Last year, more than a million real estate sales were recorded in France, and sales are already close to one million in the last 12 consecutive months, despite the economic uncertainty.
Another surprise, Paris is no longer the market leader in France. The capital is losing ground compared to other regions of the Ile-de-France region and to small towns, as more and more buyers see the value of buying larger houses and low credit rates .
Laurent Demeure, president of luxury real estate agents Coldwell Banker France / Europe, said Le Figaro: “Our homes are now where we live, work, raise our children and do our leisure time. ”
Prices have increased accordingly.
In Ile-de-France, house prices rose 9% between the first six months of 2020 and 2021, reports real estate agent Century 21, with properties sold within 64 days on average (a drop of 17 days compared to last year).
In the west of France, property prices also increased by 10 to 15% in Brittany, Normandy and New Aquitaine between the first six months of 2020 and 2021.
And nationally, house prices rose 6.8% and apartment prices by 4%.
As a result, real estate prices in central Paris fell almost 4% between the first six months of 2020 and 2021, according to Century 21.
The national real estate group The National Real Estate Federation estimated the decline at 0.9% over the same period.
Properties in the capital also take longer to sell (from 66 days to 70 days) and buyers can negotiate larger price reductions (5% off the sale price, compared to 3%).
Christine Fumagalli, president of the Orpi real estate agency, said there had been a change in the way owners use their property in Paris, as the capital “is becoming a city of transit, where people are looking for a foothold. ashore rather than a primary residence. “
Laurent Vimont, President of Century 21 added: “This is not the end of the Parisian market, it is not empty, but it is the end of excess. Paris is becoming a reasonable market, rather than a frenzy.
This could change as foreign buyers re-enter the market after the health crisis eases.
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