More than 80% of the population cannot buy a 50 m² apartment in Paris

More than 80% of the population cannot buy a 50 m² apartment in Paris

Buying an apartment in Paris is becoming increasingly difficult. (©DG/news Paris)

Become an owner at Paris not easy. While the average price of an apartment exceeds €10,000 per square meter, few Parisians can afford to buy an apartment. A situation that will not improve while interest rates rise and could exceed 3% in 2023.

Shopping times are getting longer

According to a study revealed on Monday, October 24, 2022 by Meilleurs Agents, more than 82% of Parisians can’t afford to buy apartment with a size of 50 m² in the capital. This is an increase of 1.8 points since the beginning of the year. And the situation can get worse. According to their estimates there will be 84% if rates reach 3.45% in 2023.

“The rise in interest rates remains visible in the capital, as the purchasing power of real estate (that is, the number of square meters that a household can obtain according to the market price, the monthly payment it is able to pay and the duration of the loan ) is among the lowest in France at 24 m², ” is analyzed by the real estate website.

Sales times have increased significantly over two years, a sign of the fragility of the Paris market. Currently, the remaining property is approx 68 days on the marketcompared to 44 days in August 2020.

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