Real estate crisis: 150,000 lost construction jobs in France by 2025.

Кризис недвижимости: 150 000 утерянных рабочих мест в строительстве во Франции к 2025 году.

The construction of new buildings is down more than expected (-3.1%), mainly due to housing (-5.1%). The French Construction Federation (FFB), which in the spring had anticipated the destruction of 100,000 jobs by 2025, had already raised the figure to 135,000 in early July.

The construction industry, which has been hit hard by the new construction crisis, is forecasting the destruction of 150,000 jobs by 2025 and a decline in activity in France in 2023, Olivier Salleron, president of the French Construction Federation (FFB), said on Wednesday. 'By 2025, if no action is taken, that is, if we allow the new housing crisis to begin, construction activity will fall by around 8% excluding the impact of prices, amounting to a loss of 14 billion euros. Following the''was foreseen,'" Olivier Salleron emphasized.

In detail

New building construction is down more than expected (-3.1%), mainly due to housing (-5.1%).

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New non-residential building remains essentially stable, while improvement and maintenance, which accounts for more than half of the sector's activity, shows a positive trend (+2%). New residential construction starts are 16.9% lower in the first seven months of 2023 compared to the same period a year ago. This movement, according to the FFB, can "only intensify" as building permits are down nearly 28.3% and detached home sales are down 38.1%.

Firm bankruptcies continue to moderate, 4.6% below the level for the first eight''Äî months of 2019, they increase "by about 39% between the first eight months of 2022 and 2023," warned Olivier Salleron.

The only positives are the return of public contracts (administrative buildings, schools) and the near doubling of the MaPrimeRénov '\' program, the government's flagship program to support energy renovation. To alleviate the crisis, the FFB demands, among other things, a redistribution of PTZs to 40% of the territory and an increase in tariffs.