Paris apartment

Kazakh government official buys Paris apartment for 65 million euros

A Kazakh government official has snatched up a luxury high-security apartment in Paris for € 65million ($ 75.8million), making it one of the city’s most expensive residential deals this year, learned Mansion Global.

The multi-million dollar apartment is located on the ultra chic Avenue Montaigne in the Golden Triangle and a one-minute walk from the Champs-Élysées. He brokered an off-market deal brokered by Ignace Meuwissen, a Belgian trader whose Moscow-based real estate company represents sellers and buyers from Russia and the former Soviet states.

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The seller, the head of a Russian investment firm, had combined half a dozen apartments in the building, Meuwissen told Mansion Global. The combo apartment overlooks the historic Plaza Athénée, a celebrity-riddled hotel where rooms cost up to $ 20,000 a night.

The seller started buying the house just three months ago for 75 million euros ($ 87.5 million), Meuwissen added.

The 1,200-square-meter (12,900-square-foot) home features five bedrooms, five bathrooms, a spa, and a separate staff wing. But his selling point for the Kazakh administrator was his high-security equipment, including a 55-square-meter panic room, bullet-proof windows, and separate quarters for security personnel.

“This is a very unique apartment,” Meuwissen said, adding that it was unusual to find a French house with this level of protection.

The broker declined to name the seller and the buyer, describing them only as a Kazakh government official and a Russian investor. But he says the deal is the city’s most expensive residential deal so far this year, which Mansion Global couldn’t independently verify.

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Prime real estate in the City of Light has exploded over the past year. Luxury home prices have climbed 11.3% in the past 12 months, according to global real estate broker Knight Frank, who defines prime residential as the top 5% of the real estate market.

Preferential prices in the city now average around € 18,000 (US $ 21,000) per square meter, according to Knight Frank. This last agreement was three times higher.

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