Real estate prices continue to fall in the first quarter of 2024

Old property prices continued to fall in the first quarterHowever, according to several agency networks, the beginning of a recovery is being felt due to slightly less expensive credit. According to Orpi, per square meter prices across the country declined by 3% year-on-year in the first quarter. For Laforet, the decline is 4.7%; And according to Century 21, it is 3.2% for apartments and 3.3% for houses. The drop in prices has not yet stopped the decline in sales, the number of transactions has also declined compared to the beginning of 2023, with Century 21 down 11.2% and Orpi down 19%. In Île-de-France, the slowdown in sales volumes is even more pronounced than in the rest of the region, “The price of petrol has increased again», according to Guillaume Martinaud, president of Orpi.

Despite a slight decline in recent weeks, credit rates are also set to rise through 2021 near 4%. But it seems there has been a setback in the real estate market recently, Orpi’s president said on Tuesday. ,January and February were extremely difficult. Mars is happier, we’re starting to get data back, morale is returning“, he announced at a press conference. Orpi signed more than 22,000 mandates at the beginning of the year, or 11% more than in the first quarter of 2023.

The second half of the year will be more promising

,Prices have aligned, they have fallen, we’ve got a form of planetary alignment that gets us excited for the months ahead», declared Charles Marinakis, president of Century 21 France, to AFP. ,It’s not going to happen at the end of April“, he got angry, rather”in the second half of the year“.For Guillaume Martinaud, “We return to a normal market, However, significant disparities are observed by region in the 21st century., Thus in the Pays de la Loire prices fell by 12.1%, while in Provence-Alpes-Côte d’Azur they rose by 4.4% with a series of intermediate positions. The large coastal cities, which are always very popular, are well represented among the cities where the market is constantly climbing.

Laforet also noted that compared to the last quarter of 2023, the number of transactions increased by 0.5%, driven in particular by Île-de-France and especially Paris where prices have been at long-term lows. Century 21, for its part, noted that the steps taken to acquire property (consulting advertisements, requesting information from agencies, etc.) had all become more frequent.

As far as the rental market is concerned, it is still tense, with many families remaining tenants because they cannot access property, notes Orpy. ,This rental market is suffering everywhere. not just in big cities», worries Corinne Berek, vice president of Orpi. ,The stock of properties for rental is decreasing dramatically“, she adds.

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