An effect of increased Paris property prices near monuments has been highlighted in a new report.
We take a look at the results, which sees the French capital at the top, ahead of London, New York, Beijing, and all other global markets.
Number one of all the famous landmarks
This new survey examines real estate prices around 11 famous landmarks, in the world’s top city locations. The results reveal which monuments, and therefore which cities, attract the highest price tag.
Of all the monuments, the Eiffel Tower has the greatest impact on surrounding real estate.
This places Paris in first place, with the average price for an apartment near the Eiffel Tower valued at $668,583. That’s 562,146€ based on current exchange rates.
This is sure to be great news for professional property investors, or any owner of an apartment in Paris keeping an eye on their investment.
Other factors play their part of course. For instance, better properties cost a lot more, while a view of the landmark itself increases the price even more substantially!
Reasons for higher Paris property prices near monuments
Paris could be leading the way for several reasons.
While it is difficult to ascertain which global monument is more famous, the Eiffel Tower is, without a doubt, one of the world’s most recognizable buildings.
It doesn’t just represent Paris, but the whole nation of France. The tower is so iconic, there are several copies around the world.
But of course, there is just one authentic tower, here in our capital.
There are also the special considerations of Paris real estate: a low inventory of almost exclusively-period properties, and high demand from buyers. It’s a unique market.
The results around the world
With Paris on top, how do the other cities compare?
Second place on the report is the real estate surrounding the Statue of Liberty in New York. While there is a lack of available properties in this area, the average price for an apartment is $667,197 (550,188€).
London is third, concentrating on the properties around Big Ben. In this part of the UK capital, an apartment averages $648,233 (550,188€).
Finally, the report details the residential properties surrounding the Sydney Opera House and Colosseum in Rome, which average $459,027 (378,526€) and $349,798 (288,453€) respectively.
These five are the most influential real estate landmarks around the world.
Current real estate listings
We have a number of properties in our portfolio showing the positive effect of Paris property prices near monuments.
One is the chance to own a house, not an apartment, in the center of the capital. This Ile Saint-Louis property overlooking the Seine is the only freestanding house on the island.
Notre Dame Cathedral, one of the most iconic sights in Paris is close by, on the neighboring Ile de la Cité.
Also, we have this quiet three-bedroom Montmartre duplex in the charming Lamarck-Caulaincourt area. Its position provides open views over the city’s rooftops.
This apartment is nearby to the Sacré Coeur, another important and recognizable symbol of Paris, perched on the top of the butte Montmartre.
Here to assist with all your real estate queries
The team at 56Paris is continuing to work with our clients, despite the current challenges.
Whether you are looking to buy, sell or rent in Paris, please do get in touch with the team to see how we can assist you. All advice is freely given with no obligation.