Old housing: why prices continue to rise

Europe 1 with AFP 08:11, November 24, 2021

The prices of second-hand housing in France continued to increase in the third quarter of 2021, by 7.4% over one year, a greater increase in the region, according to the index jointly established by notaries and INSEE published on Tuesday.

In the regions, prices increased by 8.8%.

House prices have risen in particular (+ 9.4%) in one year, but apartments have followed the same trend (+ 7.5%).

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Houses more marked by the increase in Île-de-France

In Île-de-France, compared to the third quarter of 2020, the increase is 4%. Houses are more marked by the increase, up 7% over one year, against 2.5% for apartments, a first for the region since 2016. Concretely, to buy an old property in Île-de-France, you have to spend an average of 6,840 euros per square meter, or + 2.5% more than a year ago. In Paris, the price per square meter remains stable at 10,790 euros. Prices range from 9,250 euros in the 20th arrondissement to 14,540 euros in the 6th.

"Paris remains away from the dynamics of price increases," said the Notaries of Greater Paris in a press release, who believe that this trend could "continue by January 2022". At the same time, "the enthusiasm for La Grande Couronne has grown", in particular thanks to the "perpetuation of telework", explained Yann Pezeron, notary in Montfort-L'Amaury, during the press conference of the Notaries of the Grand Paris. "There is a stronger taste among Ile-de-France residents for more remote areas in Île-de-France, also because houses cost less, but this is an unprecedented situation", underlined Thierry Delesalle, notary in Paris and president. of the real estate statistics commission.

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1.2 old homes sold in one year

In September 2021, INSEE estimates that 1.2 million old homes were sold over the past twelve months, a figure that has been increasing steadily since the fourth quarter of 2020. However, "the first leading indicators show a decline in the volumes of pre-contracts in the fall ", indicated the Notaries of Greater Paris, who expect a return in the coming months to" sales volumes that are still very high, but less exceptional ".

For the Notaries of Greater Paris, the major challenges to be taken up in the coming months are clear: to overcome the "chronic lack of renewal of the offer and the construction deficit in the region" and to succeed in adapting to "regulatory requirements. government environmental policy.