In the Paris region, real estate prices are collapsing. (illustration) (Sadnos / Pixabay)
Real estate prices continue to fall in the Ile-de-France region. Whether for houses or apartments, over the period February – April 2024, the year-on-year declines are close to 10% for some departments in the Ile-de-France region.
The fall in real estate prices continues in Ile-de-France. This Thursday, June 27, the Notaries of Greater Paris revealed their figures for the period February – April 2024, reports
Capital
. And the observation is clear: – 8% for apartments and – 8.4% for houses compared to the same period in 2023.
Real estate loan rates, which are still very high, partly explain this trend. Buyers lose purchasing power and sellers are forced to lower their ambitions. The fall in transactions, -23% over one year, also illustrates the deep crisis that the real estate sector is going through in the Ile-de-France region.
A general fall in prices
Some areas are doing better than others. For houses, Hauts-de-Seine, Seine-Saint-Denis and Seine-et-Marne are showing a price drop of between 7 and 8%, while in Val-de-Marne, prices have fallen by 9.1% over a year. The average price of a house ranges from 255,000 euros in Seine-et-Marne to 645,600 euros in Hauts-de-Seine, via 401,400 euros in Yvelines or 297,800 in Seine-Saint-Denis.
For apartments, it is in the inner suburbs that prices have fallen the most: -9% in Hauts-de-Seine, -8.3% in Seine-Saint-Denis, -8.1% in Val- de-Marne. In the greater suburbs, the drop is more measured: – 6.5% in Seine-et-Marne, – 6.6 in Val-d’Oise or even – 7% in Essonne. The average price per m² ranges from 2,770 euros in Seine-et-Marne and Essonne to 5,900 euros in Hauts-de-Seine, passing through 2,880 euros in Val-d’Oise or 4,720 euros in Val -de-Marne.
