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France Condominiums and Apartments Market Size (2024 - 2029)

The France Condominiums and Apartments Market is experiencing growth, with its market size reflecting a recovery from the impacts of the COVID-19 pandemic. The demand has been influenced by factors such as remote working practices and accommodative monetary policies, which have improved affordability. Despite challenges like economic downturns and halted construction activities during lockdowns, the market has shown resilience, with a notable surge in activity post-lockdown. The housing market remains robust, with significant price increases, although some urban areas like Paris have seen slight declines. The trend of population movement towards rural areas and the improvement in both supply and demand indicators further underscore the dynamic nature of the market.

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Market Size of France Condominiums and Apartments Industry

France Condominiums And Apartments Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.00 %
Market Concentration Medium

Major Players

France Condominiums And Apartments Market Major Players

*Disclaimer: Major Players sorted in no particular order

France Condominiums & Apartments Market Analysis

The size of France Condominiums & Apartments Market is USD 22.1 billion in the current year and is anticipated to register a CAGR of over 5% during the forecast period.

  • The Apartments and Condominiums markets were impacted by the COVID-19 pandemic in several ways. On the one hand, lockdowns and the increased use of remote working practices are expected to increase the demand, and accommodative monetary policies are anticipated to improve its affordability. The economic downturn and increases in unemployment are expected to weigh negatively on demand. Due to lockdowns, most of the construction activity and property transactions came to a halt during the pandemic. In 2021, as soon as the lockdown relaxation took place, the apartment and condominiums market surged.
  • The housing market in France is still strong, with the largest price increases in ten years. According to the National Institute for Statistical and Economic Studies, house prices in Metropolitan France increased by a strong 5.85% over the year to Q2 2021 (4.41% inflation-adjusted), after y-o-y growth of 5.86% in Q1, 6.4% in Q4 2020, 5.21% in Q3 and 5.64% in Q2.
  • House prices in Paris have even slightly decreased, suggesting that some rural residents are moving to the city due to its high cost of living. According to the La Chambre des Notaires de Paris, the average price of existing apartments in the capital city decreased by 0.2% (-1.5% inflation-adjusted) to EUR 10,650 (USD 12,166) per sq. m. over the year leading up to Q2 2021.
  • According to recent research by the University of Paris and King's College London, nearly 50% of Parisians believe that their city is too expensive, and 43% think they could live more comfortably somewhere else. There is no doubt that the epidemic has caused a shift in population toward more rural, greener places.
  • Both supply and demand are now improving. In the first three quarters of 2021, France saw a 25% year-over-year rise in new housing authorizations, reaching 351,066 units, and a 13.7% increase in new housing starts, reaching 296,906 units.
  • According to the General Council for the Environment and Sustainable Development, existing home sales increased by 22.6% year over year in August 2021 to an annualized 1,208,000 units after declining by 4% in 2020. According to Ministère de la Transition Écologie, new home sales increased by 29% year over year to 61,718 units in the first half of 2021 after declining by 22.8% the previous year.

France Condominiums & Apartments Industry Segmentation

A private residence in a building or house divided into several separate dwellings is known as an apartment. A condominium (also known as a "condo") is a large property complex made up of individual units owned separately. Typically, ownership includes a nonexclusive interest in certain "community property" managed by the condominium management. A complete background analysis of the France condominiums and apartments market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The France condominiums and apartments market is segmented by City (Paris, Lyon, Bordeaux, Marseille, and Other Cities). The report offers market size and forecasts for the France condominiums and apartments in value (USD billion) for all the above segments.

By City
Paris
Lyon
Brodeaux
Marseille
Other Cities
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France Condominiums and Apartments Market Size Summary

The France condominiums and apartments market is experiencing a dynamic phase, characterized by a robust recovery following the disruptions caused by the COVID-19 pandemic. The market, valued at approximately USD 22.1 billion, is poised for steady growth, driven by factors such as increased demand for housing due to remote working trends and supportive monetary policies. However, challenges such as economic downturns and rising unemployment have also influenced market dynamics. The pandemic initially halted construction activities and property transactions, but post-lockdown, the market witnessed a significant surge in activity. The housing sector in France remains resilient, with notable price increases, particularly in rural areas, as urban residents seek more affordable living options. The market is marked by a high level of competition, with both global and regional players actively participating in the landscape.

The French housing market has shown a consistent upward trajectory, with significant price increases over the years, although recent trends indicate a slight cooling in urban areas like Paris. The market is characterized by a variety of ownership structures, including co-ownership and leaseholds, which cater to different consumer needs. The absence of restrictions on foreign ownership and the freehold nature of property transactions have further bolstered market activity. Despite the challenges posed by the pandemic, the market is expected to regain normalcy, with major players like Bouygues Batiment Ile De France and Vinci Construction France leading the charge. Recent developments, such as the expansion of Edyn's lifestyle aparthotel brand in Paris and partnerships aimed at urban renewal, underscore the ongoing investment and strategic initiatives shaping the future of the market.

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France Condominiums and Apartments Market Size - Table of Contents

  1. 1. MARKET INSIGHTS & DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Market Drivers

      2. 1.2.2 Market Restraints

      3. 1.2.3 Market Opportunities

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Technological Innovations in the Market

    6. 1.6 Government Regulations and Initiatives in the Industry

    7. 1.7 Insights into Rental Yields in the Segment

    8. 1.8 Insights into the Key Industry Metrics (Supply, Rentals, Prices, Occupancy/Vacancy (%))

    9. 1.9 Insights into Construction Costs

    10. 1.10 Insights into Investment

    11. 1.11 Impact of the COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By City

      1. 2.1.1 Paris

      2. 2.1.2 Lyon

      3. 2.1.3 Brodeaux

      4. 2.1.4 Marseille

      5. 2.1.5 Other Cities

France Condominiums and Apartments Market Size FAQs

The France Condominiums and Apartments Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Bouygues Batiment Ile De France, Vinci Construction France, Entreprise Generale Leon Grosse, Demathieu Bard Construction and GCC are the major companies operating in the France Condominiums and Apartments Market.

France Condominiums and Apartments Report Snapshots

FRANCE CONDOMINIUMS AND APARTMENTS MARKET Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)