Paris isn't the only city in France with rising property prices. In one year, Lyon took off boasting of an increase of 11.1 percent, 8.6 percent in Nantes and 6.7 percent in Toulouse. These are cities where the unemployment rate has dropped significantly in the last five years...hence the increase in demand and the rise in prices.
Low interest rates (under two percent) continue to drive the market with ready buyers. Nice, Marseille and Montpellier can't boast of such gains, all cities still suffering from high unemployment. But, no one is anticipating that the increase will stop, unless the interest rates were to rise, but that's not looking likely either.
All of France is showing an increase of almost three percent just between September and October, as reported by Le Parisien, but the larger cities, particularly the regional capitals, are showing the most gains. Per square meter rates are up to 4,501€ in Lyon, 3,231€ in Nantes and 3,106€ in Toulouse. We have a client buying in Lille, where she works. Prices there are also on the rise, now up to 2,836€ per square meter. The cities in the south are at the averages of 4,107€ in Nice, 2,565€ in Marseille and 2,895€ in Montpellier.
These cities are still a whole lot more affordable than Paris, where the average price per square meter is 10,115€. Paris will always outperform the rest of France and is soaring along with the others, experiencing high demand like never before. Although bidding wars are taboo in France, we're now seeing how agents are controlling how potential buyers are in line to purchase a property in Paris.
Nice is experiencing just the opposite — there is a lot of supply and, overall, a lot less demand. This is an opportunity to take advantage of the stable market on the Côte d'Azur.
P.P.S. Here's your opportunity to have a one-on-one consultation with me! If you are in the Los Angeles area in December, I'll be spending some time in Santa Monica over the Christmas holidays and will be available the mornings from 10 a.m. to 12 p.m. in Santa Monica (if possible) December 20th and 21st, 23rd, 24th, 26th and 27th. Our two-hour session will cost the same as the normal fee, except in dollars, rather than euros, saving you 10%. To book your consultation and learn more, email me now!
YOU TOO CAN WORK AND LIVE IN FRANCE
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