France property prices 'rise sharply'

Individuals looking to buy property in France may be interested in the latest comments from one expert.

According to the latest figures from the Paris Chamber of Notaires, prices for real estate in Paris have risen sharply in the past year.

The average property price has for the first time broken the EUR 7,000 per square meter barrier, the organisation said. Furthermore, transaction levels in the capital city have also enjoyed a steep rise - up by 23 per cent year-on-year.

This is being driven by strong demand from overseas buyers, especially from Chinese and Italians, the chamber's president Christian Lefevre said.

Mr Lefevre said that is shows that the ‘price explosion’ that started in the heart of Paris has now spread outwards.

Meanwhile, a new law being introduced in the country which requires all sellers to produce an energy report could result in a temporary lack of stock as the sector gets used to the change.

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