The French real estate market is going through a stabilization phase after several years of turbulence. The prices of older properties are no longer falling, sales volumes are returning to a pace close to their historical average, and new tax rules are reshaping the rental investment landscape. However, behind this apparent calm, tensions persist, particularly regarding credit rates and the growing gap between types of properties.
Old apartments and houses: a price divergence to watch
Have you noticed that the displayed prices aren’t changing much? In reality, the average masks a more nuanced phenomenon. The latest data published by the Notaires de France for the first quarter of 2026 shows a year-on-year increase of about 0.6% for old apartments, while houses are slightly declining, around -0.2%.
This polarization is also evident in Île-de-France: Parisian and Île-de-France apartments are regaining some ground, while houses in the outskirts remain under pressure. For a buyer, this changes the game depending on the project.
Specifically, a couple looking for a three-room apartment in the city faces stable prices, or even a slight increase. Those aiming for a house with a garden in the second crown still have room for negotiation. This is not a paradox: demand is concentrated on properties that are most accessible by transport and services, while more distant houses find it harder to attract buyers.
By regularly following Chasseur Immobilier news, one can spot these local micro-trends that escape national averages.
Mortgage rates in 2026: a fragile balance for borrowers
The question of financing remains the crux of the matter. After the sharp rise in rates between 2022 and 2024, the situation has calmed down, but not enough to return to the borrowing conditions of pre-2022.
The economic analyses published in the summer of 2026 describe the recovery as “real but gradual.” Sales timelines are lengthening in many areas, a sign that buyers are taking their time. Second-time buyers (those selling to buy larger) remain particularly constrained: the resale of their current property often does not suffice to offset the additional costs associated with higher rates.
For first-time buyers, borrowing capacity has significantly decreased over the years. A household that could borrow a certain amount in 2021 now obtains a lower amount with the same income. This pushes many candidates to reconsider their geographical scope or to accept a smaller space.
A useful benchmark: the volume of sales in the old market is around 949,000 transactions over twelve months as of the end of May 2026. This is a level considered a “balance pace” by professionals, neither euphoric nor depressed.
Tax reform for rentals: what changes for private landlords
Rental investment is facing a regulatory turning point. The status of private landlords was revised in 2026, with changes that directly affect the profitability of projects.
The main changes to note:
- The LMNP regime (non-professional furnished rental) sees its depreciation rules modified, which reduces the historical tax advantage of furnished rentals for certain investor profiles.
- A new private landlord status aims to revive the rental supply by offering tax incentives to owners who commit to controlled rents or minimum rental durations.
- Obligations related to the DPE (energy performance diagnosis) are tightening: two decrees will come into effect on January 1, 2027, further favoring electricity in the calculation and better identifying the most decarbonized housing.
Why do these changes matter? Because an investor setting up a rental project today must integrate these new rules from the financial simulation stage. A property classified F or G on the DPE, for example, will soon no longer be able to be rented out without energy renovation work.
DPE and thermal sieves: the timeline is clarifying for 2027
The energy performance diagnosis is no longer just an administrative document. It now conditions the very possibility of renting a property.
The summer of 2026 brought expected clarifications. Two decrees will modify the DPE calculation method starting in January 2027. The main change: electricity will be even more favored in the scale, which could push some electrically heated properties into a better energy class without additional work.
For owners of gas or oil-heated properties, the trend is the opposite. Properties with high CO2 emissions will be better identified, which could accelerate their downgrading. A landlord thus has an interest in simulating the impact of these new rules on their property’s score right now.
This evolution of the DPE also creates a market effect. Well-rated properties (A, B, C) sell better and faster. Thermal sieves (F, G) suffer a discount at purchase but can represent an opportunity for those with the necessary renovation budget.
Niche real estate markets: viager and prestige in 2026
Beyond the mainstream market, some niche segments are experiencing a resurgence of interest. Viager, long marginal, is attracting more investors looking for returns uncorrelated with bank rates. Prestige real estate continues to operate according to its own rules, with international demand supporting prices in the most sought-after areas.
These markets remain minority in volume, but they reveal a growing fragmentation of the French real estate market. There is no longer a single real estate market in France, but several, with very different pricing, taxation, and demand logics depending on the targeted segment.
The French real estate market in 2026 is neither a simple increase nor a decrease. It is a market of transitions: interest rate transition, energy transition, tax transition. Each purchase or investment project must be calibrated to the local reality of the targeted property, not to national averages.