Real estate: how much have prices soared in France in 25 years?

According to a note from INSEE published this Tuesday, real estate prices have more than doubled in 24 years. Here are the key figures from this study.

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The national institute of statistics and economic studies (Insee) published this Tuesday, November 19, an unprecedented note on real estate prices. We learn in particular that the prices of old real estate have more than doubled in France since 2000, and that they are much higher in the most densely populated areas. Here’s what you need to remember.

Housing prices multiplied by 2.6 in 24 years

The statistic is impressive. Since the year 2000, the prices of old housing have increased 2.6 times in mainland France. This general increase has clearly complicated access to property for households in recent years, particularly for first-time buyers. This phenomenon is accompanied by a high concentration of assets since one household in four owns several homes. Furthermore, six out of 10 households own their main residence in mainland France, a figure that has fallen slightly since 2014.

A median price of 2,040 euros per square meter

Between 2020 and 2022, in mainland France, the median price of an old house, that is to say built for more than a year, having been the subject of a sale, amounts to 2,040 euros per meter square. That of an apartment reaches 3,170 euros per square meter. These median prices mask very heterogeneous situations since one house in ten is sold for less than 850 euros per square meter, while one in ten is sold for more than 4,360 euros per square meter.

Note that prices are particularly low in the municipalities located in the diagonal of the void, with a median price which does not exceed 1,000 euros per square meter for houses in Creuse, Haute Marne, Indre, Meuse and Nièvre. Conversely, the median price per square meter exceeds the 3,000 euros mark in Ile-de-France, in the Alpes-Maritimes, in southern Corsica, and even in Bouches-du-Rhône. “Prices are pushed up in the densest urban centers, but also along the coasts and in the Alpine areas», Specifies INSEE.

3,430 euros per square meter in Ile-de-France

Unsurprisingly, the INSEE survey reveals that real estate prices are higher in the most densely populated areas, and in tourist areas. “The economic and demographic attractiveness of very large city catchment areas (AAV) with more than 700,000 inhabitants leads to a strong demand for housing that the supply does not always manage to keep up with. Housing is therefore more expensive in larger areas.», observes INSEE. Thus, the median price per square meter of an old house ranges from 1,390 euros per square meter outside the major catchment areas to 3,430 euros in the Paris area, which includes the Île-de-France region. and part of the neighboring departments.

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+1.4% to +1.7% increase per year on average

Over the last ten years, prices per square meter of old houses and apartments have increased by +1.4% and 1.7% respectively on average each year. This increase is even more marked in large cities and in Ile-de-France, where it reaches 3% per year on average.