Paris hits new record for prices

PROPERTY prices in Paris have hit a new record, with average third-quarter prices at €7,030 per square metre.

In addition, not one of the 20 arrondissements has average prices for older properties below the €5,000/m² level.

On average, prices are up 13.8 per cent in the inner city and by an average of 10.6 per cent across the Ile-de-France.

Property sales across the greater Paris area have risen by 23 per cent against the same period in 2009.

However, while prices in Paris have kept it as one of the most expensive in Europe, behind London, the UK capital has seen prices fall back by an average 1.2 per cent in the year to September.

London prices are now averaging €10,000/m².