Real estate prices in Paris: what salary to buy an apartment of 75 square meters?
Despite a downturn or even a decline in real estate prices in Paris, they remain at very high levels in the capital, making the purchase of an apartment complicated.
Even if real estate prices seem to settle down in Paris, they are still very high in the capital.At the end of 2020, according to the Notaries of Greater Paris, it was still necessary to pay 10,770 euros per m² to afford a apartment.Even much more in the arrondissements of central Paris.
Declining real estate purchasing power
As the Vousfinancer site reminds us, over 10 years, the price increase in Paris was 42% in total and even 77% compared to the low point in 2009, when the average price had fallen to 6,020 euros/m².In other words, the purchasing power of households, and in particular of young people, has plummeted as a result.
According to the Meilleur Agents website, Paris remains today the city with the lowest real estate purchasing power: in 2021 and with an income of 1,660 euros, a young adult can only access a studio of 11m² when he could s 'offer 20 m² in 2000.
Vousfinancer has also released its calculator: you have to earn at least nearly 11,500 euros net per month to buy 75 m².
To buy an apartment of 50 m², financed via a loan over 20 years (with 10% contribution), you have to earn at least 7,660 euros net per month: “in 10 years, average prices in Paris have increased by 5 500 euros/m², a surge that has not compensated for the fall in rates, yet divided by 3, thus leading to an increase in the income needed to buy in Paris ”.
Posted Date: 2021-03-30