The numbers behind the recovery
The French residential market is emerging from two years of correction. According to the Notaires de France, around 945 000 existing-home transactions were recorded in 2025, up 12% year on year. That is still 25% below the peak of summer 2021, but the trend is clear: buyers are coming back.
On prices, stabilisation is confirmed. The average price in France came out at around 2 930 €/m² in early 2025. Based on preliminary contracts at the end of February 2026, the Notaires de France project a rise of around +1,4% for apartments and +0,4% for houses in mainland France. In Île-de-France, the recovery is more pronounced: +1,7% for apartments, +1,5% in Paris.
Mortgage rates are stabilising. According to CAFPI, average rates in early 2025 stood at around 3,16% over 20 years and 3,26% over 25 years. By mid-2025, negotiated rates had fallen to around 2,95% over 20 years. For 2026, the consensus is stabilisation at around 3,1% — enough to give investment projects visibility again.
The DPE reform: 850 000 homes reclassified
On 1 January 2026, the electricity conversion coefficient used in the DPE drops from 2,3 to 1,9. In practical terms, calculated primary energy consumption falls by 17 to 20% for all-electric homes.
The result: around 850 000 homes rated F or G lose their energy-inefficient status without any renovation work. Some gain one or two DPE classes at a stroke. Against a total stock of energy-inefficient homes estimated at between 4,8 and 5,8 million, that is a massive reclassification.
For wealth professionals, the twin effect is immediate. Properties become eligible again for renting and for investment. And investors will need guidance to understand what this reclassification changes for the profitability of their project.
What an investor lead really costs in 2026
The recovery will mechanically drive lead generation back up. But volume alone does not deliver performance. Here is what an investor lead costs today, according to market benchmarks:
- Cold lead (simple form): 20 to 50€, conversion rate 5-10%
- Warm lead (simulator, defined project): 40 to 80€, conversion 15-25%
- Hot lead (pre-qualified, scored): 60 to 130€, conversion 25-35%
- Ultra-qualified lead (confirmed appointment): 150 to 300€, conversion 40-50%
A concrete example: a 15 000€ campaign generates 200 leads, 50 of them genuinely qualified, for 15 signed clients. Gross CPL of 75€, cost per client acquired of around 1 000€. Against a 10-year client value estimated at between 50 000 and 150 000€ in wealth management, the return on investment is considerable — provided the qualification is done properly.
That is exactly where the difference is made. A 100€ lead is profitable as soon as it generates more than 3 000€ in revenue. But a poorly qualified 30€ lead that never converts is money down the drain.
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