Barthélémy Philippe // Photo credit: Laure Boyer / Hans Lucas / Hans Lucas via AFP 11:04 a.m., March 7, 2024
Owners are worried about the real estate crisis.
While household wealth has grown by 13% in 15 years, the fall in property prices in recent months has made people fear the end of an era.
But real estate experts are calling on homeowners to keep calm.
446,000 euros: this is the amount of average assets of a French household today, according to the Banque de France.
A figure increasing by almost 13% in 15 years, a sign that the rise in real estate prices has largely contributed to enriching French owners.
Between 2013 and 2022, real estate prices increased by 30%, significantly increasing household wealth.
And the current market downturn therefore logically worries owners.
"For two years, the value of the real estate assets of the French has fallen in proportions which are not considerable, knowing that, as we speak, less than 5% of them are sellers. So it is a virtual depreciation ", judge at the microphone of Europe 1, Henry Buzy-Cazaux, real estate expert.
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Big drops in certain cities
"There is no reason for housing prices in France to fall in the same proportion as their increase over 15 years. Particularly because this increase was caused by renovation work, by the evolution of infrastructure, by the increase in the attractiveness of our large and medium-sized cities", he continues.
In certain cities, the depreciation of French real estate assets is still significant.
In Nantes, the 8% drop in prices last year almost canceled the increases recorded over the previous five years.
A similar observation in Bordeaux, where prices fell by 11%, after an increase of 12% over the same period.
And this decline is expected to continue this year.