EUROPE
PARIS
Daniel Feau Conseil Immobilier, the Paris affiliate of Christie’s International Real Estate, reports that the housing market in the French capital has found its floor, with the average price per square meter having fallen approximately 13% below its 2022 peak.
“The consensus is that after this clear drop in prices, the current level reflects the new balance between buyers and sellers, and the number of sales for the middle market is now recovering,” says Charles-Marie Jottras, broker-owner of the agency.
However, luxury homebuyers with designs on finding a bargain are far less likely to succeed. That’s because Paris’ high-end market remains stalwart. “Luxury assets and exceptional properties are, as always, keenly sought after in the capital, and for sales over €4 million, the average price per square meter has even increased 3% over the past two years despite sharply higher interest rates,” says Jottras. This is not surprising given the perpetually limited nature of luxury homes for sale in Paris. “Paris is a scarcity market, especially in the upper bracket,” Jottras adds. “Wealthy French buyers remain in competition with international investors, notably U.S. citizens, for limited inventory.” The most desirable properties are apartments and townhomes in move-in condition, which, on the much-coveted Left Bank, can sell for €40,000 per square meter and up. Jottras’ firm recently sold two such properties in Saint-Germain-de- Près for €18 million and €20 million, respectively. One buyer was an American. “In 2025 we predict this sellers’ market will continue,” Jottras says.
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