(AOF) – Immobilière Dassault’s first quarter rental income increased by 6.7%, to 7.3 million euros, “supported in particular by the favorable effect of revision indices”. The occupancy rate of the property as of March 31, 2024 amounts to 92.93%, compared to 94.06% as of December 31, 2023. “The rental vacancy is mainly due to the building located at 16 rue de la Paix (Paris 2nd), currently under restructuring, delivery of which is planned for the second half of this year”, specifies the real estate group.
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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%.