New figures published by France’s notaires (a notaire is a public official with legal training who prepares and registers official acts such as wills and property ownership transfers) show house prices for second hand apartments and houses fell by 1.6% and 1.4% respectively during Q1, 2012. Meanwhile new-build property prices fell as much as 19% to the end of May.
Despite the falling prices average property prices are still up 3.8% year-on-year. The figures reveal, on closer inspection, a huge variation from region to region and even within a region’s departments.
Cities with price increases (per square meter) included: Amiens and Limoges (10.3%), Bayonne (7.3%), Bourges (8.8%), Paris (7%), Tours (6.9%), Rennes (7%), Lille (5.5%), Bordeaux (5.7%), Lyon (5%), Toulon (4.9%), Toulouse (4.5%), Nancy (3.7%), Caen (3.5%), Besançon (3.1%), and Nice (3%).
Cities where prices per square meter dropped included: Nîmes (-13.3%), Mulhouse (-12.3%), Reims (-6.7%), Saint-Etienne (-6.5%), Rouen (3.2%), and Montpellier (-2.9%).