French house prices fall in the first quarter

Wednesday, August 03, 2011

French house prices fall in the first quarter

The price of French property outside of the capital has fallen by 1.6% in the first quarter of the year according to notaries.

Overall the French property market seems to be slowing with 31 departments of France (1/3 of the country) reporting falling house prices over the past year. These included the regions of Caen (-1.6%), Saint Etienne (-5.3%), Metz (-11.4%), Nancy (-0.3%) and Montpellier (-1.5%). Only 12 departments showed a rise.

However, the price of apartments is rising throughout France due to a huge upsurge in demand. This has been driven by French buyers attempting to get onto the property ladder as well as overseas investors looking for a safe bet.

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