Those with their finger on the Parisian property pulse predict a continued cooling of prices in the French capital
“Light downward pressure” will continue to be felt on property prices in the Ile-de-France region (essentially Greater Paris), according to the latest report from the Notaires Paris Ile de France, with a predicted 2.1% year-on-year decrease in values overall. In Paris, there has been no discernible change since May: The current price is stagnating at €8,130/m2; a decrease of 0.2% over 3 months and 1.2% over a year.
But according to advance indicators – the pre-sales contracts – the wise Notaires predict “a slight decrease in values in Paris over the coming months”. Conversely, apartments in the Hauts-de-Seine department (the wealthiest of the three departments surrounding Paris collectively known as la Petite Couronne/the little crown) as well as houses in the Grande Gouronne (the ring of departments further out from central Paris) are due to increase in value.
With regard to sales, the study says that in the region as a whole, there has been a 1% decrease in average sale prices over the period from March to May 2014. It regards this as a “stable amount compared to the same period one year ago. The re-animation of activity observed in February 2014 that came in before the rise in registration taxes having not been part of this analysis.”