Property prices hit new record in Paris

Househunters prepared to pay top dollar are pushing the price of properties in Paris to record highs, figures show.

The average price of an apartment in the capital crossed the symbolic €9,000/m2 threshold in 12 arrondissements in October. It now stands at €9,165/m2, according to the latest LPI-SeLoger barometer - and the sky-high prices are not putting off potential buyers.

The opposite is true. Property experts believe the increases are set to continue in the coming months, with buyers increasingly keen to invest in Paris. In April, the chambre des notaires revealed that the average price of apartments in the city was €8,510 - a rise of 5.5% on the same month in 2016.

Prices increased across all 20 arrondissements - with average prices soaring 8% year-on-year in half of the capital's districts and the 18th, sixth and fourth arrondissements showing the biggest rises.

Elsewhere, cities such as Bordeaux and Nantes are also enjoying a property boom.