The French real estate market has fared better than many other in Europe recently, according to Tobias Just, head of real estate research for Deutsche Bank Research in Frankfurt. Although sales volumes in France have declined 20 to 25 percent in the past year, Mr. Just said that the Paris market had almost held its own, with prices in many parts of the city falling only about 10 percent since the market peaked. But he does expect prices to fall further in the coming months.
[From International Real Estate – For Sale in…Paris – NYTimes.com]
Caveat: We haven’t been to Paris since November, so we’re interested to get back in August to see what prices are really like. I can tell you this was true end of last year. Prices looked down or stable in the 6th and 7th, but everyone we talked to said it was largely a function of those with the means not needing to sell at fire sale prices. There was perhaps more inventory, but no great deals.
We’re happy we bought when we did. I foresee no real correction in central Paris, barring a class war that the news media seems to really want to break out.
Feel free to ask real estate questions in comments and I’ll try to help out where I can.
