French Notaries have not seen real estate prices fall in 2007.

Notaries from France provide the most accurate figures, and therefore the most anticipated on the state of the real estate market nationally. Other side of the coin: here are delays in receiving the info. The French Notaries engaged today its latest data for the third quarter 2007, as well as its estimates for the whole of last year. Their analysis, based on the actual figures of the market, provides an opportunity to reframe the projections of other real estate professionals. And the signs of decline, which many potential buyers want to believe, are not necessarily the there.
In Paris, prices have increased by 9% over one year between October 2006 and October 2007, and 5.6% for the whole of France. "The prices are rising everywhere in France, even though it is on an irregular pattern across regions and cities" indicate, notaries. However, the trend of these increases confirms a deceleration of the increase seen over the past two years.
The wait is delayed
But above all, there was no decline in the number of transactions in 2007(...). It should be substantially the same as in 2006, around 800000. The wait seems to be limited. There is no significant trend to the slowdown in sight.
According to notaries, which could curb acquisitions, as higher interest rates, or the concerns of banks with the crisis in the subprime, have had a limited effect. However, the desire to become the owner is rooted more in the spirit of the French.(...)
Similarly, the announcement of the deductibility of loan interest could encourage the purchase. (...)

Source: CAPITAL
dated: 15/01/2008