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Real estate: price drops are becoming widespread
Real estate: price drops are becoming widespread – (France 2)
With reductions of 5% to 20% on several properties, buyers are getting good deals. This could continue into 2024.
The real estate market is seized up and properties are being sold at significant discounts of 5%, 10%, even 20%. A 40 square meter Parisian apartment is currently under construction. This renovated property was purchased for 405,000 euros, 40,000 euros less than the displayed price. These situations are common for a real estate agent. The balance of power has been reversed. “There are more and more clients who dare to say to themselves: ‘I’m already going to calculate the price of my work, (…) I’m already going to negotiate that’”explains Romy Stepniewski, real estate agent.
A drop of 26% in Gironde for a property
Price cuts are becoming widespread. In the Rhône, a house of 118 square meters is offered at 249,000 euros, down 11%. In Gironde, the price of a 124 square meter property has fallen by 26%, because buyers are becoming rarer. In Ain, a house sold for 225,000 euros, with a 20% discount. “We didn’t think we’d sell it so little”, regrets Monique Carol, owner. The decline in prices could worsen in 2024, according to industry professionals.
Among our sources
- Real estate report 2023 by Notaires de France, published on December 11, 2023
- Olivia Gonin, real estate agent in Lagnieu in Ain
Non-exhaustive list
