Real Estate Paris
May 9th, 2008by KHS Paris http://www.khs.fr/
The US subprime turmoil had serious consequences on the European banking sector but the crisis did not have any 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 unoccupied old apartments in Paris rose by 2.7% between the 3rd and 4th quarter 2007 and 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. In total 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.
