Rising property prices ex
The rising cost of old houses located in France was less exorbitant in the third quarter compared to second quarter 2011. Indeed, the rise in prices came to 1.0% in Q3. In Provence, for example, the rate is 0.6% between July and September, while it was 4.3% between April and June.
In Paris, the house price was to rise with an average of 7975 euros per square meter. After 3 months of decline, it reached an elevation of 1.5%. This is justified by the market for small areas which accounted for more than 6 out of 10 contracts.
The fee for studios and two pieces of the most famous districts, including the first in the 8th acquired a 2.2% increase. However, the supermarkets could earn only 0.5%.
Moreover, the change in the taxation of real estate capital gains will be implemented from 01st February 2012. To avoid being affected by this, many owners then proceed with the sale of their property.
Sales and financial capacity
According to the latest statistics from the Chamber of Notaries of Paris and the Ile-de-France, the amount of existing homes rose 22.5% in Q2. In 2011, the price is 8150 euros m² average. All the 20 districts was more than 6000 / m. The 6th is the first with 11 690 euros / m² and the 19th is the last with 6350 euros / m².
Sales decreased 16% in October 2011 when, in October 2010, there was an 8% increase in sales in September. The barometer Markemetron announced a reduction of 9% and this percentage will be in the 13% by the end of 2011 compared to fourth quarter 2010.
France is also affected by the crisis in the euro area and this of course affects the purchasing power of households. Restrictions as a solution are more informed because it is possible that gradually reaches the area of the construction market. This may possibly arrive for homes old and new.
This will also impact on the tax exemption, capital gains and PTZ. It is possible that adverse effects are generated and increase the risk of reducing the number of buyers.
The stringent conditions for the loan are taken into accountIn general, it is not all applicants who receive the desired amount, their cases are investigated by considering the details. Following the increase in mortgage rates, several competitors for the acquisition of property are forced to deviate from the market |
