It is estimated that 843000 properties changed hands in 2016, thus the highest number since 2006. Sales were especially buoyant in France’s larger cities, with the cities of Bordeaux and Nancy showing the largest price increases at 9,8% and 5,6% respectively. It has been the exceptionally low interest rates of between 1 to 1,5% that has fuelled demand, mainly in the lower price market segment for first time house buyers.
This property boom has been less apparent in the Var and Alpes-Maritimes, with prices in Nice and Toulon remaining stable. As in 2015, the prices show similar disparities with more lively urban areas seeing small price increases of generally between 2 and 5%, and the inland areas or “arriere pays” still showing declining prices. As long as the number of buyers are lower than the properties available, this slight downward trend on inland properties will continue, which represents an excellent opportunity for buyers who therefore have a stronger negotiating position.
As part of our commitment to “give back” to the local community, as mentioned in our December 2015 post, we are donating 3% of our 2016 turnover to Habitat and Humanisme, a French housing charity that help find a stable home to those unable to get accommodation through state services. We renew this commitment in 2017 and will keep you informed with the results of this year’s donation.
This property boom has been less apparent in the Var and Alpes-Maritimes, with prices in Nice and Toulon remaining stable. As in 2015, the prices show similar disparities with more lively urban areas seeing small price increases of generally between 2 and 5%, and the inland areas or “arriere pays” still showing declining prices. As long as the number of buyers are lower than the properties available, this slight downward trend on inland properties will continue, which represents an excellent opportunity for buyers who therefore have a stronger negotiating position.
As part of our commitment to “give back” to the local community, as mentioned in our December 2015 post, we are donating 3% of our 2016 turnover to Habitat and Humanisme, a French housing charity that help find a stable home to those unable to get accommodation through state services. We renew this commitment in 2017 and will keep you informed with the results of this year’s donation.
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