> > > > Property prices in Brittany, price per m² drops

Property in Brittany, price per m² drops Category: Real estate news Chapter: Real estate in French regions and departments Property in Brittany: prices are falling Property prices in Brittany are falling much like in most regions of France. After several boom years, the market appears to be settling down to a more reasonable level, according to the Regional Committee of Notaries. In Brittany, like in other regions, properties in the 120,000€ to 250,000€ price bracket (i.e. 80% of the market) are the most affected by the recent financial crisis. Sellers either have to accept much longer time scales when selling their property or adjust their prices downwards. Whereas prices of apartments in town centres remain relatively stable, prices in the suburbs of large and average sized cities are falling. For example: In Quimper, the number of transactions has dropped by 10% to 15% since the start of 2008 In Nantes, the price of a 2-roomed apartment fell by 11.7% between January and October 2008 Even the highly sought after Morbihan is feeling the effects of the property crisis. Transactions have fallen by 15% to 40% according to estate agents, the first time this has happened in over a decade Prices per m² in Nantes, Rennes, Brest and Saint Nazaire Old build 3 room apartment* Nantes From 2.050€/m² to 2.650€/m² Rennes From 1.910€/m² to 2.480€/m² Brest From 1.270€/m² to 1.590€/m² Saint Nazaire From 1.680€/m² to 2.160€/m² * Transactions from 01.08.2007 to 31.07.2008 New constructions are also affected by the financial crisis The number of new properties made available for sale in Brittany fell by 30% in the 1st quarter of 2008. Premium property is still in a healthy position Only premium real estate (prices around 1 million Euros) are still finding buyers. However, real estate professionals have noted a drop in the number of foreign investors. Updated on: 28/11/2008 And on the same subject: Notary Real estate listings Brittany To know more : Hôtels Quimper 2008-2012 L'immobilier 100% entre Particuliers. All rights reserved Sell or buy a property between private individuals Real estate news French news International news Luxury real estate Real estate in French regions and departments Real estate in French towns European news

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