Sales are Up and Prices Remain Stable in Paris and the Ile-de-France

Sales are up and prices haven’t changed much, according to the figures published by the Chambre de Notaires just a few days ago. Activity is stronger and while prices are still on a slight downturn, the trend continues without acceleration or deceleration.

Within a year, the price of existing homes fell 1.6% in the Ile-de-France. In three months (January-April 2014 ), prices have generally stagnated in the Ile-de-France — changes are negligible even taking into account seasonal variations. The price of resale apartments fell by 1.2% in the Ile-de-France from April 2013 to April 2014 (5,400€/m² on the average in the region, 8,160 €/m2 in Paris).

Prices fell 1.8% in Paris and 1.9% in the Grande Couronne (outer suburbs). By contrast in the Petite Couronne (inner suburbs), apartment prices have recovered – even slightly exceeded – the level reached in April 2013 (+0.2% in the Val-de-Marne and +0.4% in Seine-Saint- Denis).

The price of resale houses continues to fall a little more substantially than apartments. The decline over the year (-2.4%) in the Ile-de-France, reached 3% in the Val-d’Oise and 3.2% in the Hauts-de-Seine. In the Ile-de-France, the average price of a house was 294,300€ in late April 2014 (343,700€ in the Petite Couronne and 273,500€ in the Grande Couronne). In Paris, the price per square meter of resale apartments amounted to 8,130€ at the end of April 2014 (-0.5% in three months).

More homes were sold this period 2014 than 2013 with 31,570 sales of existing homes concluded in the Ile-de-France from February to April 2014, 10% more than February to April 2013. The improvement in activity occurred at similar rates for apartments (+9%) as for homes (+11%), but the volume of sales still remains low and sales are particularly of small surfaces.

Sales volumes are up, likely due to the ‘promotion’ offered by the government to reduce capital gains taxes by 25% for properties sold prior to September 1, 2014. And in spite of the economic woes of France, prices remain relatively stable.

Advance statistics based on pre-sale agreements for apartments in Paris,  Hauts-de-Seine and for houses in Grande Couronne indicate that the evolution of prices in recent months is unlikely to change in the coming weeks.

See a detailed look at prices in Paris and the region by visiting: notaires.paris-idf.fr/outil/immobilier/prix-et-nombre-de-ventes-paris-idf
and notaires.paris-idf.fr/outil/immobilier/carte-des-prix?html

To perform a custom search on sales and price information, visit:
notaires.paris-idf.fr/outil/immobilier/immo-notaires-argus

For those of you who love statistics, download the historical data on prices and trends from the following PDF and Excel files:

HistoriquedesprixaumappartementsanciensParispararrdt.pdf
Historiquedesprixdesappartementspardep.pdf
Historiquedesprixdesmaisonspardep.pdf
IndicesdesprixappartementsAnciensParisParArrdt.pdf
IndicesdesprixappartementsAnciensParisParArrdt.xls
Indicesdesprixdesappartementspardept.pdf
Indicesdesprixdesappartementspardept.xls
Indicesdesprixdesmaisonspardept.pdf
Indicesdesprixdesmaisonspardept.xls

A bientôt,

Adrian Leeds

Editor, French Property Insider & Director of The Adrian Leeds Group, Inc

Email: [email protected]

 

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