Finding a family flat in Paris can prove complicated. Large family flats (from 80 m2 to 110 m2) are very scarce in some districts, which can make your search difficult. The price of 3 and 4-room flats is also very high, which doesn’t make things any easier for purchasers who need to be quick off the mark and present a solid record for property transactions often in excess of one million Euro.
Family flats in Paris: an update on price
In Paris, the larger or smaller the flat, the higher the average price per square metre. Although studio flats in Paris sell for above-average prices, the same is also true of family flats with 3 to 5 rooms or more.
The average price per square metre, observed by the Notaires du Grand Paris, is based on the 4th quarter of 2020: 11,080 Euro for a studio, 10,630 Euro for a 2-room flat, 10,770 Euro for a 3-room flat, 11,210 Euro for a 4-room flat and 11,260 Euro for a 5+ room flat, compared to the average price of 10,730 Euro/m2 in Paris. Average prices vary depending on the district.
The U-shape price curve can be explained by the “cost of kitchens and bathrooms, relative to the rest of the surface area, which is very high for studios, then dips somewhat but rises again for larger properties which often have a further bathroom, especially high-end properties,” according to the Notaires who also reveal in focus immobilier, published in March 2021, that the average price of flats with 5 or more rooms is slightly down while the price of 3-room flats is on the up. This trend is linked to the health pandemic, with the slowdown of high-end sales to foreign buyers and the wait-and-see approach adopted by certain vendors and purchasers.
However, classic Parisian stone buildings, artists’ workshops, lofts, penthouses with panoramic views, town houses etc. continue to attract. When looking for a property, particularly a family flat with one or more bedrooms, purchasers can engage the services of high-end real estate agents from Engel&Völkers who will be attentive to their needs.
Buying a family flat in Paris: the importance of defining your criteria
When buying a flat in Paris, you need to be able to react quickly. However, clearly defining essential criteria will help you save time searching. What are the most important elements: the number of square metres? Some outdoor space? A top floor? The location? All these questions will help you better target your property. Sometimes buyers may need to make concessions, depending on their budget; for example, they may have to consider a flat that needs renovating or refurbishment or opt for a ground floor or garden flat which may be slightly cheaper or larger than an upper floor family flat.
Buying a family flat: which district to focus on?
Most family flats are generally located in Paris’ 16th district. The 15th and 17th districts also have properties of this type.
Elsewhere, for example in the very centre, family flats are harder to come by and more expensive. However, you can also find family flats for sale in other districts, sometimes on a busy road or even a quiet road, in a beautiful, dressed-stone building, near prestigious universities.
By researching the property market, seeking the advice of experts, and targeting the right properties, you can be confident of discovering the best real estate opportunities that match your requirements.