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Posted on 09/04/2021

Real estate : price in Paris, area by area

LE FIGARO

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Real estate : price in Paris, area by area
Paris real estate remains attractive, but investors and buyers must be wary of the area in which they set their sights, as they are not all in the same boat.

Firstly, we will look at the districts in the heart of Paris. These districts are always very sought after because they are steeped in history, in fact from the first to the fourth arrondissement sales do not fall back. Nevertheless, it is the profit that remains limited, as prices are very high but increase only slightly over time, which limits investment possibilities. However, these districts remain dynamic, small surfaces go quickly and at the right price, however when one tackles larger properties, sales are more complicated.

Around the centre, from the 5th to the 7th arrondissement, offers are more numerous and sales follow this curve. Buyers are more determined and will negotiate at least for properties with exceptional features or simply a clear and bright view. For example, a 24 m² two-room apartment on rue Monge sold for 345,000 euros. The 6th arrondissement is the most expensive district in the capital and is very attractive for its high-end properties. The 7th arrondissement is also aimed more at a young public, particularly families. There is not enough supply compared to demand.

The 13th to 15th arrondissements are experiencing greater difficulty with sales. There is still no difficulty in selling small areas, but larger properties take longer to sell and are subject to more negotiations. The coronavirus crisis has reached its quarters. For example, properties in the 13th arrondissement are seeing their prices drop. On the ninth floor of a tower, a two-room apartment of 36 m² was sold for 330,000 euros, a fairly low price for the Paris region.

The 9th to 12th arrondissements are experiencing a different phenomenon. Price growth is stabilising, interest is still present but buyers are more demanding. The coronavirus crisis has developed a desire to find a property without defects, and some people take more time before taking the plunge to buy. Negotiation is more and more present compared to previous years. Thus, in these neighbourhoods, although they are frequent, sales are taking longer.

This phenomenon is also represented in the 8th, 16th and 17th arrondissements. Indeed, the market is complex, and is slowed down by the absence of foreign clients. However, the French fortunes still manage to support the property market in these districts. Nevertheless, sales are slower, because here too, buyers take more time to find the rare pearl.

Finally, from the 18th to the 20th arrondissement, properties that are too expensive in relation to the state of the market are not being sold. There is a concern about the balance between the current market and the demands of sellers, which is causing a stagnation in prices but also in sales.

To read the full article, click here. 

Paris West Sotheby's International Realty, expert in luxury and prestige real estate in Paris

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