How far away are the enthusiasm, the desire and the sparkling side of the Paris Olympic Games, when we put ourselves on the side of real estate agents. Several networks have continued to publish their economic reports this month of July, just as the notaries did, and if they are not alarming, it is clear that the sacred fire is rather in the Olympic cauldron than between sellers and buyers. At Guy Hoquet, we note in particular that buyers are taking their time like never before to complete their transactions.
A duration that the network explains with two factors: the political uncertainty that reigns on one side and on the other the sellers who do not seem to be in a hurry to sell refusing to review the prices downwards. Noting it “increasing stocks of goods for sale”Guy Hoquet regrets that his average prices on the territory have increased by 2.4% in one year between January-July 2024 and 2023. If the network records a drop in prices of 1.3% in the Île-de-France, the increase is 4.5% in the region PACA.
A continuous decline
For their part, in the latest economic report of July, the I notaries confirm it at the end of May “sales volumes continue to decline” but studying the preliminary contracts we realize that the rate of decline is slowing down. What remains is that “this movement could be thwarted”always from the same factors: the political context difficult to decipher and the impact it could have on the recent and fragile easing of access to credit and the erosion of rates that has yet to be confirmed. As for prices, if the trend remains downward, lately according to sales promises it has eased. Paris would thus go from 9,430 euros in May (-7.3% in a year) to 9,460 euros in September (-6.1%). And in the Île-de-France region, this annual decline would go from 7.4% in May to 5.5% in September.
As for the Junot network, present in Paris, its region and Lille, it has taken stock with all its agencies to test the summer temperature and the impact of the Olympics. The result: a generally calm market, with a very wait-and-see attitude and a very little perceptible impact of the Olympics. This does not prevent the most optimistic real estate agents from imagining that, if the momentum of the current success of the Olympics continues, they could attract new foreign buyers as early as September.
Especially since many professionals believe that there could be an influx of new properties on the market at that time, properties that had been withdrawn in the hope of being offered for tourist rental at a high price. Despite everything, most of them fear that the political impact will be much stronger than that of the Olympics. The possibility of La France Insoumise entering the business worries both foreign and French clients, pushing them to wait until the start of the school year to see things more clearly.