When making any big international move, sourcing appropriate accommodation is top of the ‘to do’ list. While your employer may offer a housing solution as part of your corporate package, for many British expatriates moving to France, there will be a period of research to find the right Parisian home for yourself and your family.
If you’re looking to reside in the ‘City of Lights’, should you rent a property or invest in a permanent French home? We explore some of the key details for both renters and purchasers in our expatriate guide to Paris.
The rental option
For expatriate families moving to Paris, there are a number of attractive and desirable suburbs to consider, as well as the city centre itself. In the city, you will find traditional apartment blocks, which are practical in terms of location, but limited in size. If you’re relocating with children, you may prefer a larger property, particularly one with plenty of outside space.
Opting for a commutable neighbourhood a short distance from Paris itself, such as Saint Germain-en-Laye or Saint Cloud, is a good solution. These suburban areas are close to the best international schools and have a strong community feel.
Most expatriates start by renting in Paris, in order to ‘test drive’ a location before committing to a purchase. There is a certain amount of red tape to navigate on the rental market, but in general it’s a tenant’s industry. Unlike in the UK, you are likely to have to fill in a detailed application form for any property you wish to rent.
It can be quite difficult to find the perfect property quickly. With almost half the population renting, and many doing so long term, the most exclusive apartments and houses get snapped up quickly. In France, unfurnished properties are usually rented for a minimum of three years, though you, as the tenant, can opt to give notice sooner.
Furnished properties can have shorter contracts, however there is a legal definition of what ‘furnished’ means and what must be included in the property.
The rental market is booming in Paris, and prices are soaring as demand continues to increase. However, it is still comparable to London. Most rentals tend to be apartments in the city centre itself, but if you require a family home, be specific with your rental agent about your requirements. Rental agents may hear of properties before they come to market and this can be invaluable when it comes to acting fast on the right home.
Once you have found the right property, there will be various fees to pay as well as a detailed tenancy agreement. See our guide to renting an apartment in France for more information.
Many expatriates who relocate to Paris long term will end up buying a property, whether initially or after a period of living in the country in a rental home. The property market in Paris is strong and prices have been rising more rapidly than in other areas of France. In fact, at the end of 2018, property prices in Paris reached record highs, with no sign of slowing in 2019.
For those wanting to live right in the centre of Paris, expect to pay an average of €9,750 per metre, with prices rising to as much as €17,410 per metre in the most-expensive area of Odeon. The suburbs remain more affordable, at around €5,970 per metre, but this is a still a significant rise on previous years. There are no signs of a drop-in value on the horizon, so property is still considered a good investment in the region.
After engaging the services of a registered real estate professional, you can begin searching for and viewing properties. The property buying system is a little different to in the UK, but it is straightforward. It’s also a market that is more than used to international investment. See our expat’s guide to buying a property in France for further information on how to proceed.
Whether you opt to rent or buy in Paris, see our guide to moving to France to find out how we can help you with your international relocation.
FAQs
And when you consider that, on average, the French move every seven years, you don't need to be good at math to realize that renting your home is ultimately more profitable than buying it. Unless, of course, you're young and intend to spend most of your life in the same home.
Is buying property in Paris a good investment? ›
Owning real estate in Paris, be it an investment property or a studio, is a lucrative choice for both locals and foreigners. Yet, it's pivotal to grasp the intricate tax regulations to ensure compliance. Impressive stats reveal a 22% average price hike over a decade in France.
What are the pitfalls of buying a property in France? ›
Seven French Property Pitfalls to Avoid
- Investigate tax, succession and inheritance.
- Be smart with your cash, save on currency.
- Work with a qualified English speak agent.
- For properties with land, learn about SAFER.
- Be realistic about renovation costs and timeframes.
- Budget for property taxes and additional costs.
Buying vs renting in France
While people in rural French areas typically own their homes, in cities it's common to rent an apartment, even for very long periods. When deciding whether to buy or rent property in France, you should consider the various factors and decide what makes the most sense for you.
What is a comfortable salary to live in Paris? ›
What is a good salary in Paris? Statista reports that a yearly salary of €67,919 or €5,660 per month can provide a comfortable lifestyle in Paris. This salary will let you finance a car, rent a decent apartment, and enjoy life through holidays and other activities.
Is it cheaper to live in Paris than the US? ›
According to the Cost of Living Comparison website, the overall cost of living in France is 31% less expensive than in the United States. This means that you would need to earn about 31% less money in France to maintain the same standard of living as you would in the United States.
Are property taxes high in Paris? ›
“In the rest of France, the property tax represents on average 0.5% of the real value of housing. But in Paris, it's between 0.1% and 0.2%. “Looking internationally, the average property tax paid is around 1% of the value of the property. Paris rates are still a fraction of that.”
Can US citizens buy property in Paris? ›
Individual Ownership : U.S. citizens/residents may purchase French real property in their individual names. If they do so, the French real property, as immovable property and under international private law rules, will be governed by French inheritance and tax laws.
Is it a good time to buy property in Paris France? ›
Right now, there's an incredible window of opportunity to buy property in Paris and we don't want you to miss it! Above is a chart showing the price evolution of Paris apartments over 2023. The overall decline has been 5.4% in 2023.
Is it wise to buy a house in France now? ›
The French property market has remained stable, thanks to the continuous demand from both domestic and international buyers. However, non-cash buyers have found it challenging to enter the market due to high interest rates and unfavourable borrowing conditions.
Central France - cheapest property prices in France
The relatively sparsely populated departments in Central France (Creuse, Vienne, Haute Vienne, Indre, Cher, Allier and Loiret) have traditionally been the cheapest places to buy property in France.
Is it a bad time to buy property in France? ›
High interest rates and tough lending rules have hampered the property market since 2022, but experts suggest 2024 may be a better year. Property in France is said to follow a 'cycle', and is currently experiencing a 'crisis' - but there are some small signs of improvement for 2024, say industry experts.
Is it cheaper to live in France or USA? ›
United States is 24% more expensive than France. Apr 2024 Cost of Living.
Is it realistic to move to France? ›
It can be hard to move here, especially if you do not speak French and want to settle in the countryside. However, a straightforward immigration system and extensive transportation infrastructure means that the practical elements of moving here alone or with family can be achieved with the correct planning.
Why is rent so high in Paris? ›
The supply of apartments is insufficient compared to the demand. Paris is a very popular city, both for French and foreigners. As a result, real estate prices are high. Paris is a very expensive city, and this is reflected in the price of housing.
Is it wise to buy property in France? ›
In terms of pricing, France faces the housing prices in 10 years, with a raise of 5.85% during the first half of 2021 (4.41% when adjusted for inflation). The tendency is that the French property market keeps strong — which brings opportunities for foreigner investors looking to buy a home in the country.
Is it worth buying property in France? ›
Firstly, the property market has been growing steadily for the last 5 years and has shown remarkable resilience, even despite 2 Covid-19 confinements. Secondly, the French economy is forecast to rebound strongly in 2023 with GDP growing by +4.2% , following a healthy +6.8% recovery during 2022.
What is average monthly rent in Paris? ›
Here's an indication of the average monthly rent in Paris based on our rental index 2024. Furnished Private Room with utilities (best for students): €750. Furnished Studio with utilities (best for singles, couples, or new graduates): €1,367. Unfurnished Apartment with utilities (best for couples or families): €1,834.
