{"id":4483,"date":"2020-06-05T15:59:54","date_gmt":"2020-06-05T06:59:54","guid":{"rendered":"https:\/\/wealth-park.com\/?post_type=wealthpark&p=4483"},"modified":"2022-08-03T15:37:36","modified_gmt":"2022-08-03T06:37:36","slug":"20200604_parisian-real-estates","status":"publish","type":"wealthpark","link":"https:\/\/wealth-park.com\/en\/wealthpark-blog\/20200604_parisian-real-estates\/","title":{"rendered":"Parisian Real Estates \u2013 A View from Terraces and Balconies"},"content":{"rendered":"

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Recently, we shared insights pertaining to the impacts of coronavirus on the secondhand real estate market in Japan. Today, we will transport you to the beautiful terraces of Paris to provide you, our readers, with a view on the Parisian real estate market.<\/p>\n

According to pricing assessments of 32,000 home sales conducted by Pricehubble AG, one of the largest real estate databases and provide of data visualization service in the industry, we saw 21% of all Parisian districts have terraces and balconies.<\/p>\n

Of the 20 arrondissements, the following cantons are on either end of the spectrum: 15th<\/sup>\u00a0(31%), 16TH<\/sup>\u00a0(28%); and 2nd<\/sup>\u00a0(7%), 3rd<\/sup>\u00a0(8%), 4th<\/sup>\u00a0(9%). The 15th<\/sup>\u00a0and 16th<\/sup>\u00a0arrondissements are located in the fringe of the capital of France, the 2nd<\/sup>\u00a0is located near the Avenue de l’Op\u00e9ra, the 3rd<\/sup>\u00a0is famous for Le Marais (Mus\u00e9e national Picasso-Paris and Place des Vosges), and the 4th<\/sup>\u00a0arrondissement is known for: \u00cele de la Cit\u00e9 (Notre Dame de Paris and Centre Georges-Pompidou).<\/p>\n

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Generally, there is a great disparity between sizes of balconies and terraces with some taking only 2% of the properties\u2019 area to being over 50 m2<\/sup>\u00a0in size. Parisian balconies and terraces are generally petite in size with 64% being smaller than 9 m2<\/sup>\u00a0and 27% smaller than 5m2<\/sup>.<\/p>\n

Looking at the size of terraces and balconies in each arrondissement, we found the 8th<\/sup>\u00a0arrondissement of Paris (famous for the Champs-\u00c9lys\u00e9es) averages 10m2<\/sup>. The 1st<\/sup>, 4th<\/sup>, 14th<\/sup>, 15th<\/sup>, and 16th<\/sup>\u00a0arrondissement averages 8m2<\/sup>\u00a0while the 5th<\/sup>\u00a0and 6th<\/sup>\u00a0arrondissement (Saint-Germain-des-Pr\u00e9s, Jardin du Luxembourg) average only 5m2<\/sup>.<\/p>\n

Comparing the prices of 5 m2<\/sup>\u00a0balconies and terraces, the most expensive region is: the 6th<\/sup>\u00a0arrondissement at \u20ac8400. The 1st<\/sup>\u00a0(Mus\u00e9e du Louvre) and 7th<\/sup>\u00a0(Eiffel Tower) exceed \u20ac7000. In contrast, the cheapest is the 19th<\/sup>\u00a0arrondissements (\u20ac4000) and the 13th<\/sup>.<\/p>\n

Generally, according to Loeiz Bourdic, MD of PriceHubble France, when comparing price per square meter in Paris, prices do not fluctuate based on the size of the property. However, when comparing the size of terraces and balconies it does. When the property is 20 m2<\/sup>, the per square meter price is significantly cheaper than that of 5 m2<\/sup>. A stark example is how the per m2<\/sup>\u00a0price of a 5m2\u00a0<\/sup>balcony is \u20ac8400 while the 20 m2<\/sup>\u00a0averages \u20ac5350.<\/p>\n

Mr. Bourdic also provided the insight that balconies\/terraces are increasingly becoming more essential during the current Covid-19 pandemic and prices will continue to rise in the immediate future.<\/p>\n

The above is the view on Parisian real estate prices from the perspective of balconies and terraces based on PriceHubble data.<\/p>\n

I knew PriceHubble\u2019s data in Paris is extensive and accurate. However, I did not realize data could be collected and analyzed not only from sale prices but also at a more granular level such as from the terrace\/balcony perspective.<\/p>\n

With headquarter in France, Germany, and Japan, PriceHubble provides real estate valuation and visualization services to European financial institutions such as BNP Paribas and major real estate companies. In May, PriceHubble was selected as a Top 50 EU Proptech startups and scaleups by the European Commission and the Finnova Foundation.<\/p>\n

WealthPark announced a strategic partnership with Pricehubble on January 20th<\/sup>\u00a0of this year to provide better services to all.<\/p>","protected":false},"featured_media":38182,"template":"","categories":[41],"tags":[49,69],"class_list":["post-4483","wealthpark","type-wealthpark","status-publish","has-post-thumbnail","hentry","category-articles","tag-cio","tag-propertymarket"],"acf":[],"_links":{"self":[{"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/wealthpark\/4483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/wealthpark"}],"about":[{"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/types\/wealthpark"}],"version-history":[{"count":1,"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/wealthpark\/4483\/revisions"}],"predecessor-version":[{"id":8923,"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/wealthpark\/4483\/revisions\/8923"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/media\/38182"}],"wp:attachment":[{"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/media?parent=4483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/categories?post=4483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wealth-park.com\/en\/wp-json\/wp\/v2\/tags?post=4483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}