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Strong market figures for Paris residential real estate in 2007 Digg this page for free send this page to a friend Add to your del.icio.us account

by KHS Paris http://www.khs.fr/

The consequences of the US subprime crisis on the European banking sector were serious but there was no negative impact on the Paris real estate market until the end of 2007.
The Paris Notary Chamber published its market report for 2007 and confirmed solid market figures.
The official average price for apartments in Paris rose by an impressing 10.5% in comparison with the 4th quarter 2006. The average price per square meter in “Paris Intramuros” reached 6,360 €/ US$ 10,145.3 during the 4th quarter 2007. Altogether 36,807 properties were sold in 2007.
In 2007, the most expensive arrondissement once again was the 6th around “Saint Germain- des- Prés” and the “Luxembourg Garden”, where an average square meter cost €9.790/ US$ 15,616.70.
It was followed by the 7th which is located on the southern bank between the “Musée d’Orsay” and the “Eiffel tower”. Here the notaries registered an increase of 12.9% p.a. and an average price of € 9,260/ US$ 14,771.3.
The ranking of the most affordable districts hasn’t changed. The least expensive remains the 19th district around “la Villette” in the north- east of the city where the average square meter cost € 5,050/ US$ 8055.61, followed by the adjacent 20th with € 5,340./US$ 8518.21
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