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31st July 2010
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What does the 16th arrondissement offer investors?Investing in the 16th district of Paris Wanting to invest in an area of Paris that is family-friendly and still relatively undiscovered by foreigners? Property finder Emily Akerman suggests the 16th arrondissement is worth a look."The northern part of the 16th just off the Champs Elysées - around the Arc de Triomphe, avenue Foch, place Victor Hugo and the Trocadéro Palace with its stunning views of the Eiffel tower - is best known by tourists. However, the 16th "arrondissement" is a relatively large district that runs from the Bois de Boulogne in the west to the Seine in the east, and offers potential investors much more than a few famous landmarks. The rest of the district, away from the northern parts, is mainly residential with a calm atmosphere, attracting people in the 40–50 age group and families looking for a less expensive alternative to the upmarket 6th and 7th arrondissements. It is particularly favoured by families as it houses over 40 schools, including many private establishments, and an annex of the Sorbonne university - Paris IV. Up and coming areas If you are looking to purchase a property for investment in this area it is worth investigating the lesser well known parts where property comes at a lower price than in the expensive northern area. Among these is the "Passy" area encompassing the street by the same name, "rue de Passy", leading from la Muette metro station up to the Trocadéro palace. The Passy area is not as prestigious as the north, but it is a relatively vibrant area of the 16th district with many quality shops attracting artists and bohemians. As the population is on average younger here, properties closer to the schools are very much sought after. There are plenty of good places to eat at Passy and rue de l’Assomption is a particularly busy pedestrianised street just off the rue de Passy with many restaurants and a lively atmosphere. Another up and coming area further south is the village d’Auteuil. As the name suggests this area has a distinctly intimate feel to it and is home to many people who seek family-sized apartments at a lower cost than those in the north of the 16th. Where you would spend around €700 000 for a 90m2 three-bedroom apartment close to the Arc de Triomphe (€7777/m2), a property of the same size at Auteuil would be closer to the €500 000 mark (€5555/m2). The village is based around the impressive "église d’Auteuil" church with bistros, restaurants and shops nearby on the rue d’Auteuil. It has a young feel and unlike other more international areas of Paris the population is largely French. There is currently a new development by Cogedim just to the south of the village d’Auteuil, where prices range are at around the €9000/m2 mark with a three-bedroom apartment going for €1 015 000. As building plots are relatively rare in central Paris the price reflects the fact owners will have the luxury of owning a brand new property in a central location. Rental market Towards the south of the 16th you will be less likely to tap into the short-stay corporate market, however long-term rentals for families can bring good returns. A three-bedroom 101m2 apartment in the village d’Auteuil will currently let at €2500 per month. For those looking to spend slightly less a studio is always a good buy, attracting students and young professionals, and will give steady yields. A 23m2 studio on avenue Victor Hugo will sell for around €210 000 and could then be rented out at €850 per month." Emily Akerman is a property finder for Tricolore Property in Paris. Paris Investment Properties Home Page Looking for a property in France? Use FrenchEntrée's Property Finders to help you find your property and to help you through the buying process 
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