The prices of old real estate fell by 0.2% in the 1st quarter, according to the Notaires-Insee index which refers, the first drop recorded from one quarter to another since June 2015.
This is a drop not seen for nearly 10 years. The prices of old real estate fell by 0.2% in the 1st quarter, according to the Notaires-Insee index which refers, the first drop recorded from one quarter to another since June 2015.
Over one year, prices increased by 2.7%, a very sharp deceleration compared to the end of 2022 (4.6%), driven in particular by houses.
These continue to grow faster than apartments (+3.1% against +2.2%), as has been the case since 2020, but the gap is closing rapidly compared to previous quarters.
The trend has reversed
Moreover, in the first quarter of 2023 alone, the trend was reversed: the price of houses fell more than that of apartments (-0.3% against -0.1%).
In a context of inflation, real estate suffers from the rapid rise in interest rates, which heavily penalizes households having to borrow to acquire a property.
Prices over one year are now down in Ile-de-France (-0.6%), while they are still rising in the provinces (+3.9%) despite a pronounced deceleration.
The number of transactions over 12 months is estimated at 1.07 million, down sharply on the previous quarter (1.12 million) but still well above the historical average.
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