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Real Estate Market in Paris: Prices are Up!

Volume XIV, Issue 35

According to the Notaries of Paris/Ile-de-France in a report issued TODAY, real estate activity remained buoyant in second quarter 2016, in line with previous quarters. Once again, the fluidity of the market owes much to exceptionally attractive interest rates enjoyed by purchasers — under 2%. As throughout the region, some price pressures are now found in Paris, where prices, already at a high level should continue to increase slightly in the coming months.

* 8,100 euros per m² in Paris on average
 
In the capital after hovering around 8,000€/m² for the last six months of 2015, the average price increased 1.1% from 1st to 2nd quarter 2016, when it reached 8,100€ per m² (i.e. an increase of 2.6% in one year).
 
* 7 arrondissements above 10,000€/m²
 
While the average price per square meter in the capital is 8,100€/m², seven arrondissements saw their prices surpass the 10,000€/m² mark (the 1st, 3rd, 4th, 5th, 6th, 7th, and 8th), including three that exceeded the 11,000€/m²(4th, 6th and 7th arrondissements).  

It is increasingly common for properties to be sold at 20,000€/m²in the most expensive districts of the capital, especially in the 6th.

In second quarter 2016, the two most expensive properties sold in Paris reached 30,000€/m²

7 arrondissements above 10,000€/m² - Paris, France
 
* Two districts below the 7,000€/m²
 
Two of the least expensive districts of the capital are still experiencing prices below 7,000€/m²: the 19th at 6,650€/m²and the 20th at 6,830€€/m².

The price differential between the most expensive and the least expensive in Paris is 5,350€/m²
 
* Three districts beyond the annual price increase
 
Seventeen districts of the capital recorded price increases over the year (from +7.5% in the 3rd and 0.8% in the 19th). Only the 2nd, 10th and 16th arrondissements have seen their prices fall in second quarter 2016.

Three districts beyond the annual price increase - Paris, France
 
* The most expensive area: Saint-Germain-des-Prés at 14,460€/m²
 
The most expensive neighborhoods of Paris: Saint-Germain-des-Prés (6th), at 14,460€/m²; Saint Thomas Aquinas (7th) at 13,330€/m², Invalides (7th) at 12,520€/m², and the Champs Elysées (8th) at 12,290€/m².
 
* The least expensive area: Pont de Flandre to 6.140€/m²
 
All districts of Paris are now above 6,000€/m². The least expensive districts of Paris are Pont-de-Flandre (19th) at 6.140€/m², La Chapelle (18th) at 6,210€/m², Amerique (19th), at 6,340€/m², followed by La Goutte d’Or (18th), at 6,480€/m²  

The least expensive areas in Paris
 
* Nearly 3% annual rise in prices expected ending October 2016
 
According to the leading indicators of Notaries of Paris-Ile-de-France, the price reversal pattern would be confirmed in the coming months, with an expected price per square meter in Paris to 8,260€ in October 2016 (+ 2.9 % in one year). The maximum price reached in the capital was 8,460€/m² in mid-2012.  
 
* 9,000 existing homes sold in 3 months in Paris
 
The Parisian real estate market has confirmed its momentum in second quarter 2016 with 8,980 existing homes sold in the capital between April and June 2016, an increase of 13% year on year. So, Paris is catching up in terms of activity, but less rapidly than the rest of the Greater Paris Region.
 
* Nearly 9% of buyers in Paris are foreign nationals
 
The share of foreign buyers in the capital amounted to 8.6%. They are particularly present in the 4th district (25.1% of buyers), in the 8th district (15.4%) and the 13th (13.1%).

The most represented nationalities among the Parisian buyers are Italians and Chinese.
 
Download the entire report (in French).

A bientôt,

Adrian Leeds - Paris, France

Adrian Leeds
The Adrian Leeds Group

 

Respond to Adrian: [email protected]

 

 

 

 

New York by Erica Simone

TINY LIVING Magazine - Adrian Leeds Group Apartments, Le Petit Saint-Germain

P.S. I will be in New York City in September and am welcoming personal consultations September 21 through 24th on the subjects of working, living and investing in France for the special price of $330 for up to two hours (normally 330€. That’s a $42 savings.) If you are interested, please email me at [email protected].

P.P.S. If you like learning about Tiny Living, be sure to read my interview with Tiny Living Magazine, and subscribe!

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