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Real estate: a drop in prices of 5.2% in one year
Real estate: a drop in prices of 5.2% in one year
(franceinfo)
Real estate prices are falling, especially in Île-de-France. They fell by 5.2% between the first quarter of 2023 and that of 2024. But the real estate market continues to slow down.
Buying an apartment or a house costs less than before. Between the start of 2023 and the start of 2024, prices fell by 5.2%. The decline is increasing over the quarters, according to figures from INSEE and Notaries of France. This trend is particularly marked in the Île-de-France region, where prices have fallen back to their mid-2019 level. In Paris, prices have even fallen below the symbolic bar of 10,000 euros per square meter in certain districts.
Not enough to wake up a housing market at half mast, according to Elodie Frémont, notary in Paris and president of the Real Estate Statistics Commission. “On the sellers’ side, we are waiting for prices to rise again. (…) And on the buyer side, we are waiting for better solvency. That means falling interest rates. But rates at 0.90, 0.80 or even 0.40, we will not find them by the end of the year“, she explains.
