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The French real estate market continues to experience difficulties

08.12.2023
Homesoverseas.ru editorial office
191

The data from the French real estate market indicators are still not encouraging. Demand has fallen, and prices are also trending down. The period of the buyer, not the seller, has come, analysts say.

"If the trend continues, less than 90,000 housing units will be sold in 2023," FPI predicts."The number of new homes for sale in the 3rd quarter of 2023 decreased to 12,039 (-48.6%): this is The worst quarter since 2010.

The FNAIM data also show that the fourfold increase in interest rates in two years has affected market dynamics.The number of sales of ready-made housing fell to 955,000 in the 12 months to the end of August 2023 (i.e. -17% per year), and prices decreased slightly.

"The drop in sales of finished real estate for the whole of 2023 should be at least 20%, which corresponds to about 885,000."Thus, the number of transactions will fall below the level that existed before Covid-19, and return to the figures of 6 years ago.This will be the largest annual decrease in sales in more than 50 years, FNAIM warns, noting that sales in the new building market have been declining for 18 months and are at their lowest level since 1995.

Source: Ladepeche

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