MARKET TRENDS: Helpful resources and market expertise
Paris Real Estate News:
Prices for existing "ancien" apartments in Paris rose 8.4% in 2007
While real estate prices in Paris in third quarter of 2007 grew less than expected, prices for apartments in older – ancien - buildings in Paris rose 8.4% in the last 12 months. Paris property had one of the strongest growth performances in all of France, surpassed only by the northern French city of Lille, which saw an average rise of 8.7% in prices for ancien apartments.
As of the end of December 2007, the average price per square meter in Paris was €7,451 (about $1050 USD per square foot), a new record high for the French capital. Property sellers in some of the city’s central but traditionally less expensive neighborhoods benefitted from high demand, with the 18th arrondissement up 8.7%, the 17th arrondissement up 9.1% and the 10th arrondissement up 10%.
Traditionally middle and working class Paris districts saw only seen a modest rise, a sharp slowdown from their tremendous price growth in recent years. For example, the 13th arrondissement was up a mere 3% and the 14th climbed only 5.8%. In fact, the last quarter of 2007 saw a decline in seven out of the twenty arrondissements in Paris, most notably the 7th arrondissement with a slight decline of 1.4% and the 9th arrondissement down 1.8%.
Sales of Ancien Apartments in Paris, France
2007 price per square meter by arrondissement in Paris
Paris District |
Price per m² (€) |
Price per m² (€) |
One-month |
Annual % change |
1st arrondissement |
9,727.31 €/m² |
9,531.98 €/m² |
+ |
12.1% |
2nd arrondissement |
8,038.59 €/m² |
7,947.94 €/m² |
+ |
11.6% |
3rd arrondissement |
8,461.44 €/m² |
8,309.63 €/m² |
+ |
8.5% |
4th arrondissement |
9,440.61 €/m² |
9,495.24 €/m² |
= |
16.4% |
5th arrondissement |
9,463.52 €/m² |
9,271.44 €/m² |
+ |
10.6% |
6th arrondissement |
11,211.08 €/m² |
10,980.56 €/m² |
+ |
7.2% |
7th arrondissement |
10,961.73 €/m² |
11,020.43 €/m² |
- |
11.7% |
8th arrondissement |
10,221.22 €/m² |
10,176.83 €/m² |
+ |
17.4% |
9th arrondissement |
7,159.41 €/m² |
7,214.68 €/m² |
- |
8.6% |
10th arrondissement |
6,402.31 €/m² |
6,400.27 €/m² |
= |
8.9% |
11th arrondissement |
7,032.99 €/m² |
7,004.90 €/m² |
= |
10.0% |
12th arrondissement |
6,804.16 €/m² |
6,804.20 €/m² |
= |
6.4% |
13th arrondissement |
6,599.60 €/m² |
6,520.32 €/m² |
+ |
3.0% |
14th arrondissement |
7,456.07 €/m² |
7,339.60 €/m² |
+ |
5.8% |
15th arrondissement |
7,562.74 €/m² |
7,574.74 €/m² |
= |
8.7% |
16th arrondissement |
8,774.30 €/m² |
8,801.80 €/m² |
- |
12.8% |
17th arrondissement |
7,358.87 €/m² |
7,324.20 €/m² |
+ |
9.1% |
18th arrondissement |
6,401.36 €/m² |
6,362.10 €/m² |
+ |
8.7% |
19th arrondissement |
5,577.45 €/m² |
5,534.52 €/m² |
+ |
5.7% |
20th arrondissement |
5,991.55 €/m² |
6,001.99 €/m² |
= |
7.3% |
PARIS-WIDE |
7,451.12 €/m² |
7,407.45 €/m² |
+ |
8.4% |
Source: SELOGER.com December 2007
Facts and figures from the Chambre des Notaires de Paris
Average price per m2 and % change on one year – 2nd Quarter 2007
Average Appreciation by Arrondissement in Paris from 2000 – 2007
2nd Quarter State of the Market Report from the Association of Paris Notaires (French)
