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As expected the year on year sales figures are down with values in Paris from May 08 to May 09 showing a decrease of approximately 6% and sales volumes down by 29%. Relative to other real estate markets such as London 6% is not exceptional. These figures must be seen in context: at the end of the first Quarter of 2009 the year on year drop in values for “old” apartments in Paris was 1% coupled with a drop in sales volumes for “old” apartments of approximately 40%.

The figures at the end of the first Quarter portrayed a market where buyers and sellers where not agreeing on value. The new figures show that although there is still some way to go, the residential market in Paris has started to stabilise. Sales volumes have recovered slightly as vendors have started to drop their prices. Another factor which is having a positive impact on the residential property market is access to cheap bank debt. The above data are however averages for Paris as a whole.