The real estate market is tanking in Charente Maritimes

Many real estate experts confirm: the market has slowed down considerably. The same can be said for Charente-Maritimes, although the region continues to be attractive. The decline in the volume of transactions is also having a negative impact on the department's finances.

Attendance is falling, transactions are becoming rare, the real estate market in Charente-Maritimes, as in many other regions, is stagnant. We are really seeing a slowdown compared to the euphoric period we have seen in recent years. Chief Marc-Henri Sionno of the interdepartmental Chamber of Notaries of Atlantique-Poitou explains that this phenomenon is observed on a daily basis, saying, "We see that the number of transactions is decreasing. The number of agreements concluded is decreasing. We do see a slowdown compared to the euphoric period we have seen in recent years."

According to professionals, the prices of houses and apartments remain too high. Professionals believe that home prices should be reduced, especially since access to mortgage credit has now become more difficult.

A missed benefit for the department And this real estate drag also has implications for local governments. Since every time a property is sold, transfer taxes are paid in favor of the state, municipalities and especially the department. This means that approximately 50 million euros will be lost in 2023. Sylvie Marcille, President of the Council of the Department of Charente-Maritimes, is worried about this: "This means that in 2023, approximately 50 million euros will be lost. We will have to adjust our budget."

The department funds many different projects such as schools and roads, so savings will have to be made, but not at the expense of investment. This is a real conundrum for the departmental meeting, especially as the outlook for the real estate market next year remains bleak.