The golden triangle (between the Champs Elysees and the Seine) is the most elite area of Paris and is a a big draw for foreign and local investors who are hoping tolive in the 8th arrondissement of Paris. On account of its exclusive character, with flagship designer stores such as Dior, Prada, Chanel and Givenchy, as well as luxury hotels like the Plaza Athenee and George V, real estate here is highly sought-after – and priced. The Champs Elysees, overlooked by the Arch de Triomphe, is a hive of business and tourism with its offices, cafes, bars and galleries of boutiques and is host to many national events and celebrations.
To the north is one of Paris’ most ornate parks, Parc Monceau. The area is residential and calm, and is desirable area for families wishing to live in the 8th arrondissement of Paris, becoming more ‘ populaire’ and diverse eastwards around Gare St Lazare with its Parisian department stores and busy railway station.
Looking to invest in Paris 8th arrondissement ?
Apartments vary considerably depending on the area, with the most prestigious neighbourhoods situated in and around the triangle d’ or, making it the most sought-after area to buy an apartment in the 8th arrondissement of Paris.
The Champs Elysees area offers various styles of apartments but traffic, tourism and narrow streets in this elite business area can be overwhelming and a nightmare during national events. The area around Parc Monceau, with its tree-lined avenues, is calmer and more residential, making it the area of choice for families looking to buy an apartment in the 8th arrondissement of Paris.
Apartments are larger, mainly Haussmann in style, and slightly less expensive than the southern areas. There are some prestigious apartment buildings around Europe and Madeleine but it is quite a noisy business and shopping area that becomes rather bland and residential after hours.
The mean price per m2 in the 8th arrondissement is around 10 314€*, with price ranges again varying greatly per area. The most expensive street being Avenue Montaigne (18 189€) and the least expensive, Rue de Vienne (7 516€)*. The Chambre de Notaires de Paris advises that real estate prices here have declined by -5.3% in the first quarter of 2016, but rose overall by +2.1% in the past year. For those with an interest to buy an apartment in the 8th arrondissement of Paris, this recent decline has made it easier to purchase a larger apartment in a sought-after area.