An article that explains the monthly expenses of a high-end apartment in Paris

• Shared cost based on apartment's percentage of floor area

It is divided into two parts: the monthly property fee and the renovation fee when the building is undergoing major works. We will explain the cost of major works renovation in the second part "The cost of major works of the building".

First of all, let's look at the property fee: it includes the cleaning fee of the common area, the water and electricity fee for the operation of the building, the salary of the occupancy manager, the elevator maintenance fee, etc. The property fee of a high-end apartment in Paris is about 40 euros/square meter/year. The specific data of course depends on the different levels of services provided by the apartment building (such as whether there is an elevator, whether there are occupancy managers, etc.).

• Electricity and internet charges

In Paris, the cost of using high-speed internet (> 100 bit/s) is around 30€/month, including the basic TV channel fee (up to 100€/month for a subscription to more channels). The vast majority of Parisian apartments use electricity for hot water, heating and kitchens, in which case the monthly electricity bill is around 250 euros.

Only 1% of apartments in Paris have air conditioning, so air conditioning costs don't count as an "everyday" expense. If an air conditioner is installed, it will cost between 50 euros and 100 euros per month, depending on the frequency of use.

If you install an internet-connected alarm in your apartment, the annual fee for internet connection is around 400 euros.

• insurance

There are two types of insurance premiums for houses in France: Residential Insurance and Non-Residential Landlord Insurance. If your apartment is located on the middle floor, the annual insurance cost is around 400 euros; if you are a landlord but do not live, the insurance premium is around 200 euros per year (tenants or friends who live in the apartment need to buy additional residence insurance). Insurance premiums for top or ground floor apartments will be a few percent more expensive.

The insurance costs we are talking about here are completely different from the insurance you bought when you applied for a mortgage.

• Apartment interior cleaning and interior light maintenance fees

In Paris, apartment cleaning costs around 15-20 EUR/hour. Generally speaking, a 100-square-meter apartment needs about 4 hours of cleaning time a week. The light maintenance fee depends on the internal structural features of the apartment, such as the height of the walls, etc. (determining the area and cost of painting). We can average out an annual budget of 0.5% of the condo value.

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