Despite a record property transaction, the Swiss bank UBS alert. Paris is the subject of a housing bubble, real estate is not a magic investment.
The real estate market is breaking all records. Over the last 12 months in France, there are more than one million real estate transactions.
A figure up 7%, according to the latest figures of notaries.
The explanation is simple, the rates are low. Everywhere we are told that it is time to buy and enjoy exceptionally low interest rates.
And then, real estate is ideal investment as life insurance and booklet A no longer report anything.
The chamber of notaries speaks of a "long-term investment and comfort".
It is true that buying your home, we put aside for his retirement and we are at home. We join the useful to the pleasant.
Except that in big cities, prices keep rising and it becomes very expensive to buy.
Exactly, the Swiss Bank UBS has just published a study on the risk of a housing bubble.
What is a bubble? This is when prices deviate dangerously from wages, when they disconnect from the purchasing power of the inhabitants. In Paris, it's obvious.
According to the calculations of "you finance", a typical family with two children who wants to buy a 75 m2 in the capital, without input, must earn 11,000 net euros per month.
And everywhere the blinkers turn red.
In Lyon, in five years, prices have risen by 28%. In Bordeaux, the increase is even more significant (+ 38%).
In both cities, prices have more than tripled in 20 years. Of course, wages did not increase as much as they did not triple. It is a disconnected outbreak of income, an out-of-ground outbreak.
What to do ? Should I buy or not?
On Paris, UBS specialists are clearly warning. If people can no longer buy, the bubble will burst eventually.