Published
Update
Video length: 2 min
Real estate: developers are slashing prices for new properties
Real estate: developers are slashing prices for new properties
(France 2)
Real estate prices on the old continent are falling in France: -1.6% in the first quarter of 2024. Developers must review their prices to sell new apartments, and are increasing the number of offers for customers.
Notary fees offered by one developer, 5,000 euros discount per room from another. In a sector in crisis, professionals are increasing their offers to sell their homes. To sell an apartment, Matthieu Boniak, commercial director of Cogedim Paris Métropole, makes an offer to those buying for the first time: no need for a deposit or notary, and interest rates negotiated between 1.5% and 2 %. Its sales fell by 20% in 2023.
In Hauts-de-Seine, 500 housing units will be built within three years. Junaid Muhammad is one of the future buyers. His 40m2 will cost him 200,000 euros, or around 15,000 euros in savings thanks to the discount. Enough to allow him, at 23, to buy a two-room apartment, rather than a studio. Another developer displays discounts per room for all buyers: from 2,500 to 5,000 euros depending on the sector.
Throughout France, the objective is to facilitate financing for customers. Bernard Chanteux, Managing Director of Bouygues Immobilier, explains “assess each person’s situation” to “advise them on their financing arrangement”.
