Paris : rising property prices

The average price of residential property in Paris rose 2.6% in two months, to $ 6306 euros/m2 31 October against 6143 euros/m2 September 1, according to the latest barometer of the real estate broker MeilleursAgents.com published today.
This increase is explained rather by "changing the psychology of actors as a fundamental change in the housing market," says the broker.

In Octombrie, the property prices in Paris have fluctuated between 5093 euros/m2 (+1.4% over 3 months) in the 19th district and 10,010 euros/m2 (-0.6%) in the 6th arrondissement.

The high demand for studios and 2 rooms face a relatively low supply on the market that prices of small areas are growing strongly (+6% in 6 months) than those of supermarkets (1%). A good sign, the share of supermarkets, 3 rooms or more, rose over two months to 45% of total sales against 35% in 2008.

Even if the contract of purchase and resale seems "to unjam", the total volume of transactions is two months behind by 10% over the same period of 2008 and 25% compared to 2007. "We can speak volumes still relatively low, indicating that the recovery is still solid," said the broker.

The results of this barometer is based on the promise of sale signed by the 250 real estate partners MeilleursAgents.com