Monday, April 10, 2017

France - record high property prices?

Two reports in France's LeFigaro* newspaper higlight the continued rise in French property  prices - now at record levels in major French cities, and why it is a good time now to put your property on the market if you are thinking of selling.

First, property prices approaching record levels.  The evidence is onverhwelming, and following a recovery of the property market in 2016 - by over 5% in the Paris area and over 2 per cent elsewhere - the trend seems to be continuing in the first three months of 2017, despite the common belief that election years are bad for property sales (the French go to the polls in two weeks to begin the process of electing a new President and a new parliament).

Paris still holds the record for the highest average price per square metre - currently just over 8,500 euros , followed by Nice (3,800), Lyon (3,440), Bordeaux (3,2776) and Toulouse (2,640). Most of these prices reflect an increase of 5% or more over 2016.

Traditionally springtime and the arrival of warmer weather help boost sales, as buyers prefer to get their house move organised and settle before the July/August holiday break and ahead of the la rentrée in September/October when children return to school and students start at university. Job changes are also popularly organised with a September start in mind and may involve a change of location.

Another group of buyers are the retired who need to get their house hunting done before the July/August recess when second homes may be occupied by their owners or let to summer tenants, and unavaialble for viewing. The traditional holiday period may also delay completion of the property sale as lawyers and much needed public officials themselves go on hliday. Hence the need to get your property selling or buying done before the end of June!


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