Paris Real Estate Prices Up 1% in March After a Slight Decline
Paris real estate prices went up 1% in March after several months slightly down according to MeilleursAgents.com. Prices are up in much of the area surrounding Paris as well.
Interestingly, the number of transactions is off by 30% over last year for the 1st quarter, so the price increases rest on relatively fewer property sales. Even so, prices are only 3% off the all time high achieved in July 2011. More than one quarter of likely buyers and sellers have indicated that they are waiting until after the presidential elections to see if prices will drop, but with interest rates declining, they may be disappointed.
The tight credit in France means that only the most qualified buyers can benefit from the declining interest rates and this has caused a two tier market where the best properties sell quickly to affluent, credit-worthy buyers while many less sought after properties sit on the market unsold. Read the full article in French.