The French property market continues to rebound

The market for resale properties in France would appear to be continuing to come out of the downturn. The third quarter of 2015 was particularly active.

In late September 753,000 transactions were recorded over the last twelve months, 4.2% more than last year in the same period, find the French notaries.

“The French have a little more confidence in the future. And extremely low rate mortgages continue to support the trend, “says Jacky Chapelot, deputy president of the FNAIM.

This improvement is also beginning to show within prices too. In the third quarter, they were up 0.5% from the previous three months, according to the index Notaries-INSEE. In one year, the decline eases, prices falling by 1.5% (- 1.7% for apartments and – 1.4% for houses).

“Prices move piecemeal since the third quarter. They ride in some cities such as Paris, Montpellier, Bordeaux or Toulouse, but they still fall to Marseille or Nice and many medium-sized cities,” noted Jacky Chapelot.

“The market remains difficult in the outskirts of small towns and in rural areas, where prices have often fallen from 10% to 20% and sometimes even 30%.”

The real estate recovery is particularly strong in Île-de-France. Between July and September, 46,600 homes were sold, or 25% from the third quarter of 2014.

“This corresponds to a level of activity of neighbor that found during the high period 1999-2007” indicate notaries. However, “the annual performance will be less than 14% in the boom years as the beginning of the year has been poor,” relativized Thierry Delesalle, notary in Paris.