Lyon and Paris on the up

French Property News - - News -

France’s two big­gest ci­ties have seen prices for city cen­tre prop­er­ties soar over the past year. Ac­cord­ing to Sel­, prices for re­sale prop­er­ties in Lyon have in­creased by 5.4% year-on-year with an in­crease of 9.6% in the 3rd ar­rondisse­ment alone.

The 2nd ar­rondisse­ment, a chic area lo­cated on the penin­sula squeezed be­tween the Rhône and the Saône rivers, re­mains the most pop­u­lar and most ex­pen­sive district with an av­er­age price for re­sale apart­ments of €5,070/m². The most af­ford­able ar­rondisse­ment in Lyon is the 9th, a dy­namic area with plenty of green spa­ces and a mul­ti­cul­tural pop­u­la­tion, where av­er­age prices for re­sale apart­ments are €3,225/m².

Mean­while, prices in the French cap­i­tal are set to reach a record high in 2017 ac­cord­ing to No­taires de France Paris, who es­ti­mate val­ues will reach an av­er­age of €8,500/m2 in April 2017, which would rep­re­sent a year-on-year in­crease of 5.6%. Prices have soared over the past year, in­creas­ing by 4.4% and reach­ing an av­er­age €8,340/m2, although the num­ber of trans­ac­tions didn’t move, due to high prices and lack of avail­abil­ity,

This rise in­cludes the whole city with the 3rd ar­rondisse­ment ben­e­fit­ing from the high­est in­crease (+8.6%). There are now only four ar­rondisse­ments with av­er­age prices be­low €8,000/m2, the cheap­est be­ing the 19th (€6,920/m²). The most ex­pen­sive district is Odéon where prices per square me­tre have reached €14,820/m².

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