If your New Year's resolution is to buy property in Paris from America, Australia or elsewhere, you have probably read my October 2024 Flash Update, which highlighted the significant decline in Paris real estate prices in 2024 after years of rapid growth.
On average, Paris property prices have fallen by 6.7%. The main factors behind this drop include inflation, rising interest rates, and a high inventory of properties for sale. The pandemic has also driven many Parisians to seek homes in the countryside, further contributing to the market shift.
From central arrondissements like the 4th district to residential areas in the southeast, nearly every arrondissement of Paris has been impacted by this downturn in real estate prices. Let's explore.
🥐 The Sharpest Declines: The Central Areas
📌 4th arrondissement: a plunge in the historic heart
With a 7.1% decrease, the 4th arrondissement saw the most significant price drop, reaching €12,120/m². This area, home to treasures like Notre-Dame de Paris and Place des Vosges, is no longer immune to the downturn.
📌 12th and 10th arrondissements: areas losing attractiveness
The 12th and 10th arrondissements posted drops of 6.8% and 6.7%, with prices around €8,370/m² and €8,980/m², respectively. The 12th, once popular for its green spaces like Bois de Vincennes, seems to be suffering from its relative distance from Paris' central hubs. The 10th, on the other hand, faces increased competition from more affordable peripheral areas.
📌 1st and 19th arrondissement: opposites attract
In the 1st arrondissement, prices dropped 6.4% to €12,440/m². Despite its prestigious status, with landmarks like the Louvre and Tuileries Gardens, it is feeling the effects of the market shift. At the other extreme, the 19th district, much less upscale, experienced a similar drop of 6.5%, bringing prices down to €7,630/m².
🥐 More Moderate Price Declines in Other Arrondissements
📌 18th arrondissement: Montmartre holds strong
With a 6.3% drop, prices in the 18th reach €8,480/m². While Montmartre and its bohemian vibe continue to attract visitors, other parts of the district struggle to compete with better-served, more exclusive alternatives.
📌 16th arrondissement: quiet luxury at a lower price
In the chic 16th arrondissement, prices fell 4.7%, now standing at €10,010/m². Known for its residential charm and green spaces like Bois de Boulogne, this area remains attractive but faces competition from well-connected suburbs like Neuilly-sur-Seine.
📌 11th and 9th arrondissements: nightlife and practicality
The 11th arrondissement saw a 3.9% decrease to €9,470/m², while the 9th arrondissement dropped 4.1% to €9,770/m². These dynamic neighborhoods, known for their nightlife and shops, still attract significant demand, limiting the price decrease.
📌 20th arrondissement: the most affordable
The 20th arrondissement, with a 5.7% decrease, now sees prices at €8,030/m². This eclectic neighborhood, known for the Père-Lachaise cemetery and its green spaces, appeals to a diverse population. Its relative affordability in Paris makes it a popular choice for buyers with a tighter budget.
🥐 The Most Stable Districts: Luxury Above All
📍 5th and 6th arrondissements: bastions of excellence
In the 5th district (a 3.9% drop to €11,340/m²) and the 6th district (a 3.6% drop to €13,380/m²), prices remain relatively stable. These areas, with their prestigious locations like the Panthéon, Luxembourg Gardens, and top schools, continue to attract wealthy families looking for exclusivity and security for their children.
📍 13th and 15th arrondissements: attractive prices
The 13th arrondissement saw a modest 3% drop, with prices remaining accessible at €8,230/m². The 15th arrondissement, well-connected and family-friendly, now has prices of €8,960/m² after a 3.7% drop.
📍 8th arrondissement: luxury made slightly more affordable
The 8th arrondissement, with prices at €10,530/m², saw a 4% decrease in 2024. Famous for its iconic avenues like the Champs-Élysées and the Arc de Triomphe, this sector remains highly sought after.
📍 2nd and 3rd arrondissements: between vibrancy and historical charm
In the 2nd arrondissement, prices dropped by 3.4%, reaching €11,600/m². This area, combining the energy of the Bourse district with quieter pedestrian streets, remains popular among young professionals. Meanwhile, the 3rd district, with a 4% decrease to €11,820/m², retains its charm thanks to its village-like atmosphere and art galleries in the Haut-Marais.
🥐7th arrondissement: The Only One with Rising Prices in 2024! 🥐
While most arrondissements saw their prices fall, the 7th arrondissement stands as an exception. With a 2.8% increase, prices reached €13,410/m². This growth reflects the strong demand for this prestigious area, home to iconic landmarks like the Eiffel Tower, Champ-de-Mars, and key political and diplomatic institutions.
🇫🇷 Top 10 Arrondissements by Price Drop in 2024
Arrondissement | Price Drop | Average Price |
4th | -7.1% | €12,120/m² |
12th | -6.8% | €8,370/m² |
10th | -6.7% | €8,980/m² |
19th | -6.5% | €7,630/m² |
1st | -6.4% | €12,440/m² |
18th | -6.3% | €8,480/m² |
20th | -5.7% | €8,030/m² |
16th | -4.7% | €10,010/m² |
9th | -4.1% | €9,770/m² |
11th | -3.9% | €9,470/m² |
2025 Outlook
In my recent article, 2025: What to Expect in the Paris Real Estate Market most experts anticipate that the Paris Real Estate market will remain stable in 2025. At most, if prices rise, the increase is expected to be minimal.
So if your New Year's resolution is to buy an apartment in Paris from America, Australia or elsewhere, 2025 should still offer nice opportunities!
🥐 🇫🇷 Happy property hunting in 2025, may your French real estate journey be as smooth as a buttery croissant! 🥐 🇫🇷
As always, I love to read your comments and answer your questions.
Tomette Paris® is a Registered Trademark in France. INPI certificate number 24 5023079 dated 21 January, 2024.
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