French capital apartment prices soar
French property agents, working within the Capital, claim that property prices are so high in and around the centre of Paris that first time buyers have disappeared from the radar.
Parisian property prices are now 40 per cent above those seen six years ago, last year alone saw values climb by more than 17 per cent - an enormous increase when compared to London propeties which only saw a single figure percentage increase and indeed the rest of the French property market remained fairly static during the same time period.
According to local agents the majority of property sales within the capital last year were completed not by foreign investors but by native residents of France. First time buyers have been squeezed from the market due to the high prices and very few new properties are being built due to strict zoning laws. Less than 2,800 new properties were developed last year across the twenty districts within the capital city.