Friday, July 29, 2016

Home sellers in Paris - 40% are retired!

According to figures released by Notaires de Frances and reported in Le Figaro today, an analysis of actual property sellers shows that 60% describe themselves as 'executives' and some 40% as retired (one-third of them being over the age of 60).

Neither figure is surpising, given the average per-square-metre price of 8240 euros in the central districts, and that older owners - the post-war baby-boomer generation and the beneficiaries of stable employment up to the 1980s - have been watching their asset grow and are now cashing-in, and either downsizing and/or moving south to the sun. Regions such as Languedoc-Roussillon on the Mediterranean coast are among the fastest growing in France, and property prices still well below those of Province-Cote d'Azur.

Note also that currently only one-third of the population in Central Paris own their principal or main home, the remaining two-thirds being obliged to rent.......