Paris apartment prices declined for the first time since 1998 as the global financial crisis sidelined potential buyers. France’s economic recession and the contraction in the country’s mortgage market has decimated demand for properties in the French capital, where values peaked in the third quarter of 2008, the group said. Transactions fell 41 percent in the first quarter from a year earlier.
By Simon Packard, May 28, 2009, Bloomberg

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