A new study shows that the closer a property is to a good public French lycée (high school), the higher the price will be.
The effect of a prestigious high school is especially marked in Paris. The price differential can rise to 15% or more for properties within a 300 meter radius of the establishment, depending on the neighborhood and the school.
In the public education sector in France, students are allocated to the school nearest to their home, so parents have an interest in buying close to a high school with a good reputation. This in turn influences real estate prices.
High schools are graded according to their performance in the baccalauréat, the public exam that students take in their final year. Seventeen of the top 50 high schools in France are located in Paris and 12 Paris schools are in the top 20.
Two high schools in the 5th arrondissement (district) take joint second place in the ranking and command the highest average prices: the Lycée Louis-le-Grand (average price €12,094/m2) and the Lycée Henri IV (average price €12,041/m2). Official figures collated by the notaires, officials who handle property transactions, show a median price of around €10,400/m2 in the 5th.
It is, of course, common to pay much more than this for an upscale apartment in the 5th. But the prices quoted are averages across all types of property.
Price differentials are less in other neighborhoods but can still make a significant difference to the price of a property. The top-ranked bilingual Lycée Jeannine Manuel in the 15th arrondissement, which teaches in English and French, commands a price of €8677/m2 in the vicinity. The notaires’ median price for the 15th is €8,500/m2.
Image © Edhral