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Paris nears €10,000 per m2 average as real estate prices climb
Average asking prices in Paris are set to breach €10,000 per m2 soon according to the latest data. Growth is continuing albeit at a slower pace.
The latest figures from price observatory website Seloger show a slowing in the capital’s price growth. Growth in the quarter to January was just 0.5% while the yearly figures showed 7.5% appreciation. That slowing is not stopping observers predicting that we will soon see a five-figure average asking price for the first time in history. Figures are always net-to-seller proces and do not include any agency fees.
Prices at the end of January were €9,759 according to the LPI-SeLoger barometer, which measures growth across all 20 arrondissements. Thirteen are now above the €9,000 per m2 level which was passed late in summer last year.
The 1st, 6th and 18th arrondissements are pushing the city’s average growth rate up significantly, each of them seeing double-digit growth over the last 12 months. The 18th is a rapidly gentrifying part of the city, with areas like Montmartre attracting an influx of professionals and millenials. It’s also one of the cheapest parts of the city, along with the 13th, 19th and 20th, other arrondissements earmarked for future growth potential. The abolition of rent caps has likely helped fuel price growth.
image © Paul Dufour