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Upward pressure on French property prices ‘continues to increase’

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.”

Upward pressure on French property prices ‘continues to increase’

  • Simon Oliver

    Interesting ... but misleading figures for those looking for a 'lifestyle' property in the French countryside. These are still in free-fall with very few buyers faced with an enormous supply of blue-shuttered, roses-around-the-door properties. The canny ones are buying properties with gites or B&B rooms already up and running thus insuring a steady income with which to cover costs and supplement their pension.
    The trick is to disregard the asking price (which are all way too high), visit the property thoroughly and then make an offer you can afford.
    Bargains to be had in Gascony, Pyrenees and the Tan/Aveyron. Dordogneshire over-subscribed and still too expensive. Prices still have another 20% to fall.

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    This article is scary. Professor mouillard is known in France to be paid by the French housing lobby to advise everyone to buy despite the bad conjecture. He has no credibility whatsoever - on the opposite - everything he suggests is most likely the opposite of good advice.

    In France the baby boomers are becoming sellers (statistically) and if you check out the "indice de tension immobiliere" you will find out that prices will fall by a lot even if the papyboomers were not going to worsen things during the next 30 years by bloating the offer even more.
    In France, unemployement is rising, and jobs are more and more precarious (in 2014 we had 80%cdi amongst new contracts and now it has dropped to 15%... Banks don't lend to unsolvable people...) and even if you disregard that, a glimpse at the age pyramid will show you that there simply isn't enough youngs to buy to the old.
    Rates are as low as possible - sell now or suffer the consequence of the loss of market value of your goods when the rates rise again. (For memory when rates grow1% in France, prices drop 15% - and vice-versa)
    The recent drop in rates just hides the drop of 30% of buying power of buying power of house hunters.

    Now is the time to sell and not buy. Many French economists predict further drop of prices of 50 to 65%.

    Check out the governmental data on the CGEDD web site - "courses de friggit".

    This is just a brief warning in a comment. But do your research and please do not take mouillard seriously. He is as crooked as a fishing hook.

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    * Courbes de friggit

     
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    * Courbes de friggit

     
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