KHS Real Estate has traded emails with me periodically and are avid readers of Matrix. They provide real estate market information and commentary through their web site and blog.
Paris, France real estate market
1st Quarter 2007
Strong market data for Paris real estate
Real estate prices in the elegant and trendy â€œSaint Germain- des- PrÃ©sâ€ district ( 6th arrondissement) in the heart of Paris hit a new record high during the 1st quarter 2007. The official average price per square meter for old and unoccupied apartments rose by 11.3% p.a. and stood at â‚¬9,003. The area between the Seine and the â€œLuxembourg Gardensâ€ has once again been the most expensive, followed by the 7th arrondissement ( â€œmusÃ©e dâ€™Orsayâ€ â€“ â€œInvalidesâ€ â€“ â€œEiffel towerâ€) where average apartments cost â‚¬ 8.385 per square meter.
In Paris â€œIntramurosâ€, the average square meter price for old and unoccupied apartments increased by 8,7% p.a. and reached â‚¬ 5,867. These are the official numbers for the first quarter 2007, released by the Paris Notary Chamber on its press conference on 3 July 2007.
The least expensive districts are located in the north- east of the French capital: the square meter for an average apartment cost â‚¬ 4,591 in the area around the â€œLa Villetteâ€ area, i.e. the 19tharrondissement and â‚¬ 4,927 in the neighbouring 20th arrondissement.
The market is strong and solid. However, the annual price increase rates have been shrinking since 2005: Whereas the average price per square meter rose by 14.0% p.a. in Q4/ 2005, it came gradually down to 8.7% p.a. in Q1/ 2007.
During the 1st quarter, strongest growth (+ 13,1% p.a.) was observed in the 5th arrondissement (â€œlatin quarterâ€) where the Sorbonne University is located and where many students live. Prices rose by 11,9% p.a. in the 8th arrondissement around the elegant â€œChamps- ElysÃ©eâ€.
1st Quarter Stats
KHS Paris Real Estate website
KHS Paris Real Estate blog
But I digress…
But for an excerpt of French related dialog, well not really but its one of my favorite rapid-fire dialogs in the movie Pulp Fiction:
Vincent: You know what the funniest thing about Europe is?
Vincent: It’s the little differences. I mean they got the same shit over there that they got here, but it’s just – it’s just there it’s a little different.
Vincent: Alright, well you can walk into a movie theater in Amsterdam and buy a beer. And I don’t mean just like in no paper cup, I’m talking about a glass of beer. And in Paris, you can buy a beer at McDonald’s. And you know what they call a, uh, a Quarter Pounder with Cheese in Paris?
Jules: They don’t call it a Quarter Pounder with Cheese?
Vincent: Nah, man, they got the metric system, they wouldn’t know what the fuck a Quarter Pounder is.
Jules: What do they call it?
Vincent: They call it a “Royale with Cheese.”
Jules: “Royale with Cheese.”
Vincent: Thats right.
Jules: What do they call a Big Mac?
Vincent: A Big Mac’s a Big Mac, but they call it “Le Big Mac.”
Jules: “Le Big Mac.” [laughs] What do they call a Whopper?
Vincent: I dunno, I didn’t go into Burger King. But, you know what they put on french fries in Holland instead of ketchup?