Property sales and prices down

Sales slowed 11.4% over a year, says a leading estate agents’ chain; prices have also dropped

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PROPERTY sales have slowed and prices fallen slightly in figures revealed by leading estate agents’ chain, Century 21.

Non new-build sales at the group dropped 11.4% between the first quarters of 2011 and 2012, rising to 15.5% in Ile-de-France and 17.4% in Paris.

From the second quarter of last year to the first quarter of 2012 the average price across the country dropped 2.1%, to €2,578/m2. It fell 0.1% in Paris.

This comes as Paris and Ile-de-France notaires said prices in Paris dropped 0.36% between November and January, with an average price of €8,340/m2.

Century 21 president Laurent Vimont is expecting a 15-20% drop in non new-build sales over this year. However he is not expecting to see further significant drops in price.

After years of price rises, the market has “come out of the frenzy and returned to sense,” he said. However a lowering of prices would not last because there was still plenty of demand.

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