Are you clueless about family rental prices in Paris and ready to sign anything ? Are you ready to cross the “periph” but don’t know how to best spend your euros for accommodation ? Are you dreaming about becoming a home owner in Paris in 2016 but not sure about your timing ? Before you take any bold moves, read your latest housing market figures for the Paris region. You hate reading stat reports ? I get it ! Check out our infographics for a quick snapshot instead !
Rental housing market
In its latest data, Clameur underlines that residential mobility in IDF (Ile de France) rises slowly (0,5% to 1,5% per year) to reach 23,1% and 17,5% in Paris compared to 30,9% for France (all regions included). It has declined more that 10% from 2009 to 2015 and more than 20% since 2000. This situation is particularly tense because of the strong housing demand in IDF and the implementation of capped rents in Paris.
The decrease of rental prices is a general phenomenon, continued in the first 20 cities of France since 2006. In IDF, the market rent decline is less rapid than the rest of the market (-0,4%). In Paris,the market rent fell by 1,3% in 2015.
This decline in rents is accompanied by weaker efforts of housing improvements or renovations. In 2015 in Paris, only 23% are renovated against 44,2% from 2009 to 2014. The implementation of capped rents in Paris is not a measure that reassures landlords especially if the real estate market continues its recovery.
Property housing market
As specified in the late January 2016 figures released by Notaires Paris-Ile de France, sales volumes of older apartments in IDF registered a 42% rise from September to November 2015 compared to the same period in 2014 and a 35% rise in houses in IDF. This trend continues in December
2015 has been an active year in terms of annual increase of sales volumes with +15% in IDF. Click To Tweet
All IDF departments benefit from this recovery concerning apartments as well as houses.
From November 2014 to November 2015, the price/sqm in Paris has stagnated (-0,1%) where it has reached 8000 €/sqm. Click To Tweet It dropped slightly in IDF (-1,1%) with 5270€/sqm.
In Petite Couronne, it has decreased by 1,8% (4240€/sqm) and by 2,1% (2920€/sqm) in Grande Couronne. Prices are stable over one year for houses in IDF (+0,1%).
The price/sqm should stabilize around 8000€/sqm in the first 3 months of 2016 in Paris. Click To Tweet
In Petite Couronne, prices are expected to drop slightly in the coming months. However, house prices could register a rising trend fluctuating between 3 to 4% by March 2016.
Your turn !
Housing represents the most important expense for a family. Keep in mind these figures to build your budget and then explore ! So what move are YOU planning on doing this year ? Let me know in the comments below.