Real estate prices are rising in France. In the third quarter they were up across the country for the third time, but this time more sharply. Properties went for 1.7% more on average than in the 2nd quarter (after + 0.6% in the previous quarter) representing a resurgent and dynamic market.
This price rise has been encouraged by historically low mortgage rates, encouraging a growing number of households to go ahead with purchases now whilst the rates are down low.
Notaries registered 838,000 transactions for the year to end September, against 755,000 a year earlier, a sales volume that exceeds the historic high levels of 2006 and early 2012.
The notaries have confirmed that this recovery began in spring 2015. “This improvement is corollary to higher prices,” they noted.
This trend is particularly pronounced in Paris , which is often a precursor to the growth of prices across wider France. In the capital, transaction volumes have also reached high levels, comparable to the boom years of 1999-2006.
These are 10,000 sales that were made between July and September, 11% more than the previous quarter.