The latest economic report from the Chambre des notaires du Grand-Paris, published this Thursday, November 28, shows a drop in sales volume of 10% in Ile-de-France, between the 3rd quarter of 2023 and the 3rd quarter of 2024 We can nevertheless console ourselves by remembering that the decline was 22% in the first quarter and 17% in the second. If this trend continues, a recovery could therefore take shape.
To explain this beginning of awakening, the Chamber evokes the “slight decline” home loan rates, easier access to credit and falling prices, which still showed a decrease of 5% in the 3rd quarter, compared to almost 8% at the start of the year. “According to leading indicators on pre-contracts, a price drop of around 1 to 3% in one year is expected by January 2025,” is it already anticipated.
It remains that “wait and see always restricts activity and transactions are dictated by necessity”, insist the notaries. Divorce, death and debts, these are the 3Ds that are making the market at the moment, with negotiations dragging on. Among the buyers, “fewer and fewer first-time buyers”. In this context, the Chamber sees the increase in transfer taxes for valuable consideration (DMTO, taxes paid during a real estate purchase) provided for in the finance bill as “a negative message to buyers and all players in the real estate chain”.
Seine-Saint-Denis shows a sharp drop in apartment sales
Among the inner-city departments, the trends are contrasting. Seine-Saint-Denis thus shows a 21% drop in apartment sales between the 3rd quarter of 2023 and the 3rd quarter of 2024, compared to only 7% in Val-de-Marne and 8% in Hauts-de-Seine.
House sales: Val-de-Marne is doing well in 2024
Regarding house sales, Val-de-Marne has the luxury of an increase of 1% over one year, compared to declines of 7% in Seine-Saint-Denis and 5% in Hauts-de-Marne. Seine.
Contrasted price drops within the same department
In terms of variation in prices per m2 of non-new apartments, the dynamics differ from one municipality to another, within the same department. We thus observe a fall of 6.6% in Créteil compared to only 1.9% in the neighboring town of Maisons-Alfort, and of 6.8% in Montreuil compared to only 1% in Pantin. Overall, prices remain highest in Paris and Hauts-de-Seine.
The trend is also mixed regarding the sale prices of pavilions
See all the figures in Ile-de-France
