Albane Leprince 16:41 p.m., January 09, 2024

Continuously rising interest rates, too little decline in real estate prices... The market has seized up in 2023! On Monday, Century 21 took stock of the year 2023 in old real estate. As a result, many households have given up on their plans to buy.

Can do (much) better! With interest rates constantly rising and prices not falling enough, the second-hand real estate market has seized up in 2023 according to the report unveiled on Monday by the Century 21 agency network. The number of transactions slowed sharply, 18%, at the national level to below the one million sales mark. Indeed, inflation and the tightening of credit have taken their toll on household budgets and therefore on their real estate projects.

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Between 2015 and 2022, house prices exploded: +34%!

The buyers who fared best in 2023 were retirees. They represent 7% of buyers. And the reason is simple: they often benefit from a significant personal contribution due to the resale of their previous home. If the number of buyers is falling, it is also due to real estate prices which have continued to grow between 2015 and 2022 (+34% for houses, +26.6% for apartments).

It is in the Paris region that the market for second-hand real estate has deteriorated the most, despite the fall in property prices. Since the square meter has lost 5% in one year for houses and 7.8% for apartments. And yet, sales times are getting longer and now reach 90 days! Other regions are particularly impacted by this crisis with sales volumes plummeting... Normandy (-21.6%), Occitanie (-19.1%), Hauts-de-France (-18.7%) and Provence-Alpes-Côte-d'Azur (-18%).

Century 21 sees only one solution to allow the real estate market to recover in 2024: prices!