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Today to become an owner, it is necessary on average to have a personal contribution of 89,422 euros against 55,519 euros a year ago. This jump is linked to the surge in credit rates, and it is not over, because since July 1, these rates can exceed 5% over 20 years.
A sluggish real estate market, and prices that have fallen by 0.4% these last six months. A first in France since 2015. Behind this slowdown, the rise in borrowing rates, which rose from 1, 06% on average in 2021, at 3.28% last May. A situation that hits hard those who want to buy their first home, like Léa Martin. With her partner, she believed that she could never acquire the house of her dreams.
Real estate prices in France should continue to fall
A real estate project at 470,000 euros, which almost failed. With the rise in interest rates, the couple had to inflate their contribution. Both on permanent contracts, they earn 6,000 euros net per month. Their case seemed solid to them. They have managed to obtain their property, but others must revise their ambitions downwards. In six months, the French have lost on average the equivalent of 5 m2 of surface. Real estate prices should continue to fall throughout France, until -4% next year, according to some forecasts.