This success has had the direct result of shooting property prices in Versailles to among the highest in the Île de France region. The Prefecture of Yvelines certainly knows how to capitalise on its charms and the prestige of its illustrious past. The Yvelines départment is one of those extraordinary places to live, offering not only a unique historic setting but unspoilt natural surroundings and a leading employment area. The property market here is characterised by its enormous diversity. Still much clamoured-after for its quality of life and its prestigious past, Versailles has exceeded the €8,000 per square metre threshold for apartments and even more so for luxury properties, houses and the highly coveted private mansions. At these prices Versailles is one of the most costly places to buy in the Greater Paris area. Its real estate market attracts managers, senior executives and business leaders whose acquisitions are closely linked to their professional careers, meaning that there is a high level of turnover for properties, roughly every four to five years. The rental market is also a major sector, with consistent demand from students thanks to the specialised top-level higher education institutions surrounding Versailles, including grandes écoles. A situation that leads to high numbers of investors purchasing studio or 1-bed apartments to rent out.
Rising to the challenge of modernity
Beyond financial considerations, investing in real estate in Versailles means delving into the great history of France! Approximately 16 kilometres (10 miles) southwest of Paris, Versailles was originally an artificial town built up from scratch on the orders of King Louis XIV. It is even considered to have coined the concept of “new towns”, which notably inspired the construction of Washington and St. Petersburg. It was the seat of French political power for over a century, from 1682 to 1789, before becoming the cradle of the French Revolution. Having been relinquished of its status as a royal city, it became the administrative centre of the Seine-et-Oise département in 1790, then that of the Yvelines département in 1968. Fast forward to the 21st century and Versailles is now a chic and bustling residential town with a service-based economy, best known for its palace and gardens, a monument that has earned global renown and been inscribed on the UNESCO World Heritage List. So who lives in Versailles? The town is divided into eight districts: Notre Dame, Saint-Louis, Chantiers, Montreuil, Porchefontaine, Clagny-Glatigny, Satory and Jussieu, totalling 90,000 inhabitants who form a population representative of modern society (bearing in mind that its proportion of 25-30-year-olds is higher than the national average). Besides its historic nature, Versailles is without doubt one of the most liveable towns in the Île de France region. It has a high concentration of shops spread across all of its neighbourhoods as well as four particularly popular markets, even with Parisians who don't shy away from making the trip every weekend! In terms of cultural scene, Versailles is home to a school of fine arts, a National Conservatory with regional standing, a theatre and a (royal) opera house, not to mention its palace, a source of great pride for its inhabitants. Another aspect of particular interest for prospective buyers and investors, the property market here is sustained by the town’s economic vitality offering 50,000 jobs. Boasting 5 stations serving the inner Paris area and easy access to the A12, A13 and A86 motorways, Versailles has excellent transport connections, making it a natural extension of Paris and the business district of La Défense. The town is also developing its network of cycle paths in response to rising demand from its population already favourable to the cause of sustainable development. Just one way in which Versailles has risen to the challenge of modernity: in the vicinity of its palace and its protected sector, the largest in France at 246 hectares (608 acres), new neighbourhoods have sprung up interspersed with prime examples of contemporary architecture. More than 4 million visitors come to Versailles every year to enjoy its warm welcome, its top-end selection of hotels, and its attractive restaurants and shops. In a world where environmental questions are more and more prominent, the exceptional green spaces here offer the ideal place to relax, and contribute to the quality of life for which Versailles is so famous. A potential property purchase or rental in Versailles thus represents a reasoned undertaking, in a town whose name carries all the prestige of a luxury brand – something few other towns and cities around the world can claim!
With its royal heritage and elegant architecture, Versailles is a top location for investing in luxury real estate. Consider contemporary apartments in Levallois-Perret, family homes in Rueil-Malmaison, or explore villas for sale in Saint-Cloud. You might also be interested in the refined areas of Neuilly-sur-Seine, Boulogne-Billancourt, and Saint-Germain-en-Laye.
