The Federation of Real Estate Developers (FPI) expressed concern on Wednesday about a really serious situation on the new home market, with sales and reservations having fallen in the first quarter.
The situation is really serious, declared during a press conference the president of the FPI, Pascal Boulanger, continued to go badly and went more and more badly in the figures.
According to data collected by the REIT, which claims to cover around 90% of the market, the number of new homes sold to individuals in the first quarter fell by nearly 15% in one year.
Increasingly rare building permits?
The number of homes put up for sale fell by some 30%, while apartment prices rose by 5.4% in one year.
From memory, since 2012 we have never had such bad figures, assured Pascal Boulanger, explaining this gloom by three phenomena.
First, a huge absence of building permit signatures, the FPI judging the mayors more and more reluctant to issue permits.
Then uncontrollable construction costs, the upheaval in supply chains and then the surge in energy prices following the war in Ukraine having had a strong impact on the construction sector.
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And finally the wear rate from which it is forbidden to grant a bank loan. With the rapid rise in interest rates, more and more home loans are withdrawn because they exceed this rate, which is only updated every three months.
Real estate: the building federation is concerned about a new housing crisis
Pascal Boulanger said he asked the Banque de France and the Minister of the Economy Bruno Le Maire to pass an update every month.