Left Bank real estate is now the priciest in Paris

Wealthy Americans are driving the price hike in Sixth Arrondissement

New York /
Jan.January 12, 2014 02:00 PM

 Once home to the likes of Gertrude Stein, Ernest Hemingway, Jean-Luc Godard and Jean-Paul Sartre, Paris’ Sixth Arrondissement has become the most expensive neighborhood in the city.

Elite American and European buyers have helped push the average price for an apartment in the Left Bank neighborhood to $1,589 per square foot, according to Chambre des Notaires de Paris figures cited by the Wall Street Journal.

That is more than $93 per square foot above prices in the next priciest district — the Seventh Arrondissement, which has long associated with France’s elite families.

“Foreign buyers have made the new benchmark in prices,” Jules Caris, managing director of La Galerie de l’Immobilier, a Left Bank real-estate agency, told the Wall Street Journal.

And Marie-Hélène Lundgreen, director of Belles demeures de France, the Paris-based agency affiliated with Christie’s International Real Estate, added that “when you go over $5 million, 80 percent aren’t French residents.” [WSJ]Christopher Cameron


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
For 15 years, David Koch lived at the world’s “richest building”
For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Exterior and amenities of 85 Jay Street in Dumbo. (Front & York)
Two Brooklyn homes asking $8M go into contract
Two Brooklyn homes asking $8M go into contract
Steven Mnuchin and 740 Park Avenue (Getty, Google Maps)
Steven Mnuchin’s $26M home finally finds a buyer
Steven Mnuchin’s $26M home finally finds a buyer
The Penthouse at 60 Broadway in Williamsburg. (Compass)
Brooklyn sees 41 luxury deals inked last week
Brooklyn sees 41 luxury deals inked last week
FiDi condo supply is through the roof as workers delay office return. (Getty)
FiDi condo glut is through the roof
FiDi condo glut is through the roof
168 Plymouth Street (Alloy)
Brooklyn nets $125M in signed luxury contracts
Brooklyn nets $125M in signed luxury contracts
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...