Real estate prices continue to decline all over France, according to the latest barometer from the platform Meilleurs Agents. This trend is particularly true in cities like Bordeaux, Strasbourg, and Toulouse. However, in some metropolitan areas such as Rennes, Nantes, and Lyon, prices are stabilizing.
The price of real estate properties continues to decrease in a large part of the country. The latest barometer from Meilleurs Agents shows that the average price per square meter in France is 3101€/m2, representing a 0.1% decrease as of March 1st compared to the previous month. This decline is particularly significant in Paris, with prices dropping by 0.7% in one month (-6.6% in one year).
Overall, prices within the top 10 largest cities in the country continued to decrease by 0.1% during the month of February, “but at a slower pace,” according to the barometer, which highlights two trends in France. On one hand, the decrease in prices is noticeable, as seen in cities like Bordeaux (-0.9%), Strasbourg (-0.8%), Toulouse (-0.8%), and Marseille (-0.5%). In other cities, prices seem to be stabilizing, with changes of +0.1% in Rennes, +0.2% in Nantes and Lyon, and +0.3% in Lille and Montpellier.
Rural areas are also affected by this price decrease trend in February. Over six months, there has been a decrease of 1.7%, “a first since 2015,” notes the barometer. After the Covid crisis, the real estate market in the countryside experienced a boost which now seems to be ending, “in a banking context that remains tense,” as highlighted by Meilleurs Agents.
As of March 1st, 2024, the Meilleurs Agents barometer observes that prices are either declining or stabilizing in the main cities of France.
In this context, the average time to sell a property has increased in the eleven largest cities in France, going from 59 to 77 days. “None of these metropolises now record an average selling time of less than two months,” notes the barometer, attributing this to sellers not accepting the current market conditions. This leads them to take longer than usual to reach an agreement with buyers.
A. Lo.
