The high-end Parisian real estate market is rocketing prices, with sales of up to 10,080 euros per square meter.
By Luxus Plus
Buoyed by unprecedented mortgage rates (1.12% on average excluding insurance and all loan durations combined in November, according to the Housing Credit Observatory / CSA), the volume of real estate transactions jumped 10.4% in France over a year, according to the Higher Notary Council, with 1.059 million sales in the former.
In the capital, this was less true, with a 1% year-on-year increase in sales in the third quarter of 2019. In question, the price level, which reached 10,080 euros per square meter on average at the end of September, according to notaries of Greater Paris.
For Nathalie Garcin, President of the Emile Garcin group, “the Parisian luxury real estate market is boosted by non-residents. Among them, many French people from London who buy in Paris. These wealthy customers buy with the prospect of a return, but they also act as an investor. They tell themselves that Paris is still 25% cheaper than London and that prices will increase ”she underlines.
“Over twelve months, the segment of sales of goods over 1 million euros represented around 4.5 billion, on a market of around 20 billion, calculates Charles-Marie Jottras, president of the Daniel Féau group. These goods represent around 3,000 sales in Paris, out of a total amount of 37,000 sales, or 8% of the market. Goods sold over 2 million represent less than 500 transactions. ”
One of the most expensive goods sold this year reached 39,000 euros per m², a top floor of around 300 m² luxuriously landscaped on the Passy hill, with a “breathtaking” view of the Seine.
