AMERICAN ENTHUSIASM

Paris has always had a special place in the hearts of Americans who are making a big comeback to the capital. They are benefiting from an appealing context with a highly favourable exchange rate between the dollar and euro, and low mortgage rates. Overview with Nicolas Pettex-Muffat, General Manager of the group Féau et Belles Demeures de France.

The City of Light is seeing an exponential rise in its popularity among American buyers, keener than ever to makes their dreams of Paris come true. “Since 2022, foreigners have again been active on the market, Americans in particular : the euro-dollar exchange rate and the most advantageous borrowing conditions in Europe have made the current context especially favourable,” explains Nicolas Pettex-Muffat.

“In parallel, the “Emily in Paris” series has proven to be a gigantic promotional campaign for Paris, glamorising the city’s image, now even more attractive than it was before. Affluent Americans continue to target luxury properties in prized neighbourhoods such as the Left Bank and Golden Triangle, which has always been the case. What has changed is the new category of buyers, younger, drawn by very Parisian neighbourhoods, and apartments of real charm.

Nicolas Pettex-Muffat joined the Daniel Féau agency in 2006 as Marketing Director. Two years later, he was appointed General Manager of the group. Daniel Féau, 21 rue d’Artois, Paris 8 (01 84 79 86 15). www.danielfeau.com

In the 7th arrondissement, giving directly onto Le Champ-de-Mars, this sublime split-level apartment, renovated throughout by a renowned architect, offers a spectacular view of the Eiffel Tower. On two floors linked by a magnificent staircase, its living space of 300 m2 is comprised of a vast reception/living-room, a dining-room, TV lounge, a kitchen with breakfast area, a study, and 4 bedrooms including a master suite. Possibility of a parking place close by. Plus de 9 M €.

Nestling in quietness at the end of a private drive in Neuilly, this outstanding property stands in grounds of 1,370 m2. Perfectly renovated, its living space of 1,294 m2 on three floors reached by elevator, plus a basement, is comprised of vast reception rooms, 4 en-suite bedrooms, an indoor pool, two gyms... A guest-house of 150 m2, a caretaker’s apartment and a 6-car garage complete the property. 32 M €.

On Rue Guynemer, on the top floor of a very handsome Haussmann building with a concierge and lift, this fully refurbished apartment of 52 m2 offers a living-room giving onto two balconies with magnificent views of the Luxembourg Gardens, an open kitchen and a bedroom. Cellar. 1.650.000 €.

If there is a pretty square, a café, a florist or - the cherry on the cake -, a wine cellar and cheese-maker, and even if the apartment is in a building without a lift and has no air conditioning, they are completely won over. What they want is to live in Paris, but like a Parisian, not a wealthy tourist ! We recently sold a 1-bedroom apartment of 60 m2 to an American, in usable condition, on Rue Lévis in the 17th arrondissement, for over 17,000€ per sq.m.

We are also seeing many Americans giving the Parisian adventure a try while renting an apartment for a year : teleworking from Denver, Austin or Paris..., it’s pretty much the same when your company is in New York ; we will know in a few months whether the transplant has worked or not !” In spite of a tense international context, it thus seems that the Parisian property market is holding its own ? “Yes, it is a market that is doing well, with pre- and post-Covid figures attesting to the fact. For Paris intra-muros, Féau saw prices rise from 16,800 to 17,250 € per sq.m in 2022. And for large apartments with terraces or gardens, the average price per sq. metre is 23,381 €. The rarity factor weighs heavily on prices and the luxury segment is booming. In our agencies, since the end of 2022, 40% of properties worth over 3 million euros involve a foreign buyer. The French are also very active when it comes to this type of acquisition, even though financing conditions have become tougher.”