Average price of residential real estate in Paris, France 2024, by arrondissement
The sixth arrondissement of Paris was the area with the highest residential real estate price in the French capital as of January 2024. In this arrondissement, which includes several historical sites like Saint-Germain-des-Prés, the Académie Française and the Jardin du Luxembourg, the average price per square meter amounted to over 15,000 euros. Paris is known for being one of the most expensive European cities to rent an apartment.
The price difference in the twenty arrondissements of Paris
The French capital is divided into twenty arrondissements, which correspond to administrative districts. Because of their geographical situations in regards with the economic centers of the city of Paris, as well as their environments and the living conditions they offer, arrondissements do not have the same average price per square meter. For example, the average square meter price for an apartment in cosmopolitan districts like the 19th and the 20th arrondissements, located in the northeastern part of the city, amounted to a little bit more than 8,800 euros, compared to close to 13,000 euros in Le Marais (4th arrondissement). Paris was by far the most expensive city in France, regardless of the localization of the accommodation. In 2023, the average price per square meter for rental flats reached 31 euros in Paris and 16 euros in Marseille, France’s second-largest city.
The rise in rental prices in European cities
It appears cities in Europe have seen their rental prices increasing in the past years. In Germany, for instance, if Berlin used to be described as “poor but sexy” (to quote Berlin’s former mayor Klaus Wowereit), it appears that the German capital is not unaffected by the rise in rents. From 2016 to 2022, the average rent price of residential property in Berlin went from 8.9 euros per square meter, up to 12.8 euros five years later.
