Real estate prices continued to increase in 2022, but a decline in the volume of transactions began from the end of the third quarter, according to the annual study of the chamber of notaries. The trend then accelerated to reach -3% year-on-year in December. Notaries estimate the annual price increase at 7,7% for old apartments, at 11,4% for new apartments and 5,7% for old houses. According to notarial data, the median price of old apartments stood at €2,400/m² in 2022, in a market where sales volumes are still very high. For new apartments, in continuity with previous years, the study shows a sharp increase (+11 %) median prices per square meter. It is now no longer rare to see prices of more than €5,000/m² for new apartments in many towns on the island. ! For old houses, the median transaction price increases significantly in the South and especially in the West, where 25% of sales exceed €610,000. The trend remains bullish, but more disparate for building land, depending on their surface area and location. Average prices fluctuate around €300/m² in many municipalities. “The dream of becoming a homeowner today for more people tends to no longer come true”, comments Me Pons-Servel, president of the chamber of notaries.
Real estate transactions : beginning of a decline, according to notaries
