NEWS
RISE AND FALL: NEW BAROMETER HIGHLIGHTS PROPERTY TRENDS
A
new monthly barometer of house prices has been launched in France: BFM Business Bien’Ici will show new trends in the
French housing market, including where prices are rising and falling. A collaboration between French TV station BFM Business and property listings website Bien’Ici, the study shows that prices are falling fastest in medium-sized towns and cities. The largest price drops from September 2022 to September 2023 were in Amiens (-15%), Limoges (-10%) and Besançon (-9%). So if you’re an investor, it may be the time to purchase that buy-to-let; or perhaps you’re looking for a bolthole in a city that offers more for your money than you might previously have been able to afford. The fall in prices has also hit cities known
for having the most expensive property in France, including Paris (-4.7%), Lyon (-6.5%) and Bordeaux (-7.9%). Over-supply in certain areas is being
blamed in part. The Bien’Ici website has more properties for sale than ever before – 650,000 in September, 68% more than January 2022 when rates began to rise. Regions that were sought-after post- Covid have been particularly affected; for instance, Brittany has 78% more ads over a year, and Pays-de-la-Loire has 73% more. But are prices on the rise anywhere?
Yes, in southern France, including Nice (+4.8%), Marseille (+1.9%) and Aix-en- Provence (+1.9%), as well as Rouen in the north (+3.3%) over the year. Experts say that cities like Marseille have long been undervalued and are simply catching up.
TRAVEL NEWS
Lyon is set to become a hub for east-west night train services in France. Following the relaunch of overnight rail services in 2021, the government has announced a plan for at least a dozen lines by 2030 across France. Current lines mostly run between Paris to southern destinations including Nice, Tarbes and Bayonne.
Easyjet has introduced a new winter ski route, between Bournemouth and Lyon, from 13 January to 24 February, to coincide with the ski season and half-term. The airline also offers winter flights between Bournemouth and Geneva.
Bag a bargain bolthole in the lively and historic northern town of Amiens MARKET SNAPSHOT: DEMAND DOWN T
he Notaires de France have reported that the prices of homes (excluding new-builds) in France are entering a phase of decline.
The most marked drop will be in the Paris region, where a decrease in demand will drive prices down, while the provinces are expected to be more resilient and either remain flat or show a slight decrease of 0.2%. Based on an analysis of the state of the property market in the second quarter of 2023, Notaires de France forecasts that the total number of transactions for the full year 2023 could end up at around 950,000, signaling a sharp slowdown of around 14% compared to the previous year, and taking the market back to pre-2018 levels. To complicate matters further, mortgage
rates are expected to keep rising and could pass the 5% mark by 2024, according to a report from Midi Libre. The combination of the rise in the usury rate and the European Central Bank’s key interest rates is causing property loan rates to go up. This trend has
Rising interest rates and tighter credit conditions are contributing to declining transactions
undermined the property market in recent months, and it appears that it is on track to continue.
Ryanair will have to cancel many of its European flights this winter over delays to the supply of new planes from manufacturer Boeing, according to a statement from CEO Michael O’Leary in September. Of the 57 Boeing 737s ordered by the low-cost airline, with 27 due before December, it says Boeing can now only deliver 17 by this deadline. “Flight cancellations will take effect from the end of October, and will be communicated to all affected passengers by email over the coming days. Passengers will be offered reaccommodation on alternative flights or full refunds as they wish,” said O’Leary.
Following the launch of low-speed, low-cost Ouigo trains earlier this year, French railway operator SNCF is looking to add three new lines by the end of 2024, between the capital and Bordeaux, Rennes, and Brussels. Current services run between Paris and Lyon and Paris and Nantes. While fares are cheap – just €29 for Paris to Lyon – journeys are much longer (almost five hours, compared to two on a TGV service, between Paris and Lyon).
4 FRENCH PROPERTY NEWS: November/December 2023 13
©SHUTTERSTOCK
© QUOTEINSPECTOR /FLICKR
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148
