Falling real estate prices in Paris: Ile-de-France under the capital's influence

Paris real estate prices are falling. It's nothing new. But the fact that this trend is now being felt in other regions of Ile-de-France is news. Prices have fallen 1.5% over the past 12 months (©AdobeStock).

Month after month, the real estate market in Paris continues to see prices fall. According to Meilleurs Agents, prices in the capital have fallen by 1.5% over the past year and by 0.3% in January alone. This leads some to speculate that by 2023, the price per square meter in Paris could fall below the €10,000 mark. And in the meantime, falling prices are already having an impact on Ile-de-France according to an online broker.

Real estate prices: all Ile-de-France regions in decline, except for Yvlin "Paris has finally managed to pull the subsequent decline of the entire Ile-de-France region. Both small and large circles are now experiencing significant price declines (respectively -0.7% and -0.3% in the last two months)," Meilleurs Agents note.

The timing of transactions is lengthening. "Homes that have led market growth since the pandemic began are also struggling," the study said. Since January, house prices are no longer rising in the regions closest to the capital, while in more remote regions they have fallen by 0.1%. At the same time, the time to close a deal is increasing everywhere, especially in Saint-Saint-Denis, where it has risen by 20 days over the year. Keep up with all the latest news from your region and favorite media by subscribing to Mon Actu.