Monumental Paris continues to be the most sought-after city in world tourism, according to the latest ranking of euro monitor international. And also the favorite city of the super-rich, those whose assets exceed 30 million dollars, and who number just under 400,000 worldwide..
In Paris, home purchases priced over €3 million rose by 43% in 2021, and in 2022, the increase was still 14%.
"These acquisitions are no longer just in the 6, 7, 8 or the Marais, but also in the 10, 19 and 20, which are the new ?arrondissements? of fashion. The high-end market is spreading across all 20 districts of the French capital, each of which has its own Golden Triangle," analyzes Richard Tzipine, vice president of Barnes, commenting on the study that the consulting firm has now released.
This is the case in the unexpected 9th. It is there, in the Saint-Georges district to be precise, that a large apartment has been sold for over 75,000 euros per square meter. A record for 2022!? ? underlines Richard Tzipine, quoted by Diário Imobiliário.
For decades, the luxury real estate market was limited to a few ?arrondissements? in the west and center of Paris. But according to the latest Barnes study, ?that has now changed?; all 20 arrondissements attract a population of highly affluent people who want to own homes in the capital light. ?nothing short of a revolution and a sign of a new and probably long-lasting approach to Parisian life? - says the BARNES expert.
According to that expert, ?the transformation of traffic conditions in the city center and the abandonment of the car as the main means of transportation have a role to play in this phenomenon. Shoppers now rationalize in terms of travel time, realizing that they can cross Paris by bus, metro or bicycle in 20 minutes. This has significantly broadened their field of vision?
What we are seeing, for both French and international clientele, is a new way of approaching real estate acquisitions in Paris? - he says.
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