The price of real estate: how far will it fall?

According to Century 21, real estate prices in France continue to decline. In Bordeaux, Lyon, Paris, the Ile-de-France region and Nantes, housing values fell by 4.1% over the year.

This trend is likely to continue as rising interest rates take their toll on the real estate market. The high cost of mortgages is reducing demand, and buyers who do want to purchase a home are having trouble with their purchasing power. Many of them decide to postpone their purchases in anticipation of better times.

The number of offers on the real estate market is increasing and owners are forced to reduce prices in order to sell their property.

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This situation cannot be avoided, and according to Charles Marinakis, president of the Century 21 chain, it is only getting worse. In the past, price reductions have been negligible and sellers, rather than lowering their demands, have preferred to wait or accept small discounts. As a result, the number of transactions on the real estate market decreased.