House prices in France remain stable according to FNAIM

AFTER several months of decline, French house prices remained stable in July (up 0.4%), according to the latest monthly index of Fnaim, the Federation of Estate Agents in France.

This development, however, doesn't imply that the French property market  is no longer fragile.

Indeed, the average values of sales for transactions signed in July 2009 dropped by 6.4% over the same period in 2008.

Poor economic conditions could also continue to
weigh on the housing market over the next month.

The Federation continues to hold it's position on its original forecast for the whole of 2009, that house prices will drop by between 5 and 10%.

source: FNAIM