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Real estate: signs of recovery on the market?
Real estate: signs of recovery on the market?
(Franceinfo)
While mortgage loans have fallen by 36% in one year, the French have a renewed interest in buying real estate. With rates that should soon approach 3%, a recovery is hoped for.
In a real estate agency in Sartrouville (Yvelines), there are finally a few more customers after months of scarcity. “On a typical Saturday in an agency we get around 10-12 visits, but in the last quarter of 2023 it was at least halved”explains a real estate agent. Since spring, the number of loans granted by banks has been increasing steadily.
But the situation is far from being back to normal, with a 36% drop in mortgage loans over one year, despite borrowing rates trending downward. They went from 4.17% in January to 3.7% on average today. A drop that is still insufficient in the eyes of buyers. Especially since property prices have not fallen. According to projections, borrowing rates could approach 3% by the end of the year and could thus revive the property market.
