2022 Annual Market Report

The Notaires de France have published their annual market report for 2022 and the trends for the start of 2023 (for residential sales only, not commercial or business real estate).

To summarise their report, 2022 will be remembered for a decline in property sales (around -5.4%), while house prices continue to increase, with stronger sales for older/stone houses (8.2%) than for resale apartments.

Key Market Numbers

Here are some key numbers for overseas buyers and international investors; it’s worth noting the Dordogne is the most popular area for foreign buyers this year, Normandy and Occitanie are on the up, Paris is back en vogue and the Alps with the return of winter tourism.

• 1,133,000 is the number of transactions carried out over the last 12 months (in France)
• + 8.2% is the yearly increase in the price index for old/resale properties in mainland France
• + 8% is the yearly increase in properties sold to foreign buyers in the Dordogne in 2022
• + 4.0% is the yearly increase in the price index for resale apartments in mainland France

At the start of 2023, the Notaires de France report expects the sales decline to continue as financial institutions readjust their lending criteria in an increasingly difficult market following recent interest rate increases in Europe.

Our Professional View

It’s difficult to forecast beyond next Spring, as global economic, energy, geopolitical, and health concerns could see sales volume drop further. Or indeed bounce back, potentially boosted by more entrepreneurs seeking a base in Europe post-Brexit and/or by investors planning for the Olympic Games in Paris (JO2024).

We believe that the ongoing property shortage, combined with increases in energy, borrowing and materials costs, and the lack of available finance, will continue to push prices upwards. We also think it’s likely some “impulse” buyers may have a change of heart and cash in on their rural country retreats as families adjust to the cost-of-living crisis and professionals return to work in cities post-pandemic.

Planning for 2023

If you are planning to buy a property in France, make sure you’ve done your homework and are set up to act when the right property comes along. If you haven’t already, take a tour around our buying guide, learn about property taxes, how difficult French mortgages are to obtain and how to secure a forward contract to save money on euro transfers. Last but not least, create a member account so we can send you regular property updates that match your criteria.

One Final Note

After what we’ll describe as a difficult year, we would like to wish you and your loved ones a fantastic Christmas holiday and Best Wishes for a Happy New Year.