“The Fall Continues: Real Estate Prices Drop 5% in Paris”

Real estate prices have fallen by 5% in one year in Paris. In seven arrondissements, the price per square meter has already fallen below the 10,000 euro mark. And the trend should continue in the coming months.

The price per square meter in Paris is currently at 10,082 euros on average, down 5% over one year, according to figures from Meilleurs Agents relayed by

The Parisian

. And the downward trend is expected to continue. Prices could therefore fall below the symbolic bar of 10,000 euros/m² this summer.

“Since the beginning of the century, this is the largest drop recorded after the one that followed the subprime crisis in 2008,

explains Thomas Lefebvre, scientific director at Meilleurs Agents.

And today, nothing suggests that this fall will stop. »

There are already seven arrondissements whose prices per square meter are less than 10,000 euros (10th, 12th, 13th, 14th, 18th, 19th and 20th centuries).

Price drop

Unfortunately for buyers, this fall in prices is far from offsetting the rise in interest rates, close to 4%.

“It would be necessary that the selling prices of housing fall by 20% so that buyers find themselves there. And of course, such a stall is not going to happen”

, warns the manager who takes the example of a 50 m² in Paris at 580,000 euros. To acquire such a property, a household must now earn 8,500 euros and stay there for 15 years to recoup the investment. In 2021, eight years was enough.

In Ile-de-France, the number of potential buyers is therefore falling. The latter benefit from a larger negotiation margin which pushes prices down. In 2020, one in two homes was sold at the advertised price compared to one in three today, notes the daily. Sales times in Paris have also lengthened. We went from 26 days in 2020 to 66 days in 2023.