Property prices in French cities continue to soar

Property prices in French cities continue to soar
Property prices in Lyon have risen 11 percent over the past year. Photo: AFP
Property prices in cities across France are continuing their rapid upward movement, with Paris as ever leading the charge and Lyon and Nantes zooming ahead.

The southern cities of Nice, Marseille and Montpellier, all of which suffer from high unemployment, are bucking the trend, with only minor real estate price rises.

In the country as a whole, the price per square metre has gone up by just under three percent between September and October, according to the latest figures compiled by Le Parisien newspaper.

But in the big cities, prices have rocketed over the past year.

Lyon saw a rise of a whopping 11.1 percent to an average of 4,501 euros, Nantes prices rose by 8.6 percent to 3,231 euros, and in Toulouse they went up by 6.7 percent to reach 3,106 euros.

“The property market is a reflection of the economic and demographic dynamism of these regional capitals,” Thomas Lefebvre of mortgage broker  MeilleursAgents told Le Parisien.

The northern city of Lille, which is enjoying something of a renaissance with rapid growth in businesses after years of stagnation, also saw its house and apartment prices rise to 2,836 euros per square metre.

Paris, as ever, remains by far the most expensive city in the country and has seen its property prices rise to yet another record high.

They now stand at 10,115 euros per square metre.

“Demand remains very high in Paris and low interest rates are going to continue to fuel the movement,” said Lefebvre of  MeilleursAgents, which along with Le Parisien compiles the paper’s property index using data from estate agents, government figures, and notaries’ records. 

Nice, Marseille and Montpellier have all three failed to shine in the latest index, with prices remaining stagnant or showing only a minor rise. 

They stood at 4,107 euros in Nice, 2,565 in Marseille, and 2,895 in Montpellier.


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