Prop­erty prices take the lead

Living France - - LES PRATIQUES -

The French prop­erty mar­ket is grow­ing ahead of May’s pres­i­den­tial elec­tions, with prices ris­ing in ma­jor ci­ties across the coun­try, ac­cord­ing to the lat­est re­port from MeilleursA­gents. Fig­ures from the study re­veal that prop­erty prices in Paris in­creased by 1.2% in Fe­bru­ary alone while a 2.3% month-on­month in­crease was recorded in Bordeaux.

Data also shows an an­nual price growth of 5.4% in Lyon ( pic­tured above) and a year-on-year rise in ci­ties in­clud­ing Nantes (4.3%), Mar­seille (2.1%), Mont­pel­lier (1.7%), Toulouse (2.1%), Stras­bourg (1.1.%) and Nice (1.3%). In Lille, a year-on-year in­crease of 0.8% was recorded, fol­low­ing a pe­riod of de­cline in the first two months of the year.

Ac­cord­ing to the firm’s in­dex re­port, cur­rent low in­ter­est rates are be­lieved to be boost­ing the mar­ket. It’s also thought that the num­ber of first-time buy­ers is push­ing the vol­ume of sales to their high­est lev­els since the eco­nomic cri­sis in 2007. The lat­est re­port also re­veals that the up­ward mo­men­tum was not re­flected in ru­ral ar­eas, which are still ex­pe­ri­enc­ing slug­gish ac­tiv­ity.

In the cur­rent cli­mate of at­trac­tive in­ter­est rates and po­lit­i­cal in­sta­bil­ity, the re­port in­di­cates that buy­ers feel com­pelled to buy now be­fore prop­erty prices in­crease even fur­ther. Prices in ci­ties are ex­pected to re­main high un­til the pres­i­den­tial elec­tions take place. The evo­lu­tion of the prop­erty mar­ket be­yond this pe­riod will largely de­pend on the out­come of the vote and when the tax de­ci­sions of the next gov­ern­ment are known. meilleursa­

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