The French real estate market is undergoing a phase of adjustment where several contradictory signals coexist. Prices for older properties are beginning to recover in certain metropolitan areas, credit rates are rising after months of stabilization, and new regulatory constraints related to the energy performance diagnosis (DPE) are changing the game for rental property owners. Understanding these movements allows for better-calibrated decisions regarding buying, selling, or rental investment.
New DPE calculation in 2026: what changes for electric homes
You may have noticed that an apartment heated by electricity could shift from one class to another from one day to the next, without any renovation work. As of January 1, 2026, this phenomenon is explained by a concrete change: the conversion coefficient for electricity has been revised downward in the DPE calculation method.
In practice, a property rated F with electric heating can now move to class E, or even D, simply due to this update. The change does not affect properties heated by gas or oil, whose coefficients remain the same.
For a buyer, this means that some “thermal sieves” displayed in listings are no longer officially classified as such. Before negotiating a lower price based on a poor DPE, check the date of the diagnosis. A DPE conducted before 2026 may no longer reflect the property’s energy reality.
To keep track of these regulatory developments over the months, Actu Immobilier’s news regularly details the concrete impacts of these changes on transactions.
Mortgage rates: the mid-2026 rise limits borrowing capacity
After a period of relative calm, average mortgage rates have started to rise again. The Crédit Logement/CSA Observatory reports a gradual increase in rates in May, June, and July 2026. The movement remains moderate, but it is enough to reduce borrowing capacity by several thousand euros for the same monthly income.
Let’s take a simple example. A household that could borrow a certain amount at the beginning of the year with a given monthly payment sees this amount decrease by a few percent with the rise in rates. In the case of purchasing an older property, this gap can represent the difference between securing an apartment and having to reconsider the search perimeter.
Why rates are rising now
Banks adjust their rates based on the refinancing costs in the bond markets. When European sovereign rates increase, institutions pass this rise on to mortgage loans, sometimes with a few weeks’ delay.
Waiting for a drop in rates to buy is not always profitable: if market prices start to rise concurrently, the gain on the rate can be offset by the increased cost of the property. It is better to compare the total cost of the loan (interest plus purchase price) rather than just the rate alone.
Thermal sieves and rentals: the timeline affecting rental supply
Since 2025, properties rated G can no longer be offered for rent in mainland France. Classes F and then E follow according to a pre-established timeline. This constraint is no longer prospective; it is already in effect and removes properties from the rental market each year.
Why does this issue also concern buyers? Because a landlord who can no longer rent their G-rated property has two options: renovate or sell. This pressure creates an influx of energy-inefficient properties on the sales market, often offered below market prices to offset the cost of necessary renovations.
Mandatory collective DPE in co-ownership
Since January 1, 2026, collective DPE is required for co-owned buildings constructed before 2013 that have more than fifty lots. This diagnosis applies to the entire building, not to each apartment individually.
For a co-owner, the consequences are direct:
- The property manager must initiate the process and include the collective DPE on the agenda of the general assembly, with costs shared among all lots
- A poor collective result can influence the resale value of each lot, even if the individual apartment has a good energy class
- Energy renovation work at the building level (facade insulation, replacement of the collective boiler) may be voted on following the diagnosis
The collective DPE becomes a criterion to check before any purchase in co-ownership, alongside the minutes of the general assembly or the maintenance log.
Prices of older properties: very different dynamics depending on the regions
Talking about a “national average price” masks local realities that are sometimes opposed. The Notaires de France publish a quarterly analysis of the older real estate market that highlights these discrepancies. In the first quarter of 2026, houses and apartments are not evolving at the same pace across regions.
In certain metropolitan areas where demand remains strong, prices are slightly rising again after the correction of 2023-2024. In rural areas or less pressured medium-sized cities, the decline continues, fueled by a stock of properties struggling to find buyers.
What this implies for a purchasing project
Three reflexes help avoid relying on misleading averages:
- Consult the data from the notary observatory for your specific department, not for the whole of France
- Compare the price per square meter of the targeted property with the transactions actually signed in the same neighborhood over the last six months
- Incorporate the cost of energy renovation work into your total budget, especially for properties rated E or F whose displayed price seems attractive
A property sold for less than the neighborhood average may sometimes hide an unfavorable DPE or high co-ownership charges related to approved work. The price per square meter is no longer sufficient to assess an opportunity: it must be supplemented by the cost of energy compliance and the actual level of credit rates at the time of signing.