MARKETS STATS : real estate market in PARIS
|Splendid staircase in Marais mansion 75004|
This colum's aim is to give you a focus about real estate market in Paris, concerning prices, concerning their evolution and also an analysis about some specific districts
Thanks to low interest loan , 2016 has been a record year for transactions, with 850 000 deals in France, 2017 despite a political transition ( presidential Election in May ), presents very attractive perspectives
In Paris : 2016 has registered a raise of 4% in terms of number of transactions, while the prices were higher in the same proportion ( + 3.9% )
Across Paris, prices for properties vary according to the arrondissement (district).
The 3 first district quarters in term of high price ratio / Square meter are the 4th , the 6th and the 7 TH
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SEVEN arrondissements are currently priced at more than €10,000/m²: the 1st,2nd, 3rd, 4th, 5th, 6th and the 7th .
The average price for Paris being now at 8 500€
Remember though that these average figures are net of agency fees and that they don’t give the complete picture. Buyers often pay well in excess of the average per meter figures for quality properties in Paris in any given arrondissement.
The market confirms its stabilization in term of prices and Paris as the 5th expensive city, in the world is offering a great potential investment without housing bubble risk
I would like to focus about the Marais quarter’s price : in 1991 average price was : 4 160€/square meter, today it’s 11 380 € ! In 26 years, it gained almost twice it’s value !
We understand better the notion of « SAFE INVESTMENT »
Car Parks prices
Car parks have remained unaffected by strong growth in housing prices, but this does not prevent persistent tensions in certain quarters of the capital, where prices are very diversified.
the increase in the price of car parks in the Ile-de-France region has been steady and less onerous than for other properties, with no sudden acceleration or decline.
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Globally, during the period of high inflation between 1998 and 2007, the price increase was limited to 40% for car parks, whereas it was 142% for properties.
Then, the car parks escaped the fall in prices observed for housing in 2008/2009. Finally, the rapid rise in house prices between 2009 and 2012 and the slight declines observed since 2012 have not been observed for car parks. Their price has remained stable since 2007 before rising slightly in 2015, which was confirmed in 2016.
In Paris, car parks and housing are disconected : Parking prices continued to rise until 1993 (compared with 1991 for apartments) before falling until 2001.
Their value has grown modestly but steadily since. Prices for apartments have risen since 1998 and have hardly changed over the last five years.
In the end, in 25 years in Paris, the prices of the apartments increased by 133%. Car parks grew by only 26% at a rate below cumulative inflation of around 39%.
The different Parisian quarters present very different price levels and have undergone sometimes divergent developments.
In the first half of 2016, the median price of a parking space in Paris stands at € 25,000. 4 districts have their price exceeding 40 000 €, the 4th, 7th, 8th and 16th. The 16th district remained one of the quarters where car park prices were the most expensive, while the rise in apartment prices was much lower than elsewhere in the Capital from 1991 to 2016. The pressure of need is strong, explained by a shortage of car parks compared to the number of households with vehicles *.
At the other end of the price range, 4 districts (the 13th, 18th, 19th and 20th centuries) present a median price of a parking space of less than € 20,000. The last three offer the most affordable residential property prices in the Capital. A developed HLM park, offering car parks for rent, also limits tensions in these areas.
Source : Notary statisticDon't forget to subscribe to our NEWSLETTER
Very nice historical references and market information.ReplyDelete
Keep up the good work!