Ris­ing to the chal­lenge

Living France - - The Essentials -

Arecord-break­ing num­ber of prop­erty sales was recorded in France in the first five months of the year, ac­cord­ing to the lat­est re­port from No­taires de France, while prices also continued to rise. The num­ber of sales com­pleted in the 12 months to May 2017 reached a new high of 907,000, over­tak­ing the 824,000 trans­ac­tions recorded in May 2016 and the pre­vi­ous high of 837,000 in May 2006. Although the fig­ure of 907,000 con­sti­tutes a new record, it does not take into ac­count the amount of new hous­ing built in the in­ter­ven­ing years, which is es­ti­mated at a growth of 1% per year, the re­port says. The num­ber of trans­ac­tions would need to reach 930,000 in or­der for the mar­ket to be as dy­namic as it was in 2006, when a record 837,000 sales were made, but this fig­ure could well be achieved in the com­ing months.

The re­port also showed that there are plenty of prop­er­ties avail­able in France and that they are selling quickly with­out much ne­go­ti­a­tion, and this in turn is boost­ing prices. Re­sale prices have continued to rise in the first quar­ter of the year; up 1.6% from the last quar­ter of 2016 and up 2.7% year-on-year.

Year-on-year, apart­ment prices have risen more than house prices, which are up 3.2% and 2.3% re­spec­tively. Apart­ment prices have fallen in a num­ber of cities in­clud­ing Le Havre (-9%), Brest (-7%), Di­jon (-4%) and An­necy (-1%). Else­where, prices are sta­ble or ris­ing. Bordeaux recorded the big­gest in­crease (+15%), while Be­sançon, Stras­bourg, Nancy, Mar­seille and Lille recorded sig­nif­i­cant in­creases of be­tween 5% and 10%.

While house prices have fallen in Toulouse (-5%), Dunkirk (-4%) and Avi­gnon (-3%), prices have else­where in­creased. Amiens recorded the big­gest rise (+15.9%), fol­lowed by Nancy (+10%), Bordeaux (+8.7%) and Tours (+7.9%).

The prop­erty mar­ket re­mains very ac­tive in Paris, Lyon and Bordeaux ( pic­tured above), with the lat­ter now re­plac­ing Nice as the most ex­pen­sive city in France af­ter the French cap­i­tal.

The price in­dex pro­jec­tion for the end of Au­gust 2017 based on pre-con­tracts through­out France sug­gests that this up­ward trend is set to con­tinue. no­taires.fr

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