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Real Estate Prices in France: which cities were the biggest winners and losers in 2016?
2016 was a great year for the French real estate market. Many cities had incredible growth and saw their prices soar. Others saw prices drop and are now quite a bargain.
In 2016, real estate sales in France rose by an average of 2.1% through December 2016. Around 840,000 apartments and houses changed owners over the year. Incredible numbers for an incredible year, but nevertheless there are stark disparities between cities. Here are the top 5 and bottom 5 cities in France in terms of 2016 price growth.
The top 5
Also known as the Rome of France, the beautiful southern city saw its apartment prices rise by 11.5% in the last year, reaching € 2,052 per square meter.
Located near the junction of Luxembourg, Germany and France, the northeastern city had an annual growth of 10% and has reached an average price per square meter of 2,235 €.
The wine capital in the southwest saw its prices increase by 9.5% over the last twelve months. A square meter will now cost around 3,667 €.
- Le Mans
Le Mans is ranked 4th on the list. With an increase of 9% over the year for an average price per square meter of € 1,920, the Loire Valley city is doing well.
Another Loire treasure, Nantes’ prices have reached € 3,117 per square meter, rising by 6.9% in 2016.
Though farther down the list, Paris prices are also up, year over year about 4.6% in 2016 according to Meilleuragents.com, and continues to be a sellers market with about 1.4 buyers for every property on the market.
The bottom 5 (+ 1)
The French city with the largest price decrease in 2016 was Perpignan. The beautiful Catalan city took a huge hit, with its prices falling by 9.3% and reaching an average of € 1,480 per square meter.
Part of UNESCO’s creative cities network, Saint-Étienne has nevertheless seen its prices drop by 7.9% in 2016 reaching an average of € 1,314 per square meter.
- Le Havre
Prices in Le Havre fell by 5.5% over the year. It now costs an average of € 1,924 per square meter to acquire property in the Normandy port city.
Amiens, Paris’ northern neighbor, comes in fourth. The “Little Venice of the North” saw its property prices fall by 3.4% in 2016, to about € 2,129 per square meter.
The “Capital of the Alps” saw its prices decrease by 1,8%, and the square meter of property now costs around € 2,504.
Toulon deserves an honorable mention, having made it to SeLoger’s “Where to buy property now” list last year, as one of the most affordable cities on the French Riviera. Its prices dropped by 0.5% in 2016, reaching a € 2,442 per square meter average. The prices on older apartments alone decreased by 2.5%. A Mediterranean investment to strongly consider.