Rising prices in Paris
Rising prices in Paris
The French capital could actually experience a 10% increase. In spite of the economic crisis, older properties prices have risen by 2.5% in the region of Paris in comparison with the last quarter of 2009. According to the Chamber of Notaries, this strong increase could be an early warning sign of another sharp rise in real estate, confirming once more that real estate prices are growing faster than the average income.
According to Mr Delasalle, chairman of the commission on real estate condition, it is currently easier to find a buyer than a tenant, and Paris itself expects an important rise beyond 10%.
The average price of older apartments in the region of Paris (4,550 per sqm in the first quarter of 2010) has come close to the 2008 record (4,730 per sqm). The rise is even stronger in Paris itself (3.2%) where the first quarter's price (6,430 per sqm) is very close to the peak of the summer of 2008 (6,620 per sqm). As for houses, in spite of a 2.13% increase, the average price (280,400) remains far lower than in 2008 (311,400).
This evolution in older properties prices echoes the one in new built properties: in the first quarter, the price of flats has risen by 6.8%, the price of individual houses by 1.8%. For Mr Delasalle, this Parisian phenomenon is slowly but surely spreading to the entire country.
For Mr Lefebvre, chairman of French notaries, the real estate sector is one of the few to stay afloat. The reason is that the demand is more important than the offer, and that bricks and mortar are still considered by the French as a safe place to invest. Discover France Regions with the Tour de France Easy travelling with Eurostar between UK and France Thailand Travel hotels Visit Cape Town, One Of The Most Popular International Tourists Destination Visiting Edinburgh In Festival Season Got Hopes Of Being The Next American Idol? Those staying in holiday villas 'may benefit from tactical timing' Dreadzone Tickets Available for Dreadzone UK Tour 2010 Holiday Gift Ideas That Are Simple & Sustainable How to Find a List of Celebrity Product Endorsers Bangsaen Beach : A True Thai Paradise Golden Triangle Tour with Kashmir Exploration The Power of Celebrity