Spring 2017 has shown record-breaking numbers for the Paris real estate market, due to continued low interest rates and increased municipal investment in transportation and infrastructure.
With the release of the current quarterly summary of the Paris real estate market sales figures,The Notaires de Paris advise that total sales from March, April, and May in the Île-de-France region were the highest since 1996.
The current numbers shows a total of 46,250 existing properties, including houses and apartments, were purchased and sold in Île-de-France. Even though there is a 4.5% decrease in the number sold in Paris proper from the start of the year, the real estate market’s numbers remain strong, recording a 32% increase from last year’s figures. In addition, it is 45% higher than the last decade.
The existing prices for apartments in Île-de-France have demonstrated by the end of May €5,490, a 4.5% annual growth. In Paris, it has demonstrated a 5.5% annual growth. The numbers are expected to continue increasing by the end of the year.
Petite Couronne, the inner ring of the Paris suburbs, as well as Grand Couronne combined for 36,260 sales to the total. The number of transaction in the suburbs are increasing dramatically, possibly due to the expansion of transportation links through the Grand Paris project, a €26 billion investment.
According to 56 Paris Real Estate, these domestic and international investments will create new property to the west of La Défense due to transportation links. Interestingly enough, « Americans have been the leading international investor over this period, accounting for $5.2 billion, so it is no surprise that more than 40% of the companies based in La Défense are American-owned. »
As real estate in Paris continues to demonstrate record values this year due to several renovations and expansions, it is evident that there is no better time to invest in your own Paris apartment.