France’s falling house prices showed signs of stabilizing in the second quarter after the government “found a certain sense of reality”, says one estate agent. However, in the capital Paris, real estate continues to drop.
In the second quarter and for the first time in a year, French real estate prices have stopped their quarter-on-quarter decline, growing 0.0 percent, according to the latest INSEE figures released Thursday. However, on a yearly basis, prices dropped 1.2 percent, following a 1.9 percent fall in the previous quarter.
Prices in the French provinces grew slightly, 0.2 percent, but the Ile-de-France region – in which Paris sits – registered a 0.5 percent fall on the quarter, bringing prices 2.0 percent lower on the year.
A stabilization in the capital still seems way off as according to French online estate agent MeilleursAgents.com, the price drop accelerated in the summer.