Property price difference between London and Paris

The price difference for older properties, particularly in luxury property, is increasing between London and Paris. This encourages buying in the capital of France, where supply is rising.

« In 2011, the price gaps for prestige property between New York, Paris and London were 15%. Today, Paris is priced at half the rate of London ».

Regarding older properties, the average price is €11,500/m² in London, compared to €7,800/m² for Parisian property. These figures correspond to a 30% gap. Other European cities remain cheaper than London and Paris nonetheless: Rome (€7,500/m²), Milan (€7,000), Berlin (€4,800), Barcelona (€4,200) and Madrid (€4,100).

In France, figures can reach up to €12,000/m² on average for the most sought-after and exclusive neighbourhoods such as the 6th arrondissement, the 8th, the 16th, the Latin Quarter, or Le Marais.

The French property market represents a genuine opportunity for buyers of high-end properties. This marks the beginning of the market’s recovery. Indeed, all favourable circumstantial factors are in place, and buyers have a choice among an increasingly abundant supply of properties. Subsequently, Parisian market prices are not expected to rise; they will therefore remain advantageous. However, supply will be less substantial: « first come, first served ».

2015 property sales are already benefiting from falling French property prices and the euro’s decline against the dollar, pound sterling and Swiss franc. Foreign purchasing power is therefore increasing.

Source: aucoeurdelimmo.com