Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
The symbolic 10,000€ average price per m² for apartments in Paris
The price per m² has been above 10,000€ for about three years and has been declining for less than two years
According to the Notaires-Insee in Paris, prices per m² exceeded the 10,000€ mark in September 2019, to reach a peak of 10,860€ in November 2020.
Since 2020, prices have begun to erode, despite a temporary recovery in the summer of 2021. The Covid era and the shift to telework have increased the desire of many to become homeowners and have given new advantages to the suburban areas around Paris, the Petite and Grande Couronne, where it is easier to find larger accommodations and houses, in a greener and less dense living environment.
On the other hand, in Paris, prices are now on a slightly downward trend but only moderately (between -1% and -2% over one year), and close to that observed from 2013 to 2015. Nevertheless, Paris tends to always maintain its attractiveness.
Compared to the peak of 10,860 € in November 2020, prices per m² fell back to 10,500€ in the month of April 2022, i.e. a cumulative drop of 3.3% in 17 months.
Sales over 10,000€ per m² have fallen in recent months but continue to account for more than 60% of all sales in Paris
The fall in prices matched a downward turn in the proportion of apartments sold at more than 10,000 € per m².
This second graph shows the share of sales of existing apartments in Paris at over 10,000 € per m² over the past 10 years.
This proportion exceeded 50% in May 2019 to peak in August 2020, with 73% of apartments selling for more than 10,000€ per m².
This share then fell slightly, despite a slight rebound in the summer of 2021. In April 2022, 63% of apartments were still sold at more than 10,000€ per m², i.e. the level of February 2020.
Contrary to what many sources may suggest, the sale prices of apartments in Paris are still largely above 10,000€ per m².
Apartments that sold for more than 10,000€ per m² represent more than 90% in the center of Paris and less than 50% in the 5 peripheral arrondissements of eastern Paris
This chart compares sales over 10,000€ per m² between Q3 2020 (when the share of sales over 10,000€ is highest) and Q1 2022.
Prices in the most expensive arrondissements in Paris are mostly above 10,000€ per m², regardless of the overall price drop.
From Paris Center to the 8th arrondissement, the share of sales at more than 10,000€ per m² exceeds 90%.
The slight drop in prices does not change this observation.
The 9th arrondissement is the only one in Paris to see the share of its sales at more than 10,000€ per m² increase (from 86% to 88% between the two periods).
In the 16th and 17th arrondissements, 82% and 79% of sales respectively are concluded at more than 10,000€ per m², with little change from the high point (87% and 80%).
At the other end, the share of sales over 10,000€ per m² is lower in the 13th, 18th and 12th (respectively 36%, 46%, 48%) and falls to 28% in the 19th and 30% in the 20th arrondissement , with a recent decrease for the latter.
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