Since Paris and its crown experienced a record real estate boom in 2010 (+ 17.5% compared to 2009), it was thought that 2011 would go hand in hand with softened prices. And yet the scenario continues. Inventory of a market where prices remain high in Paris as in its small crown.
Real estate in the commune of Paris
The economic crisis and the decline in purchasing power are still being felt in real estate in the heart of the capital. Over one year, prices in all the boroughs increased from 13.5% (the 8th arrondissement) to 20.5% (the 13th arrondissement). Since December 1, 2010, prices have not changed. The increase continues, varying between 4 and 10% depending on the boroughs. Consequently, the average price per square meter of Parisian intramural apartments stands at 7,908 euros. It is the average between the lowest prices, those of the 19th arrondissement at 6,238 euros, at 12,781 euros, the square meter in old apartments in the capital's most expensive arrondissement: the 6th arrondissement.
Real estate in the small crown
La petite Couronne is the area grouping the three departments bordering the city of Paris: Hauts-de-Seine, Seine-Saint-Denis and Val-de-Marne. Larger homes and the craze for new housing have led sales in this area to increase by 89% last year, a development that benefits firstly in Hauts-de-Seine in front of Val-de-Marne and then Seine-Saint-Denis. In the municipalities of this small crown, prices differ depending on the proximity of transport, notably the metro. As an indication, in the Hauts-de-Seine, the average price of an apartment is 5,455 euros / m2 and the price of a house is 5,627 euros / m2. In Nogent sur Marne, prices range from 3,575 to 6,412 euros (the closer you get to the Bois de Vincennes, the more this figure increases), a range similar to that of Asnières where prices range from 3,433 to 6,704 euros. In the 93, in Saint Denis it takes between 2,077 to 3,642 euros, and between 2,483 to 4,829 euros per square meter in Montreuil. Note that among the municipalities of the inner suburbs to have recorded the most sales in 2010 we find Neuilly-sur-Seine, Boulogne-Billancourt, Montreuil, Courbevoie or even Saint-Maur-des-Fossés. Even in the inner suburbs, prices remain high, sometimes approaching Parisian intramural prices. Despite this observation, we do not lose hope since the end of spring should be accompanied by a rising interest rates and economic recovery. Price stabilization is therefore potentially close.