INFO EUROPE 1
We now know the cost of containment for the real estate market. According to information from Europe 1, some 150,000 transactions were lost during this period. A delay impossible to catch up, according to FNAIM, which expects an overall drop in transactions from 25% to 30% over the year.
An unstoppable delay, first of all because March, April and May are the most important months for the sector ... and are also those during which we were confined. Another consequence of the epidemic: clients have become more cautious, and loans have become more difficult to obtain. 4 out of 10 French people abandoned their real estate project after confinement. As a result, demand is falling, especially in the big cities.
Towards lower prices in the coming months
What about prices? It is still early to predict the trend with certainty, but the president of FNAIM, Jean-Marc Torolion, is rather optimistic. "When we look at what happened in the previous crises, when we had a 25% drop in volumes, we had a price drop of 7 to 8% in 2 years," says he he. According to him, the current crisis will not escape the rule. "I think that prices will drop because first-time buyers are less solvent so there will be less demand. Mechanically, this should lead to price stabilization, or even a drop."
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Especially since the trend was already down before the health crisis, especially in rural areas, where we recorded -0.7% over one year. In the major cities outside Paris, prices had stabilized rather: this year they experienced their smallest price increase in 5 years.