Paris is a city of dreams. Who did not want to settle here or at least come for a weekend and stay not at the hotel, but in his/ her own apartment. Why not to buy a flat in Paris? Many analysts say that now it is the time to acquire real estate in Paris.
Since 2011 the market has been falling steadily. The annual number of transactions decreased by about 100,000 per year. As a result, the real estate prices have fallen. Past year the cost of apartments in the Paris region lost 3.6 %. At the same time, experts do not advise to wait for further price drops. The market is coming back to life starting from the beginning of summer.
The prices fell for the new lats, as well as for resold apartments. Currently, the market offers a huge number of sales. On the one hand, these are apartments in the 18th century houses, the so-called Haussmann buildings, on the other hand, the “family” large apartments. At present, few buyers in the majority of cases buy for resale or rental.
What do we have in the end? On average, the price has fallen by 10% across France and for apartments in new buildings by 30%. It is believed that the number of apartments for sale will still increase, however, the demand will continue to exceed supply.
As for the average price per square meter, the most profitable deals are in areas 18,19,12. In the heart of Paris (Rue Rivoli, Place de Concorde, Champs Elysees, Opera, at the islands Cité and Saint -Louis) less than 20 trades were held, so the average cost per square meter could not be established. In general, the Paris prices have fallen over the last year. There was a slight increase only in the 14th district.
The important factor is when you buy a property you have lower interest rates on loans, today it’s less than 3% per year.
Thus, after the analysis of the market the majority of real estate professionals agree on the decision that the most favorable time to buy real estate in Paris and throughout France (especially advantageous to buy property in the regions) is from August to December 2013. It’s time to realize our dreams!