Buying real estate in 2024 means navigating a market that has little in common with that of 2021. Credit rates have risen sharply, transaction volumes have dropped, and prices have adjusted in most major French cities. However, this correction period opens up concrete buying opportunities, provided you understand the mechanisms at play and prepare your file rigorously.
Real Estate Projects 2024: A Transitional Year Not to Misinterpret
You may have noticed that headlines mostly talk about a crisis. The reality is more nuanced. The year 2024 is actually between the end of a downward cycle and the beginning of stabilization. Prices are not collapsing; they are correcting after several years of rapid increases.
This price repositioning creates a gap between sellers and buyers. The former are slow to adjust their expectations. The latter are waiting for a more significant drop. The result: extended selling times, but also wider negotiation margins than in 2021 or 2022.
Those who follow industry news on the real estate section of Buzz du moment have been able to observe this dynamic of gradual market rebalancing. The challenge for a buyer in 2024 is not to look for the “bottom point” (no one knows it in advance), but to take advantage of a context where competition among buyers has significantly decreased.
Mortgage in 2024: What the Rates Change Practically
Credit rates have nearly quadrupled between early 2022 and the end of 2023. In practice, this means that with the same monthly payment, your borrowing capacity has significantly decreased. A household that could borrow a comfortable amount two years ago must now revise its budget downwards or extend the duration of its loan.
How to Adapt Your Financing Strategy
First step: simulate your borrowing capacity even before visiting a property. Too many buyers visit first and then discover that their actual budget is lower than they imagined.
- Check your debt-to-income ratio. The rule of 35% of net income (including insurance) remains the ceiling applied by banks, in accordance with HCSF recommendations.
- Build a solid personal contribution. A contribution of at least 10% of the property’s price significantly improves your chances of obtaining a loan under good conditions.
- Compare bank offers. The difference between institutions can represent several thousand euros over the total duration of the loan.
- Consider a broker. A credit professional knows the acceptance criteria of each bank and can direct your file to the one that best fits your profile.
A well-prepared file partially compensates for the rise in rates. Banks remain lenders, but they are more selective about profiles. Job stability, healthy account management, and absence of recent overdrafts: these elements weigh as much as income levels.
Estimation and Selling Price: Traps to Avoid as a Buyer
In a correcting market, property estimation becomes a central issue. Many properties are still listed at prices that reflect the 2022 market, not that of 2024.
Rely on Local Data, Not National Averages
The French real estate market is not uniform. A national average decline masks very different realities depending on cities and neighborhoods. Lyon and Nantes have experienced more significant price declines than other metropolitan areas. Conversely, some attractive rural areas have held up better.
Analyze the price per square meter in your target municipality, not at the departmental level. Notary databases (DVF) allow you to consult actual transactions, a much more reliable tool than the prices listed on advertising portals.
Negotiate Methodically
The average negotiation margin has increased compared to previous years. To take advantage of this, rely on concrete elements: the energy performance diagnosis (DPE), necessary renovations, comparable transactions in the neighborhood.
A property rated F or G on the DPE (what is called a thermal sieve) justifies a discount, as it implies energy renovation work. Incorporate the estimated cost of renovations into your purchase offer. Sellers of thermal sieves know this: regulatory constraints on renting these properties make the sale more urgent.
Energy Renovation and DPE: A Strategic Criterion
Why does this topic deserve your attention, even if you are buying to live in and not to rent? Because the DPE now conditions the resale value of a property. A home rated A or B appreciates better than an energy-intensive home, and this gap widens year by year.
For a rental investor, the question is even more direct. Properties rated G are gradually being banned from renting. The F ratings will follow. Buying a thermal sieve at a reduced price and renovating it can be a profitable strategy, provided you accurately estimate the cost of renovations before the purchase.
- Have an independent energy audit conducted, separate from the mandatory DPE, to identify priority works and their costs.
- Inquire about available aids (MaPrimeRénov’, zero-interest eco-loan). They can cover a significant part of the renovation budget.
- Check technical feasibility: in co-ownership, certain insulation works require a vote at the general assembly.
The 2024 real estate market rewards informed and methodical buyers. The decrease in volumes has reduced competition, and negotiation margins have widened. Credit conditions remain accessible with a solid file.
Preparing your financing in advance, relying on reliable local data, and integrating the energy dimension into your selection criteria: these three levers make the difference between a project that succeeds and one that stagnates.