Wednesday, December 14, 2005
Real estate in Paris: the price is not right!
In Paris the price of real estate is really crazy. On this photo, a 30 sq meter studio in the 1st arrondissement (a good location) is sold for 276 000 €, that is 9 200 € per sq meter! The price of an apartment or a house (there are few houses in Paris) is primarily based on the number of square meters then on the location (it may double or triple from one arrondissement to another) and the general condition of the place (note that kitchen cabinets or appliances are generally not included). Balconies, terraces, elevators… are obviously a plus. The price shown in the ads include the agency fees but not the “notary fees” (mostly taxes) which amount to roughly 6%.