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DOSE: Real estate market comes to a standstill in crisis due to social bomb risk

DOSE: Real estate market comes to a standstill in crisis due to social bomb risk

ДОСЬЕ: Рынок недвижимости приходит в тупик в кризисе из-за опасности социальной бомбы

There is growing anxiety about the real estate market at all levels. New residential construction, new property sales, the rental market and mortgage loans have alarm bells burning red, and some fear a "social bomb" if there is not a strong mobilization in favor of housing. The real estate market is still in crisis and deepening as various figures have been published in recent weeks. The Real Estate Federation published on November 17 the figures of its surveillance survey for the third quarter nationwide and the situation is disappointing.

'The national figures show no signs of a favorable change in the real estate market.'''If the situation continues, less than 90,000 apartments will be sold in 2023,' the Federation summarizes.

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"The crisis has gone from being temporary to structural. The number of new residential homes for sale in the third quarter of 2023 fell to 12,039 (48.6%), the worst result since the Survey was created in 2010. The number of new residential homes for sale has halved since the third quarter of 2022 and is down 30.8% YTD. This only confirms the disastrous situation faced by many construction companies who have been forced to abandon the commercial launch of their projects due to private demand.".

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