In their latest report on the real estate situation, the notaries observe that the volume of transactions for old homes seems to be stabilizing at a high level after an estimated record of around 1.2 million sales in 2021. Knowing that many French people have accelerated the year last the realization of their real estate project, often in connection with the consequences of the health crisis, the notaries believe that this volume of transactions of old housing could recover towards a reference threshold between 1 and 1.1 million sales in the months coming, which is still very high.
Prices still rising
In terms of prices, projections from sales promises in mainland France currently indicate a continued rise at an annual rate of +5% for apartments and around +10% for houses. Over the last few months, the rise in prices should nevertheless be a little less marked with changes over 3 months of the order of +1% in apartments and +2% in houses.
Notaries point out that the low production of new homes for several quarters contributes directly to the rise in prices of old properties, even more so in areas where stocks of properties for sale in old properties are dwindling. In this respect, the resumption of building permit authorizations and housing starts for about two quarters nevertheless augurs well for a rebound in sales of new collective housing this year.
Bordeaux stagnates
These projections of the preliminary contracts always highlight a catch-up in prices in cities and medium-sized agglomerations such as Angers, Limoges, Dijon or Saint-Nazaire to the detriment of certain large cities. Notaries also estimate that cities like Bordeaux (4,700 € per m² on average for apartments and 400,000 € median price for a house) have probably reached a peak and will experience a stabilization of prices, or even a slight decline.
Paris seems to be in the same situation with prices still peaking at more than €10,500 per m² on average. In Dijon, the average price per m² is now approaching €2,500 for apartments, while the median price of an old house remains attractive at €260,000.
to know
Among non-resident foreign buyers of housing in mainland France, notaries have observed (based on transactions in 2020) a lesser presence of the British, now closely followed by the Belgians. Germans remain the third most represented nationality in purchases of existing homes by non-residents.