Will property prices fall in 2024? Will they fall in particular regions more than others or, on the contrary, will they increase in the absence of stabilization? The outlook for professionals in the sector is, for the most part, good news, with a drop that could go beyond 3%.
Will the real estate market recover in 2024? The answer would be in the affirmative if we rely on the projections of some 3,750 professionals who mostly anticipate price drops for this year. Indeed, according to a survey, carried out by La Boîte Immo exclusively for the benefit of Capital. “This specialist in software for these small businesses has felt the pulse of local brands, which cover the entire territory. And the results speak for themselves. 70% of the agencies that responded to this survey anticipate price drops greater than 3% in their region,” note Capitalwhich specifies that the investigation was carried out between Tuesday January 16 and Wednesday January 17.
So, during these two days last week, these agents were asked to respond if they anticipate, each in their region, for 2024, i.e. “a significant drop beyond -5%”Or “a drop between -3% and -5%”, or rather a stabilization of prices with fluctuations between “-3% and +3%”or even a “+3% increase”.
In Eure, property prices are expected to fall by more than 5% in 2024.
In detail, in Eure, more than half of the agents questioned anticipate a drop in prices which goes beyond 5%. Nearly half of those surveyed also anticipate the same downward rate in Val-de-Marne and Gironde, for the most optimistic.
Conversely, in the south, particularly in the Côte d’Azur, the results highlight a much more cautious perspective of real estate agents on price developments. Thus, in the Alpes-Maritimes, where no less than 133 responses were recorded, more than half of the agencies (59%) associated with the survey project a price evolution which would oscillate between -3% and +3%. This is the perspective also supported by 43.5% of agents in Calvados, 42.5% of agencies in Charente-Maritime and 48% of those in Corrèze.
Commenting on the perspectives which visibly differ from one region to another, Olivier Bugette, CEO of La Boîte Immo, explains that in real estate, “ we usually say that there is not one real estate market in France, but a multitude “. In fact, the overall downward trend in prices, anticipated by the majority of real estate agents surveyed, is based on the fact that credit rates are still high. Consequently, potential professional sellers will logically have no other choice than to make an effort by lowering prices in the hope of realizing their expected sales.