Paris in all its glory
With its wide tree-lined avenues, handsome buildings designed by Haussmann, renowned schools and attractive shops, the elegant 16th arrondissement north has retained its aura and prestige, always drawing a wealthy clientele, especially families, impressed by its fine art of living. Focus on a high-end market…
A decidedly bourgeois arrondissement, the “16th north” is characterized by its rich array of properties and smart architecture, including a good number of Haussmann apartments with lofty volumes. Proposing an ideal setting for quality living, quiet and peaceful, it is reassuring for buyers, both French and foreign. “It’s a very pleasant area to live in, central in Paris and near the “périphérique” (ring-road),” explains Valérie Selignan, manageress of the Daniel Féau Victor Hugo agency. “It’s also a neighbourhood highly-prized by families due to its very good schools, particularly the Janson de Sailly public secondary school, renowned for its preparatory courses for admission to the “Grandes Écoles” ; many buyers want to be close by. There are also very good private secondary schools such as Francklin, Saint-Jean-de-Passy and L’Institut de la Tour. We recently sold a very beautiful Haussmann apartment of 230 m2 to an American family, on Avenue George Mandel, one of most sought-after in the 16th, with three maid’s rooms and three parking places, priced at 3,450,000 €. Even though the majority of transactions now involve properties up to 2 million euros, very desirable examples still sell well and at high prices. On the other hand, on a market with a good supply of available properties, which is the case of the 16th which has seen a huge wave of departures over the past three years, apartments with any defects are penalized and stay on the market.”
Outstanding apartments offering prestigious addresses and lovely open views always find takers in this neighbourhood, even at high prices. Which is not always the case for so-called “reception” apartments from 120 to 300 m2 that are beginning to age and are less well situated, apartments which suddenly appeared in considerable numbers on the market, as explained by Fabrice Le Ruyet, CEO of Sothebys : “Large apartments of over 200 m2 were particularly badly hit by the crisis and the departure of French owners leaving the country. Though since the spring, sales have gradually begun to pick up, calling a halt to the drop in prices, even if we are clearly faced by a buyers’ market. On average, prices per sq. metre in this part of the 16th arrondissement range from 8,000 to 10,000 €, 11,000 € for top floors, and up to 14,000 € on exclusive avenues such as Georges Mandel and Henri Martin. Characterized by wide diversity in terms of architecture, the neighbourhood also plays host to recent residences of high-quality construction and a good number of town houses on small private drives, quiet and tucked away, like one lovely house with a patio and terraces of 600 m2 which we just sold to French clients for 7,300,000 €. These little oases of greenery nestling at the heart of the city (Avenue Victor Hugo, Rue de la Pompe…) are still highly sought-after and attract a clientele both French and foreign, wanting to live in Paris while benefiting from tranquillity and security”.
Residential but also lively thanks to the presence of many well-known addresses bearing the most prestigious brand names in the world of fashion, high-quality food stores and a wealth of gastronomic restaurants, the northern part of the 16th draws many foreigners in search of the French art of living, as pointed out by Gabrielle Dorfmann, associate director with Mobilis : “The 16th north is close to the Etoile and the 8th arrondissement, neighbourhoods of which foreigners are particularly fond. The area draws a considerable number of clients from Lebanon, Brazil, the East, China and, of course, the USA, for whom the 16th arrondissement is a symbol of the Parisian bourgeoisie. Beautiful Haussmann architecture and the presence of many museums, parks and gardens (Ranelagh, Trocadéro…) attract an international clientele while also appealing to French buyers. It’s an arrondissement which is delightful to live in, where old buildings offer real quality and where one also finds attractive shopping areas such as the Rue de Passy or Avenue Victor Hugo. There are also lots of beautiful views in this area which make prices per sq. metre rise. Such is the case of a penthouse of 90 m2 in perfect condition, with a long balcony running along its facade, offering a 360° view of the monuments of Paris, which we sold at 19,000 euros per sqm. A price which may seem exorbitant, though in comparison to cities like New York and London, Paris is still less expensive”.
