Progression of sales and price declines remain moderate
● Number of sales of older housing
35,570 older properties were sold from September to November 2013, an increase of 21%comparedwith the same period in 2012 and 6% compared with 2011.
This recovery for (in sales of older properties) has benefited the apartment market (+21% compared with 2012) as much as the house market (+22%). This increase in sales has been witnessed in all departments within Ile-de-France.
The improvement in the volume of sales in the second half 2013 helped to make up for the deficit in activity over the first half of the year. Because of this, sales of older properties in Ile-de-France within the first 11 months of 2013 rose by 2% compared with those recorded from January to November 2012.
● Sale prices of older properties
Changes in prices remain moderate.
In a year, sale prices of older properties decreased by 1.5% in Ile-de-France. This decline, which affected apartments (-1.6%) more than houses (-1.3%), was fairly homogeneous throughout the entire region (-1.3% in Paris to -1.9% in Essonne).
In 3 months, (August* to November* 2013), this trend appeared to be somewhat more pronounced as prices suffered a decline of 1.1 % in Ile-de-France.This decrease is due in part to seasonality. The seasonal factor has a greater effect on houses : if prices are not seasonally adjusted we can see a 1% decrease compared with a +0.4% decrease if we take seasonality into account (up to +1.8% in Hauts-de-Seine). However, some markets recorded a decrease in prices of 1.3 % taking into account seasonal variations (in older properties - apartments in Essonne andVal d’Oise, houses in Seine-Saint-Denis).
According to "the Chamber of Notaries of Paris", the price per m² for appartments in Paris stood at 8,200 € at the end of November, a decrease of 1.1 %over 3 months and 1.3 % over 1 year.
Early indicators from the Chamber of Notaries of Paris - Ile-de-France (calculated on pre-contract prices), anticipate a very slight rise* of prices in the capital in Spring 2014 by a few tens of Euros per m². The very same observation has been made for appartments (older property) in Hauts-de-Seine. Beyond these few very modest variations, it must be remembered that in both these departments, prices continue to oscillate within a narrow range, without any particularly resounding changes.
The property market is favourable towards purchasers who are currently finding themselves in a position to be able to negotiate on prices.
(*) The slight increase in prices expected in the capital is explained by the fact that regularly maintained and renovated properties tend to be chosen by buyers in periods of economic downturn at a price that can sometimes exceed that of the market. This then leads to a slight overall increase in the market.
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