France

Paris property prices rocket

D.R.

Property prices in Paris and the surrounding area increased by 22.5 per cent over the last year, according to new figures published on Thursday.

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A study of Paris and its suburbs compiled by notaries, who are responsible for property conveyancing in France, shows the biggest increase in prices for 20 years.

The average price per square metre in the capital is now 8150 euros.

The cheapest district is the racially and socially mixed 19th arrondissement on the northeastern edge of Paris at 6 350 euros per square metre.

The 6th arrondissement, site of the Jardin de Luxembourg, and the shops of St. Germain des Prés, still associated with France's left-wing intellectuals, is now ironically the capital's most expensive area. Expect to pay 11 690 euros per square metre if you want to buy there.

It costs over 10 000 euros per square metre in nearly all of central Paris (Ist, 4th, 5th, 6th, 7th and 8th arrondissements.) Two central districts, the 2nd and 3rd arrondissements, are less pricey. 

Experts say that prices will now stabilise after a springtime peak in sales.

RFI/Anthony Terrade

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