The latest LPI-Se Loger property barometer shows that the French capital is no longer the most expensive place to buy property in France.
Leapfrogging the capital to become the most expensive place to buy in France is Neuilly-sur-Seine, located to the western edge of Paris, sandwiched between the plush 16th and 17th arrondissements of the capital and the business district of La Defense.
According to the barometer the price per square metre in Neuilly-sur-Seine, which data shows is the wealthiest town in France, is now €10,344 per square metre. That compares to the average price of an apartment in Paris which is €9,827 per square metre, according to the barometer.
Although it's worth pointing out that that is the price for Paris as a whole, where property prices vary widely between the west and the east of the city. In some central and western arrondissements of the capital, such as the 8th and 16th, the price per square metre is much higher than Neuilly.
And the reason for this jump in property price in Neuilly, according to experts, is partly due to wealthy French families returning to France from the UK as a result of Brexit.
Once run by French president Nicolas Sarkozy, the well-heeled town of Neuilly is attractive to the returning families for its proximity to Paris' financial district La Defense, its bigger apartments (sometimes even houses) and the greater amount of green space on offer there.
It also has the added bonus of being on line 1 of the Paris Metro, which links Neuilly to the centre of the city.
This average price per square metre represents a 4.9 percent increase in prices over the past year, with the average price of a property in Neuilly standing at €744,000.