France real estate services value added
France real estate services value added stood at 94,489 EUR million in Q2 2026, according to INSEE – Institut national de la statistique et des études économiques (BDM). It is one of the indicators in the Quarterly GDP and value added table (Value · Quarterly), with a complete series running from Q1 1949 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Quarterly GDP and value added table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current prices | |||||||||||
| Real estate services | 94,489 | 94,258 | 94,754 | 94,149 | 94,028 | 93,943 | 93,714 | 95,628 | 94,395 | 96,656 | |
| Business Services | 100,113 | 99,616 | 98,964 | 97,515 | 96,160 | 95,847 | 95,202 | 95,398 | 94,751 | 93,749 |
Understanding france real estate services value added
Housing and commercial property leasing activities generate the physical output volume tracked within this real estate branch. The calculation totals actual rental receipts paid by tenants alongside imputed rents calculated for owner-occupied dwellings, minus intermediate maintenance and operating expenses. It differs from construction by measuring the ongoing utilization of existing built structures rather than the initial act of building them.
Because imputed rent for owner-occupiers makes up a substantial portion of the total, this series exhibits remarkable stability compared to cyclical business sectors. Seasonal variations are minimal, meaning quarterly figures change slowly in response to housing stock additions and demographic shifts. Analysts must avoid confusing real estate leasing value added with property sales revenue, as asset transfers of existing buildings are excluded from gross value added.
Frequently asked questions
- What is imputed rent and why is it included in real estate services?
- It is the estimated value homeowners would pay to rent their own homes, included to maintain statistical consistency.
- Does this sector include residential and commercial property construction?
- No, construction is recorded separately; real estate covers property leasing and management.
- Why does real estate value added remain stable across economic cycles?
- The large share of imputed rent for owner-occupied housing changes very slowly over time.