PRESS CONFERENCE: THE REAL ESTATE MARKET IN THE FIRST HALF OF 2022
Century 21 France gave a press conference on the balance sheet of the real estate market of the former in the 1st half of 2022.
As you can see, average prices per m² are reaching levels never equalled in France.
As Charles MARINAKIS President of Century 21 France indicates: "The level of 2500 € per m² has just been crossed for houses and that of 4000 € per m² exceeded for apartments. These particularly strong year-on-year increases (+10.7% for houses and +7.4% for apartments) have an impact on the average acquisition amounts, which have never been so high (€290,654 for houses and €240,961 for apartments). It is the houses whose prices have risen all over France that panic the market. They are more and more popular and more and more expensive! These historically high price levels have direct consequences on activity: the number of transactions is falling in the home segment (-7.9%) and grew only slightly on that of apartments (+1.7% over one year). There is no doubt that with inflation at 5.2% to date, the question of purchasing power will become crucial for the vast majority of households, and the rest-to-live the stumbling block when it comes to taking out a loan from banking institutions. This is likely to weigh heavily on market dynamism in the coming months and should lead to a sharp deceleration in the rise in house prices. In which case, this is good news because this lull in prices is desired and desirable. »
So what happened in Provence-Alpes Côte d'Azur in the first half of 2022?
- In Provence-Alpes-Côte-d'Azur, the average price per m² for houses is €4,270 (+15.5% over one year). The average acquisition amount for houses is €502,064. The average area of houses purchased is 119.6m².
- In Provence-Alpes-Côte d'Azur, the average price per m² for apartments is €4,508 (+10.8% over one year.) The average acquisition amount for apartments is €266,860. The average area of apartments purchased is 58.6m².