property
Luxury Penthouse Paris 8th: €19.6M Record Auction
A record €19.6M penthouse sale on Rue du Faubourg Saint-Honoré in Paris's 8th arrondissement is reshaping property valuations. Near Place de la Concorde and Jardin des Tuileries.
How we reported this
A 280-square-metre penthouse at 45 Rue du Faubourg Saint-Honoré sold for €19.6 million on 8 July, the highest single residential result recorded at Paris auction this month.
The outcome arrives as buyers return to core arrondissements after months of slower turnover. Premium stock in the 1st through 8th remains scarce, and the €19.6 million figure has prompted agents to revise reserve prices on three other properties now scheduled for late-July sales.
Local Market Effects Near Key Landmarks
The apartment sits two blocks from Place de la Concorde and within walking distance of the Jardin des Tuileries. Both locations have seen renewed interest from international buyers since the Grand Paris Express stations at Concorde and Madeleine advanced to final fit-out this spring. Local agency Immo Prestige, which handled the July 8 sale, reported eight registered bidders, four of whom were based outside France.
Two other streets in the immediate vicinity, Rue Boissy d’Anglas and Rue de l’Élysée, now carry revised guide prices that sit 12 per cent above March levels. Clearance rates for the 8th arrondissement reached 68 per cent in the first half of July, up from 51 per cent in the same period last year.
Price Data and Early August Calendar
Paris city-wide average prices stand at €10,000 per square metre, yet the Rue du Faubourg Saint-Honoré transaction achieved €70,000 per square metre. Three comparable apartments on the same block, each between 240 and 310 square metres, are now listed between €16.8 million and €18.4 million ahead of the 29 July auction round at Drouot.
Agents advise vendors to complete minor works before the next sale date and to set reserves no higher than 15 per cent above the most recent comparable. Early registration for the 29 July session closes on 22 July.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.