Falling sales, falling prices: the great breakdown in real estate

“I was always told that my apartment would sell easily. It’s been on sale for five months, and I have almost no visitors,” says Michèle*, alarmed. This retiree, who has been looking to sell a 40 m2 studio with a large balcony in the east of Paris since July, has already lowered her price three times, from 310,000 to 280,000 euros.

And it’s far from over: “The agency is now telling me that I have to drop to 250,000 euros, otherwise I won’t sell. That the time is not good and that we must act quickly because of increasing interest rates. » A disillusionment.

Soaring credit costs and declining purchasing power: the economic cocktail is harmful for real estate. The social and political climate makes things worse. “There have been demonstrations every Saturday for more than a month, with disastrous consequences for agencies and local residents.

All of this contributes to the current bad situation,” confirms Thomas Lefebvre, vice-president of SeLoger. » READ ALSO - “The real estate crisis will be more brutal than that of 2022”: why the government refuses to relax the constraint on obtaining credit The prospect of a Mélenchon-Le Pen duel frightens, with many fearing a worsening of the crisis in the country in the process. The French generally fear an increase in taxes.

The wealthiest in particular, as candidates' proposals are flourishing in this area (reestablishment of an ISF for Mélenchon, Glucksmann, and a tax on financial wealth for Le Pen, etc.).

Machine-translated from French