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GENERAL DISCLOSURES & DISCLAIMER

Data presented "AS IS". Radar Logic does not make, and hereby expressly disclaims, any representation or warranty of any manner in connection with the information including, without limitation, with respect to its accuracy, completeness or fitness for any purpose.

Paris, France (Île-de-France)


Departments Included in Metropolitan Area Definition

Essonne Hauts-de-Seine Paris
Seine-et-Marne Seine-Saint-Denis Val-de-Marne
Val d’Oise Yvelines


Data Source

TThe RPX IEIF Paris Metropolitan Area (MA) price, which reflects the price of homes in the Île-de-France region, is computed using data provided by the public Notaires that certify all housing transactions in France. All such raw data is “AS IS”, and no representation or warranty with regard to such raw data is given or implied. All data originate in the Notary Chamber for the Île-de-France region, which certifies the vast majority of transactions in the Paris MA. A transaction in the Paris MA may also be certified by a Notaire outside the Île-de-France region, in which case the transaction record is not available to Radar Logic at the time of this document. It is possible that Radar Logic may use additional sources of information in the future.

Price Denomination

The RPX IEIF Paris MA prices are expressed in Euros (€) per square meter.

28-Day Prices

Radar Logic’s 28-day prices are not moving averages; rather, they are computed using Radar Logic’s TPL methodology, aggregating all the transactions from the time period into a single input dataset. For example, a 28-day value for a given day would use the transactions from that day plus the 27 previous calendar days. More specifically, a 28-day value for a given day would use the shape parameters from that day, but would calculate the position parameter based on the data from that day plus the 27 previous calendar days. Please see the Radar Logic Methodology White Paper for information about the definition and role of the parameters in the price calculations.

Transaction Dates

The transactions included in the calculation of an RPX IEIF Paris MA price are identified according to the unique transaction date recorded for each transaction in the database of the Notary Chamber for the Île-de-France region.

Weekend/Holiday Policy

Radar Logic reserves the right to revise such weekend/holiday policy. You should revisit these Disclosures, which may be revised from time to time, to receive updated information regarding such weekend/holiday policy.

Radar Logic will not publish RPX IEIF Paris MA prices for transaction dates that correspond to weekends (Saturday and Sunday) and the TARGET closing days specified on the European Central Bank’s public holidays calendar. The latter include: New Year’s Day; Good Friday; Easter Monday; Labor Day; Christmas Day and Christmas Holiday (December 26). Transactions that have a transaction date of weekends and of these closing days are reassigned the date of the next valid transaction day. Radar Logic will not reassign dates to transactions that occur on local holidays, holiday-related low-volume days (e.g., the day after Christmas), or other days that are low volume as a result of inclement weather or other local dynamics.

Filters Applied to French Transaction Records

Radar Logic reserves the right to introduce new filters, remove filters or revise filter methodology. You should revisit these Disclosures, which may be revised from time to time, to receive updated information regarding such filter methodology.

Radar Logic does not apply all of its data filters to French transaction records because the data that Radar Logic receives from the Notary Chamber of the Île-de-France region differs from the data provided by municipal offices in the United States in terms of the type and quantity of information included. The Notary Chamber does not provide Radar Logic with information about property type, transaction type, or the identities of the buyer or seller in housing transactions, so Radar Logic cannot apply filters based on this information. Radar Logic’s property indicator code filter, corporate construction filter, multiple records filter and repeat load filter are not applicable to data received from the Notary Chamber because the Notaires only record residential property transactions and filter their data for multiple records prior to delivering it to Radar Logic.

The TPL filter excludes records that have a PPSF so low relative to the TPL spectrum that the information is presumed to be spurious. Radar Logic does not apply the TPL filter to data originating in the Notary Chamber, as we have concluded that it does not have a material impact on the RPX IEIF Paris MA price. The TPL filter was developed because it is common in some American metropolitan areas for transactions of individual units within a larger structure to be recorded with the unit sale price and the building area, resulting in very low prices per square foot. After extensive analysis of the data provided to Radar Logic from the Notary Chamber, we have concluded that such errors are rarely found in transaction records in the Notary Chamber’s database.

Radar Logic does not apply the stale data filter to historical transaction records from the Paris metropolitan area. The stale data filter excludes historical records we infer would have become available to Radar Logic more than 63 days after the transaction date in order to ensure continuity between historical prices and “live” prices, for which Radar Logic will include only records that have been received by the publication date. Historically, the process through which the Notary Chamber entered transaction records into its database took longer than 63 days, on average, so the stale data filter would exclude the vast majority of historical transactions. As such, imposing the stale data filter on historical records could introduce a significant amount of error to the calculation of the historical RPX IEIF Paris MA prices. The Notaries’ process for recording transactions has improved significantly in speed and efficiency since the beginning of 2009.

The grid below describes the filters that Radar Logic currently applies to transaction data used in the calculation of the RPX IEIF Paris MA price.

Filtering for Data Sufficiency and Accuracy

These filters are designed to ensure that included records contain all the requisite information and are not likely to be erroneous.

Filter What It Excludes Dates of Application Notes
Sale date or Recording date Records in which the sale date or recording date field is empty, ill-formed or occurs after the date that data was delivered to Radar Logic All  
Sale Price Records for which the sale price field is 0, empty, or Null All  
Area Records for which area field is 0, empty, or Null All  
Stale data Records that came to Radar Logic after the price for the transaction date had been locked for publication, no earlier than 52 days after the transaction. 3/22/2010 to present The stale data filter is only imposed on records with transaction dates for which the RPX IEIF Paris MA prices were published “live”. It is used to ensure that late-arriving records (i.e., records that come to Radar Logic after the price for their transaction date has already been locked for publication) are not used in the calculation of prices that have not yet been locked for publication.

Radar Logic reserves the right to revise such filter methodology. You should revisit these General Disclosures, which may be revised from time to time, to receive updated information regarding such filer methodology.

Transaction Counts

Counts represent transactions included in the calculation of the daily prices and may not reflect actual transaction volume in the market.

Overall Inclusion Percentages

The following table shows the percentage of records received that are designated as arm’s-length, residential transactions and are included in the calculation of the daily price, as well as the percentages that are excluded by each of the filters described in the filter definitions. Percentages are calculated as the number of records included or excluded by each filter, divided by the total number of records received through the date of this document minus the number of records that were updates to the existing records or were filtered out for being a non-residential property type, a non-sale transaction type, and/or not arm’s-length. The percentage of stale records may be understated to the extent that a small number of records from 2012 Q3 and earlier continue to be received. Note that the percentages excluded by each individual filter may sum to more than the total percentage excluded, as records may be excluded by multiple filters. The records are bucketed into years based on sale date; where sale date is not available, recording date is used. The total percentage of records throughout history with neither a sale date nor a recording date is < 0.01% for Paris.

  2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Q1 thru Q3
Included 66.7% 65.5% 64.6% 67.6% 72.7% 73.7% 73.9% 73.7% 75.2% 77.7% 54.0% 58.6% 76.9%
 
Excluded: Total 33.3% 34.5% 35.4% 32.4% 27.3% 26.3% 26.1% 26.3% 24.8% 22.3% 46.0% 41.4% 23.1%
    Sale date 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
    Sale price 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.3% 0.3% 0.1% 0.0% 0.0%
    Square footage 33.3% 34.5% 35.4% 32.4% 27.3% 26.3% 26.1% 26.2% 24.6% 20.0% 4.4% 0.0% 0.0%
    Stale date1 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.0% 41.5% 41.4% 23.1%
    Multiple records 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
    TPL2 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
1The stale date filter was not applied until 2010 - prior to that all records were included regardless of their reporting lag,as long as they arrived prior to 5/24/10, when historical prices were published.
2Radar Logic does not apply the multiple records filter to the transaction records used to calculate the RPX IEIF Paris price because the Notary Chamber does not provide the information required. Rather, the Notaires filter the transaction data for multiple records before the data are delivered to Radar Logic.
3Radar Logic does not apply the TPL filter to data originating in the Notary Chamber because it would exclude so few transactions as to have a negligible impact on the RPX IEIF Paris MA price.

Inclusion Percentages by Department

#N/As indicate that there were no records received from the county during the time frame.

  2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Q1 thru Q3
Paris 73% 74% 74% 82% 87% 88% 89% 88% 90% 93% 59% 62% 78%
Seine-et-Marne 65% 64% 62% 64% 68% 66% 65% 63% 62% 62% 49% 55% 77%
Yvelines 71% 67% 68% 70% 71% 70% 69% 72% 73% 71% 53% 55% 71%
Essonne 72% 70% 71% 64% 64% 64% 63% 64% 63% 63% 46% 54% 80%
Hauts-de-Seine 71% 72% 70% 74% 79% 81% 82% 82% 84% 85% 58% 62% 79%
Seine-Saint-Denis 46% 47% 48% 53% 63% 65% 68% 66% 67% 78% 49% 56% 76%
Val-de-Marne 60% 58% 55% 60% 67% 72% 73% 73% 76% 85% 53% 56% 76%
Val d'Oise 67% 60% 57% 55% 63% 62% 61% 62% 66% 63% 50% 55% 75%


Please click on link below for full discussion of disclosures and disclaimers regarding the RPX and Radar Logic Daily™ Prices:

General Disclosures & Disclaimer