A Contrasted but Promising High-End Market in 2023
The year 2023 was marked by sustained activity across several strategic areas of the Left Bank, particularly in the 5th, 6th, 7th, and 15th arrondissements, as well as in northern 16th arrondissement, Boulogne, and Neuilly-sur-Seine.
These sectors continued to attract buyers seeking well-located, high-quality properties with strong long-term value.
Southern 16th Slows Down Under the Impact of Rising Interest Rates
A More Challenging Market for Family Apartments
Southern 16th arrondissement (Auteuil) experienced a more pronounced slowdown, primarily due to rising interest rates.
This trend particularly affected the segment of family apartments priced between €1 million and €2 million.
Buyers in this category — often families looking to move in order to gain an additional bedroom — faced increasing bank financing refusals, leading to a significantly higher cancellation rate than in previous years for this segment.
The 15th Arrondissement and Boulogne: Dynamic Alternative Markets
A Sought-After Alternative to Premium Left Bank Districts
Conversely, the 15th arrondissement and Boulogne-Billancourt enjoyed strong commercial momentum.
These areas acted as alternative markets for buyers who could no longer afford properties in the 7th arrondissement or southern 16th.
Similar residential profiles, comparable architecture, and the presence of highly reputed schools allowed these districts to capture sustained demand, offsetting the loss of purchasing power caused by rising interest rates.
Foreign Buyers Remain Active in the Paris Market
Despite occasional social tensions in 2023 (retirement reform protests, urban unrest), foreign clients remained highly active, representing just over 13% of Vaneau’s annual transactions.
American and Italian buyers were particularly dynamic, mainly in the 7th and 16th arrondissements and in Neuilly-sur-Seine, confirming the lasting appeal of Paris luxury real estate among international investors.
Price Trends and Positive Signals for Early 2024
Slight Price Adjustments but a Resilient Market
In the Paris districts where Vaneau operates, prices per square meter declined by approximately 3.5% in 2023, with an average price of €13,739/sqm.
This reflects a gradual adjustment of the high-end market rather than a sharp correction.
A Clear Rebound Since Mid-December
Since December 15, the market has shown renewed activity across all property types — a trend confirmed in January.
January alone recorded an increase of more than 30% in buyer inquiries compared to January 2023.
This renewed momentum, combined with:
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a historically high inventory of properties for sale (over 800 listings at Vaneau Paris),
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a gradual reopening of access to bank financing,
suggests a promising start to 2024, with a more fluid market and genuine opportunities for both sellers and buyers in the luxury segment.
VANEAU Immobilier
Tel : 01 48 00 88 75
contact@vaneau.fr
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