New home sales in France increased sharply during the second quarter of 2009, according to the latest figures from the French government. Approximately 28,000 new homes were sold from April through June, an increase of 29.7 percent over the same period in 2008.
The rise in sales has been spurred by zero-interest loans and tax breaks offered by the government. State secretary for housing Benoist Apparu told the AFP that “This reflects a first step towards rebalancing the market.”
The uptick in sales has also helped to raise property values. The average price of a house in France was €247,400 for the quarter, compared to €234,800 in the first quarter. The average value per square meter of an apartment rose from €3,268 to €3,369.
In addition to the positive news, the government also noted that there has been a 30 percent decline in new construction permits for the second quarter of 2009 compared to 2008. This may help to reduce oversupply of new homes, but the results are yet to be seen.
Useful Resources
Selling a French property Homesgofast.com can help learn more : Sell French Property
