How nicely can I live in Paris on 5000 euros a month? - Lending 3

How nicely can I live in Paris on 5000 euros a month?

I am thinking of moving to Paris and can spend 5000 euros a month on living costs – this is not my income but just how much I want to spend on my living expenses. Can I afford a decent lifestyle – nice apartment, car and eating out??

PLEASE DO NOT ANSWER IF YOU HAVE NEVER LIVED IN PARIS YOURSELF – I am looking for serious replies from people who currently live in Paris or have lived there in the past.

Thanks!!!
Thanks for the answers. Well right now i’m living in a 10 bedroom house with servants and chauffeurs – lol.. it belongs to my family but I don’t expect to live that way in Paris. I just want a 2 bedroom apt. (around 2000 euros a month would be ideal) and a Mercedes convertible at least. Anyone have an idea about cost of owning a car in paris? Insurance, parking etc.? If I buy the car outright – without a loan then is another 400 euros a month enough for insurance + parking and other costs??

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  1. rillifane, April 3, 2014 10:51 am - How nicely can I live in Paris on 5000 euros a month?

    Yes, that’s an adequate income.

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  2. ChocoBN, April 3, 2014 11:02 am - How nicely can I live in Paris on 5000 euros a month?

    Everyone has a different definition of what a decent lifestyle is but 5000 euros a month for living expenses is well above average in Paris. It is enough to support a family of 4 decently and it certainly is a lot of money for one person, unless you are used to luxury where you live now.

    Paris is not Manhattan or Tokyo, it’s much cheaper. The only thing that is very expensive in Paris is the price per square meter, whether for property or rent. For instance it is easy to find cheap accomodation in Paris (300 € to 800 € a month) but that will get you a very small studio in good arrondissements. The average rental price per square meter is 35 € in prestigious arrondissements and 25 € in the least prestigious parts of the city so a larger 2BR 900 sq.ft apartment would cost 2000 to 3000 a month depending on the arrondissement. Outside Paris 2000 euro a month would get you a large 3 or 4BR house in a posh suburb but there are very few houses for rent, most are for sale.

    It takes about 900 to 1000 euros for a student to live modestly but decently in Paris. That covers a room or tiny studio, utilities, food, transportation, clothes, all the basics + a few drinks and cinema tickets on weekends. So with 5 times that you would be living very well.

    EDIT: I don’t see what you would do with a car in Paris if you are single, having a car in Paris is a pain and makes you a nuisance. Most buildings are too old to come with a parking space. If I were you, I would give up on the idea of owning a car in Paris. You could rent one if you wanted to travel in France or go on weekends. Only 47% of Parisian households have a car and those that do are families. Car insurances are far cheaper and more comprehensive than in the US but:
    – gas is 4€/gallon
    – a parking space in Paris costs 100 to 300 €/month and may be a few blocks from your home
    – buying a new, non eco-friendly car will incur a fine of 200 € to 2,600 € (on the other hand, if you bought a more eco-friendly car, you could get a discount up to 1,000 €).
    – many Parisians will frown at you for owning a polluting car in Paris and you would gain a lot of enemity for being irresponsible and selfish (Europeans in general are appalled at how environmentally irresponsible Americans are).

    Owning a car makes more sense in the suburbs as most apartments come with a parking space or garage or there is often free on street parking anyway.

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