(1888PressRelease)
May 08, 2008 - The Paris Notary Chamber published its market report for 2007 and confirmed solid market figures.
The official average price for unoccupied old apartments in Paris rose by 2.7% between the 3rd and 4th quarter 2007 and by an impressing 10.5% in comparison with the 4th quarter 2006. The average price per square meter in “Paris Intramuros” reached 6,360 €/ US$ 10,145.3 during the 4th quarter 2007. In total 36,807 properties were sold in 2007.
In 2007, the most expensive arrondissement once again was the 6th around “Saint Germain- des- Prés” and the “Luxembourg Garden”, where an average square meter cost €9.790/ US$ 15,616.70. It was followed by the 7th which is located on the southern bank between the “Musée d’Orsay” and the “Eiffel tower”. Here the notaries registered an increase of 12.9% p.a. and an average price of € 9,260/ US$ 14,771.3.
The ranking of the most affordable districts hasn’t changed. The least expensive remains the 19th district around “la Villette” in the north- east of the city where the average square meter cost € 5,050/ US$ 8055.61, followed by the adjacent 20th with € 5,340./US$ 8518.21
Since January 2007, however, the market appears to be slowing down. The Paris Notary Chamber reported that the prices for houses fell by 1.3% between November 2007 and January 2008 in the Paris region whereas the prices for apartments rose by only 1.6% in the same period.
On 17 April 2008, the “KHS Paris Market Report 2008” was presented at the American Chamber of Commerce “AmCham”. It was based on the official numbers of the “Paris Notary Chamber” and you will find a summary of the conference on the “KHS English reception page”: ( please scroll down to ‘A.NEWS- MARKET REPORT’) http://www.khs.fr/index2.cfm?langue=EN
