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COVID-19 and Dynamics of Residential Property Markets in France: An Exploration

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  • Sylvain Chareyron
  • Camille Régnier
  • Florent Sari

Abstract

[eng] In this article, we analyse the effects of the COVID-19 crisis on the French residential property markets. It is a question of exploring whether household demand for residential properties has been impacted by this crisis. Based on data on property transactions recorded between 2016 and 2021, we compare the evolution of prices before and after the crisis. The comparison is done between municipalities within urban areas on one hand, between urban areas on the other. Within urban areas, we show that the less dense municipalities that are farthest from the centre are also those where prices have risen the most. This reflects the desire among households for more spacious properties on the outskirts of urban centres. The results of the analysis of the evolution of prices between urban areas suggest, in line with the theory in urban economics, that a change in dynamics has occurred in favour of the least productive agglomerations.

Suggested Citation

  • Sylvain Chareyron & Camille Régnier & Florent Sari, 2022. "COVID-19 and Dynamics of Residential Property Markets in France: An Exploration," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 536-37, pages 75-93.
    • Handle: RePEc:nse:ecosta:ecostat_2022_536_5
    DOI: https://doi.org/10.24187/ecostat.2022.536.2085
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    References listed on IDEAS

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    1. Bergeaud, Antonin & Eyméoud, Jean-Benoît & Garcia, Thomas & Henricot, Dorian, 2023. "Working from home and corporate real estate," Regional Science and Urban Economics, Elsevier, vol. 99(C).
    2. Ahlfeldt, Gabriel M. & Roth, Duncan & Seidel, Tobias, 2018. "The regional effects of Germany’s national minimum wage," Economics Letters, Elsevier, vol. 172(C), pages 127-130.
    3. Gabriel Ahlfeldt & Duncan Roth & Tobias Seidel, 2018. "The Regional Effects of a National Minimum Wage," CESifo Working Paper Series 6924, CESifo.
    4. Ahlfeldt, Gabriel & Roth, Duncan & Seidel, Tobias, 2018. "The regional effects of Germany’s national minimum wage," CEPR Discussion Papers 13005, C.E.P.R. Discussion Papers.
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    1. Bergeaud, Antonin & Eyméoud, Jean-Benoît & Garcia, Thomas & Henricot, Dorian, 2023. "Working from home and corporate real estate," Regional Science and Urban Economics, Elsevier, vol. 99(C).
    2. Sylvain Chareyron, 2024. "The Valuation of Energy Efficiency Labels in the French Housing Market," TEPP Working Paper 2024-05, TEPP.

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    More about this item

    JEL classification:

    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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