walking from one side to the other takes just over two hours.
Central Paris has a relatively constant permanent population of around 2.1 million. The greater Paris area – known as Grand Paris in French – has around 6.85 million inhabitants and encompasses the city of Paris alongside the departments of Seine-Saint-Denis, Hauts-de-Seine, and Val-de-Marne.
Property websites list far fewer houses than flats in Paris. The former tend towards the small (under 100m²), and may have minimal outdoor space, if at all. Prices start at €500,000 rapidly rising to €5million and more.
However, property listings and estate agent windows only illustrate part of the housing market in France’s capital.
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There is also a thriving subletting system, not all of it legal, which accommodates a significant number of people and provides an unofficial shock absorber for the constant housing shortages.
In Paris you will likely also come across adverts for a chambre de bonne – typically the former servants' quarters located just beneath the roof in most Haussmann-style buildings.
For many years these rooms were among the cheapest rental options in the city, but are now largely sold as independent flats, with €70,000 purchasing a 7m² unit, often featuring a single skylight and a lavatory shared with other residents on the same floor.
HLM (habitation à loyer modéré, or low-rent/social housing) is sometimes located in the most desirable areas of the city.
Checks are supposed to ensure tenants continue to earn the low incomes they had when they first qualified but media reports often highlight cases where the situation has been abused.
It is said that no home in Paris is further than a 10-minute walk from a bus or metro station. Be aware that, should you choose to keep a car, parking comes at a premium.
Properties in Paris
Under €100,000
Situated in the relatively upmarket 14th arrondissementCDIM SAS
While small (just over 7m²), requiring an interior refresh and with a lavatory shared with others living in similar rooms, this flat is situated in the relatively upmarket 14th arrondissement and costs only €70,000.
An additional advantage is the presence of a rail in the courtyard to which a bicycle can be secured.
This flat in a Haussmann-style building is on the market for an asking price of €499,000. It is located in the Montmartre district set on a hill on the right bank, which for many years maintained a certain distance from the rest of the city.
With 43m² of living space and one bedroom, it features terracotta tiles in the main living room, two large west-facing windows overlooking the street that allow ample sunlight, and what appear to be the original floorboards in the bedroom.
There is also a combined kitchen and dining room, along with a bathroom and toilet. The flat includes a cellar in the basement and parking space for a bicycle.
Haussmann-style building dating from 1890Cours Saint-Gemain
The islands in the middle of the Seine have long been considered among the most desirable places to buy in Paris.
This flat with 163m² of living space is in a Haussmann-style building dating from 1890 and situated on Île de la Cité. It has an asking price of €3.1million, and is one of very few properties in the area that come up for sale each year.
The agents marketing the property caution that some work will be required. Situated on the third floor with a lift, the flat includes a 56m² living room with parquet floors and ceilings three metres high. In total, five of the windows provide direct views of the river.
There are three bedrooms, two with en-suite bathrooms, a kitchen, and a separate 27m² studio flat, which can easily be reintegrated into the main property. The flat also includes the right to a cellar in the basement, described as being in good condition – not always the case in buildings located so close to the river.
