10th
November
2008
The French Property Market (as we see it)
posted in The Estate Agency Business In France |
A local mortgage salesman asked me the other day ‘so how do you view the French property market at the moment, after all your site is national and you have a wide range of properties, you should be able to give me some insights?‘.
From the lofty perspective of this site these are my (albeit very amateurish and unscientific) ‘insights’.
- Property enquiries went down massively in July/August/September.
- We know of at least 5 agencies who used to list properties on the site who are no longer operating.
- Prices whilst coming down slowly are not in free-fall (probably because of property withdrawals - see below).
- Many properties are being taken off the market - the owner preferring to keep the property (or rent it out) rather than sell it cheap.
- Enquiry numbers are beginning to increase again (late October/beginning of November)
- Currently the properties that are being most enquired about tend to be the more expensive/luxurious properties (i.e. €500,000 plus properties)
- The far north and far south of France suffered from a bigger slump in enquiries, but is now starting to pick up again.
- Paris seems to still be suffering from lack of enquiries.
Let us know what you are experiencing. What do you think? Are property prices going to fall further? Are we due a pick-up in enquiries/sales, particularly after the recent rate cuts? How are the mooted tax cuts in the UK and elsewhere going to affect the market?
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on Monday, November 10th, 2008 at 4:42 pm and is filed under The Estate Agency Business In France.
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