These districts of Paris are most popular amongst Americans in France

Certain arrondissements in Paris are becoming increasingly popular with American buyers, high-end estate agencies are saying, in a trend that coincides with President Donald Trump coming to power.

The trend towards a “strong return of American clientele” began in January and has increased since then, high-end estate agencies have noted.

This is particularly true among “high net-worth individuals (HNWI)”, said estate agency Galivel & Associés in a recent update.

“Americans find it very reassuring to buy [property] in the French capital, because it is hard to imagine that the value of Parisian real estate could ever collapse,” said Richard Tzipine, managing director of Barnes, to Capital.

“Many people disappointed by Trumpism want a pied-à-terre in Paris to live in for at least six months of the year,” he said.

Others intend to emigrate permanently, with the estate agency also reporting a growing appetite among Americans for family apartments.

Read more: How many Americans live in Paris - and where else are they choosing in France?

A study by the Notaires du Grand Paris recently found that the average American budget for an apartment in Paris is €715,000 (twice that of the average French person), but many HNWIs can afford to pay much, much more.

The most popular arrondissements for Americans

The most popular arrondissements for Americans are: 

• 6th - Due to the Saint-Germain-des-Prés neighbourhood and the 17th and 18th century buildings

• 7th - Good schools in the Gros-Caillou, between the Champs-de-Mars and Les Invalides

• 4th - The Marais with iconic landmarks Notre-Dame Cathedral, the Île Saint-Louis and Île de la Cité

• 18th - Becoming more popular most recently, and less expensive than the 4th and 6th

Some clients can afford to pay more than €30,000 per square metre, with “20% of buyers foreigners, 80% of which are American” for these super-high-end properties, said Mr Tzipine.

Americans tend to fall into two categories, estate agents say.

• Older Francophiles interested in heritage and culture. They want properties with parquet flooring, mouldings and fireplaces.

• Younger buyers who favour livelier neighbourhoods and want new or already renovated properties.

American buyers also look for high-end details such as home automation, air conditioning, and shared spaces including a swimming pool, gym, concierge with dry cleaning services, etc.

Read also: A Parisian explains his city’s 20 arrondissements

‘Emotion, not functionality’

The average price per square metre for high-end property is around €18,000 in the 6th and 4th arrondissements, said Mr Tzipine. However, Americans who buy in these districts of Paris are typically happier to buy smaller spaces that have more character, he said.

“In these arrondissements, they are looking for ‘emotion’, not functionality,” he said.

Those who cannot afford a family apartment at more than €20,000 per square metre are now increasingly heading for the 18th arrondissement, with the Butte Montmartre, he added. 

Prices have increased by 35% in this area since January with the average price per square metre in the high-end market in the 18th and near Montmartre some €16,500, he said - significantly less than the prices seen in the 6th and 4th.

Fall in 8th arrondissement interest

In contrast, the 8th arrondissement is becoming less popular.

Average prices in the 6th, 7th, 4th and 18th arrondissements have either stayed stable or risen since January, but the Barnes network estimates that prices have fallen - in contrast - by 9% in the 8th arrondissement.

This district has historically been especially popular among foreign investors, with 60% of property purchases made by buyers from the UK and US, said Mr Tzipine. 

Yet, the estate agency said that foreign buyers are now starting to favour the 7th arrondissement instead of the 8th.

Read also: Large increase in Americans buying properties on the Cote d’Azur

Read also:  How many Canadians live in France - and where?