The 6th arrondissement around “Saint Germain- des- Prés” and the “Luxembourg Garden” is once again Paris’ most expensive real estate location. Following the crisis, prices fell and an average square meter, that cost €10,040 during the 4th quarter 2008, stood at €9,380 during the 3rd quarter 2009.
Paris, France -- (SBWIRE) -- 12/14/2009 -- By KHS, Paris http://www.khs.fr/
The Paris Notary Chamber released its real estate market report for the 3rd quarter 2009 in a press conference on 26 November. According to the notaries, the average square meter price for old and unoccupied apartments cost € 6,160 in the City of Paris. It decreased by 7.2% over the year but was 1.4% higher than during the 2nd quarter 2009.
According to the notaries, prices on the Paris residential real estate market increased strongly since 1998 and peaked during the 4th quarter 2008 with an average price of € 6,520 per square meter. In early 2009 they started to decline and fell by 1% in the first and by 7,8 % in the second quarter.
The 7th arrondissement which stretches along the southern river bank and includes the prestigious “Musée d’Orsay”, the “Invalides” and the Eiffel tower is the second most expensive district of the French Capital. An average square meter here cost € 8,990 during the 3rd quarter 2009 after € 9,610 by the end of 2008.
The "Marais" area on the northern river bank is very popular among the younger generation and foreigners. The average price in its southern part, the 4th arrondissement which also includes the romantic “Saint Louis Island” fell only moderately from € 8,860 during the 4th quarter 2008 to € 8,680 during the 3rd quarter 2009.
The 19th and 20th arrondissements in the north east around "La Villette" are yet again the most affordable districts of Paris. An average square meter here stood at € 4,890 and € 5,110 during the 3rd quarter 2009.
You will find the official average prices of all Paris districts here:
http://www.khs.fr/parisArchivePrix.cfm