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World Paris: The prices of second-hand housing are starting to fall, after an increase in 2020

23:30  25 february  2021
23:30  25 february  2021 Source:   20minutes.fr

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The prices for second-hand housing in Paris have climbed but have started a slight decrease which could last this year

Un panneau © JACQUES DEMARTHON / AFP A panel " For sale "in Paris (illustrative image). ACCOMMODATION - The prices of second-hand housing in Paris have climbed but have started a slight decline which could last this year

A fall for how long? The prices of old housing in Paris climbed 5.4% over one year in the fourth quarter of 2020, with an average of 10,770 euros per square meter, but began a slight decline which could continue in 2021, according to the Chamber notaries.

In the capital, "prices took a break from the 3rd to the 4th quarter of 2020, going from 10,790 euros per m2 to 10,770 euros", according to the Chambre des notaires du Grand Paris.

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The decline "should continue in the coming months in Paris"

"After a historic record in November 2020 (10,850 euros per m2) followed by a decline, the downward trend in prices should continue in the coming months in Paris. The annual increase could be less than 1%, which has not happened since 2015, "the organization added in a statement.

"Today, the tension [on prices] is decreasing" but "when goods are at market price, sales are made without negotiation", commented during a press conference Thierry Delesalle , the chairman of the Chamber's real estate statistics committee.

"Braking, initiated in Paris, is taking shape and gradually spreading to the near periphery", according to the Chamber.

Overall, according to the notaries, many elements describe in Ile-de-France "a market which is resisting, given a particularly difficult economic, psychological and social context, but which is running out of steam and weakening".

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Four districts still below 10,000

Thus in Paris “prices, which increased by 8% per year in the 1st quarter of 2020, by 7.8% in the 2nd quarter and then by 7% in the 3rd quarter, were no longer 'up 5.4% annually in the 4th quarter of 2020,' according to the professional organization.

According to leading indicators on pre-contracts, in Paris, "the slightly downward movement would continue in early 2021 to leave a price per square meter expected at 10,600 euros in April 2021, down 0.4% in 3 months ". It would thus be almost identical (+ 0.8%) to the April 2020 value (10,520 euros per m2), according to the same source.

In the fourth quarter, prices per m2 range between 9,210 euros in the 19th arrondissement and 14,240 euros in the 6th, that is to say “1.55 times more expensive than the 19th” which is a “ratio historically low ”, according to the notaries.

In the 4th quarter of 2000, the most expensive district was five times more expensive than the most affordable district, recalls the Chambre des notaires.

Four arrondissements are still below 10,000 euros per m2 (12th, 13th, 14th and 20th), while four exceed 12,000 euros per m2 (Paris Center, 5th, 6th and 7th). The 6th arrondissement is the only one to exceed 14,000 euros per m2.

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