With 2022 underway, what’s going on with France’s property market and what can we expect for the rest of the year?
Sales of non-new build homes surge
Last year, a rise in people looking to move out of cities in favour of more space contributed to a surge in non-new build homes. Between October 1 2020 and September 30 2021, a record 1.2 million non-new build homes were sold in France.
The surge is particularly in areas close to Paris and other large cities. However, this increase in demand has led to an increase in prices, which could continue into this year.
The average price of a home in France in 2021
According to SeLoger, the average price for a property in France in 2021 was €256,800. This was an increase from the previous two years, with €222,000 the average in 2019 and €232,000 the average in 2020.
You may be surprised to know that the average property price in France is actually not too different from the UK, which was £268,349 as of October 2021. However, France has more space, so this amount can generally get you a lot more for your money, especially if you buy in the countryside.
A new law on rent controls
Some properties in France are subject to rent controls, which prohibit landlords from setting rent prices above a certain amount. The new law will make it mandatory to mention these controls when a property is advertised for rent.
This change in the law followed a survey published in January 2021 by the consumer association CLCV, which showed that 40% of advertisements for housing in Paris did not mention rent controls at all.
Environmentally friendly insulation
In the Hauts-de-France region, old houses are set to be insulated by a new eco-friendly material made from Hemp.
Fifty houses in the town of Pecquencourt will have their walls covered with concrete made from hemp, which is designed to prevent heat escaping. These are all old houses, with some dating back to the 1800s. If successful, this project will be rolled out to more houses across the town and beyond.
The best market in France?
If you’re looking to buy a property with a brilliant French market nearby, you may wish to check out Étaples-sur-Mer. This town in Calais has been voted by the French as having the best market in France.
Set in the main square of the town surrounded by the quaint buildings of this authentic fishing village, this market sells all the vegetables, fish, meat and foodstuffs that you could hope for. You’ll also find a host of excellent cafes and restaurants here to wind down after your busy morning of shopping.