The French real estate market has reached the bottom, experts say. After two years of falling demand and falling prices, it is likely to start growing soon.
Notaries predict that by the end of November, the fall in housing prices in new buildings will decrease on average to -2.6% year-on-year (-2.2% for apartments and -2.9% for houses). This is the smallest decrease since the beginning of the downward trend in 2023.
The situation in the French markets is not uniform. Thus, the annual drop in apartment prices in Ile-de-France is estimated at -3.9%, while in the rest of France it is only -1% for apartments and -2% for houses.
Finished apartments fell the most in cities: -9.5% in Bordeaux (up to 4160 euros per square meter), -11.1% in Nantes (3360 euros per square meter) and -10.1% in Nimes (1980 per square meter), and finished houses: -6.6% in Brest, -7.6% in Bordeaux and -9.8% in Limoges.
The areas where the opposite trend was observed include: Bayonne (+8.8%), Amiens (+8.8%) and South Corsica (+3%). In Nice, prices remained stable, declining only slightly, by 0.7%.
In Paris, prices for small apartments have started to rise, but prices for more spacious apartments with two or more bedrooms continue to fall, although not as sharply as before.
In general, prices in Paris decreased by 0.6% between May and November 2024, compared with a drop of 4.4% over the same period in 2023.
The average price of real estate in the French capital now stands at about 9,500 euros per square meter, but there are significant differences depending on the district: this year the 6th, 7th and 16th districts became the most in demand.
Notaries in their latest market report claim that now is a good time to buy if you have found the right property.
Source: The Connexion
