With great historic homes, excellent schools and a huge park, the 16th arrondissement of Paris is the perfect family base


With its ornate 19th-century buildings, wide avenues, vast parks and various museums, Paris The 16th arrondissement has long been home to the creme de la creme of French high society.

Just across the Seine from the Eiffel Tower, it boasts great views of Paris’ most famous monuments and contains many of the city’s most famous cultural sites in its sprawling borders, stretching from the Arc de Triomphe to the Bois de Boulogne, a vast area. A public park that is more than twice the size of Central Park.

Paris’s answer to opulent New York’s Upper East Side or exclusive Kensington, the area is steeped in serene charm and is famous for its historic Haussmann architectural style, named after Baron George-Eugene Haussmann, ruler of the Seine in the mid-19th century. Under his rule, Paris acquired twenty arrondissements or districts, its long, straight streets and beautiful houses, each cut from huge blocks of stone, no more than five stories high and featuring elegant wrought-iron balconies, high ceilings and large windows.

“If you are looking for Parisian architecture par excellence, streets completely frozen in time, Art Nouveau, private villas and views of the Eiffel Tower, this is the place for you,” said Alexis Caquet, Managing Director of Engel & Völkers Market. Paris center. “Haussmannian buildings are the majority in this area…You’ll see a touch of Art Deco, lots of Art Nouveau and some really cool and successful atypical buildings.”


border

The sixteenth arrondissement is bounded on the north by the Arc de Triomphe and the northern edge of the Bois de Boulogne, on the east by the Seine, on the south by the southern rim of Bois de Boulogne and on the west by the river Seine, which bends around the entire circle, encircling it on three sides.


price range

Apartment prices vary greatly from one street to another and even from one floor to another. “In the same building, depending on whether the property is on the first floor or upstairs, the price will be completely different,” said Valerie Celinan, Director 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 charge a different price… If there is a nice view of the local monuments, that immediately increases the price dramatically, as does a roof terrace.”

Prices start at €10,500 to €11,000 ($11,048 to $11,574) per square meter for older apartments in less elegant areas of the circle, Ms. Selignan said. For an apartment in good condition, with a view, this figure doubles, “and the most expensive real estate in the area at the moment amounts to 42,000 euros per square meter. This is for [penthouse] Apartment overlooking the Eiffel Tower, decorated by a very famous designer and sold with all the furnishings. ”

Renovated apartment building in the 16th arrondissement, Paris.

Engel & Volkers Paris MMC

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For a beautiful, renovated apartment with luxurious amenities and a beautiful view, in one of the most sought after zip codes, prices often do not exceed 24,000 euros per square metre. Meanwhile, homes are extremely scarce, “which leads to higher prices,” she said.

Mr. Kaquet said prices are hard to generalize. “The main criteria that affect the selling price are of course the address, the size, the floor – the top floor is more expensive – or the condition of the property” but “properties above the scale remain the participating apartments or hotels” [the city’s grand townhomes] With … a look at the Parisian monuments.

Montmorency villa has the highest average price per square meter thanks to its luxury homes with private gardens at CAC 40 [a benchmark French stock market index] Investors are stealing money, so it is not surprising that the price per square meter in this segment approaches 18 thousand euros. Avenue d’Iéna and Place de l’Alma take second place, and prices around Avenue Victor Hugo and Rue de Passy are slightly lower.

This luxurious, renovated three-bedroom apartment in the 16th district is asking about $7.66 million.

Engel & Volkers Paris MMC

dwellings

“It is an area with very beautiful architecture and very spacious apartments,” said Ms. Selinan. High net worth buyers covet the historic Haussmannian properties “which feature beautiful high ceilings, marble fireplaces and beautiful wood floors,” she said.

The area is the largest in the city and the only one to be divided into a northern and southern zip code. “The most elegant streets in the North are Foch Street, George Mandel Street and Henry Martin Street,” she said. “The north is known to be more elegant than the south but families currently tend to prefer the south, the area known as the Village d’Auteuil, which has a very good reputation.”

The most desirable properties are the spacious historic homes, or participating hotels, which are 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 technology, indoor spas, personal gyms and private movie theaters, Mr. Caquet said.

Interior view of a 164m2 apartment located in the prestigious Walter Buildings. The luxury residence is currently listed at approximately $3.5 million.

Engel & Volkers Paris MMC

What makes it unique

The 16th district is steeped in history and culture, and is home to the Museum of Modern Art of the City of Paris, the charming Musée Marmottan Monet, Palais de Tokyo, Fondation Le Corbusier, Fondation Louis Vuitton, Palais Galliera, dedicated to fashion, and the Wine Museum, among many others.

“The area includes the famous Arc de Triomphe as well as the Trocadero where tourists from all over the world come to enjoy the most beautiful view of the Eiffel Tower,” said Mr. Caquet. It’s also a spectator sports hub, containing the Parc des Princes, the stadium of the Paris Saint-Germain football club, and the Roland Garros Stadium, where the French Open tennis tournaments are held.

“Among its main assets is its proximity to the Bois de Boulogne: 1,840 hectares of nature among forests, trails and small lakes,” said Mr. Caquet. “It’s also the area where most of the embassies and consulates are.”

It is located near the Boulevard Périphérique, the main ring road connecting Paris, and not far from the city’s edge, providing easy access to both in and out of the capital. “It’s easy to get out of Paris, go to the airport or go into the country, so it’s very convenient,” Celinan said.

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Luxurious amenities

“The 16th arrondissement is very much appreciated by families who are looking for a good school sector to be close to such prestigious institutions as Ecole Gerson and Collège, Lycée Janson de Sailly … Lycée Collège Jean-Baptiste Say and Lycée Saint-Louis de Gonzague,” he said. Mr. Caquet. It is also home to the prestigious Paris International School, Bilingual Montessori School, Kingsworth International School and Canadian Bilingual School Paris.

The area is also a prime spot for fine dining. It has 10 Michelin-starred restaurants, including the top-rated Alan Geaam, the popular Nomicos and La Grande Cascade – Frédéric Robert, located in the center of the picturesque Bois de Boulogne.

Mr. Caquet recommended Ducasse-sur-Seine, who is “on a barge moored in front of the Eiffel Tower at the foot of the Trocadero with a silent boat that allows you to sail on both sides of the Seine”, as well as Mr. Bleu at the Palais de Tokyo.

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who lives there

“There are a lot of people in Paris because it’s a very attractive area to live in,” Celinan said. “We also have a lot of Parisian families because they have a lot of excellent schools…and at the moment we also have a lot of international buyers, especially from the Middle East.”

Mr. Kaquet said the 16th arrondissement is “also very popular with diplomats and foreign buyers looking for an exceptional place to stay in the land”.

This recently renovated apartment is located in one of the most luxurious 16th century buildings in the area.

Engel & Volkers Paris MMC

Notable population

Historically one of the city’s most affluent neighborhoods, the 16th arrondissement was once home to famous personalities including writers Marcel Proust and Honoré de Balzac.

Among the current high-profile residents are billionaire businessman Vincent Bollory, Canadian singers Mylene Farmer and Celine Dion, American singer-songwriter Lenny Kravitz, French actress and model Carol Bouquet and Italian-French singer and model Carla Bruni, Mr. Caquet said.

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prospects

Prices stabilize after the surge that occurred during the first year of the epidemic. “We had a huge amount of work in 2020. During the two big months of lockdown we did as much as in the whole previous year because people who had money in the bank wanted to invest in real estate,” Selignan said. It added that the slight increase in sales continued into 2021.

“Interest rates are going up a little bit now, but I don’t expect it to have a huge impact, especially in the luxury goods market, because people who are looking for luxury properties are usually cash buyers,” she said. “For families and young people looking for smaller apartments it may have a bigger impact but the prices are very stable at the moment. The market is still going strong.”

Mr. Caquet said properties that don’t have “a little extra” to stand out, such as a large balcony or parking space, are currently seeing a slight price drop. “However, now international customers are back and showing interest in Paris…Demand is there and prices have remained at a high level and are expected to stabilize in 2022.”

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