Buy one New T3 in 2026 no longer depends only on the price displayed, but above all on the monthly payment that is really bearable each month. After a light relaxation of rates at the start of the yearmany buyers believed they found a little real estate purchasing power. But this breathing space was short-lived: in large metropolises, a few tenths of a point are now enough to swing several hundred euros on a loan.
In the first quarter of 2026, 20-year rates temporarily returned to around 3.3% to 3.5%offering a short shooting window to borrowers. Since then, geopolitical tensions and French budgetary instability have weighed on the bond markets. “With this context, we are talking about a possible return of real estate loans around 3.8% to 4% by summer. The rise of the 10-year OAT is already starting to be felt »explains Elodie Jaffré, real estate loan broker for Pretto Galaxie. “Even if we have observed a slight drop in rates, we know that an increase will be felt. And unfortunately, real estate prices continue to rise. This drop in rates therefore has no real effect if, on the other hand, the prices of goods do not fall further”she summarizes.
Differences in monthly payments that range from simple to triple
According to an Empruntis barometer relayed by SeLoger Neuf, covering Paris, Lyon, Marseille, Toulouse, Lille, Bordeaux, Nantes, Nice, Montpellier and Strasbourg, the monthly payment necessary to finance a new T3 over 20 years varies greatly depending on the city. In six metropolises, real estate purchasing power is improving. It is necessary to count 2,248 euros in Lyon (-4%), 1,671 euros in Toulouse (-4%), 1,777 euros in Nantes (-3%), 1,727 euros in Montpellier (-3%), 1,780 euros in Marseille (-2%) And 2,507 euros in Nice (-1%).
Here, the drop in rates, sometimes coupled with a price correction, gives some breathing room. Lyon goes back below the bar 2,300 euros monthlywhile Toulouse confirms its status as an accessible market, and Marseille benefits from a slight relaxation, even if its monthly payment level remains higher than certain cities such as Strasbourg. Conversely, four cities are still seeing their monthly payments increase: 1,753 euros in Strasbourg (+2%), 1,801 euros in Bordeaux (+3%), 1,873 euros in Lille (+8%) and above all 4,973 euros in Paris (+33%).
Paris becomes a separate market
Paris remains the extreme case: the new T3 is once again becoming an almost inaccessible market for a classic first-time buyer.“Today, we no longer really buy in Paris, we decide between the price per square meter and the transport time”explains Elodie Jaffré. In the capital, a new T3 often exceeds the million euroswhich results in monthly payments higher than 4,000 euroseven with a rate around 3.4% and a contribution of 10 to 15%.
Without prior resale or significant family support, the intramural market becomes difficult to access. Demand is therefore shifting towards the inner ring, notably in Saint-Ouen, Montreuil or Issy-les-Moulineaux, where it remains possible to aim for a monthly payment of between 2,200 and 2,500 euros.
Personal contribution becomes the true justice of the peace
For brokers, the determining criterion is no longer the duration of the loan, often already pushed to 25 years oldbut thepersonal contribution. “Without hesitation, the criterion which weighs the most today on the monthly payment is personal contribution. It is he who reassures the bank in this climate of uncertainty”underlines the broker.“A significant contribution not only makes it possible to reduce the borrowed capital, but also to obtain a more competitive rate, sometimes around 3.15% instead of 3.50%. Today, it is clearly the level of contribution which determines the final monthly payment”she specifies.
With more demanding banks and a probable rise in rates, the slight lull observed at the start of 2026 could quickly disappear. For many buyers, the real question is no longer where to buy, but how much monthly payment they can still afford.
