The latest reports are out – how are Paris real estate prices trending?
Just published by the notaries, we can now take a look at the most up-to-date official prices from the first quarter of 2022. And the trends we expect to see over the next few months.
Real estate transactions up 18% year on year
First, some good news for property owners in Paris.
Over the first quarter of 2022, the notaries report 9,000 real estate transactions. That’s growth of 8% over the previous three months.
But looking at the bigger picture compared to the same period of 2021, it’s an 18% increase in properties sold – over 37,000 transactions in total.
This shows the market certainly remains dynamic and healthy, with the sale of apartments on the rise following two years of some uncertainty.
We can now say with conviction that Parisian real estate transaction volume has returned to pre-crisis levels.
Paris property prices slightly down – but stable
Property prices are showing a slight drop in this quarter, although reported by the notaries as “Paris prices have hardly changed.”
The actual figure is a drop of around 100€/m² from the previous quarter.
This small decrease suggests prices have stabilized, and now remain at 10,500€/m² averaged across the capital. That’s a dip of 1.2% year on year – a nominal decrease.
As one notary suggests, “We are on a plateau… but this break in real estate prices is welcome as it keeps buyers coming back.”
It’s another way we see the market is buoyant and continuing to move forward in 2022.
Paris real estate prices trending by district
Net prices per square meter fluctuate from 8,030€/m² to 17,400€/m² depending on the nature of the property of course – but also on the neighborhood in which it’s located.
The priciest areas are the Notre-Dame district in the 4th, followed by Saint-Germain-des-Prés in the 6th at 15,920€/m², and Saint Thomas d’Aquin in the 7th which averages 15,450€/m².
Ready-to-go, turnkey properties command much higher prices. For a property in one of these desirable districts, take a look at this Saint Thomas d'Aquin apartment.
This one-bedroom rue du Bac area property is on the first floor of a well-maintained 18th-century building. The Louvre, the Seine and the Musée d’Orsay are all just minutes away. This listing also includes a video tour of the property.
Predictions for the next quarter
The notary reports do make some predictions for the next few months of the year.
Based on preliminary contracts already signed, the flat trend will continue – with prices “continuing to oscillate around 10,500€/m² until July 2022.” Minor growth of 0.3% is foreseen for the second quarter of 2022.
The official reports also point to world events, including the current conflict in Ukraine, saying “While this has consequences in an economic content with inflation and rises in interest rates… it does confirm all the interest of owning real estate to have a property that one can occupy or rent and to protect capital.”
This is the ‘safe haven’ effect of owning property, which was also strengthened during the recent pandemic.
Paris real estate is a safer bet for investors when compared to other markets elsewhere in France and Europe.
Your own real estate investment
With Paris real estate prices trending and the market dynamic, now could be the perfect time to invest.
Don’t know where to start? We’re here to help.
We’re experts on all aspects of the local property market, so make sure you contact the team at 56Paris for free, no-obligation advice.