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Real estate: more than 500 agencies had to close in 2023
This is one of the concrete consequences of the rise in credit rates: bankruptcies are more and more numerous. More than 500 agencies have closed their doors since the start of the year, because houses and apartments are selling less and less well. – (France 2)
This is one of the concrete consequences of the rise in credit rates: bankruptcies are more and more numerous. More than 500 agencies have closed their doors since the start of the year, because houses and apartments are selling less and less well.
On the outskirts of Poitiers (Vienne), a house has been on sale for almost two months, for 249,000 euros, without finding a buyer. A few years ago, this property would have gone very quickly, according to Killian Doudy-Chapa, real estate transaction advisor at the Guy Hoquet agency: “Buyers have assimilated the problem of rising interest rates, but not sellers, because it happened quite quickly”he explains.
Agencies impacted by rising interest rates
The stalled real estate market is marked by interest rates of 5%, which causes a drop in transactions. In Vienna, they fell by 14.5% compared to 2022. “After 2022, I had lost more than 65% of my turnover”deplores an anonymous real estate agent who had to close the door a few months ago. “The agencies that will get through this and survive are those that do transactions, rentals and have a good management firm”, he believes. In France, more than 500 real estate agencies have gone bankrupt since the start of the year.
