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Real Estate Dyman: La Crème de La Crème of Paris

Paris's Sixth Arrondissement, in the heart of the city's Left Bank, has been the stomping ground of Europe's intellectual and artistic elite for most of the past 100 years. Gertrude Stein, Ernest Hemingway, Jean-Luc Godard and Jean-Paul Sartre all lived there. Now, drawn to the area's 18th-century architecture and 21st-century amenities, a new kind of elite led by wealthy Americans and Europeans has helped give the Sixth the highest median prices for residential real estate in Paris.

The current average price for an apartment in the Sixth is $1,589 per square foot, according to figures released in late November by the Chambre des Notaires de Paris, the city's organization of notaries who supervise all real-estate transactions. That is more than $93 per square foot above prices in second-place Seventh Arrondissement, long associated with France's titled families, and ahead of the Fourth, which includes the most desirable areas of Le Marais, home to even older buildings than in the Sixth and transformed by gentrification over the past several years.

That price is also $443 per square foot higher than in the Right Bank's 16th Arrondissement, which boasts a high proportion of luxury buildings from the Belle Époque and Art Deco periods.

dyman La Crème de La Crème of Paris real estate

On February 05 2014 at Francos, Porto, Portugal 13 Views


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