The real estate market at a standstill. We can no longer move, no more visits ... People cancel their transactions and bet on the drop in prices, 80% of signatures rejected ... There were 100,000 transactions in the pipes the day the confinement started: what is it today?
At the time of the containment, there were 100,000 transactions in the pipes ... But since then, nothing has been simple. The market has frozen. A decree published last week authorizes electronic signature for notarial acts. But in practice, 80% of signatures are reported. Many buyers wonder if they shouldn't cancel everything, if they shouldn't bet on lower prices. Besides, some want to renegotiate: we are entering a recession and logically, this should translate into a drop in prices per square meter. Another factor of difficulty: the banks work in slow motion, the credit files are lagging behind and certain banks ask for more guarantees because they fear an increase in unemployment.
So, are there still buyers?
Little: the number of transactions fell in three weeks by 80%. Because you have to see that the entire real estate chain is seized. The companies that make the mandatory diagnoses for asbestos or termites, for example, have ceased their activity: impossible to sell without these diagnoses. The agencies do little or no visit. And to make matters worse, the moving companies are no longer working either. Only “non-transferable” moves are authorized, for example when the end of the lease or the accommodation has been sold and the new owner arrives. But we have to manage on our own to move. Good luck !