Paris Ile-de-France, also known as Paris region, is the most populated French region with 11.7 millions of inhabitants, called the Franciliens. The region is often mixed up with Paris agglomeration, here is the difference. Ile de France is a region composed of eight departments: Paris (which is both a department and a city), Hauts de Seine, Seine-Saint-Denis, Val-de-Marne, Seine-et-Marne, Yvelines, Essonne and Val d'Oise; while Paris agglomeration is a unity composed of Paris and the three border departments (Hauts-de-Seine, Seine-saint-Denis and Val-de-Marne). Paris agglomeration is also called the ‘small crown’, while the four other departments are called the ‘large crown’.
It is surprising to notice that even though the region gathers 19% of the French population, 80% of its area is covered by natural and agricultural spaces. Moreover, 14,000 hectares are covered by water, which is to say as well ponds and lakes as rivers. As a result, the region has a very high density of population, especially Paris agglomeration, which is the most populated, while the large crown offers more greeneries and agricultural spaces.
Paris Ile-de-France is one of the most important economic centres worldwide. It is the first European region and the second worldwide (after Tokyo) as regards the setting up of the largest firms’ headquarters, and also the second worldwide (after Bruxelles) as far as International Organizations (Unesco, OECD, etc.) are concerned.
Paris Ile-de-France is also the first touristic destination in France, first touristic country worldwide. Every year the city welcomes over than 45 million of tourists, 60% of them being foreigners. It is also the first destination in the world for business meetings. Paris Ile de France has so many activities on offer, from cultural visits, to sport games, including night life, outdoor activities, business activities, etc. Everybody will find its happiness in this very rich and diversified region, kids to growing up persons, including businessmen and sportsmen, etc.
Paris Ile-de-France is the first European real estate asset for companies. The region manages to meet successfully the always high demand for properties. Investors from the United States, Europe and the rest of the world appreciate especially the return, market liquidity, diversity in the rental market and security for transactions.
|Property prices in Ile de France and its 8 departments in 2009|
|Location||Apartments € /sq m||Houses €|
|Hauts de Seine||4,450||505,600|
|Seine et Marne||2,570||225,900|
|Seine Saint Denis||2,870||244,600|
|Val de Marne||3,620||331,200|
|Ile de France||5,000||279,700|
If we compare Paris Ile-de-France with the national average, obviously prices will seem prohibitive. Indeed, a house is sold €3,200 /sq m in average in France in 2009, compared with €5,000 /sq m, the difference is alarming! However, the region can only be compared with other capital cities, such as London, Berlin, Madrid, and by doing that we realize that the Parisian region is not as expensive at it seems. Indeed, London is much more expensive, and Paris has the advantage to offer a fairly affordable suburb.
The most expensive properties are to be found in Paris itself, and as you go further from the centre you find properties affordable. The small crown is still rather expensive, with €4,450 /sq m in Hauts de Seine for instance, however, Seine Saint Denis with €2,870 /sq m is surprisingly affordable. Living in the small or large crown is an excellent alternative to living in Paris. Owing to excellent transport infrastructures, you can reach the centre of Paris within an hour easily, which is not much as we are talking about a 11,000,000 inhabitants area.
The purpose of your investment may help you to choose the location. If you want to invest in a buy-to-let, you will prefer to buy an apartment near university centres, or near economic attractive areas. However, if you want a pied-a-terre or a second home to spend holidays with your family, then you will probably prefer a peaceful place located somewhere in the large crown. You will be surprised to find nature, forests and fields so close from Paris.
|Property prices in Ile de France in April 2009|
|Property types||Price € /sq m||Average price €||Average area|
|Domain estate||3,200||534,475||161sq m|
|Ile de France Total||€5,000 /sq m|
To get updated info about property prices in Paris Ile de France, please browse our French Property Market Reports published in the News Section every month.
Click here to have an overview of Paris Ile de France Property Prices.
There are many and many reasons to buy a property in Paris Ile-de-France, as it is definitely the most attractive region in France as regards business investment or tourism.
Culture, art and historical heritage: Paris in its own can be described as one of the largest cultural cities in the world, hence if we had both the small and large crown, the area is definitely at the top of the ranking. In Paris itself you will see the famous Louvre, Notre Dame de Paris cathedral, etc., while in the surrounding departments you will visit Versailles, Vincennes, Fontainebleau, etc.
Tourism: Paris is the most attractive destination in France, with over than 45 million of tourists every year. As a result tourism is a large source of income and jobs for the region. Hence, tourism generates more than 600,000 jobs in the region. The Parisian region offers a very large range of choice, from cultural tourism, to business, including entertainment parks (Disneyland Paris), outdoor activities, etc.
Tranquillity and scenery: departments of the large crown offer both urbanized areas well linked to Paris, and rural areas where you can buy a 19th century farmhouse. There are some forests and natural parks within easy reach from the capital city, such as the famous Fontainebleau forest.
Architectural style: it is useless to mention that the region displays an incredible rich architectural heritage, from Gallo-Roman era to contemporary style. Paris is most renowned for its Haussmann architecture, while in the surrounding departments you will be charmed by the combination between medieval quarters with Art Nouveau dwellings. Both the small and large crowns have started to develop very quickly after WWII, during the '30 glorious years', which explains the modernity of town planning and buildings.
Cosmopolitan life: if you are looking for night life and busy city, Paris and its suburbs are definitely the place to go. In Paris there is something to do every night, every day, the city never rests. Its suburbs are quieter and enable you to take a bowl of fresh air.
Lifestyle: Paris is renowned to be a cultural city, as much for the museums and culture it has on offer, but also for its bohemian way of life. Even in the middle of the city the traditional French way of life is well present: street markets, cafés, music in the streets, etc.
Location – transport links: it is obvious that the Parisian region is the best place if you want to travel, as it offers many international airports (Paris Orly, and Paris Roissy, between others). It also boasts excellent train networks, not to mention the underground and regional trains and buses going through the whole region.
Apartments: in Paris and in cities, apartments are the main dwelling. This is understandable, as the region expands and develops very quickly and there is an urgent need to meet the high demand for housing. There is an impressive large choice of apartments, from the small studio for students, to the luxury 200sq m apartment at the heart of Paris. Range for choice is large, and so are prices.
Farmhouses: there are to be found mainly in the large crown, this is to say in the departments which do not share borders with Paris. The large crown used to be a very rural area; it was indeed the agricultural area which provided food to the capital city. Farmhouses used to be modest dwelling with a practical use. Nowadays, most of them have been restored, and they have kept their authentic aspect, while inside they are luxury properties. They often come with a piece of land, usually a large garden.
Detached-houses: they are to be found both in cities and in rural areas. In cities they are usually one storey high, but are big enough for a family with 3 children. They also come with a private parking, and sometimes, if not located at the heart of the city, with a small piece of garden. In rural areas, of course they are larger, and are usually 2 storey high. They are a good investment for a second home.
Manors and castles: they are more common than you would think, and this can be explained as Paris surroundings were dwelt by noble families, and each of them used to own their own castle or manors. Of course these properties are totally prohibitive, however, if you do have some funds, you might want to invest in one of them and transform it into various apartments, or into a hotel. These huge properties are commonly 3 storey high, and are very luxurious. They come with a huge piece of land, sometimes with a pond or a forest. You will be also likely to find some of them with swimming pool.
Click here for more info about the Architecture in Paris Ile-de-France.
|Take a closer look at the Paris Ile de France property market:|
|Paris Property Insight|
|Essonne Property Insight|
|Hauts de Seine Property Insight|
|Seine et Marne Property Insight|
|Seine Saint Denis Property Insight|
|Val de Marne Property Insight|
|Val d’Oise Property Insight|
|Yvelines Property Insight|