Private mansions in Paris
Topping the list of outstanding properties, private mansions between courtyards and gardens are coveted as both noble and rare. These highly-rated properties comprise a niche market which starts at several million euros and can attain staggering prices only within the reach of ultra-welathy buyers, either French or foreign.
A niche market with few offerings and rare sales, private mansions form part of an array of exceptional properties which are again drawing buyers, as explained by Valentine Bozic of La Galerie de l’Immobilier : "The Parisian property market has gotten its breath back with the return of wealthy clients who left in exile under the last 5-year presidency. The number of sales between January and March 2017 was 70% higher compared to the same period in 2016. Backed by high purchasing power and reassured by France's new political climate, both French and foreign buyers are again setting their sights on outstanding properties such as private mansions. These noble residences built in the 17th and 18th centuries are extremely rare, amounting to about 300 in Paris. The 7th is the most favoured arrondissement for this type of property : it boasts 76 examples, with the 4th arrondissement a close runner-up, with 61 mansions, then the 6th with only 37. Social evolution has seen a change in the meaning of "private mansion", which now also applies to master residences. The prices of these extraordinary buildings vary depending on the year of construction, their location, structure and of course, their overall condition. The property we are currently offering for sale at 31,500,000 euros has been treated to exceptional renovation : four years' work entrusted to the architects of Les Bâtiments de France were required to restore their splendour to these two 18th and 19th-century buildings".
Developments on France's political scene have had a positive impact on the property market, bringing back French buyers, in particular, to the front of the stage. According to Anne-Sophie Cantaloube of Féau Commercialisation : "This new political impetus has restored vitality to the country and especially to Paris, which can claim a growing number of fans drawn by its art of living and beautiful architecture. Over the past few months, we have noticed in our agencies the return of wealthy French clients, particularly those living in London, who are again looking for permanent homes in Paris. We recently sold a very handsome private mansion of 2,000 m2 in need of renovation to a French family : built around a court of honour and located on the Place des Vosges, it was priced at over 30 million euros. On the international scene, clients from the Middle and Far East with a fondness for the luxury of Parisian stone still comprise the core of these transactions involving several million euros. The most coveted mansions are to be found in the most appealing arrondissements in Paris such as the 4th, 6th, 7th, 8th, and the northern part of the 16th. We have about ten such properties in our portfolio, ranging from 8 to 43 million euros. These are exceptional properties, sales are rare, it is a very tenuous market".
