Anticipated cost of repaying a real estate loan for a newly acquired T3 property in major urban areas by 2025.
🔥 New Three-Bedroom Apartment Prices Drop in Major French Cities!
(Scroll down to find out how much you'll pay for a cozy abode in the City of Light!)
By a Real Estate Aficionado (That's me! 🤓)
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Ever heard the phrase, "New homes are tough on your wallet?" While it's true that splashing out on a brand-spanking-new property can be a hit to your savings account, you'd be pleasantly surprised to discover that some of France's largest cities have seen a decrease in the price of three-bedroom apartments over the past six months!
Here's the lowdown on what you could expect to pay in the ten biggest metropolises:
- Toulouse – The city of violets leads the pack as the most affordable, with a three-bedroom apartment setting you back approximately 292,000 euros. With monthly mortgage payments averaging less than 1,671 euros, you'll be relaxing in your brand-new crib before you know it!
- Lyon – The monthly payment required to buy a snazzy new three-bedroom apartment has gone down 4% in six months. Now costing around 400,000 euros, you'll part with just over 2,248 euros per month.
- Nantes – Cheer up, coastal dwellers! Nantes has seen a decrease of 3% in its three-bedroom apartment prices, with a monthly mortgage repayment of approximately 1,777 euros.
But not everyone is celebrating, as Bordeaux homebuyers face a slight increase in their monthly payments. With prices rising 4%, the monthly repayment for a new three-bedroom apartment is now 1,801 euros.
So what's happening in the land of delicious cheese and escargot? Well, recent reports state that new home prices have stopped rising, and mortgage rates have fallen. According to mortgage broker Empruntis, the average rate for a 20-year loan is now 3.35%. Add to that the dwindling prices of apartments, and you've got yourself a housing market on the rise! 📈
Investing in real-estate, particularly three-bedroom apartments, might be a promising venture in major French cities due to the recent drops in housing prices. In Bordeaux, for instance, the prices have slightly increased, but in cities like Toulouse, Lyon, and Nantes, the costs have decreased, offering more affordable options for potential homebuyers. Furthermore, with mortgage rates lowering and the house price growth coming to a halt, the French housing market seems to be settling into a more investor-friendly state.
