Property news

Housing in France in 8 points

January 9, 2017 · Updated March 24, 2020

The year 2016 was full of promise for those who acquired property. A very good vintage for the property market which recorded nearly 860,000 transactions. We wanted to review this record-breaking year in a slightly broader context.Over several years and across Europe thanks to a Eurostat study for the Crédit Foncier. It must be said that the French are quite well off when it comes to acquiring property. But what are the key points to take away from this study? We have selected them for you with a bonus small infographic that you can share on your favourite social networks.

The French and housing in 8 points

1 The pleasure of being a homeowner
65% of French people are homeowners and the European average is 70% therefore slightly below.

2 House or flat
The French fall right on the European average this time with 69% of them having chosen a house. Great Britain leads the ranking with 85% of houses. Southern Europe is generally more fond of flats.

3 Space is a luxury
The average floor area is 102 m² for 2.3 occupants. This is a little below the Netherlands and Portugal but well above Great Britain with “only” 76 m².

4 The cost of mortgage credit
It has become a bit of a French specialty: 2.1% over 19 years on average for a mortgage. Only the Germans ahead of us with 2% on average but credit rates were very low last year so we have nothing to envy them for nowadays.

5 The mortgage
The French spend much more than the average for their property. They still owe their bank 47,000 Euros which is clearly below the British who are at 85,000 Euros – more than double the European average.

6 The housing budget
Once again the French are champions! Only 18.3% is devoted to housing whereas with our German and Dutch neighbours, it hovers around 30%.

7 Price increases
The increase in new-build prices combined with existing property is very low in Europe. Only 2% over 10 years. In England for example, prices really exploded / +30%. In parallel, the cost of construction in France still increased by 18% over the same 10-year period. This remains well below the European average however. Once again the British are at the top of the ranking with an increase of 41%.

8 Family housing
Given the figures, it is easy to understand why young French people are the youngest to leave the family home – at 24 years old! The European average is 26 years. The Germans, Dutch and English also leave at 24.

Becoming a homeowner in France is really advantageous. If you add to that the French art of living, you will understand why our European neighbours are very fond of second homes here.