There are new developments in the real estate landscape of major French cities and that’s saying something! The real estate prices are starting torebound on the whole territory.
A first in 5 years!
This year 2017, is indeed the first in 5 years to see prices rise. Between 2011-2016, the market saw the effect of experiencing a continuous decline. This recovery is however not uniform and only applies to very large cities. Indeed regional capitals like Bordeaux, Lyon, Marseille and Toulouse, follow the trend of their big sister Paris, which also shows a significant increase in its prices.
Bordeaux Wins Record, palm upward
With an average price of EUR 4,227 per square metre, there is an increase of 12.6% compared to last year!
The city is now accessible by train from Paris in record time, since 1st July 2017. While it used to take 3 hours to get to Paris, the capital is now more than 2 hours from the city, which is something to be reckoned with! Bordeaux has become unavoidable; its popularity has been continuously growing in recent years, as highlighted in the TGV’s announcement in 2016 and there are investors from all over France, even from around the world, who flock to this city which lies at the entrance to the south of France.
The apartments located in the most beautiful buildings and desirable areas are being snapped at this present time, for between EUR 5,000 and 6,000 per square metre.
The trend however is nothing new for the capital of Aquitaine which has already experienced a continuous increase in prices over the last 10 years. However, with an increase of 1% per month on average, the term “record” is not too much to qualify for a city that was elected last year to be acclaimed as “the most fashionable city in the world,” by the Lonely Planet website.
Paris, Representative of the General Rise
The city of Paris is the most expensive in France and maintains the lead standing on the price per square metre. The figures for 2017 were an average of EUR 8,814 to EUR 9,449 for an apartment or a house; yet it already exceeds EUR 11,000 per square metre, in over half of the districts. The average increase is 7.3%, year on year.
The City of light can also boast a small record in terms of trading volume on all of this year so far, 2017. The number of transactions has jumped up by 15% this year. This trend is not expected to wane anytime soon, especially since the announcement a few days ago of Paris to be host of the Olympic Games, in 2024.
Lyon, Nice, Marseille and Toulouse trends
Lyon shows an increase of 7.6% in 2017 and an average of EUR 3,582 per square metre for an apartment and EUR 3,905 per square metre for a house. Despite this however, the price difference can be significant depending on each borough, yet all sectors, without exception, have seen their prices rise. A real economic pool, the city attracts many job opportunities which it provides and welcomingly attracts by its dynamism.
The pink city of Toulouse does not escape the general trend. With its relaxed lifestyle and attractive surroundings, the TGV from neighboring Bordeaux will further add points to its appeal. Indeed the capital of Occitania, France’s fourth largest city, is now only 4 hours from Paris; this tempts even the Parisian executives who choose to live outside the capital. The price per square metre is on average, EUR 2,900.
The PACA region although popular, has not seen the luxurious small towns like St Tropez and Menton have any obvious price drop and its larger cities are following the national trend. Thus Marseille, with EUR 2,800 per square metre on average, is presented with a very significant increase in its prices of 3 of its districts, widening the gap between them and the less acclaimed districts, which in turn are undergoing a decline in prices within the same range.
In the deep south, Nice posts a price of EUR 4,100 on average per square metre, which corresponds to an increase of 3.6% compared to last year. Toulon meanwhile, with its average of EUR 2,300 per square metre, can boast of the city’s, most affordable seaside. Not far away is Montpellier, a regional capital that is seeing a price drop. The price per square metre is an average of EUR 2,900. With an average decline of 1.4% this year, one can not speak of any significant decline but just rejoice that this very attractive city resists soaring prices and continues to offer great opportunities to buyers.
A strong signal
Not far away is Montpellier, a regional capital that is seeing a price drop. The price per square metre is an average of EUR 2,900. With an average decline of 1.4% this year, one can not speak of any significant decline but just rejoice that this very attractive city resists soaring prices and continues to offer great opportunities to buyers.
Fynis International Mortgages
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