Upward pressure on French property prices ‘continues to increase’

Upward pressure on French property prices ‘continues to increase’

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Residential property prices have increased across most regions of France so far his year, with huge differences recorded around the country.

Property price growth in Bordeaux, for instance, has significantly outstripped the national average, to rise to a record high.

According to the latest data published by French property website seloger.com, the capital of the Gironde region is the French city that has seen the greatest increase in prices this year, with the average price of a home in the region rising by 7.1% year-on-year, helping to make Bordeaux the fourth most expensive French city in which to buy property after Paris, Nice and Lyon.

The average price of a property in Bordeaux is now up to €3,571sqm (£2,995swm) which is higher than the average of around €3,292sqm (£2,760) for the rest of the country.

In total, property prices have increased so far this year in 80% of towns and cities across France, with places like Strasbourg and Toulouse having recorded among the greatest level of capital growth, up by around 4% year-on-year.

In Paris, the most expensive city to acquire property in, prices are up by around 1.2% on average, while Lyon saw growth of 1.9%, prices in Montpellier rose by 2.1% and in Nice they jumped 3.9%.

Bucking the upward trend, cities such as Rennes, Grenoble and Besancon are among those places to see the greatest level of property price depreciation, with average home prices down by between 3% and 5%.

Michel Mouillart, economy professor at the University of Paris-Ouest and spokesperson of LPI-SeLoger, who carried out the research, commented: “The rise [in French property prices] has sped up since the beginning of the summer and the pressure on prices continues to increase.”

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