The French dream becomes more accessible: the decrease of housing prices is breaking the records
February 21, 2024
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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
650 sq.m66
Step into the serenity of this 550 sqm villa, located within a secure, gated 2-hectare estate in the tranquil Mougins area, a mere 20 minutes from Cannes and the Mougins International School. This single-level, fully renovated family home sits amidst a lush 20,000 sqm wooded park, offering both privacy and an open view of the surroundings. The...
One of the finest estates of the French Riviera, extending over 30 hectares, offering unparalleled privacy and peaceful seclusion. The elevated position affords it sublime tranquillity and far-reaching views over the bay of Cannes, the Lerins Islands and the Esterel Mountains. - Offering abundance of living space, this prestigious property...
Countryside manor surrounded with 118 hectares (292 acres) of country surroundings in complete silence and tranquillity just 40 km from Nice. The property comprises 4 homes of 1 000 m² of land area; a 2-story manor of 235 m² with its beautiful view of the surrounding mountains and green landscape; 2-story farmhouse with outbuildings...
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 on over...
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 bathroom and...
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 pool and a...
New development in Beausoleil, on the border with Monaco and its Golden Square district, a 5-minute walk from Casino Monte-Carlo, comprising only 40 apartments, from studios to 6-rooms flats, from 30 to 160 sqm, with balconies, individual parking spaces and private cellars. Perfect location, Monaco is right across the street from the building....
Beautiful quiet family estate on the hills of La Turbie, a 15-minute drive from Monaco. Offering a lovely view of the green lushy hills and large volumes with a total area of approximately 1200 sqm, the property consists of 3 reception rooms, dining room, 7 bedrooms including 4 master suites, 7 bathrooms, office / library, 2 kitchens. This...
New tree-bedroom apartment for sale, located in a new residence on the heights of Nice enjoying beautiful views over the sea, Nice surroundings and hills. The flat offers 83 sqm of living space, a terrace of 46 sqm and a private garden of 160 sqm. This new construction of modern architecture includes 16 apartments and features a park and a...
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...
An ideal object for an investor is a fully renovated apartment with the possibility of using a tax preferential deficit.
On the second floor with an elevator in a stone building, ideally located on a quiet street just a stone's throw from Pereyre Square, transport and shops on Courcelles Street.
The apartment has a good layout and eastern...
Victoria Gaillard sarl
1 900 000 €
Apartment in Cannes, France
166 sq.m531
Credit 0.85-1.85%
This magnificent south facing villa apartment of 166 m2 of living area, completely renovated in 2023 by the renowned firm RH DESIGN, is located in the most prestigious gated community La Croix des Gardes with 3 hectares of parkland, swimming pool and tennis court.
The apartment consists of: entrance hall, living room, dining room, three...
RFC ESTATE
294 500 €
Flat in Nice, France
45 sq.m211
The program for the construction of new housing in Nice
VieBelle Immo France
519 000 €
Apartment in Antibes, France
67 sq.m321
Online ViewingRemote TransactionRental property
New building in Antibes - Juan-les-Pins, 800 m from the sea!
Ideally located between Nice and Cannes, Antibes offers a unique place to live in the heart of the Cote d'Azur.
The residence is located in the western part of the city, less than 10 minutes* from the historic city center, in a privileged location in a quiet residential area, and...
VieBelle Immo France
317 000 €
Apartment in Antibes, France
37 sq.m211
Online ViewingRemote TransactionRental property
New building in Antibes - Juan-les-Pins, 800 m from the sea!
Ideally located between Nice and Cannes, Antibes offers a unique place to live in the heart of the Cote d'Azur.
The residence is located in the western part of the city, less than 10 minutes* from the historic city center, in a privileged location in a quiet residential area, and...
VieBelle Immo France
550 000 €
Apartment in Antibes, France
70 sq.m321
Online ViewingRemote TransactionRental property
A new program in Antibes
Ideally located between Nice and Cannes, Antibes offers a unique place to live in the heart of the Cote d'Azur.
A few minutes from the city center, Fort Carre, Port Vauban and beaches, apartments with spectacular sea views in the heart of a landscaped park.
Apartments from 2 to 4 rooms with large terraces....
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