Few cities enjoy the same reputation as Paris, but owning residential property in the world capital of romance comes with a price tag. Apartment prices ranged between 8,000 euros and 15,000 euros
. Paris’ 6th arrondissement borders the River Seine and is home to the popular district of Saint-Germain-des-Prés and other numerous sights of cultural significance. Prospective homeowners in this district spent 15,100 euros per square meter, on average, in 2023. In a
, Paris is among the priciest cities to live in. Apart from the capital, housing prices in the French cities of Lyon, Villeurbanne, and Nantes
. In Lyon, the third most populous city in the country, buying an apartment cost close to 5,000 euros per square meter on average, which was roughly half of the square meter price in Paris.
Development of the French housing market
With
mortgage interest rates doubling since the beginning of 2021, the French housing market has cooled. That was evident in the quarterly number of residential real estate sales and bookings, which
halved between the first quarter of 2021 and the third quarter of 2023. The decline in transactions also affected the development of home prices. In the third quarter of 2023, second-hand housing prices
declined annually for the first time since 2015. According to the European Mortgage Federation, house prices in France
have increased by 32 percent between 2015 and 2023, which was higher than in Italy and Finland but lower than in the United Kingdom (UK), Denmark, Ireland, Poland, Sweden, and many other European countries. Buying a new detached house in Metropolitan France cost nearly 353,000 euros in 2023.
Rental market in Paris and France
In France,
tenure is split equally among renters, owner-occupants with a mortgage, and owner-occupants without a mortgage. On average,
renters paid 555 euros per month for a two-bedroom apartment in 2023, but this figure varied widely across the country. Unsurprisingly, Paris is also the most expensive French city for renters: At 31 euros per square meter, the average monthly rent in the capital was
almost twice higher than in the second most populous city, Marseille.
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Due to varying update cycles, statistics can display more up-to-date
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