France Real Estate Market: Discover Top 5 Paris Areas Facing Significant Property Price Declines

France real estate market insights reveal areas in Paris with significant property price drops, highlighting trends and opportunities for buyers.

In recent months, the Parisian real estate market has experienced a notable downturn, with prices plummeting by approximately 10%—a staggering reduction that translates to a loss of up to €1,100 per square meter in real terms across various arrondissements. While most areas have succumbed to this trend, the 2nd arrondissement has managed to maintain a semblance of stability, with a mere 0.42% decrease, resulting in a price per square meter of €11,760.

The 9th arrondissement has taken the brunt of the decline, witnessing a drop of 10.14%, bringing the average price down to €9,750 per square meter. Following closely are the 19th and 12th arrondissements, with decreases of 9.76% (€7,670 per m²) and 9.20% (€8,490 per m²), respectively. Meanwhile, the 8th and 7th arrondissements have also seen modest declines of 1.92% and 3.57%, with prices resting at €11,240 and €13,250 per square meter, respectively.

As for affordability, the 19th arrondissement has emerged as the most budget-friendly option, with an average price of €8,600 per square meter. In stark contrast, the 6th arrondissement reigns supreme as the most expensive, boasting an average price of €13,550 per square meter.

This price drop is not an isolated phenomenon; it reflects a broader nationwide slowdown in the French real estate market. Recent statistics from the Notaires de France reveal that the number of properties sold in the year leading up to February 2024 has hit a nearly decade-low, with year-on-year volume declines reaching unprecedented levels. The February 2024 report from the national federation of real estate agents (FNAIM), which represents a network of 12,000 agents, corroborates this trend, indicating a market that has shifted in favor of buyers rather than sellers.

By April, buyers were reportedly negotiating with newfound vigor, as real estate prices across the nation fell by an average of 9% in the preceding six months. Estate agents have noted an influx of offers to list new homes, even as they grapple with the challenge of selling existing properties. It appears that in this current climate, buyers are indeed spoiled for choice, while sellers may find themselves in a rather precarious position.