According to a new report by French bank Crédit Commercial de France (CCF), sales to foreign non-residents fell by 14% last year to 14,256, down from 16,614 in 2022.

The average sale price also fell, from €379,000 to €364,000.

Not unexpectedly, highest average sale prices were in the Ile-de-France (€803,000), where the sale price remained steady. It was followed by Provence-Cote-d'Azur (€582,000) and Auvergne-Rhône-Alpes (€418,000), which both saw average sale prices drop by around 20%.

The British have been toppled by Belgians as the principal foreign buyers.The latter made 2,780 acquisitions, whilst sales to British buyers totalled 2,341, a fall of 20% over 2022. The average sale value to British buyers also fell by 28% to reach €303,000.

The 3 main regions popular with British buyers are Nouvelle-Aquitaine (39%), Occitanie (15%), and Auvergne-Rhône-Alpes (11%). These proportions remain broadly stable with 2022.

"The number of sales to buyers from Belgium has not increased," explained Audrey Fauvetter of CCF. "They have taken top spot due to the fall in sales to British buyers."

British buyers were followed by Germans (1,412 sales), Dutch (1,237), Swiss (1,125) and Americans (863).

Sales to Americans remained stable, but the average sale value fell by 12% to reach €572,000, against €653,000 in 2022. Sales rose by 39% in the Occitanie region, reflecting a growing interest in buying beyond Paris. Nevertheless, the Ile-de-France remains the most popular region for US buyers (25% of sales), followed by PACA (23%) and Occitanie (17%).

"There has not been an 'Emily in Paris' effect," states Audrey Fauvetter, despite the huge popularity of the television series in the US. She considers that the stability of sales to Americans is due largely to the catch-up from Covid, as well as the favourable euro-dollar exchange rate.

In terms of Dutch buyers, their number fell by 29% and the sales value by 34%. The average sale price was €239,000. The most popular region was Nouvelle-Aquitaine (23%), followed by Bourgogne Franche-Comté (16 %).