Top regions of France for property investment in 2023
France is one of the oldest property markets in Europe and the world. Being the second economy in the Eurozone, it provides stability and security for property investors. Buying a house in France is the first step of integration into traditional European society and investing in a long-term connection with its culture and values.
From 239,000 €
Completion in: 2026.III Total of 150 apartments
From 360,000 €
Completion in: 2025.I Total of 124 apartments
From 450,000 €
Completion in: 2026.II Total of 16 apartments
From 289,000 €
Built in 2023 Total of 16 apartments
From 247,000 €
Completion in: 2025.III Total of 21 apartments
From 276,000 €
Completion in: 2025.II Total of 51 apartments
From 258,000 €
Completion in: 2026.III Total of 30 apartments
From 106,000 €
Completion in: 2024.III Total of 800 apartments
Price dynamics by region
Real estate experts in France (FNAIM) point out a decrease in average monthly prices by 0.3% in 2023 after the record figures of 2021, which is associated with an increase in raw material prices and new environmental laws, but annual statistics show an increase at the national level of 6.3%. During the year, a 2% decrease in prices was observed in Paris and Lyon, as well as a decrease in Nantes and Toulouse. However, ski and seaside resorts have consistently high rates of price growth, in which there is an annual increase of more than 10%.
Now post-covid trends continue to have an impact on property prices in France (FNAIM). According to experts, after the pandemic, investors prefer suburbs and medium-sized cities to buy houses. Residents are motivated to move from cities to greener and quieter areas.
In a recent study conducted by the University of Paris and King’s College London, some Parisians believe that the cost of living in the city is much higher than the average level of wealth. Against the background of this trend, the purchase of small apartments in the center for rent to tourists and students has become increasingly popular among investors.
Another price factor is the decrease in demand for property in France in 2022 in comparison to the record figures of 2021. According to the General Council for Environment and Sustainable Development (CGEDD), sales of houses in France decreased by 6.1% compared to the same period of the previous year. The number of transactions in 2022 amounted to 1.109 million real estate objects. The reasons were an increase in the interest rate on loans, the unstable exchange rate of the European monetary unit against the background of the energy crisis of 2022, and, as a result, a decrease in national purchasing power.
4,000,000 €
Total area 277 m² 6 bedrooms
3,360,000 €
Total area 225 m² 5 bedrooms
1,180,000 €
Total area 120 m² 3 bedrooms
5,500,000 €
Total area 409 m² Land area: 814 m²
1,790,000 €
Total area 180 m² 4 bedrooms
14,900,000 €
Total area 550 m² 6 bedrooms
4,900,000 €
Land area: 1,158 m² 5 bedrooms
4,300,000 €
Land area: 1,130 m² 4 bedrooms
On the contrary, the proportion of foreign investment in French property has increased over this period. Among foreign investors in property, the largest percentage are American buyers, as well as representatives of the Asia-Pacific region. Analysts predict a significant increase in demand after the euro stabilizes by 2024 and talk about a favorable moment for buying property at a reduced rate at the moment.
Average property prices in France, April 2023
City | Taxe foncière | House price per m², € | Apartment rent price per m², € |
Paris | 10,082 € | 10,753 € | 30,0 € |
Marseille | 3,716 € | 4,438 € | 15,5 € |
Lyon | 5,099 € | 6,667 € | 17,2 € |
Toulouse | 3,637 € | 4,122 € | 14,1 € |
Nice | 5,071 € | 6,253 € | 18,5 € |
Cannes | 5,942 € | 7,302 € | 17,4 € |
Nantes | 3,907 € | 4,758 € | 14,0 € |
Strasbourg | 3,966 € | 3,654 € | 14,5 € |
Montpellier | 3,449 € | 4,641 € | 15,1 € |
Bordeaux | 4,742 € | 5,507 € | 16,5 € |
Lille | 3,613 € | 3,329 € | 15,5 € |
Biarritz | 8,305 € | 9,235 € | 15,5 € |
Grenoble | 2,978 € | 3,462 € | 13,3 € |
Courchevel | 11,452 € | 11,579 € | 11,8 € |
Chamonix | 7,825 € | 10,713 € | 13,8 € |
Saint-Jean-Cap-Ferrat | 14,559 € | 20,454 € | 15,8 € |
Saint-Tropez | 10,941 € | 18,914 € | 15,4 € |
Paris
Paris is the symbol of French culture, art and luxury. The capital of France attracts the largest business representatives as investors, including in the real estate market. Buying a residential or commercial property in Paris means becoming part of one of the strongest business communities in Europe.
According to the results of a study by the World Travel and Tourism Council (WTTC), in 2022 Paris ranked first in the world in terms of the contribution of tourism to the country’s economy. According to estimates, Paris’ contribution to the economy through tourism has reached 35.65 billion dollars. There is no seasonality in Paris, and it is popular with travelers at any time of the year. Moreover, Paris is a major academic center in Europe, where more than 100 thousand foreign students and young scientists come annually for study and internships. Due to this, one of the best strategies in Paris is investing in property for short-term rental for tourists or students. Most often investors buy studios in Paris in the city center, or close to the metro station.
The gross rental yield in Paris is about 3.53%. Foreign investors who are already French tax residents have the opportunity to invest in rental property and receive tax benefits from the French government under the same conditions as French residents. The PINEL law, aimed at increasing rental housing in cities, provides an opportunity to return up to 21% of the cost of new apartments in apartment buildings.
In 2024 Paris will host the XXXIII Olympic Summer Games, this will develop infrastructure and increase property prices. Therefore, it is profitable to buy apartments in Paris now, they will be completed by 2024 and will be in demand.
According to Meilleurs Agents, renting in Paris in 2023 costs an average of 30 euros per square metre, and buying a studio of 30 square metres will cost on average 302 thousand euros.
Price on request
Total area 48 m² 1 bedroom
From 720,000 €
Total of 6 apartments
484,000 €
Total area 37 m² 1 bedroom
From 403,000 €
Completion in: 2026 Total of 3 apartments
500,000 €
Total area 63 m² 2 bedrooms
From 560,000 €
Total of 8 apartments
From 425,000 €
Completion in: 2025.II Total of 20 apartments
Côte d'Azur
The healthcare crisis in 2020 has increased the interest of international investors to the dynamic property market of the Côte d’Azur. If earlier investments were aimed at investing in tourist housing, now luxury property in a mild Mediterranean climate is attractive for buying for personal accommodation. A special factor is the possibility of obtaining a residence permit after the buying of property and an investment immigration.
Recently, interest in the property market on the Côte d’Azur has been taken by representatives of business in the field of information technology and players of the cryptocurrency market. Remote work has become one of the key factors in the popularity of relocation, and a comfortable climate and weather conditions play a key role in choosing the Côte d’Azur when buying a house.
An important factor influencing this region’s property market is the limited offer due to the local authorities’ policy and Southern France geographical conditions. Therefore, prices remain consistently high even during crises. In 2023, when buying a house, the price is 6,253 euros per square metre in Nice, 7,302 euros per square metre in Cannes, 20,454 euros per square metre in Saint-Jean-Cap-Ferrat and 18,914 euros per square metre in Saint-Tropez, which is 10.2% higher than the previous year.
Investing in rental property on the Côte d’Azur continues to be popular. About 11 million tourists come to the Mediterranean coast of France every year. The region is popular among wealthy tourists from the USA, Great Britain and other European countries. A particularly profitable investment is an investment in new buildings, because under French law there are a number of tax benefits for primary housing. Thus, notary fees will be only 2.5% of the cost, as opposed to 7.5% for the secondary property.
The Côte d’Azur has always attracted people to live by its wonderful geographical location, the beauty of nature, mild climate, developed infrastructure. From here, you can reach anywhere in Europe, thanks to the second largest airport in France located in Nice. From an investment point of view, the airport guarantees not only stable profitability, but also an increase in the value of property.
Pensioners from northern Europe are very fond of the French Riviera for its mild climate. As in all countries of the world, the number of customers from China, as well as Japan and the USA is growing.
Investing in new buildings now — you will receive a guaranteed income of around 6% or a capital gain of 25-30%.
New buildings for residents of France are also subject to the PINEL tax Law, thanks to which it is possible to return up to 21% of the cost of purchased housing for rent.
According to Meilleurs Agents, the rate for renting an apartment on the Côte d’Azur is 18.5 euros per square metre in Nice, 17.4 euros per square metre in Cannes, 15.8 euros per square metre in Saint-Jean-Cap-Ferrat and 15.4 euros per square metre in Saint-Tropez. With a conservative forecast for this market, rental income for homeowners can act as a stable source of passive income, which is also one of the key requirements when preparing documents for relocation under the residence permit program for financially independent persons.
From 239,000 €
Completion in: 2026.III Total of 150 apartments
From 360,000 €
Completion in: 2025.I Total of 124 apartments
From 450,000 €
Completion in: 2026.II Total of 16 apartments
From 289,000 €
Built in 2023 Total of 16 apartments
From 247,000 €
Completion in: 2025.III Total of 21 apartments
From 276,000 €
Completion in: 2025.II Total of 51 apartments
From 258,000 €
Completion in: 2026.III Total of 30 apartments
From 106,000 €
Completion in: 2024.III Total of 800 apartments
French Alps
The territory of France includes 35 thousand square kilometres of the Alps, including their highest peak — Mont Blanc. The French Alpine resorts of Courchevel, Val d’Isere, Chamonix, Megeve and Meribel are among the oldest ski resorts in Europe.
The main investment strategy in the French Alps region is the purchase of resort property for rent. Winter and summer periods are considered high tourist seasons, the last one is gaining more and more popularity over the years due to the popularisation of recreation in rural areas (rural tourism) and the flow of foreign tourists. According to The Guardian research, about 120 million tourists from all over the world visit the Alps every year. In February 2023, the cities of Courchevel and Meribel hosted the World Ski Championships, which further strengthened the interest of international investors in the region’s property.
The high demand has led to the situation that property is sold out within a few weeks (and sometimes days) from the moment they appear on the market.
In 2023, the cost of buying an apartment in the French Alps region is 11,452 euros per square metre in Courchevel, 7825 euros per square metre in Chamonix, which is on average 10.1% more than the previous year. Rental rate in the same period: 11.8 euros per square metre in Courchevel and 13.8 euros per square metre in Chamonix.
1,490,000 €
Total area 111 m² 3 bedrooms
4,000,000 €
Total area 277 m² 6 bedrooms
3,360,000 €
Total area 225 m² 5 bedrooms
3,856,000 €
Total area 167 m² 4 bedrooms
3,856,000 €
Total area 167 m² 4 bedrooms
1,180,000 €
Total area 120 m² 3 bedrooms
5,500,000 €
Total area 409 m² Land area: 814 m²
611,000 €
Total area 67 m² 3 bedrooms
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