In 2024, the fall in real estate prices, coupled with a reduction in interest rates, will restore purchasing power to buyers. Here are the cities where these declines were the most significant.
Lovers of great real estate opportunities can rejoice! 2024 marked a new stage in the decline in housing prices, making access to property more accessible in many cities. After years of continuous growth which had slowed down transactions and discouraged many potential buyers, the tide has turned. With plummeting interest rates and falling prices, the time seems ideal to realize a real estate project.
After a year 2023 marked by a significant crisis, the old real estate market attempted to recover in 2024. Conditions of access to credit have improved, with interest rates rising from 4.20% in 2023 to 3.37% in 2024, according to the Crédit Logement Observatory. This development allowed to improve the solvency of buyers and to mitigate the decline in prices in recent months.
The rest after this ad
These cities where real estate prices have fallen
However, prices continued to fall in the majority of major cities. Only Paris (+2%) and Nice (+0.7%) are exceptions, according to data from the Bien’Ici barometer from BFM Business. Among the cities where the decline is most marked, Strasbourg comes first with a price decline of 5.2% in 2024. Grenoble, Nantes et Rennes follow closely, recording a decrease of 4.8%.
Other major cities have also seen their prices drop significantly: Lyon (-3,5 %), Montpellier (-3,8 %), Marseille (-2,8 %) et Toulouse (-2.9%). In Saint-Étienne, Bordeaux and Angers, the declines are more moderate, respectively -1.9%, -1.8% and -0.6%. Finally, prices in Lille remain almost stable, with a slight drop of -0.1%.
The rest after this ad
A varied situation in medium-sized towns
In medium-sized cities, the price reductions displayed are sometimes even more marked. Reims recorded an impressive decrease of -6.4%, while Havre, prices fall by -5%. Boulogne-sur-Mer and Colmar follow with a drop of -3.5%, ahead of Aix-en-Provence (-3.4%), Nîmes (-3.3%) and Toulon (-2.1%). In Rouen, the drop is more limited, reaching -1.4%. On the other hand, certain medium-sized cities are experiencing an increase in prices in 2024: Dijon (+0.4%), Caen (+1.6%), Gap (+1.2%) and Mulhouse (+2%). On the northern coast, spectacular increases are observed, notably in Dunkirk (+7.4%) and especially in Calais (+12.6%).
The decline in prices and the easing of financing conditions contributed to a timid recovery in sales. “While high prices previously slowed down transactions, the situation has radically changed,” highlights the Laforêt agency network in its annual report. The number of transactions increased by 7% on average in 2024, with a particularly marked increase in Paris (+11%) and an increase of 5% in the regions. “Sellers have now become aware of the need to accept negotiations, in order to take advantage of a much more favorable context than a few months ago,” adds Laforêt.
Passionate about women’s news, Agathe has been deciphering the latest trends for aufeminin since 2022. Her favorite areas? Psychology, nutrition and well-being advice, without forgetting the tips…
Belgium
Related News :