An absolute disaster.
The expression is not too strong to describe the year 2023 for real estate developers.
All the lights are red.
Housing starts of all types fell 22% last year
.
Building permits granted by local authorities followed the same movement, with a plunge of 23.7% over twelve months.
The final figures concerning sales of new housing are not yet known, but Pascal Boulanger, the president of the Federation of Real Estate Developers (FPI), estimates that
“the year 2023 ended with a drop in activity for real estate developers by almost 50% compared to a normal year
.
Sales should be between 85,000 and 90,000 homes.
However, between 2016 and 2019, developers sold on average nearly 165,000 homes per year.
The decline would be much worse without the - rare - support measure decided by the government.
Action Logement (joint organization financed by…
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