Paraphrase in English of French Real Estate Notary News original article in French is here
The purchase price for an old apartment in Paris is the same today as it was 3 months ago. “While many factors argued for a lower price, they show a persistent strength” stated notaries during their press conference, Tuesday, May 28 2013
The Real Estate Market is Blocked in Paris
The lack of change in price is accompanied by a sharp fall in the volume of transactions. “The market is blocked” laments Mr Thierry Delessale.
Since prices remain high and there is economic uncertainty, and fear of unemployment many people are discouraged from buying.
“Potential buyers are waiting for a drop or can not buy, and sellers continue to keep their position.”
There has been a very significant decline in the number of sales but no change in prices.
The question is whether this situation can continue.
The only thing for sure is soaring property prices in the 2000s are well and truly over and the last two years, prices have tend to stabilize. Meanwhile, they are still high.
Date of Posting May 2013
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