Mortgage rates have been rising (and fast) for a year already, but it was in the summer of 2022 that the difficulty of access to credit really began to seize up the real estate market. The zero rate loans, dedicated to new owners buying new or old renovated, have they also been affected? The figures for the summer of 2022 have fallen…
-16%. From 19,429 zero rate loans recorded in the 3rd quarter of 2021 to 16,252 PTZ over the summer period (July September) this year. If we must avoid drawing hasty conclusions by analyzing only quarterly statistics, the data published by the Company for the management of financing and the guarantee of social accession to property (SGFGAS) are nonetheless telling.
The SGFGAS publishes in fact each quarter, with a certain delay, the official figures for the zero rate loan, a system supposed to help non-homeowner households become one by allowing them toborrow up to 40% of the amount needed their purchase at the unbeatable rate of 0%. A device also targeting low-income or middle-class households, and this for acquisitions in the new, construction, or renovated old.
Real estate credit: discover the new conditions for granting the PTZ for 2023
During the summer of 2022, when the real estate market began to seize up, held back by the rise in credit rates, by prices at their peak, and by the thresholds of usury blocking certain files for low-income households, the production of interest-free loans also began to decline.
| In 2021 | In 2022 | |
|---|---|---|
| 1st trimester | 10579 | 11915 |
| 2nd trimester | 19909 | 18803 |
| 3rd trimester | 19429 | 16252 |
| 4th trimester | 24868 | – |
Source: Society for the Management of Funding and Social Home Ownership Guarantee (SGFGAS). PTZ new + old.
The reduction is global. Since in detail, the production of PTZ drops in all regions (see below), and for all types of housing or borrowing households. In the summer of 2022, households having thus obtained part of their zero-rate mortgage financing purchased from three quarters in the ninerenovation remaining as usual in the minority (23%).
the average loan amount zero rate last summer was 51232 eurosa globally stable level over one year, and almost half of the households (49%) getting a PTZ have between 26 and 35 years old, a statistic that is still stable and logical for a device targeting first-time buyers, that is to say those who are buying their home for the first time. If the production of PTZ decreases, it is difficult at this stage to identify the main victims, apart from a constant overall decrease therefore affecting all eligible populations.
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Traditionally, it is autumn that the greatest number of PTZs are signed in banks. Verdict in 3 months to find out whether or not 2022 will have been a bad year for the PTZ, as it has been in recent months for mortgages.
The number of PTZs down in all regions
As this map of the regions illustrates, the production of PTZ has really dropped everywhere in France. In Normandy, from 886 loans subsidized by the State in the 3rd quarter of 2021, only 643 PTZ were issued during the 3rd quarter of 2022. In the Paris region, production fell from 2,876 loans in the summer of 2021 to 2,273 during the t 2022.
Source: SGFGAS. MoneyVox calculations.
Access conditions, assembly, maximum amounts… The PTZ 2023 in detail