According to the Century 21 network, the number of real estate transactions fell by more than 4 % last year. If the prices reached a historic record during the summer, they began to decrease in the second half, and could decline from 5 to 10 % in 2023.
by Véronique Chocron
This time, the word is released. The president of the Century 21 in France, Charles Marinakis, has noted “a reversal of the market” real estate in 2022. Until now, the Superior Council of the Notariat only mentioned “an landing” or a “slowdown in the rise real estate prices “.
First network of agencies in number of transactions, the CENTURY 21 brand published, Tuesday, January 3, an assessment of the 2022 activity, marked by a 4.1 % drop in real estate activity, “consequence of a very assertive slowdown in the house market (- 8.2 %) “, while these had been particularly popular in the wake of the confinements linked to the health crisis.
As for the average price per square meter, it increased by 4 % in France for apartments (4,288 euros per square meter) and 7.1 % for houses (2,619 euros per square meter), on the ‘Together of the year, reaching a historic record. However, a peak was reached in the summer, and the prices “started to decrease in the second half”, underlines Century 21. In Paris, they even fell by 2.4 % in 2022, compared to 2021. The price Middle per square meter thus passed under the symbolic threshold of 10,000 euros, in September, then again in November.
This drop in regime is reflected in the distribution of housing credits. The Banque de France, in a press release published on December 28, 2022, noted in the second half a “relative slowdown”, which “marks a certain normalization of the supply of real estate loans, after the exceptional growth trained in recent years by the level very low interest rates “.
A closed parenthesis. Consulting rates to individuals have more than doubled in one year, going from 1.06 % in November 2021 to 2.25 % in November 2022, according to the CSS Crédit Observatory. Establishments have the tightening of the monetary policy of the European Central Bank (ECB), through an increase in its key rate in order to combat inflation.
This rise in interest rates, combined with the strong push of inflation, to work since the beginning of 2022, and reinforced by the war in Ukraine, limited the debt margins of households and explains In large part, the current shortness of prices.
Lighting sales times
In Paris, this brakes also illustrates by lengthening the sales times for apartments (between the moment when the agency receives the sales mandate and the signing of the compromise), “because the sellers do not accept Not to review their prices down by day, “said a real estate agent. These deadlines are now established at “historically high” levels, at eighty days in 2022 in the capital (against fifty-seven days in 2017 or forty-four days in 2011).
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