Times are tough for real estate players: rising rates deter individual buyers and cause sales of new homes to fall;
the rise of teleworking is emptying the least well-located offices and weighing on the price of buildings.
Present in both offices and homes, Icade is suffering.
“
The key word is resilience,”
confides to Le Figaro Nicolas Joly, new general director of the group.
Icade, which is celebrating its 70th anniversary this year, has already experienced a certain number of cycles and will be able to get through this one.
»
The turnover of Icade's real estate development activity increased by 3% last year, to 1.3 billion euros, but the market has hardened.
“The rise in rates had a big impact on households
,” insists the manager
.
When interest rates rise to 4%, you lose 35% of individual customers.
»
The group has found other outlets for its lots, by selling them more to institutions (Caisse des Dépôts, Action Logement, etc.)
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