How is French property faring?: Key points in latest notaire review

Property prices in France stabilised in the third quarter of 2025, though fluctuations remain as the market makes a measured start to 2026.

The information comes from the central body of the Notaires de France and is the most comprehensive available as it covers all property sales, and focuses on the median sale prices of non-new build property (houses and flats at least five years old which have had a previous owner).

Due to the time it takes to compile the data the rollout is delayed, with the latest information covering the period up to September 30, 2025 compared with the same time period in the previous year.

However, the notaires also use more recent preliminary data up to 2026 to note current trends.

The report showed 945,000 recorded transactions in the 12 months to December 2025, up around 12% year on year after two years of decline, but still 25% below the summer 2021 peak. 

It stated that the recovery reflects normalisation rather than a full rebound. 

Prices stabilised in the third quarter of 2025 and are rising modestly, mainly for flats, with limited and uneven growth expected to continue. Adjustment is occurring through longer selling times and negotiation, rather than sharp price falls.

The full articles are available here for flats and here for houses.

Below, we cover key points from the data.

National price growth moderate but continuous

In mainland France the overall price indices for property recorded a 0.7% annual increase, marking the third quarter in succession of positive year-on-year growth. This marks a slight acceleration from the second quarter (+0.5%) and the first (+0.3%). 

Notably, flats drove this national increase with prices rising by 1.3%, while houses experienced a more modest growth of 0.2%. 

The moderate overall increase suggests that demand is returning across the broader market, albeit at a measured pace, and that flats remain the segment of the market with the strongest momentum. 

The pattern reflects a broad but cautious recovery in transaction prices across regions, supported by ongoing interest from buyers and a stabilising financial environment.

Regional markets mirror national trend with flats

Outside the Île-de-France region, which includes Paris and its surrounding departments, the trajectory of property prices at the third quarter of 2025 aligned closely with the national overall trend. 

The annual price growth here was also 0.7%, matching the figure recorded for mainland France as a whole.

As with the national data, flat prices showed a relatively stronger performance, with an annual increase of 1.3%, compared with 0.5% for houses. 

This underscores the resilience of flat markets beyond the capital region, reflecting potential lifestyle shifts including the demand for smaller, well-situated properties, as well as constraints in sought-after areas.

Île-de-France emerges from extended decline

The market in the capital region recorded a significant shift through the third quarter of 2025 after a protracted period of declining prices. 

On a year-on-year basis, property prices in the region rose by 0.4%, a reversal from prior quarterly annual changes of -0.1% in the second quarter and -0.7% in the first.

The change was mainly driven by flat prices, which increased by 1.3% annually, while house prices continued to decrease (-1.3%).

Within the region, flat prices in Paris rose by 1.9%, in the petite couronne (the three departments bordering Paris: Hauts-de-Seine, Seine-Saint-Denis and Val-de-Marne) by 1.2%, and in the grande couronne (the departments of Seine-et-Marne, Yvelines, Essonne and Val-d'Oise) by 0.2%. 

The return to positive annual growth in the region signals improving market sentiment, especially in higher-density urban areas.

 Forward projections indicate continued moderate gains

Projections based on forward contracts (avant-contrats) to the end of February 2026 suggest that the moderate price growth observed in the third quarter of 2025 is likely to persist into early 2026.

These projections estimate that annual price indices for flats nationwide could increase by around 1.4%, compared with approximately 0.4% for houses, indicating a continuation of the stronger upward trend in flat values, 

Outside of Île-de-France, prospective annual flat prices are forecast to increase at around 1.2%, compared to 0.3% for houses.

In Île-de-France, forward-looking indicators also point to continued flat price growth at around 1.7% regionally and 1.5% in Paris, with house price increases remaining positive but more subdued at around 0.8% throughout. 

Recovery remains fragile and uneven

Recovery is expected to be gradual and uneven across segments and regions.

The report states that despite signs of price stabilisation and modest growth, the overall market recovery in the third quarter of 2025 is cautious and fragile.

Transaction volumes have improved compared with earlier phases of contraction, but remain significantly below peak levels reached in mid-2021, showing that market activity has yet to return to full strength.

The current pace of recovery reflects a prolonged period of normalisation rather than a clear upswing. Buyer behaviour remains shaped by financing conditions, particularly interest rates, while market dynamics – with flats continuing to outperform houses – mean that any improvement remains sensitive to wider economic conditions.

You can see the full set of data from the notaires here

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