The French dream becomes more accessible: the decrease of housing prices is breaking the records
February 21, 2024
6
We explain the consequences for ordinary buyers and investors.
What has happened
At the start of 2024, property prices in France were falling at the fastest rate in over 5 years.
Price reduction in numbers
-1.0% per year from August 2022 to August 2023
-3.0% from November to November respectively
The prices of older houses in urban areas of France (-3.8%) are falling faster than in rural areas ( -1.9%).
Forecasts for 2024
Apartment prices would be stable in Lille, Marseille and Toulon.
Significant annual drops of at least 8% would be expected in Besançon, Mulhouse, Nantes, Angers and Rouen.
The Reasons for the market decline
Unhealthy market conditions. From September 2022 to August 31, 2023, 955 thousand transactions took place across the country, which is 16.6% less than in the previous 12 months.
The Property Market in France between 2018 and 2022 experienced an unprecedented boom, with property prices increasing by +27.8% and the rolling average of property sales topping over 1 million in 13 out of the 20 quarters. So there was bound to be a correction at some point.
French banks have practically stopped lending to buyers by tightening mortgage conditions. During 2022, the French Government and Banque de France introduced regulatory rules which restricted new mortgage loans to a maximum period of 25 years (previously the maximum was 35 years) and capped the amount that could be borrowed to 35% of the borrower’s income, minus all other loans. So in general, “even if you want it, you won’t take it.”
The key points for investors
It is unlikely that prices will creep up within a year. In this case, it can be expected that a real buyer with the full amount in hand (that is, without a mortgage or loans) will receive preferences and discounts from sellers.
Here's what you may purchase in France right now:
10 000 000 €
Villa in Mougins, France
550 sq.m65
Spacious one-storey villa in Mougins, in a gated domain, in the middle of nature in peace and quiet, with beautiful views of the surroundings and the sea, a 15-minute drive to Mougins School International and Croisette Boulevard in Cannes. With a living area of 550 sq.m., the house includes a spacious living room with a fireplace, a fully...
An impressive private luxury estate with a total living area of about 2000 sq.m., with a plot of 30 hectares, with panoramic sea views. Located in the bosom of nature, in a unique atmosphere of peace and quiet of the hills of Saint-Jean de Cannes, the estate, built in 2011, is securely hidden from prying eyes and offers its owners a high level...
Country estate of 118 hectares, located in the middle of nature and forest, in a quiet secluded place, 40 km from Nice and 60 km from Monaco. The estate has a total living area of about 1000 sq.m. it includes 4 buildings: a 2-storey forest house with an area of 235 sq.m. overlooking the mountains and green surroundings; a 2-storey farmhouse with...
Sole agent. Situated on the hills of the delightful seafront Théoule-sur-Mer village, this family home benefits from a dominant position facing the sea and the mountains, bordering the Esterel natural park. 475 sqm of floor space ( 333 sqm Loi Carrez ) the house is built in 1992 and is arranged over three floors with an elevator. It sits...
Sale ultra-modern house located in a quiet area on the heights of Cannes, enjoying panoramic views on the bay of Cannes and the Esterel mountains. On 3200 m² of land, the villa of about 700 m² offers: a triple living room of 150 m² opening onto a terrace with an infinity pool, an equipped kitchen, 7 bedrooms all with ensuite...
This luxury villa is located in one the French Riviera’s prestigious area – in Saint-Jean-Cap-Ferrat and enjoys beautiful sea view. The house of 330 sqm offers 5 bedrooms each with its bathroom, a living room with fireplace opening onto a terrace, separate fitted kitchen with dining area. The property is completed with a swimming...
For sale is a four-room apartment with an area of 100 sq.m. with two balconies of 7.63 sq.m., a storage room and Parking for 2 cars. The apartment is located on the fifth floor of a new building in Beausoleil, with an exceptional location - right on the border with Monaco and its Golden Square district. Monaco starts right across the street....
For sale an estate with a tennis court and a swimming pool, with beautiful views of the sea and the Gattiere Castle, located on the hills of Saint-Jeanne, a 15-minute drive from Nice airport. The estate consists of a main villa with an area of 430 sq.m., a house for a caretaker or guests with an area of 110 sq.m., lies on a well-maintained...
New apartment for sale, in a new residence on the hills of Nice with a beautiful view of the sea, the city and the hilly surroundings. A four-room apartment with a living area of 85 sq.m., with a terrace of 34 sq.m. and a private garden of 56 sq.m. is located in a newly built three-storey house of modern architecture, including 16 apartments,...
Magnificent modern villa located in one of the most prestigious locations of Cap Ferrat, a few minutes from the Grand Hotel and the beaches. The property has superb sea views and a lush environment. House with a living area of 250 m2 on a plot of 2095 m2. Rooftop pool with solarium. Large reception area with living and dining area opening onto a...
Magnificent modern style villa located next to the prestigious Grand Hotel du Cap in the quietest Mediterranean landscape with south facing sea. The living area is approximately 350 m2 with large bright living and dining area, fully equipped kitchen, study, 4 en-suite bedrooms, sauna, games room, large solarium terrace, 1900 m2 of flat and...
We present this beautiful property in excellent condition, located close to the Grand Hotel. Recently refurbished with high quality materials, this villa offers a spacious living and dining area, separate kitchen, 6 bedrooms and 6 bathrooms. The house has a studio, a guest room with its own bathroom, dressing rooms and a technical room. Large...
Only now - unprecedented offer! Price is shown without discount!
Exceptional villa of 232 m2, located a few minutes from the prestigious Grand Hotel in Saint-Jean-Cap-Ferrat.
The main house consists of an entrance hall, a large bright living room with a fireplace, a dining room with an American kitchen opening onto an open living room....
In the heart of the Cap Ferrat peninsula, 4 bedroom Provence style villa on a 14 acres flat scenic plot with a well maintained garden and a small staff studio.
The living area of the house is 230m2, with an open American style kitchen with a dining and living area on the ground floor, and a guest bedroom. On the second floor there are 3...
On the territory of the private housing complex Grand Roc (“GRAND ROC”), near Switzerland and Lake Geneva:
Construction of 7 new, identical and individual mountain chalets Type 3, with a living area of approximately 68.50 m² + 15.70 m² terrace and balcony, on 7 plots of 193 m², 278 m², 310 m², 312...
Private person
425 000 €
Flat in Cannes, France
42 sq.m211
Cannes, Palm Beach.
2-room apartment 100 m from the beach
VieBelle Immo France
1 795 000 €
Villa in Evian-les-Bains, France
320 sq.m744
Residence
Unique location in NEVETSEL
Located near the center of Evian, in the prestigious area of the ROYAL Hotel, this spacious house was built in 2001 and offers about 280 m2 of living space on a plot of 1593 m2.
The villa is filled with natural light and has a functional layout. From each room of the house there is a stunning view of the lake,...
Victoria Gaillard sarl
1 600 000 €
Villa in Saint-Tropez, France
41
Villa by the vineyards, with panoramic views of the hills and Alps, with a plot of about 6,000 sq.m., with a swimming pool and the possibility to land a helicopter on the estate.
The two-storey house in a modern style includes :
On the ground floor: a living room with large floor-to-ceiling windows, an equipped kitchen and an impressive...
SERVICEAZUR
450 000 €
Apartment in Nice, France
76 sq.m321
Rental property
Nice In a small condominium on the waterfront, we offer you this magnificent 3-room DUPLEX facing south/west, offering on the 1st level: entrance hall, equipped kitchen, large bedroom with wardrobe, bathroom with toilet, beautiful double living room on a corner balcony and sea view. On the second floor there is an attic bedroom, a shower room, a...
IMMOPS, Groupe AVS
448 000 €
Apartment in Nice, France
88 sq.m421
Nice. Magnificent 3/4-room apartment of 78 m2 + terrace+ parking+ basement, located on the third floor of a residence with an elevator in the elite area of Mont Boron. The advantages of a South/West-Northeast orientation. Completely renovated using high-quality materials, 3 rooms that can be easily converted into 4 rooms. It consists of a large...
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