The latest trends and news in the real estate market not to be missed
The French real estate market is undergoing a transitional phase where contradictory signals are multiplying. Transaction volumes are timidly recovering after the low of 2024, credit rates remain under pressure, and new rules are changing the calculation of the DPE. Understanding these movements requires looking beyond the headlines to observe what is really happening in investment flows, credit structure, and landlords’ decisions.
Real Estate Investment in France: A Rebound to Put into Perspective
The investment volumes for the third quarter of 2026, published by JLL, show a recovery. The picture seems encouraging at first glance. In reality, a few large transactions account for most of the activity, while liquidity remains very degraded in the intermediate segments.
Office spaces in the Île-de-France region illustrate this gap. The IEIF, in its dashboard for the second quarter of 2026, notes a decline in placed demand while invested amounts are increasing due to exceptional transactions. Therefore, the statistical rebound does not reflect a homogeneous recovery: well-located and recent assets find buyers, while the secondary stock accumulates.
Professionals following real estate news on Services Immo observe this gap between the announcements of recovery and the actual situation. The available data does not allow for a conclusion of a sustainable turnaround in the investment market.
Investor Strategies: A Shift Towards Hospitality and Short-Term
Uncertainty is prompting investors to rethink their allocations. L’Agefi reported in early October 2026 that investors are prioritizing quick value creation and hospitality assets, at the expense of long-term holdings in residential or tertiary sectors.
The classic wealth management logic (buy, hold, pass on) is losing ground to more opportunistic approaches with a shorter horizon. Several factors are fueling this trend:
- Inflation and rising financing costs are compressing the net profitability of long-term strategies in residential
- Hospitality generates revenues linked to tourism activity, considered more predictable than tertiary rents in a context of sustainable remote work
- Repositioning operations (transforming obsolete offices, heavy renovations) allow for capturing a capital gain upon resale over cycles of three to five years
Field returns diverge on this point. Some managers view hospitality as a niche market difficult to industrialize, while others see it as the most predictable segment at the moment.
Electricity Coefficient of the DPE: A Technical Adjustment with Concrete Effects
The electricity conversion coefficient is changing from 1.9 to 1.7 in the calculation of the energy performance diagnosis. This recalibration directly affects homes heated by electricity and could lead to the reclassification of certain properties.
Owners already holding a DPE can request an updated certificate without having to redo a complete diagnosis. The timeline for banning the rental of energy-inefficient properties (labels F and G) remains in effect, but the new coefficient could shift some homes from one category to another.
Landlords could thus see their property exit the “energy-inefficient” category without undertaking any work. However, the overall reliability of the DPE as an evaluation tool remains debated. The test conducted by Yanport on over a thousand properties, comparing two generative AI models to a traditional tool, revealed significant discrepancies between estimates. A diagnosis whose result changes depending on the coefficient applied raises questions about the stability of the signal sent to buyers.
Homeownership: The Limits of Support Measures
Legislative discussions have focused on a possible zero-interest loan aimed at facilitating homeownership for young parents. The idea is to lift part of the financial barrier to purchasing a first home for households welcoming a child.
This type of measure fits into a dual logic: supporting birth rates while reviving homeownership in a context where interest rates are hindering first-time buyers. The final contours of such a measure (ceiling, eligibility conditions, relationship with the classic PTZ) are yet to be clarified.
An additional PTZ facilitates the completion of a financing plan but does not resolve either the usury rate constraint or the still high prices in tight areas. Notaries, who publish their analysis of the old market each quarter, have not yet been able to measure the concrete effect of such measures on signatures.
Private Landlords: Between Withdrawal and Caution
Several signals suggest a disengagement movement among landlords. Insufficient profitability, retirement preparation, and wealth transmission are among the most cited motivations.
The profile of the rental investor is evolving. Regulatory constraints (DPE, rent control, tax on real estate deficits) weigh on the attractiveness of rental residential properties. If this withdrawal is confirmed over time, it could increase pressure on rental supply in metropolitan areas.
Landlords who remain positioned are increasingly balancing between mandatory energy renovations and resale. The outcome of this calculation largely depends on the property’s location and its current DPE label.
By the end of 2026, the French real estate market cannot be reduced to a price curve. The concentration of investment in a few transactions, the shift towards hospitality, the technical adjustments of the DPE, and the gradual withdrawal of private landlords paint a more fragmented picture than national averages suggest. Each segment follows its own logic, and the coming quarters will reveal whether these trends strengthen or correct themselves.
