Housing market expected to stabilise in France during 2010

Property prices in France are expected to stabilise during 2010, according to the latest statistics.

A report by overseas housing network website Property Community shows that the latest housing data for the country highlights that values have fallen in consecutive years.

The figures released by FNAIM, France's real estate agency, show that over the course of 2009 prices fell nationally by 4.9 per cent.

A year ago the organisation was predicting a ten per cent fall in prices, more than double the actual figure.

However, the agency is predicting a more positive year, saying that the market should stabilise and some areas could see a three per cent increase in prices.

FNAIM president Rene Pallinourt cites the availability of cheaper loans and more consumer confidence as being the main drivers behind the market.

However, he warned that although France appears to be recovering well from the economic crisis, many people in the country still remain "downbeat".

International Property Magazine recently placed France at the top of its Quality of Life Index for the fifth year in a row.