French house prices falling, amidst struggling economy
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The French housing market is in trouble again, as the country struggles to bring down its record high unemployment rate and budget deficit.
House prices in Metropolitan France fell by 1.63% in 2012 from a year earlier, the third consecutive quarter of year-on-year declines, according to the National Institute for Statistical and Economic Studies (INSEE). When adjusted for inflation, house prices actually dropped by 3.12% over the same period. House prices dropped by 1.27% (-1.51% inflation-adjusted) in Q4 2012 from the previous quarter.
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