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Style: Immobilier: Cities where prices should drop in 2023

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Immobilier : les villes où les prix devraient baisser en 2023 © Pixabay Real estate: cities where prices should lower the real estate market in 2023 could turn to the advantage of buyers in certain cities in 2023, predicts the Orpi network . Sellers will have to consent to price reductions if they wish to carry out their transaction.

The market is finally regulated. After two years of euphoria, the real estate sector experienced a return to normal in 2022, underlines the Orpi network in its report published on December 21, 2022. Faced with an increase in prices of 6% over the year, The drop in sales compromises is assessed at 10% at the national level. "A smooth landing, a sign that optimism always has its place on the real estate market," said Orpi.

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In large cities, several trends emerge. Some see the rise in prices beating after exceptional years. What rebalance the relationship between sellers and buyers. This is the case of Paris where prices reached their ceiling in 2022, to finally be reduced by 3%. The number of real estate transactions was thus able to start up. Conversely, in cities like Strasbourg or Montpellier, whose prices increased by 8%, the number of sales compromises has severely dropped: -11% for Strasbourg, -13% for Montpellier. In Bordeaux, the tumble reaches even -38%, and prices continue to increase by 6%.

"The drop in prices is not alarming"

The post-Cavid period pushed the French, suddenly keen on green and space, to move away from large agglomerations to settle in medium-sized cities. The growing arrival of larger purchasing power has caused a pricing, artificially offset by the collapse of interest rates. The number of buyers has therefore logically fell, the latter being financially unable to follow this price inflation.

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Result: since January, prices have increased by 14% in Aix-en-Provence, while the number of compromises fell by 55% at the same time. In Orthez, this is the big gap: the price per square meter jumped 20% while the number of transactions melts by 27%.

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with this return to normal, the volume of compromises signed finds its level of 2019. Except that the economic context is not the same. Inflation, new renovation standards and especially the increase in interest rates dissuade many French people from buying good. "The market trend seems to prove the wait -and -see and prudence of the French, marked by more difficult conditions of access to credit," said Guillaume Martinaud, president of Orpi. Some cities, however, blow a wind of optimism: by accepting a slight drop in prices, the number of sales could start upwards and revitalize the market. We can predict a certain rebalancing, it is a positive sign and which proves the resilience of the market! ”

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Middle cities on the front line

The owners will therefore have to make financial efforts. This is also the opinion of Henry Buzy-Cazaux, the president of the Institute of Management of Real Estate Services. “The sellers will have to be more flexible to give new life to the market. There is nothing alarming for the prices to drop: demand can thus resolve, and the number of buyers increase. "

What are these municipalities which should be flexed the price per square meter? “The medium-sized cities that exploded the fastest after the covid are certainly those that will have to go down the fastest: Brest, Dijon, Angers, Perpignan, Poitiers…”, predicts Henry Buzy-Cazaux, who assesses this drop to “Certainly more 5%, perhaps even between 10 and 15% for certain cities ”. They will not be alone in this case. The municipalities whose number of sales compromises has dropped the most - Montpellier, Bordeaux, Lille Strasbourg - will quickly have to adapt their prices to appease tension on the market.

"It's a good thing", according to our real estate expert who judges that a drop in prices can only be positive. “It has been fifteen years since the prices had completely disconnected from household income. With the rates that we have known, we have accommodated a pathology. Today the reality catches up with us and the prices will have to line up. "

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