The fall in prices has finally started in the capital. According to Meilleurs Agents, which has just published its latest national barometer on real estate prices, apartment prices fell in November by 0.7% over one month in Paris, something not seen since 2009! The price per square meter, which has lost 5.6% in one year, is trading on average at 9,733 euros as of November 1. “The drop in prices that has been underway for several months throughout France continues, Best Agents analysis. This adjustment of prices to new market conditions even tends to accelerate in certain municipalities, notably in Paris. So which are the neighborhoods where prices have fallen the most in recent months? To find out, Capital invites you to discover the prices of apartments by district in November 2023 as well as the evolution of prices over one month, three months and one year.
And in some neighborhoods, the price drops are spectacular. In the 13th arrondissement, for example, prices have fallen by an average of 3% over the last three months, to reach 8,634 euros per square meter. Prices also fell significantly in the 10th arrondissement (-3% over three months), in the 19th (-3%) and in the 20th (-2.8%). Note that out of the 20 districts in the capital, 19 have seen their prices fall over the last three months. Only the 1st arrondissement, located in the heart of Paris, has escaped this drop in prices with prices which have increased slightly (+1% over the last three months).
Falling prices in Ile-de-France
This widespread drop in prices in the capital is mainly explained by the difficulties in accessing household credit, linked to the recent rise in rates. “Rates are not expected to fall anytime soon and the income of project leaders will not grow quickly, anticipates Best Agents. Everything suggests that prices should continue on this downward trend at least until next spring..
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For a time spared from Parisian influence at the end of the health crisis, Île-de-France found itself dragged by the downward dynamics of the capital. In the inner suburbs, it is unsurprisingly the most expensive departments which recorded the greatest decline. Thus, Hauts-de-Seine saw the price of apartments fall by -4.7% in the space of one year (6,897 euros per square meter). As for Val-de-Marne and Seine-Saint-Denis, they respectively decreased by -3.4% (5,387 euros per square meter) and -2.6% (4,336 euros per square meter).
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