PROPERTY PRICES: TWO-PRONGED TREND
numbers don’t yet refl ect this trend; in 2022 prices were up by 4% for apartments and 7.1% for houses, according to data released by estate agency network Century 21. The consensus in the market
is that with the combined eff ects of higher interest rates, more hurdles to access credit, and the decline in household purchasing power due to infl ation, prices are expected to level off or even slide – in some areas the price per square metre has reportedly already shown a slight dip at the beginning of the year. The notable exception to the
B
y the end of last year, notaires said they were not expecting prices to drop in
2023 as the property market started to slowly adjust back into balance after a wild 2021 marked by the sale of more than 1.2 million properties in the wake of the health crisis. During the 12 months leading
up to September 2022 this number indeed decelerated to 1.13 million transactions, based on data released by the
professional body Conseil Supérieur du Notariat (CSN) reported by Le Figaro. This 6.1% overall drop in volumes was slightly sharper in the provinces, which recorded a 6.7% decrease compared to 2.7% in the region surrounding the capital. By January, estate agents
told Le Figaro that the overall impression was that prices had started to show signs of cooling. Statistics always lag a few months behind, so the
trend is the luxury segment which, far from shrinking, is smashing through the ceiling. Paloma Picasso, daughter
of the celebrated painter, has acquired her 290m2
Parisian
pied-à-terre for a dizzying €21.5m, as reported by French business weekly magazine Challenges. While this was the highest price paid for an apartment in Paris in 2022, it actually wasn’t the record price per square metre, which belonged to an apartment in the St-Georges quarter of the 9th arrondissement at an even higher €75,331/m2
. WHAT’S ON IN MARCH/APRIL 2023
STREAMLINED FORMALITIES Eff orts to reduce waits concerning certain government formalities such as applications for identity cards or passports have been announced by the French administration. Following the backlog that accumulated during the pandemic, combined with the increase in travel as restrictions were eased, the waiting time for documents peaked at an average of 90 days in May 2022, with reports of delays of up to six months in some districts, according to French weekly news magazine L’Express. Among other measures, 500 additional reception posts were deployed throughout the country to allow more town halls to decentralise applications and process fi ngerprints to alleviate the bottleneck.
12-18 MARCH PORTES DU SOLEIL, ALPS ROCK THE PISTES With Morzine as this year’s host, the 11th edition of the high-altitude rockfest will feature fi ve live concerts and over 30 après-ski concerts in multiple resorts attracting music fans from across Europe. Festival-goers can literally ski from one performance to the next, with free entry to the concerts for lift pass holders.
rockthepistes.com
30 MARCH - 4 APRIL GRAND PALAIS ÉPHÉMÈRE, PARIS ART PARIS Celebrating its 25th anniversary this year, Art Paris will bring together some 133 galleries from 25 diff erent countries. A leading spring arts event in the capital, the innovative art fair sets out to explore the world of modern and contemporary art. There will be some 80 guided tours of the fair, ensuring access to the widest audience.
artparis.com
12 FRENCH PROPERTY NEWS: March/April 2023
4-5 MARCH SARLAT, DORDOGNE FEST’OIE The goose takes centre stgae in Sarlat, capital of the Périgord Noir, for this joyful festival with marching bands, gourmet food and unique entertainment. Children can enjoy activities with the goose tamer, you can try your hand at goose plume calligraphy and stock up with local products in the goose farmers’ market.
en.sarlat-tourisme.com
FROM APRIL TO JANUARY CHARTRES, EURE-ET-LOIRE CHARTRES EN LUMIÈRE See this beautiful city in a whole new light, as every evening its buildings become colourfully lit up, including the cathedral, wash houses, theatre and bridges. Attracting more than a million visitors each year, the lumière season will be launched on 15 April with 5km and 10km races (walkers welcome too) along the lit trail.
chartresenlumieres.com
©VILLEDECHARTRES_GROUPEMENTMARTINO
©FEST’OI SARLAT / DENNIS RUBIN
©MATTHIEU_VITRÉ
©MEILLEURS AGENTS
© KURIOUS | PIXABAY
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