Home Prices in France

Sally and I are currently in northern France visiting family. Today we were in the center of the city and went by some real estate ads as well as drove through town. Asking prices are as high and in some cases higher than when we bought a year ago. There are a lot more for sale signs out. There are signs everywhere. The area is massively dropping in home sales following the trend of the rest of Western Europe and the US.

It’s funny; we found a studio for sale in the same building where we have one of ours that is exactly the same size and layout. The asking price was quite reasonable, just 2000 more than we paid. Since we got started with the other 2, now there is no rush. We will be back in 6 months and see how the price of that studio has evolved. We are guessing that only investors and speculators buy studios (I mean, who would buy a studio for their dream home?) so some of them may get anxious to liquidate their investment as the crisis continues on.

We like the idea of buying more flats in the same building. It bundles together management and hassles of community expenses and related issues.