Property prices take the lead
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. meilleursagents.com