In just 25 years, the average Paris apartment has become 5 times more expensive. With many people dreaming of moving to Paris and having their own slice of the city of light, you may be wondering, what is the richest neighborhood in Paris?
While the old-money 16th arrondissement was long considered to be the richest neighborhood in Paris, according to recent real estate prices, the most expensive neighborhood in Paris is actually found in the 7th arrondissement. Just across the river Seine, a neighborhood named after a French philosopher, Saint-Thomas d’Aquin, is the richest neighborhood in Paris. The left bank neighborhood includes beautiful streets such as Rue du Bac, Rue de Verneuil, and rue de Grenelle. Real estate in this neighborhood reaches an average of 16,846€ per square meter, making it the richest in Paris.
Famous residents such as fashion designer Karl Lagerfeld (quai Voltaire), musician Serge Gainsbourg (rue de Verneuil), and even Mick Jagger (rue Sébastien-Bottin) have surely helped boost the tony neighborhood’s reputation.
Across Paris, the average apartment costs 10,689€ per square meter, making this 7th arrondissement neighborhood roughly 50% more expensive.
The second richest neighborhood in Paris is not far, and it’s one of the most popular with tourists: Saint-Germain-des-Prés. Located in the 6th arrondissement, Parisian apartments in Saint Germain cost an average of 16,542€ per square meter.
The third richest neighborhood in Paris is technically an island – yes, Île de la Cité, the historical heart of Paris, will cost you an average of 16,505€ per square meter to call home. With the Notre Dame cathedral at your feet and the Seine river all around, how could you resist, anyway?
The neighborhoods of Rennes (in the 6th) and Vendôme (in the 1st) were also noted as among the most expensive neighborhoods.
Oddly enough, when looking at the most expensive arrondissements of Paris, the 8th comes in at the top spot.
Remember, arrondissements are not the same thing as neighborhoods in Paris. They’re sort of like administrative counties within Paris.
Finally, if you want to know the most expensive street in Paris, it’s located in the 6th arrondissement: Rue Guynemer. On Rue Guynemer, you’ll need an average of 23,008€ per square meter to find your dream home. This residential street is located on the western border of the stunning Jardin du Luxembourg, and stretches from its northern to southern perimeter. With lovely park views, it’s not hard to understand why it’s the most expensive residential street!
Other rich streets in Paris include Place Saint-Sulpice, Rue Palatine, and rue de Furstemberg, all located close to each other in the 6th arrondissement.
Real estate prices in Paris show no signs of slowing down. If you’re thinking about purchasing an apartment in Paris, don’t wait much longer. According to French real estate aggregating website SeLoger, prices will keep rising.
Sources: SeLoger & Actu