French Elections and the Property Market in 2027

Slowly but surely, France’s 2027 presidential election is approaching, and international buyers considering buying a property here may have practical questions about the political uncertainty. Could it affect confidence, delay decisions or put further pressure on prices?

At My-French-House, we’ve followed the French property market since 2004 and lived in France through these times of change. Elections traditionally influence the national market and buyers’ mood, but they’re just one part of a wider picture.

To understand what may happen in the months ahead, we’ve asked several property experts across France to share their views. Their responses suggest that buyers remain interested but cautious, with no consensus on how prices will move in 2027.

Understanding the French Electoral Cycle

France holds several types of elections. Understanding how they differ helps put their potential impact on property into context and helps expats living in France understand how the French electoral system works.

The president of France is elected every five years. Voting usually takes place in two rounds: if no candidate wins an absolute majority in the first, the two leading candidates proceed to the second, which is two weeks later. Under the Constitution, French presidents may serve no more than two consecutive terms. Emmanuel Macron has reached that limit, so voters will elect a new president in 2027.

Parliamentary elections are held separately; this is how they work. French voters elect members of the National Assembly, known as députés, who vote on legislation and help determine whether the government can put its programme into practice in everyday life. Although parliamentary elections (élections législatives) have often followed presidential elections, they are not automatically required after each presidential vote.

Lastly, France also holds municipal elections to elect local councillors and mayors. These can matter to property owners because local authorities influence planning, local taxes, services and the development of communes, towns and villages.

For buyers, this distinction matters. A newly elected president may set his vision and the broad direction of government policy, but the balance in Parliament can affect how easily that policy becomes law.

The 2027 Election Timetable & What May Follow

The first round of the presidential election is scheduled for 18 April 2027, with the second round on 2 May 2027. Even though it may seem a long way off, politicians are already preparing for a lengthy, divisive campaign, with some already calling for the dates to be rearranged.

The possibility of further elections adds another layer of uncertainty. The current National Assembly’s term is scheduled to continue until 2029; however, the next president could decide to dissolve it and call early legislative elections. So, elections in 2027 remain a possibility rather than a certainty.

Laurent Bounet, an English-speaking lawyer in the notarial practice at GACP near Toulouse in SW France, notes that the key question is whether the new president will have a parliamentary majority with which to implement their programme.

The election results alone will not determine the market’s direction. The policies proposed, the parliamentary situation that follows, and the broader economic environment will all play a role.

What Property Professionals Are Seeing

The professionals we spoke to do not suggest that buyers have lost interest in France and property, and we know this too. Instead, they describe a more cautious market, where some clients take longer to decide and negotiate more carefully.

Laurent Bounet, who we have known and worked with for over 20 years, describes the market as recovering but fragile. Activity varies considerably by location, property type, and price range. Buyers are asking more questions and taking their time before making an offer.

As he puts it, “Buyers don’t like a lack of clarity.”

That observation is particularly relevant around an election, especially when electing a new head of state. Some buyers may prefer to wait until the political direction becomes clearer, especially if they are considering a rental investment or are concerned about possible tax changes. Others will continue with their plans because they have found a property that meets their needs or because their purchase doesn’t depend on short-term market movements.

Guillaume, our golf-loving partner in the Dordogne, has a somewhat different perspective. He is seeing a few more investors and believes property can remain an appealing option when other investments seem uncertain. He also notes that conditions can differ considerably between local markets, with some agencies performing well while others are struggling.

Freddy Rueda, a longstanding estate-agent partner in Hérault, tells us that the current mood is quieter. He says clients are not talking much about the election itself, not yet anyway.

These are individual observations, not a national survey. France is not a uniform property market, and demand for specific areas or types of homes can vary considerably across such a large and diverse country.

Will Property Prices Fall in 2027

These property professionals are not predicting a dramatic nationwide fall in prices. Their views range from modest downward adjustments to the possibility that any decline could prove short-lived.

Guillaume believes prices could edge down if sales volumes weaken, although he expects any adjustment in his part of the Dordogne to be measured. In his view, character and distinctive homes may hold up better than properties that need substantial work or are priced above what the market will support.

Freddy recalls that previous expectations of falling prices have not always materialised. He considers a potential decline of around 5%, but also suggests that any fall could be followed by a relatively quick recovery post-election. He does not rule out the possibility that prices may not fall at all, mainly due to a lack of stock ahead of the summer.

Laurent takes a similarly cautious approach. Recent market adjustments do not mean property will lose value. Well-located homes in good condition should remain attractive, while properties requiring substantial renovation or carrying unrealistic asking prices may need further price reductions to find a buyer.

In truth, no one knows how the market will be affected. For buyers, the condition, location and asking price of a property are more useful considerations than assuming that the French housing market will move in one direction; it’s not that simple.

The Effect on Buyers and Sellers

Political uncertainty can affect when a transaction takes place without necessarily changing the underlying reasons for buying a home. Some purchasers may decide to wait for the result, while others may proceed because they have found the right property. Those planning a longer-term move to France should consider taking advantage of this buyers’ market and the weakening euro.

Mortgage rates will also remain important. If borrowing becomes more expensive, which is likely, some buyers may need to lower their budgets or reconsider what they can afford. However, it would be premature to assume that the presidential election itself will push mortgage rates up.

For sellers, realistic pricing remains important. Vendors who need to move may want to “react” to the offers they receive, while others may prefer to wait rather than accept a price they consider to be too low. The outcome will depend on the property itself, its price and condition, and the strength of local demand.

International buyers should also distinguish between purchasing a French home to live in, buying a second home, and investing in a rental property. Each involves different financial and practical considerations. Anyone buying to let or Airbnb should check the current tax and regulatory position before committing, rather than basing a decision on assumptions about what a future government might introduce.

A Cautious Outlook, but No Reason to Assume the Worst

All three offer different outlooks for 2027. Laurent is neither pessimistic nor expecting a significant rise in prices. He believes opportunities will remain for cash buyers and for properties sensibly priced. Freddy’s outlook is more cautious, while Guillaume remains confident in the attractions of the Dordogne and the strength of his local market.

His confidence reflects a genuine point: a region’s appeal does not just vanish during an election campaign. Landscapes, architecture, quality of life and the character of individual towns and villages continue to attract property buyers and investors.

For overseas buyers considering a purchase in France in 2027, the sensible approach is to keep an eye on the market without trying to predict the election outcome, and research as much as you can.

Consider your budget, financing, intended use of the property and estimate how long you expect to own it. If you find a suitable home at an attractive price, it may not make sense to delay your decision, especially with the European currency losing ground against most foreign currencies. Equally, there is no need to rush into a purchase before you are comfortable with the figures and the timing.

Interesting Times Ahead

The election may influence when some people act, but it will not affect every buyer or every region of France in the same way.  As ever in French property, the actual home, its location and its asking price may matter more than the headlines.

We hope this is useful and would like to thank Freddy, Laurent and Guillaume for their insights into the French market. Combined, this would be over 100 years of experience, and without talking about politics! The only certainty at this stage is that the next months are going to be fascinating; you could say, “typiquement Français”!