Paris property prices hit all-time record & likely to rise even higher
Purchasing a place in the heart of the City of Light cost buyers 5.7 percent more in 2018 than a year before, according to the data released by the Chamber of Notaries of Greater Paris. Those who wanted to live in the city center had to spend €9,750 ($11,100) on the average per meter. As such, a small one bedroom apartment could be sold for more than $444,000.
More than $11,000 per meter is hardly the most expensive offering, as the price in Paris’s Odeon Area was €17,410 ($19,800), having risen 28.3 percent.Also on rt.com Brexit exit? Paris flat reportedly sold for record $44 million to mysterious British tycoon
Apartment prices in the capital’s suburbs are nearly 40 percent lower than in the city center, but they still saw a 4.5 percent growth in one year. The average price per meter in the Ile-de-France region is €5,970 ($6,800).
However, the volume of property sales fell 5 percent from 2017 numbers, when the city saw strong growth.
Last year’s record is expected to be beaten in 2019 as the Chamber of Notaries predicted a further price rise in the coming months.
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