Paris: property prices have been brought down by 5% since the beginning of lockdown

In Paris, it has been a while that the property prices did not changed. After a long period of stagnation and frozen activity, the company specialized in online property estimation Drimki delivers the first numbers as for the fluctuations of the property market in Paris. Surprisingly, for the first time since the 2008 financial crisis, the property prices have been brought down by 5% since the beginning of lockdown

While the property market triggered “enthusiasm at the beginning of the year” as the company says, it is obvious that the “property market did not resist the health crisis”. The specialized website also assesses “successive decreases on the property price have been noticed during lockdown”. In concrete words, as of May 4^th, it should have pay about €11,581 to buy 1sqm. Which is ridiculously low, compared with the €13,070 for the square meter in Paris as of March 16^th, which is the day before lockdown started.

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Yet, if you are the happy owner of a flat or a surface in Paris, do not worry; with the 1^st phase of the containment exit on May 11, prices record an increase by 7%. In cities closed to Paris, like in Saint-Denis or Argenteuil, the property prices have been brought down a little. To carry out this study, Drimki relied on the prices of posts found on advertisement portals, and not on net selling prices after negotiation.