French property prices by region
The French property market has traditionally been distinguished by stability. Over the years, residential real estate prices in France have steadily been upbeat in Paris, Côte d’Azur, and major cities of the provinces with international airports.
Although the economy of France has been affected by the COVID-19 pandemic, the real estate market remains stable. Real estate experts in France (FNAIM) point to a decrease in average monthly prices by 0.3% in 2023 after the record numbers of 2021, which is associated with an increase in gas prices and new environmental laws, but annual statistics show an increase at the national level by 6.3%. There is an increase in the share of foreign investment, analysts say about a favorable moment for buying real estate at a reduced rate now.
According to the MeilleursAgents the average cost per square meter in France is approximately 6,420 euro in June 2023. To buy a house, one has to pay up to 242,000 euros. Apartments have gone up in price even more by 3.1% and start from 214,000 euros, whereas the average prices in Paris begin from 547,000 euros.
The economy of France is stronger and not so debt-ridden as the one in its Mediterranean neighbours. Paris is also a determinative factor that looks a convincing alternative to London as the prospects for Brexit remain foggy.
Average real estate prices in France as of 1 June 2023
City | Apartment price, €/m² | House price, €/m² | Apartment rent price, €/m² |
---|---|---|---|
Paris | 10,082 € | 10,753 € | 30,0 € |
Marseille | 3,716 € | 4,438 € | 15,5 € |
Lyon | 5,099 € | 6,667 € | 17,2 € |
Toulouse | 3,637 € | 4,122 € | 14,1 € |
Nice | 5,071 € | 6,253 € | 18,5 € |
Cannes | 5,942 € | 7,302 € | 17,4 € |
Nantes | 3,907 € | 4,758 € | 14,0 € |
Strasbourg | 3,966 € | 3,654 € | 14,5 € |
Montpellier | 3,449 € | 4,641 € | 15,1 € |
Bordeaux | 4,742 € | 5,507 € | 16,5 € |
Lille | 3,613 € | 3,329 € | 15,5 € |
Biarritz | 8,305 € | 9,235 € | 15,5 € |
Grenoble | 2,978 € | 3,462 € | 13,3 € |
Courchevel | 11,452 € | 11,579 € | 11,8 € |
Chamonix | 7,825 € | 10,713 € | 13,8 € |
Saint-Jean-Cap-Ferrat | 14,559 € | 20,454 € | 15,8 € |
Saint-Tropez | 10,941 € | 18,914 € | 15,4 € |
Paris
Paris is by right considered the city of love, arts, and fashion. Everyone dreams of going to the romantic capital at least once in a lifetime, but the few lucky ones live here.
While demand here is intense as people are in a mad rush for properties and supply is rather scarce, housing prices in Paris hit records every year. There are both buy-to-live-in and buy-to-rent property deals in the capital of France.
According to the World Tourism and Travel Council (WTTC) Paris is recognised as the most attractive city in the world for the contribution of tourism to the country’s economy in 2022. According to calculations, the contribution of Paris to the country’s economy through tourism has reached 35.65 billion dollars. Rental rates in the city proper are rather high: a 100 m² apartment would cost on average 3,000 euros per month.
Paris has always attracted tourists: there is no seasonality typical of other regions. Rental income in Paris is 3.9–4.2%. A survey by the Global Property guide shows that flats with smaller areas earn comparatively higher yields.
Property prices in Paris go up more dynamically than the average prices across the country. Apartment prices rose by 124% in France and by 245% in Paris from 2000 to 2022.
What Paris district (arrondissement) to choose?
Paris is divided into twenty districts (arrondissements). The arrondissements are numbered from 1 to 20 in a spiral pattern. There are no lookalike districts in the capital of France, and each arrondissement is a separate little world with its own atmosphere, history and champions.
The historic centre of Paris is located in the 1st–9th arrondissements. The heart of the city is home to the main Parisian landmarks, such as the Eiffel Tower, Champs-Élysées, Notre-Dame de Paris, the Place de la Bastille, the Panthéon, the Sorbonne, Palais-Royal, Le Marais district, the Latin Quarter, and the Galeries Lafayette. It goes without saying that the most expensive housing in the capital is also here with the prices in the first nine arrondissements of Paris jumpstarting from 11,000 euros per sq. metre.
Paris’s bourgeois arrondissements 5, 6, 7, and 8, lure wealthy homebuyers that look for one-of-a-kind offers. Investors acquire buy-to-rent studios and modest two-bedroom apartments. The prices start here from 11,920 euros per sq. metre.
Paris’s eastern arrondissements 10, 11, 12, 19, and 20, are popular with students as the property prices are modest. Housing here would cost 8,700–10,600 euros per sq. metre. The youth would also rather choose arrondissements 3, 11, and 12, known for its vibrant nightlife, bars and events.
The 14th and 18th arrondissements — Montparnasse and Montmartre — are the areas preferred by creative intellectuals and art lovers. Prices here are rather low keeping at 9,980–10,300 euros per sq. metre.
Arrondissements 15, 16, and 17, are of choice for families with children. There are many good schools and parks and spacious apartments with five and more bedrooms here. Prices here range from 10,000 to 15,000 euros per sq. metre.
The less favoured arrondissements 13, 19, and 20, are the cheapest with property prices as low as 8,700–9,400 euros per sq. metre.
Despite the crisis, real estate in Parisian suburbs is getting more expensive. Property prices in the Parisian suburb Ivry-sur-Seine gained 11.4% up to €5,100/m². Property prices in Versailles went up by 12.3%, reaching the royal highs of 7,370 euros per sq. metre.
Côte d'Azur
Côte d'Azur or the French Riviera is the Mediterranean coastline that stretches from Toulon, France through the Principality of Monaco to the Italian border. The luxury resorts of Nice, Cannes, and Saint-Tropez are located here.
Côte d'Azur is one of the most popular destinations among property investors — about 70% of transactions in the local property market are made by foreign buyers. They opt for Nice, Cannes, and the triangle Villefranche-Beaulieu-Cap-Ferrat.
Property in Côte d'Azur is in constant demand, which is far ahead of supply. Housing prices in this region are steadily on the rise, never falling even during the global financial crisis of 2008 and starting from 5,100 euros per sq. metre.
Saint-Jean-Cap-Ferrat
It is one of the most expensive locations in the world. This high-end sea resort is located 10 km from Nice in the picturesque peninsula Cap Ferrat. In the early 20th century, the land in Cap Ferrat belonged to the royal house of Belgium, which shaped the style of the built-up environment with exquisite high-end villas of La Belle Epoque scattered every here and there.
The richest families of Europe and the world’s top celebrities joined the European monarchs here. Being an uncontested lure for the rich, this place is considered the glitziest on the seaside.
Apartments and villas in Saint-Jean-Cap-Ferrat cost several millions of euros. A villa offering access to the sea may cost 15,000–25,000 euros per sq. metre. A five-bedroom villa of 250 m² in Cap Ferrat would cost 3,300,000 euro. A more affordable option to the peninsula is to be found in Beaulieu-sur-Mer or Villefranche-sur-Mer.
Antibes
It is a fashionable resort in the French Riviera situated between Cannes and Nice. Antibes or the ancient Antipolis has almost merged into one area with Juan-les-Pins, a popular coastal youth town. Antibes has preserved its historic look with medieval bastions, a fort, a castle, and chapels.
It is also the biggest yacht marina in the region lying in a 25-kilometre long waterfront setting that is one of the most picturesque coastlines in France. There are exquisite gardens and parks, clean sand beaches, refined restaurants, luxury boutiques, night clubs, and a casino in the town. A house here might cost approximately 7,700 euros per sq. metre, and an apartment would sell for 5,500 euros per sq. metre on average.
Cap d’Antibes
It is a cape near the same-name town and protrudes for four kilometres into the sea. This is an exclusive resort area with the best beaches in the Riviera and a point of attraction for celebrities from all over the world, dotted with villas of billionaires and luxury hotels. Vacation home prices in Cap d’Antibes are on par with those in Cap Ferrat and Monaco. A villa in Cap d’Antibes would cost from 15,000 euros per sq. metre.
Beaulieu-sur-Mer
It is an exquisite resort lying between Nice and Monaco near Cap Ferrat. Crowned heads, tycoons, and artists came to settle here in the early 20th century. This is the point where the mountains meet the sea, boasting of the best microclimate in the Riviera.
There is everything that creates the unparalleled spirit of Provence here — a big yacht marina, villas in the neoclassic style, luxurious hotels and restaurants, upscale boutiques, golden sand beaches, tropical gardens with century-old palm and olive trees, and reserved medieval churches.
A house in the “beautiful place near the sea”, as the name Beaulieu-sur-Mer reads in French, would cost on average 15,000 euros per sq. metre, whereas the price of an apartment would be 8,200 euros per sq. metre.
Villefranche-sur-Mer
It is one of the most beautiful resorts between Nice and Monaco, near Cap Ferrat and Beaulieu-sur-Mer. The foreign aristocracy favoured the town in the 19th century, and the royal and imperial families frequented it. Villefranche-sur-Mer used to serve as the stronghold of the Russian Imperial fleet and the US Sixth Fleet.
The bay of Villefranche is one of the deepest harbours in the entire Mediterranean, providing anchorage for the largest vessels, such as cruise liners and superyachts. The sandy beaches of Villefranche are more popular than the pebble ones of Nice.
The flamboyant multi-coloured houses in the Italian style and luxurious villas in Villefranche tier up the mountain along the bay. This scenic town was a setting for many movies, including Alfred Hitchcock’s ‘To Catch a Thief’ starring Carry Grant and Grace Kelly, the Bond film ‘Never Say Never Again’ with Sean Connery, and ‘Ronin’ with Robert De Niro. A villa in Villefranche-sur-Mer would cost on average 13,700 euros per sq. metre, and the price of an apartment would be 8,200 euros per sq. metre.
Nice
It is the capital of Côte d’Azur. This is an aristocratic town with French elegance and Italian vibes. Ancient Greeks named Nice after the Greek goddess of victory Nike. The English and French aristocracy loved to spend their vacations here in the 19th century.
The resort may impress by the churches and palaces of the 17th – 18th centuries in the Italian Baroque style. The coastal part of the city is built up with the exuberant eclectic homes dating back to the 19th – early 20th centuries.
Although the prices are rather high, housing in Nice and its suburbs is much cheaper than in the luxury resorts in the Riviera, such as Saint-Jean-Cap-Ferrat. Nice is also more affordable than Cannes: a two-bedroom apartment would cost 300,000 euro here.
An apartment in Nice would sell on average for 5,100 euros per sq. metre, and a house would cost 6,300 euros per sq. metre. However, the prices in the centre of Nice — Carré d'Or, the old bourgeois quarter Cimiez, the prestigious Mont Boron — may go up to 10,000–15,000 euros per sq. metre.
Cannes
It is one of the swankiest resorts in the Riviera, the capital of festivals, and a town favoured by the European aristocracy. Cannes lies in the very heart of Côte d'Azur halfway between Monaco and Saint-Tropez. The resort gained popularity with the English aristocracy in the 19th century. Guy de Maupassant wrote about Cannes in 1888, “Princes, princes, princes everywhere.”
The town became globally famous during World War II when it started hosting the Cannes Film Festival. Cannes is the venue of other major events, such as the Cannes Lions International Festival of Creativity, the Cannes Festival of Pyrotechnic Art, and the international retail real estate show MAPIC.
A house in Cannes would sell on average for 7,300 euros per sq. metre, and an apartment would cost around 5,900 euros per sq. metre. There is an attractive residential area La Banane in the centre of Cannes near the Promenade de la Croisette where the apartment prices go up to several tens of millions of euros.
Saint Tropez
It is a top resort for celebrities from all over the world. At the end of the 19th century, many artists enchanted by this location decided to settle here. The painter Paul Signac was the first to buy a villa and move to Saint-Tropez, followed by the artists Matisse, Bonnar, Marquet, and Derain.
In 1920–1930, the town attracted such stars of the global fashion world as Coco Chanel and Elsa Schiaparelli. The resort became world-famed in 1960 after the movie ‘And God Created Woman’ starring Brigitte Bardot was presented. The success was enhanced by a series of comedies about ‘Le gendarme de Saint-Tropez’ (‘The policeman from Saint-Tropez’) starring Louis de Funès and the movie ‘The Swimming Pool’ with Alain Delon and Romy Schneider.
The gorgeous promenade, refined restaurants, and trendy nightclubs, the world-famed beach Plage de Pampelonne, luxury yachts, and the regatta Giraglia Rolex Cup, the Porsche parade, haute couture, and the boutique of Brigitte Bardot — all these lure wealthy tourists from all over the world.
There are villas of famous actors, artists, bankers, and fashion designers in the vicinity of Saint-Tropez. One of the most fashionable resorts of Côte d’Azur offers homes at an average price of 18,000 euros per sq. metre. An apartment may cost 11,000 euros per sq. metre on average.
French Alps
Courchevel, Val d’Isère, Chamonix, Megève, and Méribel are the most popular ski areas in France. Évian, Thonon, and Yvoire, are the popular resorts on the French side of Lake Geneva. Experts say there are many nationals of emerging countries among buyers. However, they often opt for leasing a chalet or staying in a hotel rather than buying an apartment or a house.
Resort properties in the French Alps are often bought with a leaseback. A leaseback is an arrangement in which the purchased property is leased back to the developer. The owner gets fixed income, tax benefits, and the right to use the property several weeks a year.
Les Trois Vallées
It is the biggest ski area in the world that comprises eight ski village resorts that are totally different in spirit — the glitzy Courchevel and the family-friendly Les Menuires, the sports-loving Val Thorens and the serene Brides-les-Bains, the unobtrusive La Tania and the prestigious Méribel, the traditional Saint-Martin-de-Belleville and the new Orelle. All these villages are connected by an excellent 600-kilometre ski-trail and a common system of modern ski lifts.
Méribel
It lies in the heart of Les Trois Vallées. This key resort combines four major settlements and several small villages nestling at about 1,100–1,800 metres above the sea level. A ski pass for Méribel incorporates the linked ski trails of Courchevel, La Tania, Brides-les-Baines, Les Menuires, and Val Thorens.
The average buying price of a chalet in Méribel is 8,900 euros per sq. metre. A three-bedroom apartment in the Alpine style in the centre of the resort would cost about 680,000 euros.
Courchevel
It is the playground of billionaires. This Alpine village located at 1,850 metres above the sea level is famous for its luxury hotels and Michelin-starred restaurants. Property in Courchevel generates rental yields of about 5% per year. A chalet in Courchevel would cost about 11,500 euros per sq. metre.
Property prices in French Alps resorts are on the constant rise with the upscale real estate outpacing the broader market. Courchevel is deemed to be the most expensive ski resort in the world in terms of luxury real estate prices. High-end properties here cost 23,000 euros per sq. metre. Most chalet buyers in Courchevel are foreigners. International customers come mostly from Russia and Switzerland.
Val-d’Isère
It is one of the most popular resorts in the French Alps that has preserved the architectural style of an old Savoie village with siding of local stone, timber, and roof tiles. The slopes here go up to 3,650 offering a splendid view over Mont Blanc.
A chalet in this luxury resort may cost 15,900 euros per sq. metre. Val-d’Isère is slightly behind Courchevel, France, and Aspen, US, ranking the world’s top-three ski resort with the most expensive upscale real estate. Luxury homes cost about 20,260 euros per sq. metre here.
Chamonix
It is the oldest resort in the French Alps dating back over 200 years and the largest Alpine village with a population of over 10,000 people. The resort sits on the Swizz-Italian border at the foot of Mont Blanc. The vertical drop here is 1,035 – 3,842 metres. This resort hosted the first Winter Olympics in 1924. A chalet in Chamonix would cost on average 9,000 euros per sq. metre.
Megève
It is a traditional Alpine farmer community in the Haute-Savoie department, with just about 3,000 residents. However, the number of people here goes up to tens of thousands in the winter and summer. Megève is considered to be the first ski resort in the Alps conceived in 1920 as an alternative to the Swiss Sankt Moritz.
The ski season in Megève is one of the shortest lasting about 18 weeks. The average price of a chalet in Megève is 13,500 euros per sq. metre. Most of the buyers of housing in Megève are the French. Many foreign buyers dominated by the Europeans and Emiratis come from Geneve, which is one hour's drive from here.
Chalet prices in such popular resorts of the French Alps, as Chamonix and Megève, rose by 10% by June 2023 year-on-year as investors retain interest in Chamonix, Megève, and the resorts of Les Trois Vallées.
Aquitaine
Aquitaine or the French Switzerland is the region located in the south-western France running into the Atlantic coastline. This is the cleanest region in Western Europe, according to Eurostat. It is also less hot than Côte d'Azur. Aquitaine with the wine-producing capital Bordeaux and the prestigious resort Biarritz is of interest to investors.
The home prices along the Atlantic coast are rather attractive. 2 million euros may buy a castle in Aquitaine, whereas the same in Côte d'Azur is enough just for an ordinary villa.
Bordeaux
It is the capital of Aquitaine and a large and rich city famous for its well-established wine-making tradition dating back to the 13th century when Bordeaux became the main wine supplier of the English royal court.
The city proliferated thanks to wine trade and its advantageous geographical position with access to the sea. The historic centre of Bordeaux was built in the 18th century and is a UNESCO World Heritage Site. Victor Hugo wrote about the city, “Take Versailles, add Antwerp, and you have Bordeaux”.
An apartment in this wine capital would cost about 4,700 euros per sq. metre, and a house would sell for 5,500 euros per sq. metre. The average real estate prices in Pessac, a suburb of Bordeaux, rose by almost 15% over a year reaching 3,600 euros per sq. metre, according to Baromètre LPI-SeLoger. This is the most dramatic price increase among the suburbs of France.
Biarritz
It is a stylish resort on the Bay of Biscay along the Atlantic Coast that used to be a vacation spot favoured by the European nobility. Biarritz is not so glitzy as the Riviera and draws both the wealthy and regular surfers. People speak here French, Spanish, and Basque.
Biarritz used to be popular at the beginning of the 20th century with the foreign aristocracy and was frequented by people of art. An apartment in Biarritz would sell on average for 8,300 euros per sq. metre, and a house would cost 9,300 euros per sq. metre on average.
Provence
Housing prices in rural areas have plummeted after the global financial crisis of 2008 and have yet to bounce back. A spacious house in the French countryside would sell for some 300,000 euro, whereas a 70-square-metre apartment in Parisian suburbs would cost almost twice as much ― about 550,000 euros per sq. metre.
The highest prices exceeding an average of 233,000 euros per sq. metre were quoted near the Paris region, in Alsace, Haute-Savoie, the Mediterranean and Atlantic coasts, and near the cities of Lyon, Toulon, Nantes, Reims, and Bordeaux.
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