In just one year, the number of new-build properties sold jumped 18.7% (June-June) in France signifying a nine year high for the French construction market.
France’s Ministry of Environment has published some compelling figures on the sale of new-build properties in France confirming the newfound health in the property market.
Just over 33,000 units were sold in the second quarter, a jump of 18.7% compared to a year ago. At the same time, the number of homes for sale has increased by 24.2% to 35,900 units, its highest since 2007.
Broken down by property type, the increase in sales totaled 18.1% for apartments (30,300 units) and 26.8% for detached houses (2,800 units). It’s worth noting that whilst sales have increased, the volume of stock has remained the same, unchanged at 92,600 with the increase in sales significantly reducing the reduced the available supply.
This will no doubt continue the creeping trend of rising house prices, a relatively new thing for the French property. Selling prices, meanwhile, have changed little over the year, up 0.3% to an average of €3,930 per square meter.