Europe 1 7:00 p.m., January 10, 2023
An internal survey by the real estate network l'Adresse reveals - in partnership with Europe 1 - an assessment of the real estate market in 2022 after a survey carried out among its 345 agencies.
As a result, credit conditions acted as a real brake on potential buyers, despite falling prices.
What assessment for the real estate market in 2022?
This Tuesday, the real estate network l'Adresse unveils - in partnership with Europe 1 - the report of its work on the question.
An internal survey, carried out among the 345 agencies in the network, has made it possible to highlight certain trends linked to the price of real estate but also to borrowing conditions which tend to evolve in a rather unfavorable way for buyers.
Credits: the Address real estate network
On this specific point, the survey reveals that 46% of the Address branches have suffered a breach of their sales agreement due to loan refusal, often linked to the wear rate.
A figure up by 26 points compared to the summer of 2022. A trend which symbolizes the tightening of credit granting conditions and which seems to be intensifying at the start of 2023. Over the past year, these ruptures of compromises concerned "one transaction out of 10 in many agencies", indicated Brice Cardi, president of the Address network.
Prices are falling... But buyers remain worried
Nevertheless, this decline in the borrowing capacity of buyers induces an increase in the margins for negotiations on the final sale price.
“Overall, our real estate consultants are now seeing negotiation margins of between 3 and 7% depending on the region and the property,” confirms Cyril Parmentier, director of development for the Address network.
What lead to an overall drop in prices?
In any case, this is what 68% of the agencies suggest, which expect an overall drop of 10% in 2023, according to the survey.
30% believe that prices will stagnate and only 2% expect to see prices increase further.
>>
READ ALSO
- "A crossover of real estate projects", why are the big cities seducing again?
Nevertheless, nearly half of buyers (49% of responses) continue to show some concern about property prices in 2023. Fears up sharply (+21 points) compared to last summer but which remain minimal compared to concerns about rising interest rates (81% of responses).
Especially since the trend that is shaping up for 2023 is not likely to reassure future buyers.
At the end of this calendar year, the borrowing rate should exceed the 3% mark.