Paris Apartment Prices Growing in Every Arrondissement: new Record Price/m2
Recent figures from market observatory Seloger show Paris apartment prices growing in every arrondissement, something not often seen in the capital’s property market.
All 20 of Paris’ arrondissements have seen price growth over the last 12 months, according to Seloger’s June stats. Even when the market is at a peak this is rarely the case as some central arrondissements often see a temporary fall because they are made up of fewer, higher-value transactions. Not the case this time round.
By June the city now boasts an average price/m2 of €8,930 for existing apartments, an obliteration of the previous record and two-and-a-half times the national average (€3,798/m2). Particularly fast movers over 12 months include the 4th (10.3%), 17th (9.3%), 18th (8.4%) and 10th arrondissements (8.3%). The highest Paris apartment prices can now be found in the 6th, 7th and 4th arrondissements.
See the full table below.
|Arrondissement||Price/m2 (€)||Year growth||Arrondissement||Price/m2 (€)||Year growth|
The period is interesting because rarely is there a point where all 20 arrondissements are growing. Seloger did report in January that all arrondissements showed price growth over 12 months, but that press release lacked the arrondissement-by-arrondissement figures available this time round. Figures might have been either unimpressive or unreliable.
And the Paris Notaire price maps of the city rarely show growth across the board, even when the market is at a high. Their most recent figures, covering the first quarter of this year, showed falls in the 7th arrondissement even with the city seeing record-breaking transactions and price growth. The map from that report is below.
One caveat is that the figures from the Notaires and Seloger tend to diverge quite significantly. The Notaires compile figures from sales once they are finalized with an acte de vente, whereas Seloger collects market data using agreed prices at a compromis de vente, after which sales can fall through.
Regardless of any errors or unreliable figures within Seloger’s data, it is clear that the early 2017 and post-election period is seeing a flurry of activity and never-before-seen price growth. The Notaires recorded 5.5% yearly growth in Paris apartment prices by April 1, while Seloger has noted a 6% figure as of June.
Others have claimed the price growth in the capital is 7.7%. The most recent figures, this time from Century21, show the average price/m2 in Paris at €8,942, with a prediction of over €9,000 by the end of June! Confirmation from one of the larger market observatories or the Paris Notaire will come in the next few weeks.
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