巴黎住宅市场洞察2025

PARIS RESIDENTIAL MARKET INSIGHT2EiffelTowerInternationalSchool ofParisLouvreMontmartreSaint DenisEurostarCharles deGaulle Airport6th Arr.7th Arr.16th Arr.8th Arr.RIVERSEINEResilience amid uncertaintyParis’s prime residential marketcontinues to demonstrate resiliencedespite a barrage of headwinds.Over the past six years, the city hasendured a global pandemic, politicalinstability with six prime ministersholding office, rising fiscal concerns, aglobal trade war and played host to the2024 Olympics. Against this backdrop,Paris has not only held firm, but it hasalso broadened its appeal, attractinga more diverse buyer base, bolstered,until recently, by a weak euro.Why Paris?Source: Knight Frank ResearchPRICES HOLD, VOLUMES DECLINESince the start of the pandemic, averageprime property prices have risen 12%,climbing from €20,370 to €22,730 persquare metre. Yet sales volumes havesoftened. In the second half of 2024,Paris’s Chamber of Notaires reportsthat just 12,220 properties changedhands – fewer than during the firsthalf of 2020, when pandemic-relatedrestrictions largely froze the market.This dynamic reflects a buyer’s market,though primarily within the resaleapartment sector.STRENGTH IN PREMIUM SEGMENTSIn contrast, developers and vendorsstill hold the advantage in key luxurysegments: new builds, pied-à-terres,and hôtel particuliers.In the new homes sector, a shortageof new stock continues to push priceshigher, with fewer than 2,000 newhomes completed annually in Paris inrecent years.Pied-à-terres remain in highdemand. The average price for suchproperties sold by Knight Frank’spartners in Paris, Junot Fine Properties,reached €7.6 million in 2024. Withan average size of 235 square metres,and an average price of €33,833 perAccessibilitysquare metre, half of these sales were toChinese buyers.Hôtel particuliers, Paris’s grandmansions, remain rare. Only six soldin 2024, with one fetching nearly€50,000 per square metre and another,AT A GLANCECulture & HistoryHigh quality of lifeExcellent internationalschoolsTransparent and matureproperty marketLack of new buildsupports pricingLarge expatcommunityExpanding living sectors(student, senior, BTR)51,254The number of individuals in France withUS$10 million+ in 2024Prime prices up12% since start ofthe pandemicNew-build, hôtelparticuliers and pied-à-terres in demandThe Left Banksees heightenedinternational interest PARIS RESIDENTIAL MARKET INSIGHTselling for €33 million. Since thepandemic, wealthy French buyers haverenewed interest in these spaciousproperties with outdoor areas. In2025 two big ticket hôtel particuliershave already been sold in the 7tharrondissement, one for €55 millionand the other for €100 million.GLOBAL WEALTH IN MOTIONSeven eurozone interest rate cuts – andmore expected – are creating renewedmomentum. As global uncertaintyrises and wealth becomes more mobile,Paris is emerging as a stable, knownmarket for investors. Political changeselsewhere are also fuelling demand:the return of President Trump to theWhite House, the UK’s scrapping of itsnon-dom regime, and Italy’s doublingof its flat tax are driving enquiries.In Knight Frank’s 2024 EuropeanLifestyle Report, a survey of 750high-net-worth individuals across 28nationalities ranked Paris as the topEuropean city for relocation. Gen Z,Millennials, Gen X, and the Post-Wargeneration all ranked Paris as theirpreferred European city destination.Domestic demand in Paris remainssubdued. Many French buyers remainlocked into low-rate mortgages andare hesitant to sell. But with borrowingcosts now falling sharply, early signs ofrenewed local activity are emerging.46%The premium paid for a property with aview of a Parisian landmark in 2024Need to Know•Notary Fees:Increased by 0.5%in April 2025, raising total purchasecosts to c.8%.•Short-term Rentals:Primaryresidences can now only be rentedfor 90 days annually (down from 120).Second homes require commercialzoning to be rented legally.•Energy Efficiency Rules:FromJanuary 2025, rentals of G-ratedhomes are prohibited acrossFrance. F-rated properties will followin 2028, and E-rated by 2034. © Knight Frank LLP 2025. This document has been provided for general information only and must not be relied upon in any way. Although high standards have been used in thepreparation of the information, analysis, views and projections presented in this document, Knight Frank LLP does not owe a duty of care to any person in respect of the contentsof this document, and does not accept any responsibility or liability whatsoever for any loss or damage resultant from any use of, reliance on or reference to the contents of thisdocument. The content of this document does not necessarily represent the views of Knight Frank LLP in relation to any particular properties or projects. This document must notbe amended in any way, whether to change its content, to remove this notice or any Knight Frank LLP insignia, or otherwise. Reproduction of this document in whole or in part is notpermitted without