The drop is spectacular. According to the barometer of the Real Estate Price Observatory and IAD, the prices of old apartments have fallen by -4.1% over one year on a national level to reach 3,860 euros per square meter on average in September. This drop in prices is mainly explained by a drop in demand over the last two years due to the increase in mortgage rates. Unfortunately for sellers, no major city is immune to the gloom since all of the 16 largest cities in the country have seen their prices fall over the last twelve months.
In detail, Lyon wins the prize for the biggest price drop (-9%). In September 2023, the price per square meter for an old apartment is negotiated on average at 4,860 euros in the prefecture of the Auvergne Rhône Alpes region. The price drop is also spectacular in Paris (-6.4%), Reims (-6.5%) and Nantes (-7.2%). Only the cities of Toulon (-0.9%), Strasbourg (-1.5%) and Rennes (-1.6%) have seen their prices stabilize over the last twelve months. As you will have understood, the prices of old housing have reached a low point in large cities, and buyers are now in a position of strength. As proof, the possible negotiation margins for buyers in the context of a sale have never been so high for 15 years.
>> Our service – Save money by testing our home loan insurance comparator (…)
(…) Click here to see more
Real estate: the French are finally getting back into buying, both new and old
Home loans: our advice to avoid getting scammed
Housing policy: are professionals right to be hopeful?
HLM: do you have the right to transfer your social housing to your children?
Will banks ease up on personal contributions?
