In this blog, we like to keep on top of all the latest trends regarding Paris real estate prices.
The latest figures are here and once again, there is good news for property investors: Paris real estate prices are continuing to rise steadily.
Continued growth this quarter
Every three months, the Chambre des Notaires de Paris (Paris Chamber of Notaries) publish reports detailing property prices throughout France.
The latest reports show that Paris real estate prices rose 6.2% in the third quarter compared to the same time in 2017. This now places the average cost per square meter at 9,500 €. It’s another all-time high, and means that prices in Paris have increased 41.5% in the last ten years.
Half of the city’s 20 arrondissements (districts) now show average prices above 10,000 €/m2. Newcomers in this category are the 8th, 9th, and 16th districts.
All in all, the new reports are nothing but positive news for those investing. Paris real estate prices are rising steadily, and 2018 has certainly been a solid year.
Paris property prices, the highs and lows
Looking at all of the city’s districts, prices are now varying widely.
The most expensive district is Saint-Germain-des-Prés in the 6th, where prices now average 16,250 €/m². Take a look at this pied-à-terre currently for sale in the area.
Other top-priced areas include 15,120 €/m² in the Notre-Dame quarter of the 4th. Also the Saint Thomas d’Aquin quarter of the 7th , where prices have reached 15,660 €/m². Prices for fully renovated properties are higher, such as this investment property.
The highest-priced property peaked at 40,680 €/m². This was a 59 m² studio in the 16th district, near the Porte Dauphine. It is certainly something of an anomaly when looking at the figures as a whole.
On the flip side, the cheapest area remains the 19th arrondissement. Here the average is 7,800€ per m² for an area that is more affordable, but not as desirable.
Looking ahead to 2019
Looking ahead to next year, the notaries are suggesting further growth for real estate in Paris. Contracts underway give them an indication of where prices are heading. They expect prices to exceed 9,600 €/m² in January, and to rise by 7% in 2019.
Overall, the latest notary figures show that the Paris property market is super dynamic, and remains buoyant as we head towards the new year.
Your own Paris property investment
Whether it’s a permanent base in the capital, a rental investment or a pied-à-terre, 56Paris is here to help.
Our experts are on hand to offer free, no-obligation advice on all aspects of the real estate market. With now being an optimal time to invest, make sure you get in contact soon.
Photo: Jeanne Menjoulet