A fall in sales, prices in sharp decline… In Paris, here is how the real estate market is doing in 2024

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A year sullen. A few days before the end of 2024, Notaries of France have drawn up their traditional annual assessment of the French real estate market in a report published Monday December 16, 2024. The survey reveals a sluggishness of the sale of goodswhether they are apartments or houses. The situation is particularly delicate in Paris, where national trends are exacerbating.

Prices fall by 7% over one year

In the capital, sales volume fell by more than 20% over the last twelve months, a rate of 3 points higher than the French average. Since the health crisis linked to Covid-19 in 2020, this quantitative decline tends to become the norms.

This drop in demand has consequences on prix. In the capital he was cheaper to buy in December 2024 than in December 2023. Thus, the reduction amounts to -6,7 %a level higher than the national average (-3.9%) but lower than other metropolises, such as Bordeaux, Lyon or Nantes.

By studying price data on last five yearsParis (-4%) is the only city with Bordeaux (-2%) to see its prices to move back. But this dynamic does not mask the very high cost of housing.

The Notaries of France note that a monthly payment of 800 euros simply grants housing of 12 m2 in Paris, where the price reaches 9,490 euros per meter, compared to 111 m2 has Saint-Étienne. A surface area more than half as large as Nicethe second most expensive city in France, at this level.

In the same way, the cost of real estate may have taken several steps backwards, but potential buyers in 2024 will benefit from a surface area smaller than in 2014 (15 m2, -3%) based on the same monthly payment.

Prices on the rise since 2000

Furthermore, the study reveals that purchasing power has structurally declined over the last two decades. At the start of the 21st century, the real estate market benefited in particular from an economic situation carriermarked by low borrowing rates. A situation counterbalanced in 2008 by the economic crisis.

Then, from the mid-2010s, the market took on color again. Cycle phenomena which do not favor the purchase of workers or employees. Between 1998 and 2018, the share of old apartments purchased by these socio-professional categories fell from 15 to 5%, as revealed by the Notaries of France in July 2019.

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