What if now is the time to get some good real estate deals? While from a national point of view, houses are currently struggling to sell more than apartments the phenomenon is further amplified in the countryside. According to the recent annual report on rural land markets carried out by Safer (land development and rural settlement company), the market for houses in the countryside has simply “stalled”. The decline in sales that began in 2022 has in fact accelerated in 2023 to fall back below the 100,000 transaction mark and, above all, the drop in prices is even greater than that in sales volumes.
In detail, transactions fell by 24.2% (to 90,750) while the overall value fell by 27% to arrive at an average lot valued at 202,000 euros (down 4.1% over one year). The surface area of the average lot also fell by 4.6% but remains significant: 5,200 m². In a dashboard where everything is trending downward, one indicator catches the eye: the average age of buyers.
It is up significantly by 7 months to reach 46 years and 2 months. The explanation is quickly found: the tightening of conditions of access to credit and the increase in interest rate primarily impact the youngest, who are starting out in life and/or have limited savings. Furthermore, the proportion of foreign buyers remains stable at 4.7% even if they represent more than 10% in the Provençal hinterland, Poitou, Limousin as well as in the border areas of Belgium and Luxembourg .
The north on the decline
In terms of prices, even if they remain high in coastal areas and the Paris region, there are now seven departments where average prices are less than 100,000 euros. and even two below the 80,000 euros mark.
In this context of generalized decline in prices and the market, only the Ile-de-France departments (Yvelines, Essonne, Seine-et-Marne) as well as Haute-Savoie are experiencing price increases greater than 10%. On the decline front, the greatest declines are observed in the northern half of the territory (Sarthe, Aisne, Côte-d’Or) but also in the Alpes-Maritimes (- 13%). Among the curiosities: Haute-Marne and northern Burgundy where prices are falling while activity is maintained.