'Real estate crisis: Is housing an indicator of wealth?'

'square meter. How can this trend be explained?

After month-by-month observation, it is clear that prices continued to rise during the first four months of the year (between 0.4% and 2.6% depending on the month): the market slowdown really started in May. But the decline in prices is still modest: -0.6% in May and -0.2% in June.

While sales activity continues in the market with commercial real estate supply up 6.1% year-over-year, comparing the first half of 2023 to the end of 2022 shows a rapid recovery in the inventory of properties for sale: +24.3% compared to July-December 2022. This is to some extent due to seasonality, but not only, judging by the monthly development of offers for sale.

Sale flat in Aix-le-Ben 106 215,00 $

France,Aix-le-Ben

1 Bedroom

15 м²

Sale house in Grima 2 474 252,00 $

France,Grima

6 Bedrooms

2 Bathrooms

223 м²

Sale villa in Marsel 6 374 712,00 $

France,Marsel

9 Bedrooms

7 Bathrooms

630 м²

Sale house in Antibes 5 835 684,00 $

France,Antibes

5 Bedrooms

228 м²

Sale flat in Marsel 594 776,00 $

France,Marsel

3 Bedrooms

1 Bathroom

130 м²

Sale flat in Saint-Paul-de-Vence 701 188,00 $

France,Saint-Paul-de-Vence

2 Bedrooms

118 м²

All regions are participating in the increase''trade, but Ile-de-France stands out in particular with its volume up 32.5% compared to the end of 2022.

It's becoming rare for buyers to be able to get a mortgage. Are sellers starting to feel the decline in the number of buyers who can get a loan? This question arises with a slight slowdown in prices. Indeed, the increase in mortgage loan costs over the same period is rapid: average rates in early 2022 were around 1%, and at the end of June 2023 they were approaching 4%, meaning that mortgage loan costs have increased 3.5 times!

This dramatic increase, combined with a maximum loan rate including all costs (the overpayment rate) that is close to the average rate, eliminates the possibility of''especially in some cities,' complains Mael Bernier, communications director of Meilleurtaux.com.