Real estate in Paris – Should you buy or rent your future home?

For people planning to settle in Paris, many questions remain. Between buying and renting a property, the choice to be made is quite complex. Each of these options has its specificities.

Is it better to buy or rent in Paris?

Paris being the first city of France, the price of the real estate is definitely high compared to that applied in the other cities. The question that often comes up is: which choice between renting and buying would be more advantageous economically?

Renting involves certain costs like agency fees, security deposit (which can be returned) and local taxes. You must pay this tax at the beginning of each year. Finally, it will be necessary to plan for incidental expenses such as insurance costs.

To proceed with the purchase of a property, it will ideally be necessary to carry out certain specific steps. For example, you will have to take out a loan (very expensive), provide for notary fees and make a personal contribution. In addition to this, you must take into account local taxes, home insurance and possible works.

Renting a property requires little investment compared to buying. When conducting a 5-7 year study, leasing is more beneficial. It is therefore suitable for short to medium term use. On the other hand, to live in Paris for the next 20 and 25 years, making a purchase would be a wise choice.

What is the price of real estate in Paris?

Person holding a coin, pile of coins in front of a small cardboard house

The price of real estate in Paris depends on several factors such as the nature of the property, its surface area, its characteristics and its location. The price of real estate in Paris (house) varies between €9,000 and €14,000 per m². The average cost per m² is estimated at €11,700. The 6th and 7th arrondissements have more very expensive homes.

For an apartment, the average sale or purchase price is €10,900. For rent, the m² of an apartment is worth €32.70 on average. This price can reach €37.80, its highest amount. Houses are cheaper to rent than apartments. Their average price is €31.50.

What is the most expensive neighborhood in Paris?

City of Paris with the Eiffel Towers

In Paris, the most expensive neighborhood is in the 7th arrondissement. This is the Saint Thomas d’Aquin district. While the m² is estimated at 11,700 on average in Paris, real estate experts estimate that in Saint Thomas d’Aquin, the m² can be worth 16,800 €. This area is home to the Musée d’Orsay, the Pont Royal, the Chapel of Our Lady of the Miraculous Medal.

The Saint Thomas d’Aquin district is also home to the prestigious monument of the Eiffel Tower and the Champs Elysées. All this could explain its very high real estate price. However, the prices mentioned here may vary depending on several parameters. Nevertheless, on average, the prices charged in this district are generally high compared to those of other cities and regions.

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