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French house prices 'more stable'

23rd July 2010 | back to article listings BACK    print this article PRINT

New figures released have shown the French property market is showing signs of stability this year after a turbulent 2009.

According to the June 2010 report by the Federation Nationale de l'Immobiliers (FNAIM), property prices have fallen 0.7% over the last 12 months compared with a 4.9% drop last year.

Figures from France's professional body of real estate agents showed the average cost of property in Marseille is 3,035 euro (£2,557) per square metre.

This is in line with prices in other cities across the country, including Toulouse and Lyon, but well below Paris prices.

Christophe Falbo, a member of real estate agency Emile Garcin, said this year would be an important year for Marseille for its property market recovery.

He said: "We had a difficult year last year, with some readjustment of prices, but now we are seeing them stabilise, and there is a large amount of interest in the area."

A survey of FNAIM members and the public showed that the majority of people think the French property market is stabilising, and that over the next few months, prices will have very little movement.

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