The real estate profits jumped 60% entre1999 and 2009 while the French GDP grew in real terms by 14% and the total mass of profits by 17%, a study revealed Wednesday by the daily Humanity.
According to this study by Pierre Concialdi, an economist at the Institute of Economic and Social Research (IRES) at the request of Right to Housing (DAL) and the Copernicus Foundation, "64.7 billion euros from monetary profits was generated in France in 2010 by renting housing, business premises or through intermediation in the housing market ".
If the real estate profits up 60% had experienced the same trend as the average income in other income (14%), the gain would have been much lower, according to M. Concialdi who believes that real estate has made "33 billion surplus profits" that represent "the cost of real estate speculation and the release of rent borne by households".
Just over half of French (55%) own a property and 11% of them hold real estate reports, of which two thirds are in the hands of the wealthiest 10%, says study from national accounts by INSEE. Among the 10% wealthiest households, 40% hold a real estate report and this rate exceeds 50% for 3% of richest people.
Foncia, the largest group of Admnistration property of the Hexagon, has tripled its sales since the year 2000 (575 million euros in 2010).
"The management of 252000 properties for rent is the most profitable activity of the group and 45% of operating income. With fees calculated as a percentage of rents revised upwards each year, the market for rental management provides some resources, estimated at between 3% and 4% per year, according to some experts' study indicates. |
