French Property Price Index 2009
French Property Prices stabilise after 6% drop in 2009
French property prices for existing homes are expected to end up down by 6.2% on average in 2009 as compared to 2008. Apartments have faired slightly better with an average decrease of 5.6% while homes have had an average decrease of 6.9%.
The good news is that after the biggest monthly drop in December 2008, prices have slowly recovered and now seem to have stabilised. Prices in November 2009 are up 1% on average from November 2008.
French existing home prices experienced dramatic double digit growth at the beginning of the decade. Fortunately, even with the global economic downturn, prices have weathered the storm reasonably well.
Existing French Home Prices - percent annual price change vs. previous year
| Apart's | Houses | Total | |
|---|---|---|---|
| 2003 | 16.4 | 11.0 | 14.0 |
| 2004 | 17.8 | 12.5 | 15.5 |
| 2005 | 11.1 | 10.5 | 10.9 |
| 2006 | 7.2 | 7.2 | 7.2 |
| 2007 | 3.1 | 4.3 | 3.6 |
| 2008 | -1.2 | -4.9 | -3.1 |
source : FNAIM November 2009 and December 2008
