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France

Paris apartment sold for record 39 million euros

media The narrow Rue des Saints-Pères on the Left Bank of Paris, with the Tour Montparnasse skyscraper in the background. Wikimedia Commons/Fred Roméro

France’s capital saw its most expensive apartment sale in January, reportedly to a businessperson leaving London because of Brexit.

According to French magazine Challenges, the 1000-square-metre apartment consists of 16 rooms over three levels of an 18th century mansion on the rue des Saints-Pères, a side street running between the Seine River and Boulevard Saint-Germain in the 7th arrondissement of Paris.

The weekly business magazine reports the apartment, sold by luxury real estate brokers Philippe Menager and Nicolas Hug, also comes with a 300-square-metre garden.

The neighbourhood became the centre of the city’s intellectual and cultural life following the Second World War, when it was associated with images of philosophers and artists in nearby cafés such as the Café de Flore and Les Deux Magots.

More recently, the area has become synonymous with luxury shopping and real estate, and it is the most neighbourhood of the capital.

In 2017, the same brokers reported a record for price-per-square-metre sale in the same neighbourhood, where a 256-square-metre apartment sold for 12.56 million euros, or 49,000 euros per square metre.

The magazine reports that Parisian apartments rarely sell for more than 30 million euros.

It cites the 2007 purchase of a 688-square-metre penthouse in the wealthy 16th arrondissement for 31 million euros by Gulnara Karimova, daughter of former Uzbek dictator Islam Karimov.

The apartment was later seized by French courts and resold for half the price.

Challenges reports that the luxury left-bank apartment was bought by a European businessperson leaving the United Kingdom, following a trend of cross-Channel movement of wealthy industrialists at the approach of Brexit.

Sotheby’s said it had sold an entire mansion, also in the 7th arrondissement, to buyers leaving London for Paris, for 48.5 million euros.

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