About apartments, the PACA region, which was renowned for its very strong homogeneity in 2006, reflects the price increase in 2007 of provincial properties, with strong disparities. The changes vary from + 3% in Toulon to + 5% in Marseille, to reach + 9% in Nice, which is the most expensive city in France, excluding Paris, with a population of more than 150,000 with a median price of € 3,295 per square metre.
The other border areas (excluding the North of France) retain with the coastline the most expensive prices in France.
The South West continues to propel the market prices upward with the cities of Bordeaux (+ 8% for a price of € 2,419 per square metre) and Toulouse (+ 7% for a price of € 2.485 per square metre).
After the one-off increases in prices above forecasts in certain towns since 2004, the market continues to standardise on an average price in said provincial areas, apart from unusual cases. Said price was in a range of € 2,000 to € 2,300 per square metre in 2006 and is located in 2007 between € 2,200 and € 2,500 per square metre.
The increase is more contrasted in the rest of France with:
- A strong increase, such as in Saint Etienne (+13%), where prices are still very attractive (€ 1,341 per square metre), knowing that it is the cheapest town in France with a population of more than 150,000 ;
- Increases in the small average such as in Reims (+5%) where prices (€ 2.177 per square metre) no longer reach the standard threshold of privileged provincial towns or else a symbolic rise (+1%) in Rennes where prices (€ 2,299 per square metre) remain at a high level.
In 2007, if a six roomed apartment could be bought in Nantes for € 350,000.00, one has to make do with a three roomed apartment in Boulogne Billancourt for the same price. In 1997, for said amount, an investor bought a five roomed apartment in Cannes…
In the South with Bordeaux (€ 226,500 +7%), Toulouse (€ 255,000 +6%), Grenoble (€ 326,500 +6%) and especially PACA (Nice € 460,000 +7% and Marseille-Aix en Provence (€ 296,000 +4%) the price of houses is on average the highest with a budget between € 200,000 and over € 500,000.
In the North with Lille (€ 166,000 +8%), Rouen especially (€ 162,000 +12 %) and in the East with Reims (€ 217,000 + 7%) and Strasbourg (€ 292,000 +8%) the increases are higher than the national average.
It seems that there is still a room for growth in certain towns like Amiens (€ 150,000) or Le Havre (€ 155,500) like what we saw over recent years for cities like Toulon (5th) in 1997, (2nd) in 2007 (€ 335,900) or Nantes which rose from 17 th to 10 th (€ 234,300) or Bordeaux which rose from 21st to 12 th.
This confirms that the individual house market, if it is still high, still shows high contrast in prices and surface areas even though the average surface area is still comfortable with approximately 110 square metres for approximately 5 rooms. For instance, with a budget of € 250,000, one can buy a 5 roomed house in Talence, Gironde and only a 3 roomed house in Seyne S/ Mer in the VAR.
Overall, over the last ten years, we note that old houses have practically tripled in value. In 1997, with the same budget of € 250,000, one could buy a 5 roomed house in the suburbs of Lyon or in the Annecy region, which are very sought after sectors.
To know more
> Other figures about the French market trends (in French)
> Situation of the Parisian market trends (in French)