DECRYPTION
Less than two months after confinement, the real estate market is already starting again. Even if the number of sales fell by 30% due to the crisis, the curve is reversed. A study by Century 21 notes a 10% increase in sales promises in June 2020 compared to the same period the previous year. This is particularly the case in Paris, where we are now buying bigger.
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Parisians would buy ten square meters more accommodation on average and while prices continue to climb. In one year, the latter increased by more than 7%. So do Parisians suddenly have the means to afford more space? Not really. They are simply more likely to buy their main residence in the capital, while rental investors are less active.
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Laurent Vimont, director of the Century 21 network, explains this new impetus for Parisian real estate. "I think that containment was the opportunity to mature projects and to move from rental to property with low rates. When you buy for accommodation, in general you buy bigger than to invest," said the specialist.
"The rent control may have scared some investors"
Investors would therefore buy more according to their personal desires, rather than making financial investments or investing in a second home. "On rental investment, the rents framework may have scalded some investors. Those who suffered confinement with a rental accommodation type AirBnB could observe some losses too", decrypts Laurent Vimont who recalls that " is still a bit early to draw firm conclusions. "
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The cost of these additional square meters has repercussions on the debt of Parisians who borrow more and longer since the end of confinement. The average amount of a transaction soared by + 17.2% between the 1st half of 2019 and the 1st half of 2020, reaching, according to the Century 21 study, € 547,022.