Paris apartment prices up 7.7% in the last year
October 03, 2017 - Paris
New figures show the price of property in the French capital have risen sharply over the last 12 months.
The average price of a square metre is now €8,942, a rise of 7.7 percent since last year according to Le Monde.
Meanwhile the average price of a square metre across the rest of the country has risen just 1.5 percent. The average price per metre square around the country is €2,532, far below the prices in Paris.
And in another contrast between Paris and the rest of France, apartment prices in the capital have shot up by 45 percent since 2009, compared to 9.5 percent in the rest of the country.
In less than 10 years the average price of property has gone up by 33 percent and since the year 2000 the value of apartments in Paris have tripled according to thelocal.fr.
Paris, with an average purchase price for an apartment of €446,982, has become an exclusive city, reserved for high earners (management and liberal professions), who now account for 46 percent of purchasers.
The election of Donald Trump, Britain’s decision to leave the EU and Emmanuel Macron’s election in France have apparently all played a role in boosting property prices in the French capital, according to Le Point.
What is clear, though, is that Paris’ property market shows no significant signs of slowing anytime soon, at a time when London is experiencing a marked slow in its own market with a third of homes seeing depreciation.
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