Realtor Network: Residential real estate appears crisis-proof (P. Benardo)

Presenting at RENT 2023, Agent Mandataire France's network of agents numbers around one hundred real estate intermediaries. For its founder and CEO Philippe Benardo, the residential real estate market continues to distinguish itself as "a robust and constant sector when compared to the challenges faced by other market segments". At Agent Mandataire France, intermediaries have an average of 7 years of real estate experience. - © D.R.

The Agent Mandataire France network made an appearance at RENT 2023 as an exhibitor. What insights did you take from this event? The RENT 2023 exhibition turned 10 years old in 2023 and we were very proud to be among several exhibitors representing the real estate intermediary sector from around 200 networks in France. This year's revitalization''This exhibition, which has become an integral part of the profession, again highlighted its ability to adapt to today's challenges, be it environmental issues related to the energy transition of "thermal wells," financial issues related to the development of new financing models such as real estate leasing, and technological issues related to the integration of artificial intelligence into much of our real estate processes.

What are your predictions for real estate market dynamics in 2024? As you know, the year that has just passed has been marked by rising interest rates, difficulty in accessing credit and falling prices. In this economic crisis, buyers and sellers are looking to get a clearer picture of''of the changes to come. However, the biggest mistake would be to be blinded by an overly pessimistic view of the situation. I believe that the real estate transaction market is structurally an ocean of stability in the midst of waves of uncertainty. Provided you can decipher it and target the most promising areas. In fact, the reality on the ground is very diverse.

What about the dynamics of the residential real estate segment?

What other segments of the real estate market are you thinking about? One thing to keep in mind is that while the real estate transaction market remains stable,''First-time buyers who can't buy are intensifying already tight rental demand. Affordable rentals are rare as many owners are opting for seasonal rentals through platforms such as Airbnb, creating increased competition for long-term rentals. In addition, rental investors face increasing tax pressure, which reduces their profitability. Property tax reforms have prompted some investors to reduce their presence in the rental housing market, creating additional pressure on rental housing. Finally, there is another not insignificant obstacle: "energy trickle-downs". In France, around 5 million dwellings are considered energy inefficient'' (classified as G and F). Unless substantial repairs are undertaken, many owners will have to remove these homes from the rental housing market. This prospect will further exacerbate the shortage of rental supply.