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Paris home values 'up 18% in 2010'

15th March 2011 | back to article listings BACK    print this article PRINT

Residential property values in Paris increased by almost 18% in 2010 after a 4% decline a year earlier, the Paris Chamber of Notaries has revealed.

Those considering investing in UK property might be interested to discover that based on prices per square metre, London enjoyed a 1% increase during the same period.

"All that happened was a small dip" after the financial crisis hit, said Kerstin Bachmann, a partner at Paris Property Group, which handled 25 deals last year worth 40 million euro (35 million). "Paris proved itself even more as a safe and sustainable investment option," she added.

Bloomberg reports that French investors are putting more money into Paris real estate, shunning stock and bond markets, at a time when fewer owners are selling properties and not enough homes are being built to meet demand.

Subsequently, the Paris Chamber of Notaries revealed that transactions in 2010 were 9% below the average for the past decade. Paris property prices have risen 40% since 2005, while French property values nationwide hardly changed in the same period, according to the national residential real estate brokers' lobby, FNAIM.

Copyright Press Association 2011

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