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Real estate: prices of old housing down 4%
Real estate: prices of old housing down 4%
(franceinfo)
In the fourth quarter of 2023, prices of existing real estate fell. This phenomenon is particularly visible in Île-de-France.
After years of increase, the prices of old real estate are plummeting with a drop of 4% in the fourth quarter of 2023. The fall in prices would concern apartments, whose prices fell by 4.1%, as much as houses, with a decrease of 3.8%. This phenomenon is expected to continue in the coming months. The main reason for this drop is the rise in real estate rates. “It makes access to real estate credit more difficult because it is a loss of purchasing power”explains a specialist.
Provence-Alpes-Côte d’Azur is spared
The decline is particularly strong in Île-de-France, with an annual drop of almost 7%, compared to 3% on average for the other regions. Prices are not only falling in Paris, but throughout Île-de-France. The Provence-Alpes-Côte d’Azur region is the only territory to escape this decrease, with a drop in prices of only 0.6%.
