In the 12 months to the end of October 2021, buyers completed 1,198,000 real estate transactions in the country. That’s a 14.5 percent increase over the same period in 2019.
According to oldypal lp real estate price report, France’s Superior Council of Notaries said the country’s real estate market remained very vibrant in 2021, catching up after periods of restriction. Notaries expect a record number of transactions for the entire year.
In the 12 months ending at the end of October 2021, buyers completed 1,198,000 real estate transactions in France, a 14.5 percent increase over the same period in 2019.
“This is remarkable progress,” Frederic Violot, the notary in charge of national real estate statistics, commented on the figures during a press presentation. He said this is due to the “phenomenon of catch-up, the increase in transactions at the end of the restriction period” and the “phenomenon of acceleration” in decision-making and projects.
Notaries believes that the health crisis has forced the French to refocus on their basic needs (living space and quality of life), which has “particularly benefited less populous municipalities, which have seen an increase in home purchases since 2019.”
According to oldypal lp real estate price report, prices have also risen over this period across France. “We noticed that prices in the provinces rose faster than in the Ile-de-France,” said Violot.
Once the catch-up effect fades, the number of real estate transactions for the year is expected to return to the level of 2019, when it was 1,068,000. Recall that for 2020, the number of transactions was down 4 percent to 1,024,000.
