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Languedoc-Roussillon and the south east show the best regional property price increases, while French property market experiences slowest growth since 1998.
The good news is that real estate prices for resale property in Languedoc-Roussillon and Provence are still growing at a very healthy rate - which is more than can be said for the French market as a whole.
Property growth figures just released by FNAIM (the French Federation of Estate Agents, www.fnaim.fr) show that although still growing, the French market in 2007 was at its lowest point for almost a decade, showing a rise of only 3.8 per cent year-on-year, the lowest increase since 1998.
Of course, here at Crème de Languedoc we’re always curious to see which regions are performing most strongly, and sure, it makes us happy to report that the FNAIM’s Sud Est (south east) sector - which comprises Languedoc-Roussillon and Provence-Alpes-Cote d’Azur - continues to lead the pack, with a healthy 7 per cent increase, year-on-year.
Want to compare and contrast? Here’s how those FNAIM regions performed last year.
So what’s behind the slow down in the national French market? It seems unlikely to be interest rates, as these were at a comparatively favorable level last year (for British readers keen to compare what rates they could get at home versus across the Channel, interest rates in France are currently hovering around the 4.25 per cent mark, compared to around 5.50 per cent in the UK), so a low level of purchasing power is the main reason cited by FNAIM and the French press.
Want to look back and see how the Languedoc property market has moved?
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