Paris Real Estate Prices: Official Paris Notaires Market Update 2nd Q 2012
Sales of Existing (Ancien) Apartments
According to the most recent sales data available, from May to July 2012, 36,000 apartments were sold in Ile de France, marking a 21 to 22% decline compared to transactions concluded in the same time period in the two previous years.
The reduced volume was similar for sales in Ile de France in general: 23% down for single-family homes and -20% for apartments throughout the region. In departments around Ile de France, volume was down but the decrease smaller in Essonne (-13%) and Hauts de Seine (-9%).
Sale Prices of New Apartments
In July 2012, sale prices remained stable despite the considerable decline in sales, with little change in comparison to April 2012, or a year earlier in July 2011.
In the capital, the sale price per meter squared stabilized at an average of 8,410 € in July 2012 (+.2% over 3 months).
According to the latest price predictions by the Paris Notaires Association (based on properties currently under contract), sale prices in Paris should see a slight increase over the next two months and then a slight decline, with an average of 8,580 €/m2 at the end of September and 8,550 €/m2 at the end of October. Current figures indicate that stable sale prices should continue in the coming months.