In 2023 and early 2024, the real estate market was very favorable to buyers. First of all, there were fewer of them, while the choice of properties for sale was much wider. “Announcements were up 40% in the second quarter of 2023 compared to the same period in 2019, the last stable year before Covid,” says Régis Sébille, head of analysis for the classifieds site Bien’ici.
Buyers also had more time to make up their minds, as properties for sale sold less quickly. Listing time is at its highest in five years, with an average of 84 days in September, 3.5 days more than in the second quarter of 2024 and 7 days more than in the summer of 2023.
Finally, prices, which were down, were also favorable to buyers. Let us recall that Paris suffered its biggest price drop since the beginning of the century (–14.1% since 2020) and that a large number of cities saw the market slow down. “But don’t expect prices to fall significantly, especially in the Ile-de-France region.”estimated the notaries of Greater Paris during their press conference on September 10.
Mortgage credit is picking up again, which will bring more buyers to the market. There will also be fewer properties for sale: listings are becoming scarcer, particularly for apartments, with a drop of 11% between summer 2023 and summer 2024.
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However, there are still great opportunities for buyers, provided they are prepared. The first step is to have your budget validated by your bank, a credit broker or, better yet, have the funds. “A buyer who buys without a suspensive credit clause has excellent negotiating power”says Eric Allouche, executive director of ERA France.
Energy-intensive housing
While this varies greatly depending on the region, the condition of the property and the seller’s wishes, the LPI-iad barometer of August 2024 indicates that negotiation margins can be as high as 9%. In Burgundy, Limousin, Poitou-Charentes and Rhône-Alpes, it is even higher than 9%. It is in Lower Normandy that it is the lowest, with a rate of 6.8% for apartments and 5.2% for houses.
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The margin for negotiation is particularly important when it comes to housing requiring work or energy-intensive housing, i.e. rated F or G in the energy performance diagnosis (DPE). In this case, the GoFlint advertising portal indicates that the discount can reach 19% compared to energy-efficient housing.
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