In the 9th arrondissement of Paris, property prices are falling but remain high

Thursday 07th November 2024 03:09 AM

Reality is catching up with the real estate bubble. In the 9^th district of the capital, prices fell by 5.2% over one year. Or a price per m² of €10,030 in 9^th district, at 1^is November 2024, compared to €10,482 for an apartment and €12,879 for a house eight months earlier, in March 2024. Consequence: buyers are showing up again and activity is restarting in real estate agencies. “Sales at more than 13,000 euros per m² now only concern the most exceptional properties, observes Guilaine Gougnard, of the Lepic Study. No more crazy prices, the market has come to its senses ».

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The three information to remember about real estate prices in Paris 9th as of November 1, 2024

-5,2 % : evolution of apartment prices over one year.

10 030 €/m² : average selling price of an apartment.

33,8 €/m² : average rent for an apartment.

However, in the 9^th, “the flawless apartments on rue des Martyrs and adjacent streets continue to be sold at sustained prices”found Martin Maynial, of Daniel Féau IX^e which recently sold, rue Choron, a 4-room apartment of 96 m² for 1.45 million euros, or 15,104 euros per m². Main buyers currently present in the district: “A rather wealthy clientele who buy without suspensive conditions, in a context where the 9^th remains a shortage market”, note according to Marie Beauchet, of Barnes Martyrs. On the list of addresses, we find Rue des Martyrs, popular for its “village” atmosphere, Avenue Trudaine and the New Athens sector. “The most frequent request is for a 2 or 3 bedroom apartment, for young couples or clients looking for a pied-à-terre”observes Paul Modigliani of Properties Parisiennes Sotheby's International Realty who has just completed the sale, in New Athens, of a 100 m² with balcony for 1.35 million euros.

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