Property prices in Paris have reached their highest ever levels, new figures show.
According to recently released data from the Chamber of Notaries of Greater Paris, purchase prices per square metre have been rising consistently across the capital since 2017, and have now reached record levels in many areas.
While there is a huge disparity in prices throughout the city’s suburbs, prices are fairly high throughout. In the heart of Paris, the average property costs approximately 9,750 euros per square metre – up 5.7 per cent in the last year.
The cheapest area to buy in the city centre is La Chapelle in the 18th arrondissement at 7,460 euros per square metre. Even this is still an increase of 11.3 per cent since last year, though.
Meanwhile, the most expensive area is Odeon in the 6th arrondissement. Average property prices there cost 17,410 euros per metre, a substantial rise of 28.3 percent in the last 12 months.
The average price for the Île-de-France (the region which encompasses Paris) as a whole is 5,970 euros per square metres.
According to the Chamber of Notaries of Greater Paris, the price escalation throughout the city is expected to continue this year.
The Notaries estimate that the symbolic bar of 10,000 euros per square metre on average in Paris will probably be reached as early as this summer.
Article published 4th March 2019