Thank heaven for little lieux...at these prices;
Paris's Sixth Arrondissement, in the heart of the city's Left Bank, has been the stomping ground of Europe's intellectual and artistic elite for most of the past 100 years. Gertrude Stein, Ernest Hemingway, Jean-Luc Godard and Jean-Paul Sartre all lived there. Now, drawn to the area's 18th-century architecture and 21st-century amenities, a new kind of elite led by wealthy Americans and Europeans has helped give the Sixth the highest median prices for residential real estate in Paris.
The current average price for an apartment in the Sixth is $1,589 per square foot....And it gets worse, says a Parisian realtor;
A three-bedroom, 1,076-square-foot apartment "on a good street but not the best, with not too much noise" and in need of some renovation, could cost about $1.9 million, or $1,772 per square foot, he estimates. High-end apartments right on the Luxembourg Gardens or in prime buildings in Saint-Germain-des-Prés can reach $2,530 per square foot.Fortunately the French voted for socialism;
Paris prices peaked at the beginning of 2012, after sharply recovering from the drop during the world-wide recession, but they then declined in response to increases in French capital gains and other taxes, and a perceived flight in wealth following the election of Socialist President François Hollande in May 2012. Prices continued to come down in 2013, with high-end properties registering declines of 10% or more....