News Immobilier: still no real price cuts in sight

14:25  25 february  2021
14:25  25 february  2021 Source:   immobilier.lefigaro.fr

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  Immobilier: toujours pas de vraies baisses de prix en vue © Shutterstock / Shutterstock

The French real estate does better than resist the Covid-19 . Despite the health crisis, prices continued to rise in France. And the increase is even amplified: + 6.5% in the fourth quarter over one year against + 5.2% in the third quarter, according to the index of notaries-Insee . Proof of the constant and even growing French appetite for stone, more than a million items (1.025 million to be exact) were sold in France last year.

Admittedly, 2020 was a good less raw than 2019 (1.070 million). But on the one hand, 2019 had been an exceptional year; On the other hand, 2020 has been cut by two months, because of the two lockdowns. This decline of only 4%, when those periods when the market was at a standstill, should have led to a 20% drop in sales, therefore appears to be a remarkable performance. "The year 2020, however chaotic, confirms that real estate is the favorite investment of the French", assures Me Thierry Delesalle, Parisian notary.

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Paris, where small price drops were expected due to a drop in demand weakened by the crisis, is a perfect example of the resilience of the market. Prices climbed 5.4% in the fourth quarter over one year to reach 10,770 euros per m² on average. All the arrondissements, with the exception of the 7th, benefited from this: the increases ranged from + 2.4% in Paris Center (the first four arrondissements) to + 8.5% in the 5th.

Consequence: the price difference per m² between the most expensive district (Saint-Thomas d'Aquin in the 7th district, at 15,200 euros) and the most affordable (La Chapelle in the 18th district, at 8,230 euros) has never been as low: 1.8. Twenty years ago, the gap went from simple to quintuple ... "Gentrification is no longer a lure in Paris," says Thierry Delesalle.

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But if we zoom in on the last three months of 2020, the first declines appear in Paris but are in reality near stagnations: -0.2%. For notaries, the real estate market is normalizing. “This brake on Paris is welcome, analyzes Me Delesalle. Before the crisis, we sold goods at prices higher than their value because the demand was so strong. It's a good thing the market is easing. "

It remains to be seen whether this slowdown will continue or whether a more pronounced fall in prices is to be expected. “Prices will continue to resist and will not collapse. If a property is sold for the right price, there is no negotiation. This is the case for 2-3 pieces which are selling well but not for 5-pieces where we are seeing price reductions ", explains Thierry Delesalle.

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