French house prices continue to rise modestly
# France Housing Market
French house prices continue to rise modestly, despite continued social unrest and broader eurozone slowdown. In Metropolitan France, house prices rose by a modest 3% during the year to Q1 2019 (1.8% inflation-adjusted), at par with the previous year's growth, according to the National Institute for Statistical and Economic Studies (INSEE). It was the thirteenth consecutive quarter of year-on-year price hikes. Quarter-on-quarter, house prices increased 0.7% in Q1 2019 (0.9% inflation-adjusted).
Paris saw a significantly stronger house price increase than the wider nation. The average price of existing apartments in the capital city rose by 6.5% (5.2% inflation-adjusted) to €9,680 (US$11,000) per square metre (sq. m.) during the year to Q1 2019, according to the La Chambre des Notaires de Paris. During the long housing boom which lasted from 1997 to 2007, French house prices surged by 150% (112.5% inflation-adjusted).
Economic growth is expected to slow further to 1.3% this year, according to the European Commission.
There are no restrictions on foreign ownership in France. Most property is freehold. Apartments are mostly held in two forms of freehold: co-ownership (which has meetings of co-owners, with votes taken and accounts kept), and volumes, adapted mostly for mixed-use developments. There are also leaseholds, for up to 99 years.
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