Real estate: Inflation and credit crunch hamper buyers

Real estate: Inflation and credit crunch hamper buyers

2022 marks the end of the property boom and sales records. Their number should not exceed the one million mark, or even 950,000 transactions, 20% less than it was in 2021, the year that of course made up for the delay in 2020 due to the pandemic. “It is a welcome period of calm, as prices are at such a high level that they are hitting the creditworthiness of most buyers.”Charles Marinakis, President of Century 21 Network (937 agencies), which publishes, Monday, June 27, its report and analysis of the real estate market in the first half of 2022 estimates.

The average house price, whose square meter has increased by 10.4%, is now rising to €290,654, or €60,000 more than it was just four years ago: “It’s huge! It is essential to be able to match a personal contribution of €55,000 against €32,000 in 2021… How do you finance this difference?”asks Mr. Marinakis. The same is true for apartments with a square meter price increase of 7.4%, which cost an average of €240,960, compared to €205,000 in 2018.

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Thus, sales have slowed since March 2022. Crédit Logement, a guarantee organization, recorded in May a 14% decrease in the number of loans granted in the past three months, since it worsened to the 20% measured in June. “The price hike is behind us, Mr Marinakis thought, There is a slowdown underway, more important in apartments than in homes for which the French still have an appetite. »

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In Paris, prices stabilize at a high level. MeilleursAgents analyzes the ads of its partner SeLoger and notes, over one year, a 2% decrease in the price per square meter, to €10,170, and 2.8% for small areas: “We have lost 18.6% of investors in the capitalMr. Marinakis notes, Undoubtedly put off by the rent ban that threatens, in the long run, housing with the lowest energy rates: F labels, by 2025; Gs, by 2028; For the most active (Beyond G, more than 450 kWh per square meter per year)by 1Verse January 2023, which is tomorrow. Not forgetting the commitment, from 1Verse September, to conduct an energy review of each sale”He remembers.

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In Ile-de-France, moves by Parisians joining Petite and especially Grand Couronne are reviving the market and boosting, for example, prices in Seine-et-Marne (a 14% increase for homes, according to Century21). According to MeilleursAgents, in most major cities, inflation remains pivotal: inflation rose 5.3% in Marseille. 4.6% in Nice; 6.5% in Strasbourg; 3.7% in Toulouse and Montpellier. But prices in Lyon, Lille, Bordeaux and Nantes are stabilizing.

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