The first lesson provided by notaries, various agency networks, and the National Federation of Real Estate (Fnaim) is that the Mediterranean region is resisting the price decline. « The sun and the sea still attract, even if we don’t know for how long, » says Delphine Morgant, a real estate agent at IAD in Saint-Martin-de-Crau (Bouches-du-Rhône). Antibes (Alpes-Maritimes), Fréjus (Var), Nice (Alpes-Maritimes), Nîmes (Gard), and Perpignan (Pyrénées-Orientales) are still experiencing price increases.
In these cities, the price per square meter ranges from 2,000 to 5,000 euros. Some even display prices similar to those in Paris and do not seem to be decreasing. « This is particularly the case in Antibes, where prices reach almost 10,000 euros per square meter. The neighboring city of Cannes [Alpes-Maritimes] is not far behind, with prices at 12,000 euros per square meter, » according to the Guy Hoquet agency observatory.
It seems as if the tourism sector is unaffected by the downward trend. The Fnaim observes that ski resorts and seaside resorts have seen their prices rise by 6% and 3.8% respectively in the past year. On average, properties in the Hérault department have increased by 4%, the same in Savoie and Haute-Savoie. « In these areas where retirees settle and wealthy individuals purchase second homes, buyers do not necessarily need a mortgage. Therefore, they are less affected by high interest rates and support the demand, » analyzes Loïc Cantin, president of Fnaim.
The cities on the Atlantic coast are also not decreasing. La Rochelle (Charente-Maritime) is slightly increasing with a price per square meter reaching 5,000 euros. Lorient (Morbihan) and Quimper (Finistère) are also still rising. Ille-et-Vilaine is climbing by 2% and Morbihan by 3.8%. « At this stage, we can still sense a beginning of stabilization in seaside resorts after years of increase, » says Emmanuel Perray, Director of Economic Studies at Fnaim. In Pyrénées-Atlantiques, you still have to count close to 10,000 euros per square meter in Biarritz or 7,000 euros in Anglet.
However, prices in the department of Loire-Atlantique decrease by 2.4%, with Nantes losing 3.1%. Saint-Nazaire, where prices have risen significantly in the past three years, also loses almost 7%. La Baule, the popular seaside resort in the area, still displays prices over 7,000 euros per square meter and continues to rise (+2.6% in one year). Like Nantes, major cities seem to be experiencing a lack of affection. Most of them see their prices decrease or remain stagnant, particularly Bordeaux, Lyon, and Toulouse.
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