If you dream of buying a property in Paris with the Eiffel Tower at your doorstep, you’re not alone.
The world over, Paris is synonymous with Gustave Eiffel’s iconic iron monument on the Champ de Mars. Or the imposing Arc de Triomphe in the center of the Place Charles de Gaulle.
If you’re thinking that buying an apartment in Paris close to the Eiffel Tower will be the most expensive, there is good news. In fact any landmark building adds a premium to the property price.
We’ll tell you the kind of prices you can expect to pay when buying a property in Paris close to one of its most famous monuments.
Buying property in Paris near a monument
French news site ‘journaldunet’ has published a ranking of the most expensive areas in which to buy property in Paris within 500 meters of an important monument. Prices indicated are for the fourth quarter of 2016.
Number 1: Musée d’Orsay – expect to pay here €14,147/m2
The Musée d’Orsay is the 5th most visited monument in Paris. Real estate in this neighborhood costs 69% more than the average per square meter price in Paris.
Prime properties can command higher prices. This renovated property on a high floor in a beautiful Haussmannian building is currently on the market for €15,329/m².
Number 2: Chapelle Notre-Dame de la Médaille Miraculeuse – expect to pay here €13,114/m2
This extraordinary and beautiful chapel is a place of pilgrimage in St-Germain. It’s tucked away at the end of a courtyard across from Le Bon Marché department store. It’s the 8th most visited monument. This is an in-demand neighborhood. Real estate prices here are 57% higher than the average per square meter price in Paris.
Number 3: Notre Dame – expect to pay here €12,558/m2
Notre Dame is the number one most visited monument in Paris. It’s one of the most impressive examples of French gothic architecture. Real estate in this Paris neighbourhood costs 50% more than the average square meter price for the capital.
Number 4: The Eiffel Tower – expect to pay here €12,350 m2
Could you visualize Paris without it? The 320-meter Eiffel Tower is the 4th most visited Paris monument. Buying property in Paris close to it will cost you 48% more than the average per square meter price in the French metropolis.
The price also goes up quickly for a view of the tower. For example, if the Eiffel Tower view from your living room includes two thirds of it, that adds about 25% to the basic value of the property.
Number 5: The Louvre Museum – expect to pay here €11,256/m2
Few art galleries are as impressive as the Musée du Louvre, Paris’ pièce de résistance and its 3rd most visited monument. It’s one of the world’s largest and most fascinating museums. Interested in buying an apartment close to the Louvre? It will cost you 35% more than the average square meter price.
A romantic notion
Many people set out dreaming of buying a property in Paris close to the Eiffel Tower or Notre Dame cathedral. But reality check. The nearer you are to these monumental beauties, the more visitors, tourists and traffic you’ll often encounter.
In our opinion, being near the Eiffel Tower is a wonderful and by no means impossible aspiration. But it’s the overall qualities of the Paris neighborhood you choose that should guide you when buying a property in Paris.
The wonderful thing about Paris is that every arrondissement (district) and every quartier (quarter) is different. Each has its unique character and advantages such as links to local transport, schools and green space. If you’re looking to buy an apartment in Paris, you can aim for proximity to your favorite monument. But buy in the best area for you.
For more advice about buying Paris real estate, please contact us.