Consequences of real estate prices in Paris

If we take into account the average cost of housing in Paris at seven thousand euros per square meter, this city can be called an impregnable citadel, where only a successful investor, leader or representative of a free profession can afford to buy real estate. At first, the workers left the limits of the Parisian periphery, and now the time has come and the usual employee to follow them.

You can buy a studio or a good room for about six thousand euros per square meter, if we are talking about the thirteenth district of Paris, and if you are interested in the sixth or seventh district, the cost of the apartment there reaches ten thousand euros per square meter. As they write in the publication Capital. FR, the vast majority of families simply cannot afford to buy real estate in Paris, so they buy real estate in France in Parisian suburbs.

True, the income of the inhabitants of Paris is twenty to thirty percent higher than the income of the provincials, but this is not enough to compensate for the high cost of real estate in the capital. According to Pierre Bazail, the president at the notarial institution for real estate, the prices in Paris are higher today than in any other regional large metropolis, more than doubled, and this gap only increases, this must be taken into account by those who are interested in real estate abroad.

The consequences of this increase in prices are quite obvious: in addition to wealthy heirs, buyers under the age of thirty almost disappeared in the Parisian real estate market. As lawyers say, they make up only sixteen percent of buyers, while in provincial cities like Marseille or Lyon they are a quarter.

Obviously, due to such prohibitive prices, representatives of a more modest socio-professional category cannot afford housing. Workers carry out only more than one percent of transactions, which is almost three times less than the number of transactions 10 years ago. And, nevertheless, those few who still could buy real estate in the capital invested within three hundred thousand euros.