(AOF) – Rental income for the third quarter of Immobilière Dassault amounted to 6.9 million euros, an increase of 8.8% compared to the third quarter of 2022. Over the entire first 9 months of the he year 2023, the rental income of the real estate group is up 7.9% compared to the same period of 2022, to reach 20.7 million euros. On a like-for-like basis, rental income increased by 8.8% and “is mainly driven by the favorable evolution of the revision indices and the signing of new leases in 2022, the full effect of which will appear in 2023”.
The occupancy rate of the group’s assets stands at 94.06% as of September 30, 2023, compared to 93.72% as of June 30, 2023. “This improvement essentially comes from the rental of all of the space at Passage Jouffroy ( Paris 9th). The rental vacancy is voluntarily maintained on buildings undergoing restructuring, in particular on the building at 16 rue de la Paix (Paris 2nd), likely in the long term to generate an increase in rental income and value,” explained Immobilière. Dassault.
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A demand crisis
According to data from the Federation of Real Estate Developers (FPI), the figures for the third quarter of 2022 continue to be alarming. Sales of new collective housing fell by 12.4% over one year, to 19,006 units. Over the first nine months of 2022, the drop reached 10.2%, to 72,670 units.
Reservations are also plummeting due to the collapse of block sales to social landlords and institutional investors. With interest rates rising, institutional investors are renegotiating or halting operations. First-time buyers are penalized by the rise in rates and the tightening of the Pinel system puts off certain private investors.
Due to the sharp rise in construction costs, the FPI estimates that one in six authorized operations is ultimately not carried out for economic reasons.
Faced with this, prices are still rising: the sales prices of new collective housing increased by 5.9% across France in the third quarter of 2022. Ile-de-France is an exception, with a decrease of 0. 9%.