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Average price per square meter in Paris reaches new €11,000 record
According to data released earlier this month by LPI-SeLoger, Paris property prices now exceed €11,000/m² on average, despite significant price gaps from one arrondissement to another. Prices are still continuing to rise after five years of increase, despite a recent slowdown in pace.
Real estate prices in the capital have risen higher than ever, according to data from LPI/SeLoger’s latest study, covering the month of February. After five years of property price increases, which have skyrocketed by 31% since 2015 (€8,378/m²), the capital’s current average is now €11,014/m² exactly, a new record.
Although it might not be the most reassuring takeaway for future buyers, these “price increases are still slowing down,” remarks Michel Mouillart, study spokesman. Current prices have increased 5.4% over one year, against a 5.7% increase noted in the previous study, and a 5.8% increase confirmed in the one before that. In other words, prices are indeed continuing to rise, but at a slower pace.
Of course, not all arrondissements are in the same boat. Out of the twenty, eleven have already exceeded the €11,000 average.
– 7th: €13,991/m²
– 8th: €12,719/m²
– 6th: €13,477/m²
– 16th: €12,444/m²
– 4th : €12,226/m²
– 5th: €11,693/m²
– 3rd: €11,529/m²
– 17th: €11,386/m²
– 1st : €11,265/m²
– 2nd: €11,109/m²
– 9th: €11,026/m²
At the other end of the spectrum, the 19th averages €7,998/m². It is the only arrondissement with a price per square meter less than €8,000.
Note that the prices used in this study refer to the amount at the signing of the compromis de vente or pre-contract sales agreement (which usually results in a final purchase three months later). Paris notaries, who base their studies on prices from the final deed of sale, are expecting average prices around €10,560 in April. Further, listing agency fees of approximately 5% have been excluded, so that only the amount that went to the seller is shown.