Lofts : the appeal of spaciousness
Maintaining their share of popularity, lofts draw a clientele of Parisian fans in search of exceptional volumes. Won over by the esthetics of these amazing settings of timeless charm, families, couples and artists are prepared to part with considerable sums of money for their acquisition, often the result of love at first sight...
Comprising a niche sector, former factories, garages, boutiques etc., rehabilitated as living accommodation for private individuals, are dotted here and there around Paris, and especially in its closest suburbs, as explained by Julien Haussy, founder and manager of the Espaces Atypiques network. “These former premises once dedicated to work and now transformed into lofts are to be found in particular in the north-eastern neighbourhoods of Paris and département 93 including, among others, the communes of Saint Ouen, Montreuil and Pantin. This type of property is, however, rare on the market : there is very limited supply as compared to demand. Prices are, of course, set depending on the location. In the 11th arrondissement, for example, the price bracket revolves around 10,000 € per sq. metre, while in département 93 average prices range from 5,000 to 7,000 € per sq.m. Taking into account the fact that a loft which has been treated to successful transformation and is located in a highly-prized neighbourhood in Paris can easily soar to 15,000 € per sq.m… We recently sold a very fine loft of 250 m2 on Rue Charlot in the Marais, priced at 2,600,000 €. By way of comparison, one of our latest sales in Montreuil concerned a contemporary loft of 130 m2 prolonged by a terrace of 20 m2, which sold for 750,000 €.”
Offering features that depart entirely from the classic characteristics of Haussmann apartments, lofts are not suited to all buyer profiles, and win approval only if they have been given a successful makeover. As explained by Christophe Thibaudeau of the Agence Daniel Féau : “It is the level of renovation and the work of the architect which will be decisive factors in the appeal and price of this type of property. Such is the case of one example near the Saint Martin market that we are currently offering for sale at 3,140,000 €. It stands out for its perfect restructuring and top-quality rehabilitation, with the bonus of a well-being area with a swiming pool, a rare asset in Paris. Lofts that met with great success in the 1990’s now change hands at top dollar prices in the capital, largely exceeding prices for ordinary ground-floor apartments. Remarkable achievements with top-notch appointments immediately win the hearts of clients with high purchasing power. Even so, while Parisians are fond of lofty volumes, they are less keen on spaces without any partitions at all, unlike Americans for whom they are part of their culture. French buyers want bedrooms with walls. Another fly in the ointment is overhead lighting, which can sometimes be a problem : it is a very special kind of light that does not suit everyone’s taste”.
