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Aerial view of Nantes from the Tour de Bretagne
In the context of a general slowdown in the French property market, Pays de la Loire is also experiencing a contraction in transactions, impacted by a continuous increase in property prices. Focus on regional data from the latest Century 21 France study, which highlights trends in the old market in the first half of 2023.
Caution of buyers in the face of rising prices over one year
The rise in real estate prices in the Pays de la Loire has a significant impact on market activity.
Prices show an increase of 3.1% for houses and 3.6% for apartments over a period of one year.
This rise in prices has resulted in a slowdown in activity, more marked for apartments with a 9.7% drop in transactions, while houses recorded a decrease of 3.6%.
This trend testifies to the caution of buyers in the face of rising prices and increasingly demanding purchasing conditions.
Sales are down especially in Vendée
In the Pays de la Loire region, it is the department of Vendee which saw its activity contract the most, with an 8.9% drop in real estate transactions.
This situation can be explained by a notable rise in prices over a period of one year, with an increase of 5.4% in this department.
Buyers are thus faced with more expensive real estate, which can limit their ability to complete transactions.
Decrease in the average surface area of properties sold
In addition to the slowdown in transactions, the surfaces of properties sold in the Pays de la Loire are also experiencing a significant reduction.
Houses show a decrease of 5.7% in the average area, while apartments register a decrease of 2.7%.
This evolution can be linked to several factors, such as the changing preferences of buyers, the search for more compact and more affordable goods, as well as budgetary constraints.
Maintain a dynamic market
Despite these trends, it is important to emphasize that Pays de la Loire remains an attractive region in terms of real estate.
Prices continue to rise, indicating sustained demand and a dynamic market.
However, it is becoming essential for sellers to take buyers’ expectations into account by adjusting prices in a reasonable manner in order to maintain sustained activity in the region’s real estate market.
The key figures of real estate in Pays de la Loire
Houses
Number of transactions: -3.6%
Average price per square meter of houses: €2,797 (+3.1% over 12 months)
Selling time: 66 days (+10 days over 12 months)
Average amount of an acquisition: €271,209 (-2.6% over 12 months
Average area of the property purchased: 102.3 m2 (-6.2 m2 or -5.7% over 12 months
Apartments
Number of transactions: -9.7%
Average price per square meter of houses: €3,218 (+3.6% over 12 months)
Selling time: 76 days (+13 days over 12 months)
Average amount of an acquisition: €159,205 (-2.1% over 12 months)
Average area of the property purchased: 53.8 m2 (-1.5 m2 or -2.7% over 12 months
Average duration of the mortgage:
Source : Century 21 France– Balance sheet 1st semester 2023
2023-07-17 04:43:41
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