SALES REACH NEW HIGH

Living France - - The Essentials -

In­ter­est in the French prop­erty mar­ket is con­tin­u­ing to rise, with sales reach­ing a 10-year high ac­cord­ing to the lat­est re­port from No­taires de France. A to­tal of 867,000 prop­er­ties were sold in the last 12 months, up 7.7% year-on-year and topping the peak fig­ure of 837,000 that was recorded in May 2006.

How­ever the re­port notes that the in­crease should be put into per­spec­tive with the rise in the num­ber of prop­er­ties in France. Although to­tal sales rose by 19% be­tween 2000 and 2016, sales of older prop­er­ties over the same pe­riod only rose by 7%.

The re­port sug­gests that the prop­erty mar­ket is ben­e­fit­ting from var­i­ous fac­tors. Low mort­gage rates, con­tin­u­ing tax breaks and eas­ier terms for ob­tain­ing in­ter­est-free loans are sus­tain­ing a sta­ble and at­trac­tive mar­ket.

Prop­erty prices are also con­tin­u­ing their up­ward trend with a year-on-year in­crease of 1.7% in the fourth quar­ter of 2016 on re­sale prop­er­ties (older homes rather than new-builds). The re­port also re­vealed that apart­ments rose in price by 1.9% and houses by 1.5%.

Only three ma­jor French cities saw a de­crease in apart­ment prices over the year – St-Éti­enne, Toulouse and Mar­seille. Bordeaux has seen a 11.2% rise in prices over 2016, thanks in part to its im­pend­ing launch of a new high-speed rail link with the French cap­i­tal. Sharp rises were also recorded in Stras­bourg (6.8%) ( pic­tured above) and in Lyon (6.2%). no­taires.fr

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