It's a bit of depression among Parisian real estate agents.
Especially those who work in the former 1st, 3rd and 4th arrondissements which recently formed the Paris-Center arrondissement.
In fact, since the start of the school year and the acceleration of the health crisis, the market has continued its downward trend.
In three months, prices in the 1st arrondissement show a drop of 0.9%, in the 3rd, the drop is 1.3% and 1.8% in the 4th, when the average drop over the whole of the city of Paris is 0.5% according to the barometer of our partner Best Agents.
Unheard of in these very upscale neighborhoods where the m2 is negotiated between 12,500 euros and 13,300 euros.
Only the 2nd managed to get by with an increase of 0.8%.
A situation that is not about to get better according to professionals in the sector.
In the 1st, we can "afford to negotiate"
Of course, prices are falling, but less than elsewhere.
Because this sector has many strengths.
"It's the historic district of Paris with the Louvre, the Tuileries ... and that comes with a price," says Christophe Crépet, director of the Paris-Seine agency.
Moreover, it is a sector very well served by transport.
It is also the district which had increased the most in one year, + 4.6%.
But this prosperity seems well and truly over.
“As there is more choice, people can afford to negotiate what was still unthinkable at the start of the year,” exclaims Christophe Crépet.
The 2nd, saved by the "bobo clientele"
The districts of Porte Saint-Martin, Montorgueil, Réaumur Sébastopol now offer lower prices than the neighboring districts, 11,900 euros on average, or 700 to 1,400 euros per m2.
As a result, it is the only one of the four districts to experience an increase over the last three months with + 0.8%.
“The old Trail is changing,” stresses James Meimoun, director of the Engel and Völkers agencies.
The bobo clientele begins to invest in the former premises of confections.
"
In the 3rd arrondissement, it's a little depressed
If, in five years, this district has experienced an explosion in prices with + 41%, on the other hand, since last summer, it is a little depressed (-1.3%).
"It was a bit of a pied-à-terre district, but today this type of apartment is no longer attractive," recognizes Franck Aprile, director of the Morris Immobilier Paris Center agency.
We have doubled our number of mandates in three months.
And there will be more and more offers by December.
".
But at 13,365 euros per m2 in the Archives district, prices remain high.
"It is the most expensive, carried by high-end shops", decrypts the real estate agent.
The fourth, grandeur and decadence
It is the most expensive district of the four, with an average of 13,376 euros per m2.
But it is also the one which has progressed the least in five years (+ 26.4%) and which has fallen the most in three months (- 1.8%).
“Last February, an 80 m2 apartment on rue de la Verrerie was offered for sale at 14,000 euros per square meter,” recalls James Meimoun.
But the Covid has been there and everything has been stopped.
After the deconfinement, we took a month to sell it because no one wanted to buy it at the price.
Finally, it went to 13,800 euros per square meter.
Never seen.
"
The buyer-seller ratio has fallen
Not only are prices falling, but in addition, goods are struggling to find buyers.
“Where a few months ago we had an average of eight buyers for a seller, we have now fallen to a ratio of two to one because the owners have trouble lowering prices, laments the director of Engel agencies and Völkers.
It's simple, people don't even come out if they think it's too expensive.
"
