Update – Paris Real Estate Prices

One of the features that I post my readers on is the current state of Paris real estate prices.  Since my last update in Spring of 2009, a lot has obviously happened with the global economy, and I often get asked how the Paris real estate market has fared in comparison to the US market during these tough economic times.  The short answer is that Paris prices took a hit in the 1st quarter of 2009, accompanied by a dramatic reduction in sales volume.  However, since then, prices and volume have been steadily increasing, with prices per square meter now approaching once again the peak values found in the 2nd quarter of 2008.

The Paris notaires have just recently released their quarterly summary for the 1st Quarter, 2010, and with the exception of the most expensive neighborhoods (the 4th, 6th and 7th arrondissements), all areas within the metropolitan Paris region showed a continuing rise in values.  Take a look below.

Based on my experience so far this year researching and seeking out qualified properties for my next fractional project, I can tell you briefly that the inventory of good quality apartments still remains in very short supply, and that prices for such properties are averaging well above 10,000€ per square meter for even those properties with unremarkable locations or physical characteristics.  So it will be interesting to see what the next report will indicate when it comes out in late August, 2010.

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