A sign of the times, Parisian property prices are trending downward, while they are increasing everywhere else in the rest of the country. The various confinements got the better of the patience of the Parisians.
Eager to find larger living spaces, Parisians looked for more spacious houses or apartments in the first quarter. According to a PriceHubble study which analyzed 90,000 real estate ads, Parisian real estate prices fell by 2% compared to last year. Only two arrondissements show an increase, the 8th and 18th, with increases of 0.7% and 1.4% respectively. At the other end of the spectrum, the 13th, 19th and 6th posted the largest declines, ranging between 3.9% and 4.6%. Parisians have particularly turned to the suburbs and medium-sized towns of the Île-de-France region.
In Seine-Saint-Denis and Seine-et-Marne, prices have climbed by 8%. Real estate increased by 4% in Val-de-Marne and by 5% in Hauts-de-Seine. But the region is not the only one to benefit from this craze of Parisians for larger housing. In fact, it is the whole of France – with the exception of Paris – that is seeing its real estate prices increase. According to the Laforêt network, house prices rose 4.2%, apartment prices 3.3%. The most popular cities are Rennes (+ 9%), Nantes (+ 6.5%) or even Lorient (+ 6%).
Loss of momentum in rental investment
However, Paris should not be buried too early. Real estate prices have not collapsed there despite the restrictive measures and the closure of non-essential stores and all cultural life. PriceHubble reports that while fewer buyers are looking for family apartments, and despite “ loss of momentum in rental investment », The sellers are still present on the market with an offer which returns to the level before the crisis. It is therefore possible that property prices will pick up again if the country manages to reopen.