Recent reports have revealed that real estate prices in Paris are set to reach record highs this summer as buyers\u2014mostly British\u2014seek to purchase apartments in the French capital\u2019s most luxurious neighborhoods.<\/p>\n
A survey by a Paris notary (Thierry Dolsal) showed that the number of buyers is growing uncontrollably; he added that demand has exceeded supply, particularly for select properties, \u201cperhaps due to Brexit\u201d\u2014that is, the United Kingdom\u2019s exit from the European Union.<\/p>\n
While Italians are the largest group of foreign homebuyers in Paris\u2014accounting for 17 percent of properties sold to non-French buyers\u2014the British rank second, accounting for 10 percent of these transactions.<\/p>\n
Statistics from the Paris and \u00cele-de-France Notaries' Chamber showed that apartment prices in Paris rose by 5.5%, reaching 8,450 euros per square meter during the first three months of this year.<\/p>\n
The report projected that prices would continue to rise, reaching 8,800 euros per square meter in July, based on preliminary contracts currently being prepared for signing. The last record high for real estate prices in Paris was set in the summer of 2012, when prices reached 8,460 euros per square meter.<\/p>\n
Real estate prices in Paris had fallen over the past three or four years to 7,880 euros per square meter. However, apartment prices in the capital have been rising again since the summer of 2015. According to notary estimates, prices in Paris\u2019s most exclusive neighborhoods have exceeded 11,000 euros per square meter.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Paris real estate prices will hit a record high this summer as buyers, mostly British, seek apartments in the French capital's most prestigious neighborhoods, according to recent reports. The number of buyers is growing uncontrollably, according to a census by Paris notary Thierry Dulsal, who added that demand has outstripped supply, particularly for selective properties. 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