Paris Real Estate Market Report - 2nd Qrtr 2020
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Paris property sales are down but prices are still climbing according to a recent report published last month by the Chambre de Notaires de Paris. The ongoing pandemic continues to weigh on the French real estate market but overall prices are up on last year, looking at 2,5% possible increase compared to 1,8% for the year 2019 before the pandemic started.
The report makes an interesting read and perhaps unsurprisingly shows price increases of 10% or more for older homes in Burgundy, Normandy and in southwest France. For Paris this figure is 5% which is slightly surprising as many families and professionals were escaping the capital city in favour of the countryside in spring at the end of the first ‘confinement’.
Moreover, the price per sqm for old apartments in Paris have increased by 8%, at an average of 10,690 euros mer square meter for the year up to october 2020. The annual increase is expected to be in the 6,6% range. We’ve written about Paris, living there and the property market previously, here’s a link to view all our Paris related articles on our French Blog which may provide additional information and inspiration.
To learn more about French property market trends, French property prices in the 2nd quarter of 2020, the effects of the coronavirus on real estate in France and in Paris, take a look at the French notaires property market report. We have a good choice for buyers looking property an real estate in Paris and surrounding departments of Ile de France. As we’ve pointed out, the value of Parisian real estate keeps increasing, so you must be sharp as properties sell fast (24/48 hrs).
If you are looking to purchase in Paris, register here, learn about our fx service or email us to learn about our Paris A la Carte service for busy professionals and investors looking for a one stop property service.
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