A new study reveals that Paris luxury real estate is the second most dense in the world.
This means only the tiny city-state of Monaco boasts more luxury properties per square kilometer.
We take this opportunity to look at the report, along with a small selection of luxury properties currently listed with 56Paris.
Paris luxury real estate exceeds London and New York
On the global market, luxury real estate is defined by many factors.
In this new study, the definition of 'luxury' real estate is properties for sale over €3.5 million. This is equivalent to US $4.1 million at today’s exchange rates.
Of course, luxury real estate can certainly be less expensive than this benchmark. Especially a smaller apartment, that may not reach such a price, while still being ultra-luxurious.
Next, the study looks at the overall volume of available properties on the market in each destination, followed by the density of luxury properties within that market.
In total, 15 of the top international real estate markets make up the results.
The conclusion: Paris has more luxury real estate per km² than London, New York, and all other global markets.
The other luxury international markets
As one of the world’s smallest countries – only Vatican City is smaller – Monaco is a unique real estate market.
A tiny enclave with fewer than 20,000 properties in total, it’s really no surprise the density of luxury real estate is so high in such a tiny area.
But Monaco aside, when compared to all the other global markets, Paris comes out on top.
The study reveals that Paris has more than five luxury properties per square kilometer. That is twice as much as New York, the third city in this ranking. London follows, with 1.7 luxury properties in the same space.
In total, 3.3% of properties listed in Paris pass the ‘luxury’ threshold as defined by the study.
Your own Paris luxury real estate
In Paris, luxury real estate doesn’t even have to be an apartment. An example is this unique three-story house currently for sale.
Situated between the Left Bank and the historic Marais district, the Ile Saint Louis is a residential village, within the center of Paris. This property is the only freestanding house on the island, with three bedrooms and three baths.
If you want to look at a luxury Parisian apartment, this elegant and three-bed French Parliament property is exceptional. Set in a Haussmannian-era building, it has triple exposure and retains the original molding and herringbone hardwood flooring.
Alternatively, just outside of the city, we also have a stunning and unique Parc de St. Cloud property.
Set on Louis XIII’s former royal hunting ground in the village of ville d’Avray, this 19th-century mansion boasts eight bedrooms, five bathrooms, lavish reception rooms, a large terrace, a pool, and a separate apartment. With sweeping views of the Paris skyline, it is set on over an acre of land.
Last but by no means least, is a smaller property which certainly ticks every box of luxury. This one-bedroom one bath Bellechasse apartment is fully renovated, and located in the most exclusive part of the 7th arrondissement (district).
The experts at 56Paris are here to help
Whatever your interest in Paris luxury real estate, 56Paris is here to help you.
Please do not hesitate to get in touch with our property experts, who are continuing to successfully work with clients in the current climate.