According to the indicators communicated by the notaries of Greater Paris, the Parisian real estate figures show a clear decline and a slowdown in the rise in the prices of apartments in Île-de-France, in part because of the health crisis of the Covid- 19.
The price of apartments fell 0.8% from July to September, and up to 1.2% in inner Paris.
In Paris and its suburbs, the price of real estate is no longer soaring.
Indirect effect of the Covid-19 health crisis, apartment prices in the Paris region are falling again for the first time in nearly ten years, according to advanced indicators from the notaries of Greater Paris.
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-1.2% in intra-muros Paris
In general, the price of old apartments fell by 0.8% in Île-de-France from July to September 2020. A drop in sales promises, unprecedented since 2012, which should materialize from October 2020 to January 2021, when the final deed of sale is signed.
This drop is a little more marked in intramural Paris, with -1.2%, which means that the price per square meter in the capital will not reach 11,000 euros, but will turn more around 10,700 euros.
Figures for Ile-de-France real estate at the end of September 2020 by the #Notaires du #GrandParis.
A sharp decline in activity and a slowdown in the rise in apartment prices.
SEE THE #PRESS RELEASEhttps: //t.co/63sd8oahWypic.twitter.com/M7vl2K10l9
- Notaries of Greater Paris (@GdParisNotaires) November 26, 2020
Longer sales deadlines, tighter negotiations
How to explain it?
According to the notaries, this phenomenon is the consequence of the first confinement.
Indeed, during this period, the sales deadlines were lengthened, which allowed tighter negotiations.
However, this only concerns the apartments.
As for houses, prices are on the rise in Île-de-France with + 9.5% over the year in the inner suburbs, according to the estimates of notaries.
The demand for houses is indeed stronger since last spring.