Real estate crisis: bankruptcies explode among professionals in the sector

Many properties do not find takers, and real estate agencies are therefore in difficulty. More than 500 have gone bankrupt in one year. A 61% increase. The real estate market is in crisis. In Arras (Pas-de-Calais), properties are more difficult to sell. Slow sales as buyers find it more difficult to borrow. Raphaëlle Rossi took more than two years to buy a house. It had to revise its criteria downwards, faced with the increase in interest rates.

The situation should not improve

The lower budget to buy is a headache for buyers and brokers. Banks are more cautious, and applications are more often refused. Guy Martin, mortgage broker, saw his business drop. “Overall, in a year like 2022, we were able to finance around 300 project leaders. This year, we expect to be around 150, 160 files completed”, he says. Bankruptcies of brokers are exploding: +78% in one year. And the situation should not improve, with interest rates expected to reach 4% this summer.