Anger at €945,000 price tag for 30 square metre Paris studio

Anger at €945,000 price tag for 30 square metre Paris studio
The apartment has a view of the Eiffel Tower. Photo: AFP
A Paris studio apartment just 30 square metres has been put up for sale for close to €1 million, in the latest example of the capital's out-of-control property prices.

The Paris property market is well known for being one of the priciest in the world, with the average price per square metre now over €10,000.

The combination of limited space, limited housing and very high demand has pushed prices in the French capital sky high, with prices rising by 62.5 percent over the past 10 years.

But even within this context, the advert for a 30 square metre studio apartment for €945,000 – or €30,000 per square metre – sparked derision and anger.

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The apartment, which sits in a prime location in the 7th arrondissement on the Champs de Mars, at the foot of the Eiffel Tower, was first advertised on popular selling site Leboncoin.

Pictures showed a one-room apartment with a bookcase used to separate the bed from the living space, up for sale for €945,000.

However the advert has now been removed after the seller says he was deluged with insults and hate mail.

Philippe Lederman, the owner of the Saint Ferdinand Immobilier real estate agency which had advertised the apartment, told French newspaper Le Parisien that he had been shocked by the reaction.

He said: “I've been getting insults, hate mail, people saying to me: 'Aren't you ashamed to sell at that price?”

He said that the price had been set by the owner but added: “In this area, which is very touristy, real estate agencies mainly have foreign clients looking for a pied-à-terre with an unobstructed view of the capital's symbol, the Eiffel Tower.”

According to Meilleurs agents, who specialise in online property valuation, an average apartment in Paris is currently trading at around €10,276 euros per square metre.
 
But in some areas prices are much higher – with properties in Odéon, Saint-Germain-des-Prés or the Champs-Elysées going for €15,000 per square metre. 
 
The most expensive street in Paris is currently listed as Avenue Montaigne in the 8th arrondissement, where apartments sell for more than €22,500 per square meter. 
 
Prices drop off sharply once you venture outside the Paris ringroad to the suburbs.
 
 
 

 


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