After difficult years for the French property market, marked by rising interest rates and falling prices, the first signs of recovery are beginning to be felt in several areas of the country. But this trend remains uncertain and the contrasts are strong, even within the same region. An update on the sectors that have become attractive due to falling prices and those that, on the contrary, continue to experience sustained demand.
Paris: sharp decline, but slowing down
In the capital, a fragile recovery is beginning, which should be confirmed in the coming months, perhaps with the help of the attention brought by the Olympic Games, if real estate agents are to be believed. Meilleurs Agents claims, for example, that prices have risen again, very slightly, (+0.5%) in the last three months. However, in many districts they are still below 10,000 euros per square metre, so many sellers have changed their plans and have not put their properties on the market. The Guy Hoquet L’Immobilier observatory notes that the number of homes for sale in Paris suffered a clear decline of 8.9% in the first half of the year compared to +7.2% nationwide.
Only the most prestigious sectors, which remain attractive to foreign customers and where prices still exceed 14,000 euros, have seen supply continue to increase over the past year: +0.5% in the 5my district and up to 11.7% increase in the 6my. At the start of the school year, the LPI-IAD barometer indicates that twelve of the twenty districts in the capital have average prices above 10,000 euros per square metre. This is the case in the hypercentre of Paris (1Ahem district) and 11my. While in the 12thmy13my and 14my In the districts, the square meter fell between 8,800 and 9,600 euros. When buying, targeting these pleasant districts to live in can be a good option to take advantage of lower prices than in previous years. With a smaller budget, the most interesting districts remain the 18my19my and 20my districts with a price between 7,700 and 9,400 euros per square metre. On the other hand, the most expensive districts (6my and 7my) remain unaffordable for most households, with a budget of over 14,000 euros per square metre. Prices even reach 16,620 euros per square metre. around the Champs Elysees (8my).
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