With its ornate 19th century buildings, wide avenues, vast parks and diverse museums, from Paris The 16th arrondissement has long been home to the crème de la crème of French high society.
Located just across the Seine from the Eiffel Tower, it offers stunning views of Paris’ most famous landmark and contains many of the city’s most famous cultural sites within its vast boundaries, which stretch from the Arc du Triomphe in the Bois de Boulogne, a vast public garden more than twice the size of Central Park.
Paris’ answer to New York’s majestic Upper East Side or London’s exclusive Kensington, the borough is steeped in peaceful charm and is famous for its historic Haussmann architectural style, named after Baron Georges-Eugène Haussmann, Prefect of the Seine in the middle of the 19th century. . Under his reign, Paris acquired its 20 arrondissements, its long straight boulevards and its beautiful town houses, each carved from massive blocks of stone, not exceeding five stories and characterized by elegant wrought iron balconies, high ceilings and large windows.
“If you’re looking for quintessential Parisian architecture, streets perfectly frozen in time, Art Nouveau, private villas and a view of the Eiffel Tower, this is the place to be,” said Alexis Caquet, managing director of Engel & Völkers Market. Center Paris. “Haussmann buildings are in the majority in this district… You will see a touch of Art Deco, a lot of Art Nouveau and truly remarkable and successful atypical buildings.
The 16th arrondissement is bounded to the north by the Arc de Triomphe and the northern edge of the Bois de Boulogne, to the east by the Seine, to the south by the southern edge of the Bois de Boulogne and to the west by the river La Seine , which goes around the whole borough, enclosing it on three sides.
Apartment prices vary a lot from street to street and even floor to floor. “In the same building, depending on whether the property is on the first floor or on the top floor, the price will be completely different”, specifies Valérie Selignan, manager of Daniel Féau Christie’s International Real Estate Paris XVI Victor Hugo. “Depending on whether the property is on the sunny side of the building or the shady side of the building, it will cost a different price… If there is a good view of the local landmarks, that immediately increases the price enormously, as does a roof terrace. “
Prices start between 10,500 and 11,000 euros ($11,048 to $11,574) per square meter for outdated apartments in the borough’s less fashionable areas, Ms. Selignan said. For an apartment in good condition, with a view, this figure doubles, “and the most expensive properties in the area at the moment amount to €42,000 per square meter. It’s for one [penthouse] apartment with a view of the Eiffel Tower, decorated by a very famous designer and sold with all the furniture.”
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For a beautiful renovated apartment with luxury fittings and a beautiful view, in one of the most sought-after postcodes, prices often do not exceed €24,000 per square meter. Houses, meanwhile, are very scarce, “which drives up the price,” she said.
Mr. Caquet said the prices are difficult to generalize. “The main criteria that influence the sale price are of course the address, the size, the floor – a top floor is more expensive – or the condition of the property” but “top-of-the-range properties remain apartments or hotels individuals [the city’s grand townhomes] with… a view of the Parisian monuments,” he says.
“The Villa Montmorency has the highest average price per square meter, thanks to its sublime houses with private gardens than the CAC 40 [a benchmark French stock market index] investors are snapping up, so it’s no surprise that the price per square meter in this area is close to €18,000,” he said. Avenue d’Iéna and Place de l’Alma are in second place and prices around Avenue Victor Hugo and Rue de Passy are slightly lower, he added.
“It’s a district that has a very beautiful architecture, characterized by very spacious apartments,” said Ms. Selignan. Affluent buyers covet historic Haussmann properties, “which are characterized by high ceilings, marble fireplaces and beautiful parquet floors,” she said.
The neighborhood is the largest in the city and the only one to be split into a north and south postcode. “The most fashionable streets in the north are Avenue Foch, Avenue Georges Mandel and Avenue Henri-Martin,” she said. “The north is known to be a bit more chic than the south but currently families tend to prefer the south, the area known as Village d’Auteuil, which has a very good reputation.”
The most sought-after properties are the spacious historic townhouses, or mansions, located on private roads known as villas, which offer security, privacy and plenty of green space. But most of the luxury properties available in the 16th arrondissement are large apartments with high-end amenities, such as smart tech, indoor spas, personal gyms and private cinemas, Caquet said.
What makes it unique
The 16th arrondissement is steeped in history and culture and is home to the Musée d’Art Moderne de la Ville de Paris, the charming Marmottan Monet Museum, the Palais de Tokyo, the Le Corbusier Foundation, the Louis Vuitton Foundation, the Palais Galliera, dedicated to fashion, and the Wine Museum, among many others.
“The district includes the famous Arc de Triomphe as well as the Trocadéro esplanade where tourists come from all over the world to admire the most beautiful view of the Eiffel Tower,” Mr. Caquet said. It is also a hub for spectator sports, containing the Parc des Princes, the stadium of football club Paris Saint-Germain, and the Roland Garros stadium, where the Roland-Garros tennis championships are held.
“Another of its main assets is its proximity to the Bois de Boulogne: 1840 hectares of nature between forest, paths and small lakes”, specifies Mr. Caquet. “It is also the district with the most embassies and consulates.”
Located near the Boulevard Périphérique, the main ring road that connects Paris, and not far from the outskirts of the city, it offers easy access both inside and outside the capital. “It’s easy to get out of Paris, to get to the airport or to go to the countryside, so it’s very convenient,” Ms Selignan said.
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“The 16th arrondissement is very popular with families looking for a good school district to be close to prestigious establishments such as the Gerson School and the Janson de Sailly College and High School… Jean-Baptiste Say College High School and Saint-Louis de Gonzague High School », says Mr. Caquet. It is also home to the prestigious International School of Paris, the Bilingual Montessori School, the Kingsworth International School and the Canadian Bilingual School of Paris.
The district is also a mecca for gastronomy. It contains 10 Michelin-starred restaurants, including the Alan Geaam restaurant, the famous Nomicos and La Grande Cascade – Frédéric Robert, located in the middle of the picturesque Bois de Boulogne.
Mr. Caquet recommended the Ducasse-sur-Seine, located “on a barge moored in front of the Eiffel Tower at the foot of the Trocadero with a silent boat that allows navigation on both sides of the Seine”, as well as Monsieur Bleu at the Palais de Tokyo .
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Who lives here
“There are a lot of Parisians because it’s a very pleasant arrondissement to live in,” said Ms. Selignan. “We also have a lot of Parisian families because there are a lot of excellent schools… And at the moment we also have a lot of international buyers, especially from the Middle East.”
Mr Caquet said the 16th arrondissement is “also very popular with diplomats and foreign buyers looking for an exceptional pied-à-terre”.
Historically one of the wealthiest and most prestigious areas of the city, the 16th arrondissement was once home to famous figures such as writers Marcel Proust and Honoré de Balzac.
Current notable residents include billionaire businessman Vincent Bolloré, Canadian singers Mylène Farmer and Celine Dion, American singer and actor Lenny Kravitz, French actress and model Carole Bouquet, and Italian-French singer and model Carla Bruni , said Mr. Caquet.
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Prices are stabilizing after a boom in the first year of the pandemic. “We had a lot of work in 2020. During the two big months of confinement, we did as much business as during the whole previous year because people who had money in the bank wanted to invest in real estate” , said Ms. Selignan. The rise in sales continued in 2021, she added.
“Now interest rates are going up a bit, but I don’t expect that to have much impact, especially in the luxury market, because people looking for luxury properties are usually cash buyers,” she said. “For families and young people looking for smaller apartments, this could have more impact, but at the moment prices are very stable. The market remains strong.
Properties that don’t have “a ‘little extra’ to stand out”, such as a large balcony or a parking space, are currently experiencing a slight price drop, according to Mr. Caquet. “However, the international clientele is now back and interested in Paris… The demand is there and prices have remained at a high level and should stabilize in 2022.”
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