Dreaming of an apartment in Paris? A rustic cottage in the countryside? Wherever your fantasies take you, it is important to stay on top of what the property market is doing in France.
The Rundown
Currently, the median price for houses on the market is €267,500 (RealAdvisor). The asking price for French homes falls within range between €127,649 and €619,500.
To break this down a little further, for houses, the median price is €308,851. The asking price for 80% of properties falls within the range between €179,000 and €730,000.
Meanwhile, the median price for apartments is €308,851. The asking price for 80% of properties falls within the range between €179,000 and €730,000.
In the third quarter of 2022, properties (not including new builds) were 7.4% more expensive than they were in the same period, a year before.
Furthermore, year after year, the house price growth rate has been similar (+6.4% after 7+ the previous quarter).
What kind of property are you looking for?
What are properties prices doing in specific areas?
Let’s take a look at the price per metre for properties in some of our favourite areas.
Paris
There is no real way of getting around that if your dream is to live in an apartment in Paris, the figures are going to be steep. According to Numbeo, to buy an apartment in the city centre, the price per square metre is €12,367.62. On the upside, Paris is 5.22% cheaper to live in than London.
Montpellier
Located in Southern France, and 10km inland from the Mediterranean Sea, Montpellier is a much more affordable city option. The price per square meter to buy an apartment in the city centre there is €5,289.33.
Dordogne
But many of us chose to move to France to escape the city and its high prices. For this reason, Dordogne appeals to many, offering a slower pace of life in a sunnier climate. According to Immobilier Statistiques, the average price per m² in Dordogne is €1,370.
Creuse
If you are after that countryside cottage and your budget isn’t too giving, then Creuse might be your place. It has the cheapest houses, with an average square metre costing €895.
Source: Insee.fr
Property type is important too
Since 2021’s third quarter readings, most of the older houses in France have increased in price by more than 2%.
Dordogne
Second homes are growing in popularity
The market for second homes in France is trending, with the French and the British alike. It appears that rather than put people off buying second homes, the pandemic made many Brits feel that there was a better life awaiting them in France, and so, purchased a second home. Now, the crucial thing that potential homebuyers are looking for is internet connection to enable them to work from home.
SeLoger, an online estate agency, has published figures on the highest percentage rises of second homes. In Calvados, prices are up 8.4% from January 2021 – January 2022 to an average of €2,694 per square metre.
Conclusion
For the most part, property prices across France are increasing, and the increasing demand for second homes will likely add to this. However, especially when it comes to countryside living, there are still some affordable property prices out there.
