Recently, the peak of property prices increasing constantly stopped on graphsSome decline from about 3% of the usual amount was recordedBuyers and buyers will receive a discount based on the reduction conditions in each region
Different figures by region
The studies that were conducted in the field of real estate have shown that the purchase price of a property differs by regionThe sector is experiencing increases in some cities while in others it continues to decline
Regions with increased are the Ile-de-France and the Rhone-AlpesFNAIM or National Federation of Real EstateFor the city of Paris, selling prices rose an annual 2.3% to reach almost the € 8,500 per square meter forIt should be noted that this development was seen in the second quarter of this year
Especially in some departments like the Yvelines and Seine-et-Marne that property prices are steadily declining, with respectively -13.7% and -4.1%This is also true for Burgundy that shows a very significant decline in the first quarter to -9.7%You should know that it is mainly the sale of houses is the most affected by this crisis with a drop of up to -4%The sale of apartments are less affected with a reduction of -0.8%
A continuous decrease
Analysts are unable to provide numbers and a specific timeframe for the duration of this crisis that causes a continuous reduction of property pricesThe main causes for this are, according to analysts, the stringent conditions that were charged to the credit application, but also the purchasing power of households continues to decline
Studies have also shown that the market for old houses is experiencing a clear shift in recent yearsHouseholds are more tempted by the acquisition of house renovated as a new homeHowever, even if the sector is experiencing strong growth, analysts come forward to say that the market will suffer next year stabilizationAnd about the year 2013, it will be a slight depression then be marked by a resurgence of strength and have a growth in 2014
Explanation of lower prices
Lower prices in real estate is now a realityHowever, with the increases that have been noticed in recent years, the reduction is not sufficient to address the damage that was causedAnd with the regulations on the taxation of capital gains on transfer operations of a building, owners must revise upward their selling prices
The situation is also characterized by the fact that the rates offered by financial institutions in connection with borrowings are increasingly importantThis is explained by the fact that the financial sector is deteriorating and the players must be careful not to have to put the key in the door
The loans can be contracted is now less importantAs an example, a borrower, in 2010, had the opportunity to make a loan of 172,400 euros if he has to pay a monthly fee of 1000 euros for 20 yearsToday, with the conditions, there can be a loan of 160,800 euros |
