Real estate prices in Ile-de-France continue to fall.

In the wake of rising interest rates and difficulty in obtaining a loan, the number of real estate transactions is falling and prices, which have long been rising, are falling. Figures in the Ile-de-France region. The latest figures from the Insee index of notaries, published on Thursday, September 7, confirm a trend that has been entrenched since the beginning of 2023. The constant increase in prices is coming to an end. While real estate prices continue to rise slightly in the region, the decline continues in Ile-de-France, especially in Paris and its suburbs.

What about older housing

Prices in Ile-de-France have fallen for the third consecutive quarter: -2.0% in the second quarter of 2023 after -1.3% and -0.2% in the previous quarters, says the Insee notaire index.

Even prices for''country houses are declining. Cumulatively, prices fell by 2.2% for apartments and 1.7% for houses. The decline is more significant and started earlier in Paris: -2.4% in the second quarter after -1.3% and -0.5% in the previous quarters.

Rent office in Grenoble 3 417 $

France,Grenoble

2 Bathrooms

313 м²

Rent office in Nice with city view 2 591 $

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141 м²

Sale flat in Condom 361 747 $

France,Condom

2 Bedrooms

2 Bathrooms

85 м²

Sale chalets/cottages in Dordogne 620 909 $

France,Dordogne

4 Bedrooms

2 Bathrooms

350 м²

Sale land in region 424 999 $

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2347 м²

Sale flat in Dordogne 448 134 $

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4 Bedrooms

3 Bathrooms

164 м²

In the suburbs, the decline is somewhat more moderate: -1.7% after -0.4% and +0.2%. In the outer ring of the Paris agglomeration, the decline was 2.1% in the second quarter after -1.6% and -0.3%.

The decline in house prices is slightly less significant: -1.8% in the outer ring and -1.6% in the inner ring of the Paris agglomeration in the second quarter. But this fall in house prices is an unusual phenomenon.

The value of old housing in Ile-de-France fell by 3.1%

over a year.

including -3.7% for apartments and -1.9% for houses, the remaining difference between Paris and the outer ring. As for apartments,''The year-on-year decline is 4.4% for Paris and 3.8% for the inner ring, compared to 1.7% for the outer ring.

The graph of price per square meter has remained positive for five years. As for the price per square meter (old and new housing), it decreased by 2.7% for the year to May 2023, but increased by 13.4% over five years, and in the departments of Val-de-Marne and Saint-Saint-Denis by 18% and 20% respectively. The average cost per square meter in Paris exceeds €10,000 (€10,170) and almost reaches €14,000 in the 6th arrondissement, while the value in Hauts-de-Seine is €6,460, in Val-de-Marne €5,120 and in Saint-Saint-Denis €3,990. The average values hide significant differences related to proximity to Paris and more or less affluent cities.