Key facts
- A growing number of Americans are moving to Paris for a better work-life balance, lower cost of living, or distance from US politics.
- American buyers in Paris have an average budget of 825,000 euros, higher than other foreign and French buyers.
- The influx of American buyers is driving up housing prices for local Parisians.
- Property values in Paris have increased by 1.1% over the past year and 31% since 2016.
- Transaction costs for buying property in Paris are around 8% to 9%, including taxes and fees.
- Major US cities like New York and Los Angeles are more expensive to live in than Paris.
A growing number of Americans are relocating to Paris, drawn by factors such as a desire for a better work-life balance, a more affordable cost of living compared to major US cities, and a wish to distance themselves from the political climate in the United States. Unlike previous generations who often purchased secondary homes, these Americans are increasingly making permanent moves.
In 2025, applications for French residency permits by Americans saw a 17.3% increase compared to the previous year, totaling 15,388. This trend is impacting the Parisian real estate market, with locals expressing mixed feelings. While the influx of foreign capital is stimulating the market and creating opportunities, it is also contributing to rising housing prices for French residents.
According to Maître Angélique Devaux, a notary in Paris, Americans are among the most significant foreign buyers in France. They tend to have higher budgets, with one in four foreign buyers in Paris being American and their average budget reaching approximately $950,000 euros, surpassing the average for both other foreign and French buyers. Popular neighborhoods for these buyers include Odéon, Saint-Germain-des-Prés, Le Marais, and the Triangle d'Or, with some also exploring areas like Nouvelle Athènes and Montparnasse.
For many Americans, purchasing property in Paris is also seen as a diversification strategy for their investment portfolios. While not primarily a lucrative investment in the short to mid-term due to transaction costs of 8-9%, it is considered a safe asset. Property values have seen a modest increase of 1.1% in the past year and 31% since 2016, with projections of a 2-4% annual increase over the next decade. The city's constrained supply due to its urban limits and historical preservation, along with its accessibility via nearby airports, makes it an attractive long-term investment. Holding assets in euros also offers a hedge against US dollar volatility.
Beyond investment, Paris offers a lower cost of living compared to cities like New York and Los Angeles. Residents benefit from free healthcare and education, and the city's walkability can reduce transportation costs. A bilateral tax treaty also prevents double taxation.