2020 Paris Real Estate Report: Prices Expected to Increase


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Eiffel Tower and Paris Rooftops

According to luxury real estate agency Knight Frank, Paris is expected to lead global cities in terms of price increases, predicting a 7% rise. If you scan our analyses over the past four years, we called it. Importantly, Paris is not becoming unaffordable, because much of the price increases over the past three years are playing catch up with other major cities in the world.

2020 Paris Real Estate Report

We published “Paris Real Estate: The 7-Year Itch” in 2017, and in it we showed how Paris lagged most other big cities. In fact, Paris only caught up with former highs a few years ago. With Brexit and the possibility of more businesses and banks moving to locations such as Paris, we predict a continued rise in 2020 and beyond.

Knight Frank Predictions: Paris leads at +7%, followed by Berlin, Miami and Geneva.

Cost of Financing remains cheap in the Eurozone, adding to our confidence

Cost of Living in Paris is Still Affordable

Numeo published the 2020 Cost of Living Index in cities throughout the world. Paris ranked 24 on the list. Ahead of this affordable city, you’ll find four cities in Switzerland, three in Norway (we had no idea!) and a record eight of cities in the United States.

RankCityCost of Living IndexRent IndexCost of Living Plus Rent IndexGroceries IndexRestaurant Price IndexLocal Purchasing Power Index
1Zurich, Switzerland128.2961.6696.42127.96124.73126.90
2Basel, Switzerland125.5445.7687.38124.99123.11121.47
3Lausanne, Switzerland124.0250.6488.92127.26123.61110.52
4Geneva, Switzerland118.9868.4794.82112.88119.58111.16
5Bern, Switzerland116.0340.5279.91107.58115.56131.89
6Stavanger, Norway102.2736.1070.6290.99112.4587.58
7Oslo, Norway101.6644.0874.1289.35112.0486.47
8Trondheim, Norway101.5537.6170.9795.53102.7489.31
9Reykjavik, Iceland100.8551.2577.1284.91120.6081.07
10Bergen, Norway100.1735.2569.1288.41111.5694.06
11New York, NY, United States100.00100.00100.00100.00100.00100.00
12San Francisco, CA, United States91.51115.58103.0286.9194.45135.90
13Anchorage, AK, United States91.3638.9466.2988.4278.89118.44
14Honolulu, HI, United States89.7063.0376.9489.8383.6088.29
15Brooklyn, NY, United States88.8280.4984.8483.2292.7792.95
16Aalborg, Denmark88.4024.2057.6975.30103.05115.92
17Washington, DC, United States87.7478.1883.1786.4487.48130.25
18Tokyo, Japan86.8738.0063.5083.4256.7089.70
19Oakland, CA, United States86.5179.5583.1889.2874.62113.60
20Tel Aviv-Yafo, Israel86.3645.3466.7473.0193.7574.31
21Copenhagen, Denmark86.2344.4966.2662.78104.6190.70
22Seattle, WA, United States85.7765.7076.1781.6981.25133.43
23Seoul, South Korea85.5030.4559.17103.6945.8876.81
24Paris, France85.1646.9866.9078.9881.3571.17
25Luxembourg, Luxembourg83.7155.8570.3869.5392.44106.31
26Boston, MA, United States82.8874.4778.8681.2381.85112.39
27Bellevue, WA, United States82.1863.2473.1276.8676.62163.27
28London, United Kingdom81.3070.0175.9057.3189.0478.16
29Singapore, Singapore81.1063.2772.5866.7558.9988.96
30Arhus, Denmark81.0831.1757.2162.4288.73100.81

For non-French residents interested in buying an apartment in Paris, there’s an additional and important fact: extremely low interest rates. With the right qualifications, one can finance for less than 3% in France, and the running costs are among the lowest anywhere.

Paris Apartment

Paris Perfect Property Search Services

If you’re interested in buying your own Paris property we have eight great tips to help familiarize you with the French buying process. It’s not easy! And if you’re ready to start looking for that Parisian pied-à-terre, we can help through our property search services. Click here for more information. For more insight about the Paris real estate market, check out this recent article from The Wall Street Journal about why Americans are buying homes in Paris.

 

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