The Fire of Paris Real Estate Has Cooled. Time to Buy?
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A Wallet-Emptying View of Sacre Cour from Champs Elysées Penthouse
You have to hand it to the French. Here in the US, we’re thrilled if we can cobble together real estate sales and rental data going back a few years. In preparation for my trip to Europe on Friday, I took a look at what data was available in Paris. A lot. Easily downloadable are the purchase and rental data for Paris from 1200 to 2016. Yes, the year 1200 … 816 years of data at your fingertips. The data is tracked by the Conseil Général de l’Environnement et du Développement Durable (CGEDD). Quite a mouthful.
Looking back a bit more reasonably to 1965, there are some interesting comparisons to be made. First of all, the average property in the US as measured by Freddie Mac and Case-Shiller was consistently higher than in France from 1965 until 2001, when the costs merged. From that point onwards, French residential real estate has greatly outperformed the U.S. market.
