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Property Market

French Building Land Prices

Tuesday 03 February 2009

The price of building land in France averaged €51/m2 in 2007, an increase of 16% over 2006.*

The figures come from an annual study of building land prices carried out each year by the statistical service of the French Government. The figures for 2008 will be available at the end of this year.

Cheapest building plots in France were to be found in the Limousin, where they sold for a modest €14/m2, almost half the price of anywhere else in France. The most expensive region in which to buy a building plot was in the Ile de France, with an average price of €191/m2.

The price of building land rose in all regions of France, but most notably in Upper Normandy and Nord-Pas-de-Calais, each recording a rise of 29%. Other regions with similarly spectacular rises were Franche-Comte, where they went up 22%, Brittany 22% and Midi-Pyrenees 20%. Lowest increases were recorded in Corsica, where prices went up by 12%.

The average plot size was 1284m2, purchased for an average price of €65,545. Once again, however, there were significant regional variations, with the largest plots averaging 2066m2 being purchased in the Limousin, for an average price of €28,339. In the Ile de France they averaged 810m2, for an average price of €154,696.

Average Prices for Building Land - 2007
Region Price per m² Size Plot Price
Ile-de-France 191 810 154,696
Champagne-Ardenne 35 1253 43,574
Picardy 47 1119 52,760
Upper-Normandy 40 1424 56,627
Centre 37 1322 49,556
Lower-Normandy 24 1650 40,424
Burgundy 27 1472 39,176
Nord Pas de Calais 58 1112 64,357
Lorraine 41 1147 47,552
Alsace 91 907 82,433
Franche-Comte 33 1290 42,104
Pays de la Loire 51 1014 51,264
Brittany 49 1010 49,805
Poitou Charentes 31 1307 40,488
Aquitaine 35 1711 60,227
Midi Pyrenees 36 1729 62,519
Limousin 14 2066 28,339
Rhone Alpes 80 1165 93,769
Auvergne 27 1480 39,482
Languedoc Roussillon 105 898 94,112
Provence Alpes Cote d'Azur 103 1451 149,588
Corsica 36 1939 69,346
Overseas Territories 71 1379 97,218
Average 51 1284 65,545

Within the regions, prices were cheapest in rural areas, with plots averaging €26m2, although such plots also recorded the highest price increases in the year of 24%. This reflects the growing difficulty of obtaining planning permission in the French countryside, as planners seek to focus development around existing settlements.

Prices were highest in the more urban areas. In those urban areas with a population greater than 200,000 the average price was €122/m2. Paris had the highest prices for a plot, at €328/m2.

The price you paid for a building plot also depended to some extent on just who you were. Whilst the professional classes paid an average of €72/m2 for a plot, farmers paid a modest €19/m2!

As a result of prudent buying by farmers, their land costs were only 21% of total land and construction costs. The average percentage cost of the land in other cases was 33% of total costs.

In our next Newsletter we shall carry a review of construction costs in 2007 for new build properties in France.

*These figures contrast with those published in our Newsletter in March 2008 as the government have changed the basis on which the price movements are calculated, using only land sold in 2007 for the figures in that year, whilst previously they used figures from previous years, for homes constructed in the review year.


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