The quiet, seething feud this site has with the official propaganda marketing arm of real estate agents in France looks set to end.

The latest quarterly letter, Residential Property in the Eye of the Hurricane, from La Fédération Nationale de l'Immobilier marks a break with previous complacent efforts and has patently been written and considered by different authors than prior FNAIM output.

Couple of interesting graphs in that report cutting property price trends by region and house/apartment split:



A crucial feature of the latter chart is the IDF point. That is Ile de France, or the Paris region, long perceived as virtually impregnable to the forces of property price declines. Recognition by sellers here that pricing flexibility cannot be denied will start to boost anaemic transaction volumes. Eventually anyway.

Equally interesting, although I cannot readily explain it, is the strength of Bourgogne. The export market must be seriously overpaying for its wines...

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2 comments

  1. Tomas // 3/06/2009 12:25:00 PM

    That's true on figures but still on the real market I do not see a real drop in price. On the other hand the rental market is quiet stable no change here. Look for your self on this website dedicated to english speaking people on the french riviera: www.rivierAds.com.

  2. Mark Knowles // 3/06/2009 01:21:00 PM

    I think the answer to the Bourgogne question is easy - Nothing got sold :)

    Assuming these are median prices, which I believe they are - a couple of high value sales when nothing else sold will skew the statistics pretty badly.

    The real estate bodies were crowing about rising median prices in Manhattan all through 2008 - carefully neglecting to mention that the only thing selling was right at the top of the market at a 40% discount.

    This is where I think we are headed:
    http://internationalpropertyinvestment.com/french-property-prices-to-fall-everywhere-in-2009

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