French property prices: indexes and maps
Variation in price indices in the 3rd quarter of 2020
According to projections from pre-contracts, the price trend seen in Q3 of 2020 in mainland France is expected to continue until February 2021 at a similar pace in the apartment market (+0.6% compared to +0.7% in Q3 of 2020), but a faster pace in the house market (+1.6% compared to +0.3% in Q3 of 2020).
In the French provinces, projections from pre-contracts for the end of 2020 point to a further acceleration in the rise in house prices, with quarterly trends of +3% for house and +2% for apartments at the end of December. At the end of February 2021, increases will be more moderate (around 1.5% for each of these markets).
According to indicators from pre-contracts, in Greater Paris the price per square metre is expected to peak in November 2020 at around € 10,900, before falling very slightly for three consecutive months. In February 2021, the sale price per square metre is expected to be around €10,700 in Paris, i.e. a 1.7% decrease over three months. However, taking into account the accumulated increases in 2020, prices should still show a 3.4% annual rise in February 2021. Apartment prices appear to be stabilising in the inner and outer suburbs, trending at -0.1% and -0.4% respectively from November 2020 to February 2021.
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Median price per sq.m. for older apartments in the 3rd quarter of 2020
Median selling price of older houses in the 3rd quarter of 2020
Credit - Banque de France data - Figures at end of November 2020
Steady growth in new home lending
- The year-on-year growth rate of personal lending remained stable (+4.6% in November 2020, after +4.7% in October 2020), driven by home loans whose growth rate remained steady at + 5.5% in both November and October (after +5.4% in September).
- Outstanding consumer loans fell slightly (-0.1% in November, down from +0.5% in October).
- Seasonally-adjusted monthly home lending amounted to 22.5 billion in November (after 23.4 billion in October) driven by its component excluding renegotiations, which remained dynamic, albeit down slightly (18.8 billion in November from 20.2 billion in October).
- The share of renegotiations rose to +16.4% in November, up from +13.5% in October. The interest rate on new home loans fell slightly to +1.27% in November from +1.29% in October.
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