A France cut in two. According to the national barometer of real estate prices published this November 1 by the estimator Meilleurs agents and the advertisement site SeLoger, apartment prices have decreased on average over the past year. However, in 22 of the 50 largest French cities, stone prices are increasing. After a year 2023 marked by an almost generalized decline, urban centers are starting to get their heads above water, driven in particular by the drop in borrowing rates linked to the decline in inflation. “If we compare the current dynamic to that of last year, we see that the bearish cycle is over. But the recovery will take a few more months and will not go at the same speed depending on the municipalities”underlines Thomas Lefebvre, scientific director of Meilleurs agents.
As you can see in the table below, prices per square meter as of November 1, 2024 are increasing in just half of the cities analyzed. The largest increases can be found mainly on the very popular Côte d'Azur. Antibes recorded the strongest growth over 12 months (+4.21%), followed closely by Cannes (+3.66%), two cities where prices are boosted by their tourist attractiveness and the presence of numerous real estate investors. “The Côte d'Azur is traditionally a market also driven by second homes, with older buyers less affected by the credit crisis», explains Thomas Lefebvre.
Medium-sized cities are not left out. Two municipalities in Center-Val de Loire are also experiencing strong growth: Orléans (+3.75%) and Bourges (+3.65%). They still attract families looking to get away from large cities while enjoying an affordable living environment.
Conversely, certain French cities have experienced marked declines, like Le Mans. The Sarthe capital shows a drop of more than 12% over one year, despite prices among the lowest on this list (1,754 euros per square meter). Demand still does not match supply in this town.
Price falls also affect most of the country's large metropolises, as evidenced by the drops observed in Lyon (-7.09%), Grenoble (-6.40%) and Nantes (-5.69%). In these cities, which have fully benefited from the real estate boom for years, the still very abundant offers are pushing prices down. Buyers are forced to lower their ambitions… or risk seeing future owners move to more affordable peripheral areas.
