Paris is the market that fared best across France during the downturn, albeit with a decline of 22% in real estate transactions in 2023 vs. 2022 and decline of 6% compared to the average over the last 10 years.
Since peaking in 2009, French mortgage interest rates fell gradually until early 2022, hovering just above the almost too good to be true rate of 1.00%. With economic pressure from the war in Ukraine and other global events, central banks started raising interest rates to combat rising inflation.
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