Property prices fell slightly in Paris in the fourth quarter of 2012 as apartment sales slumped by 12% in the capital compared to Q4 2011, according to the French Chamber of Notaries.

Surprisingly, this drop was most evident in the centre of Paris where the volume of sales fell by 21% – the same as in 2008 – with just 5,930 properties sold in the final quarter.

In total, just 27,690 apartments in Paris were sold in 2012, only a fraction more than in 2009 when the crisis hit. On average house prices fell by 1.3 percent in the third quarter of 2012 and 0.4 percent in the final quarter.

According to the French Chamber of Notaries, there are indications that ‘this downward trend will continue for the next few months in the capital.’

Currently, the average price in Paris stands at €4,420sqm in the outskirts of the city and €8,270sqm in the city centre.