Lyon and Paris on the up
France’s two biggest cities have seen prices for city centre properties soar over the past year. According to Seloger.com, 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.