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Real Estate: Price Gaps Keep Growing Wider in the Capital

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The Editor

© Jagoda Bartus / Le Bonbon

Like every year, back-to-school season in the capital has meant a ruthless hunt for housing. And inevitably, given the prices, some neighborhoods have been more sought-after than others. A disparity that shows no signs of disappearing anytime soon, since the gap widens a little more each year.

For the past few months, sales have been thriving in the capital, with a 20% increase in the second quarter compared to last year. Great news for real estate agents, but less so for future buyers, since it's driving up the average price per square meter in the capital. So, according to projections, over the coming months, it should rise from €9,560 to €9,620. Don't worry though, this amount still represents a 0.8% drop in prices over the year. Still, in certain neighborhoods, we're hitting some pretty catastrophic peaks.


Two rooms…

We know it—from food to entertainment, through activities and housing, Paris is an expensive city. Very expensive. Especially when you're interested in a few particularly desirable neighborhoods

cis, where apartments reach completely crazy prices. So, unsurprisingly, in the area of the Golden Triangle, in the 8th arrondissement, but also on the Left Bank side (mainly the 5th, 6th and 7th arrondissements), we observe average prices around €14,000/m². In the Saint-Germain-des-Prés neighbourhood — the one whose prices have risen the most in five years (+21.5%), a phenomenon we explain to you right here — you can even find properties sold at over €17,000/m², that's more than twice the amount of the cheapest neighbourhood, coincidentally the one where prices have fallen the most over the same period (-23.8%).


… two vibes

Indeed, on the Goutte-d’Or side, in the 18th — which only has fortune in its name —, average prices hover around €6,550/m². Generally speaking, over the last five years, all neighborhoods in all districts of northeast Paris have experienced a general drop of between 5 and 23%, much to the delight of future buyers. With the exception of the left bank, the 13th shows fairly similar growth, particularly around the Salpêtrière hospital. Prices that skyrocket as you approach the border with the 5th. One thing's for sure though, if you're thinking of investing soon, you know whereto prioritize. Keep in mind that these are averages, and prices can vary depending on the street, the quality of the property, potential renovations…