News round up about property prices in Paris

French property Paris

Paris property prices up 10.6%
Prices for Parisian ‘pieds-a-terre’ are strongly up on the same period last year according to a recent study. The average property price has for the first time broken the €7000 per square meter barrier. Transaction numbers are now at the average levels seen during the boom years of 1999 to 2007, having risen 23% since Q3 2009.

Hips for France?
A new law will come into force on Jan 1st 2011 making it a requirement for all vendors to produce an energy “DPE” report on their property before putting the property on the market. This will mean a reduction in stock at the beginning of the year which should underpin current pricing levels overall but also act as a tool for negotiation for price reductions on older properties.