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House Prices in France : Property Price Index, French Real Estate Market Trends in the Long Run

publié le 10 novembre 2016 (modifié le 30 novembre 2016)

French home price index and property market statistics in the long run : price (residential property), number and amount of sales, rents, etc.

Property Price and Rent History, 1936-2016 in France and 1200-2016 in Paris : Statistics and Analyses.

Updated November 2016. Next update around December 12, 2016.
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In French real estate prices

Historical statistics :

  • on the French property market : apartment and house price and rent indices, number and value of property sales, mortgages, households’ mortgage debt, housing affordability, housebuilding, etc.,
  • and its environment : income per household, interest rate, inflation, value of other investments (stocks, bonds, gold), population, number of households, etc.,
  • including some international comparisons (mainly with the United States, the United Kingdom and Germany),
  • presented in a long run perspective and compared to long-term trends.

1. French property market : 2016 updates
2. House prices and housing market in France : permanent documents in English
3. House prices, rents and housing market in France : permanent documents in French

Property price France FAQEnglish FAQs (French FAQs)


1. French property market : 2016 updates

Monthly or quarterly updates of the permanent documents listed in § 2. and 3. below.

1.1. The French housing market and its environment since 1800 : charts in English

House Price in FranceEvolution since the 19th century of the price, value and number of property sales in France, as well as of rents, inflation, income per household, interest rates, mortage credit, households’ mortage debt, housing affordability, housebuilding, household numbers and stock prices, with respect to long term trends. Chart 2.2. compares the evolution of home prices in France, the USA, the UK, Germany, Spain and the Netherlands.

1.2. French home price and rent indices published by the National Institute of Statistics

a) Prices
- Existing property : Notaires-INSEE apartment and house price index complete historical data since 1992, including local indices (Paris, Lyon, Marseille and their regions and urban areas). Methodology : in English, short version ; in French, complete version.
- New, and new and existing property

b) Rents : principal home rent indices (France, France excluding overseas departments) published by the French statistical office (these indices track rents actually paid by tenants, excluding expenses, and are part of the consumer price index, of which they weigh around 6% ; they must not be mistaken with the reference rent index, used to regulate leases ; see exhibit 4.7. page 45 of this paper for a comparison of the various measures of rent increases),

1.3. Number of existing apartment and house sales in France

 2016 old property sale FranceHistorical data from 1967 to 2016 (12 month-estimate, all of France). Method (in French).

1.4. Number of sales of properties subject to the regular transaction tax in France, by department

Map real estate sale number, 2016, France, regular property transaction taxHistorical data from 2004 to 2016 : number of sales of properties of all type (residential or not) taxed at the regular transaction tax rate (12-month estimate, all of France and by department) : data, charts and map. Method (in French).

1.5. Property transaction tax base, by department

Assiette des frais de notaire par département: carte Property transaction tax base from 2000 to 2016, updated monthly, by month, tax rate and department : maps, charts and values.

- France, all departments and all regions

- Data and charts by department : click on the department on the map or in the list below

- Method (in French).

1.6. Other French property statistics

French statistical services provide many other statistics about French real estate, including :
- the quarterly housing and construction statistical bulletin, which presents more than one hundred quarterly statistical series since 1980,
- number and price of new dwellings sold by property developers, as well as the National Institute of Statistics’ quarterly property development survey,
- number and price of constructible land plots and of individual houses built by individuals on these plots,
- number of building permits and construction,
- construction cost index (ICC),
- principal home rent indices (France, France excluding overseas departments),
- various other property indices,
- and many yearly data since 1984 in the National Housing Account ("compte du logement").

The Bank of France publishes data about households’ residential mortgages (outstanding amount ; amount, interest rate et term to maturity of new mortgages ; proportion of bridge loans in new morgages) and about builders’ outstanding mortgage amount, as well as a monthly survey of mortgage origination.

Monthly construction economic reports are published by the National Institute of Statistics as well as by the Bank of France. The National Institute of Statistics also publishes quarterly reports about small construction companies and builders. CGDD/SOeS publishes a quarterly property-housing-construction report.

Exhibit 12 of this report describes 79 statistical sources about housing.

79 statistical sources about housing are described in exhibit 12 of this report.


2. House prices and housing market in France : permanent documents in English

  • Long Run Data Series, 1800-2015, which support and update the charts and the papers listed above and below : residential property price and rent indices, number and total value of property sales, interest rates, mortgage duration, households’ income and mortgage debt, value of investments in housing, stocks, bonds and gold, consumer price index, construction cost index, population, number of households, etc. These series apply to France but also, in some cases, to the USA and the UK. (Sources of these series).
  • « Comparing Four Secular Home Price Indices », June 2008. This paper compares four secular home price indices in France, the Netherlands, Norway and the United States, one of which - for Paris - goes back to the 13th century. It stresses that their long term trend should be interpreted with caution.

3. House prices, rents and housing market in France : permanent documents in French

3.1. Property Prices and Rents in the Long Run : Presentations

3.2. Home prices

  • « The Elasticity of Home Prices with Respect to their Number », March 2015 (update of an August 2011 paper on the same subject). Based on estimates found in the literature, on a comparison between French departments, and on a comparison between France and the United Kingdom, the elasticity of home prices with respect to the number of dwellings seems to be in the -1 to -2 range, which means that when the number of dwellings increases by 1% their price decreases by around 1% or 2%, "everything else being equal". The size of this elasticity appears little sensitive to the urban type, to the local level of home prices or construction subsidies, etc.
  • « Differentiation of Home Price Growth among French Departments, 1994-2010 », August 2011. French home price growth from 2000 to 2010 has been very different depending on the department, ranging from 59% in Territoire de Belfort to 138% in Bouches-du-Rhône. It had been widely differentiated in the 1990s too. This paper aims at characterizing this differentiation by comparing it to that of other local parameters : demography, housebuilding, change in income per household and in unemployment rate, occupancy status (owner-occupied versus rented, principal home versus vacation home, vacancy rate, etc.), population, buyers’ and sellers’ nationality, age, etc.
  • « Home Prices in the Long Run », March 2010. This paper recalls the evolution of the price of non-property assets over the past two centuries, presents the evolution of home prices since the 13th century, their main properties over the latest decades, including in relation with economic, financial, demographic and housing aggregates, considers residential property as a long run investment, describes the number and the amount of dwelling sales, draws prospective scenarios then concludes.

3.3. Rents

  • « Rents and Incomes since the 1970s », June 2013. For the past forty years, INSEE’s rent index has been growing parallel to the average French household income, but rents have doubled as a proportion of tenants’ income. This stems from tenants’ relative pauperization, which mirrors young households’ pauperization, and from the fact that the average rent has been growing faster than the rent index.
  • « Existing-Home Prices and Rents from 2000 to 2010 », P. Gallot, E. Leprévost et C. Rougerie (INSEE), INSEE-Première, May 2011.

3.4. Numbers and amounts of property sales, property transaction taxes

  • « Number of dwelling ownership changes by type and by occupancy status », August 2014. From 2000 to 2010, around 800 000 existing dwellings were sold every year, except for a dip in 2008 and 2009, and 330 000 changed owner by other means (inheritance, donation, etc.). In addition 160 000 incurred a "virtual" ownership change. The paper provides estimates about the occupancy status and the age of the owner before and after the ownership change.
  • « Occupancy Status of Dwellings Purchased or Built by Individuals », June 2007. Estimates of the decomposition of existing and new home sales by occupancy status (owner-occupied principal home, rented principal home, other principal home, secondary home, vacant), by type (apartment, individual house), size, location, etc., for years 2001 and 2003.

3.5. Change in Housing Conditions in the Long Run

3.6. Miscellaneous papers

Property price France FAQEnglish FAQs (French FAQs)

This file has been prepared and is updated by Jacques Friggit, as part of CGEDD’s watch and prospective mission. The analyses and points of view expressed are the author’s, and, in particular, not necessarily CGEDD’s or the government’s.

 
 

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