Amongst the top ten most surveyed cities in France, only Lyon has seen a rise in prices of new property. Paris, Lille, Nantes and Bordeaux are all more affordable at the moment
For those thinking of investing in new property, now might be a good time. Over the last six months, prices have calmed significantly in the major cities of France, including the capital itself. As an example, take the average new three-room apartment in Paris – it has fallen in value by 1.23%. That translates as a loss of €8,000 for a pad costing €645,000. Down in Nice during the same period, the fall was 6%. Now you can buy a new three-room apartment for €311,000, or for about €14,000 less than this time last year.
In Lyon – the third-dearest city in France – the trend is going the other way: the average price of a new three-room flat is up by €13,000 compared to one year ago and now comes in at €288,000, as opposed to €275,000 in September 2014. One can see the same trend in Toulouse, even though the city is still cheaper than Lyon. According to the study carried out by Trouver-un-logement-neuf.com, you can also see which towns are wavering between a price increase and decrease over the last year. Such is the case with Bordeaux, Strasbourg and Marseille.
In the last spot of the Top 10 of big cities, Lille is also the one where new property is the most affordable. In one month, the resurgent capital of the Nord (and another host city for Euro 2016) has seen the average price of a new three-room apartment fall by 1.73% in the last year and such a new home now costs €203,000. That would be the same price as a two-room flat in Lyon and €50,000 cheaper than a similar property in Bordeaux. The survey also shows that the variation is still more pronounced in the four-room category. With the smaller properties, however, there seems to be a growing appetite for investors of all kinds and a new two-bedroom flat in Lille will cost you €157,000 today.