After a fall of around 4% in 2023, prices of old housing fell by less than 1% last year. Loïc Cantin, president of Fnaim, however, believes that the first half of 2025 still contains potential for a fall in real estate prices.
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– Prices could continue to fall in large cities where they had soared before the real estate crisis, such as Nantes.
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After two and a half years of real estate crisisthe bulk of the drop in prices is already behind us. After falling by 4.1% in 2023, compared to 2022, the average price of old housing in France decreased by only 0.8% in 2024, to 2,930 euros per square meter, according to data presented by the Federation National Real Estate Agency (Fnaim), this Wednesday, January 15. In detail, prices fell by almost 4% in the first half of 2024, then they stagnated during the second half of the year. An evolution modeled on that of real estate saleswhich further plunged by around 10% over the first six months of 2024 before stabilizing in the second half, the drop in credit rate having given back purchasing power to those seeking access to property.
The drop in prices, to which sellers had finally resolved, faced with buyers desolved by the surge in rates between the beginning of 2022 and the end of 2023, “seems to be blocked”estimates Loïc Cantin, president of Fnaim. Does this mean that you missed the boat, you who are planning a real estate purchase in the coming months? No, “the fall in prices will still continue in the first half of 2025”predicts Loïc Cantin. But she will be “light, of the order of 1%»warns the boss of Fnaim, emphasizing that this is an average covering different developments within this “mosaic of real estate markets” what is France.
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An increase in prices in the second half of 2025
Some big citieswhich had seen their prices jump between 2016 and 2022, when very low credit rates encouraged the French to buy, have undoubtedly not finished with the decline that began since the start of the crisis in mid-2022. This is the case of Nantes, where prices plunged by another 5.4% in 2024, bringing their fall to 14.2% over the last two years. Or even Lyon, whose prices fell again by 4.7% last year, and by 13.5% in two years.
On the other hand, Loïc Cantin “sees no reason” that prices are now falling in places where they have so far held up. Like the rural communitieswhere the average price per square meter increased by 0.8% last year, compared to 2023. The same goes for Toulon and Nice, which should continue their momentum in 2024, when their prices respectively increased by 7.1 % and 1.2%.
This increase in prices should become widespread in the second half of 2025, thanks to the recovery in real estate sales. With credit rates likely to fall to 3% in the coming months, Fnaim is counting on 825,000 real estate transactions this year, a rebound of 6% compared to 2024 which saw the market drop by 11%. The other side of the coin for potential buyers, old property prices are expected to increase by 1% on average, in France, between next June and December.
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