Apartment prices rocket in Paris
Figures published on Thursday showed apartment prices in the capital up by 5 percent in the second quarter and a full 22.5 percent over the last year, the highest annual rise for 20 years.
The figures, announced by the national statistics agency Insee, also showed that the volume of transactions was back to the level seen at the end of 2007.
Taken as a whole, prices in France moved up by a more sedate 1 percent, a slight slowdown on the 1.8 percent increase recorded in the first quarter. Year-on-year, prices are up overall by 7.7 percent.
After a summer of economic gloom, there are signs that the increase may not continue much longer.
"The economic context has seriously worsened this summer and today the market is holding its breath," said Christian Lefebvre, president of the chamber of notaries, to newspaper 20 Minutes.
Website MeilleursAgents.com, which collects data on house sales, announced earlier this week that it had seen Paris prices fall in the last two months by 3 percent accompanied by a drop in the number of transactions.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.