2023-05-19 04:00:14
After years of rising, average real estate prices are now on a downward trend or stagnating over a large part of the territory. For the last three months of 2023, the latest barometer from the National Real Estate Federation (Fnaim), published on April 19, estimates that the decrease was 1.3% in Paris and 0.7% in Ile- of France. For the province (excluding overseas regions and departments), Fnaim reports a virtual status quo during this period (+ 0.3%).
“But these figures are averages which hide a very great heterogeneity”, temperate Audrey Marigliano, real estate and credit director of wealth management advisor Laplace. ” Each real estate market is unique, each property is too, and prices can vary greatly from one street to another. Some goods will not go down”she assures.
Well-located homes are the least likely to see their prices fall. After all, the three most important criteria for the value of a home are “location, location and location”, as real estate professionals like to repeat. In geographic areas where demand is greater than supply and where properties for sale are therefore scarce, prices should continue to rise.
“This is the case for a large part of the coastal towns, which were very attractive during the Covid period”, says Audrey Marigliano. Ditto for mountain towns, where new constructions are practically non-existent, while the attraction for winter sports is undeniable. “We can cite cities like Méribel or Val d’Isère. Housing that is extremely expensive is still in great demand and the market shows no signs of weakness”notes Richard Tzipine, Managing Director of Barnes, a network specializing in luxury real estate.
Sea or Eiffel Tower view
Other areas that are expected to keep prices high: the French Riviera and the French Genevois. Prices remain up 7.4% over one year on average for the Provence-Alpes-Côte d’Azur region, according to the Fnaim barometer and the major cities of the South-East such as Nice (+ 7.8%) , Montpellier (+6.2%) and Marseille (+6.6%) held up well.
Same thing for cities like Rennes (+ 1% over three months and + 2.6% over one year), Nantes (+ 0.7% / – 0.6%), Bordeaux (- 0.1% / + 0 .9%), Lille (-0.9%/+5.9%). If the public has shunned them a little recently, demand is still strong because economic activity, large hospitals, universities are concentrated there. “Attractive medium-sized cities where the quality of life is good, such as Angers, Tours, Dijon, Le Havre, should not decline either”also believes Stéphane van Huffel, managing director of the Leemo platform, specializing in rental investment.
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