Published
Video duration:
1 minute
Real estate purchases: an increase in withdrawals
In a context of increasing interest rates, more and more buyers are withdrawing after making an offer to purchase. What is this new phenomenon? – (France 2)
In a context of increasing interest rates, more and more buyers are withdrawing after making an offer to purchase. What is this new phenomenon?
Near Cannes (Alpes-Maritimes)Jérôme’s apartment Gruget had everything to attract potential buyers. A couple had signed a sales agreement, but after the legal deadline of 10 days, the future buyers withdrew via a suspensive loan clause, due to a refusal from their bank. “I had an acquisition project behind me that I had to postpone,” regrets Jérôme Gruget. There are more and more last minute cancellations on the market.
Buyers in a position of strength
In Île-de-France, 5% of buyers give up after signing a promise of sale. This is four times more than in 2022. “One in five who do not follow through on their intention to acquire. Come on, before, it was one in twenty”indicates Sylvain Noualletpresident ofOrpi Paris Rive Droite, which notably calls into question “rising interest rates”. Retractions are even more numerous in new construction. In one year, the withdrawal rate increased from 22% to 50%. Buyers are in a strong position in the market today.