Let’s admit it’s difficult to find such unanimity around the same table on the same subject: yes, even if it may seem paradoxical, real estate (and consequently the jobs that go with it) is doing well and showing positive results and forecasts.
In any case, that’s what professionals in the sector claimed, each in their own way, during the traditional post-vacation press briefing of the Real Estate Observatory of the Chamber of Commerce and Industry.
Is the crisis behind us, then?
The positive momentum observed in previous months is confirmed.
Figures speak for themselves: in the new housing market, launches for sale have increased by 18% (1st half of 2016/2015) and the number of sales has risen by 22%.
These volumes (nearly 2000 units in the semester) have not been observed since 200-, to say the least!
The resale market is also experiencing a clear resurgence of activity. Indeed, a 17% increase in transactions has been recorded in one year.
Another positive aspect, prices remain relatively stable, a sign that the situation is not fueled by external effects, but that it corresponds to a correct balance between supply and demand.
“But even if the momentum is here and it is undeniable, we must not overlook the fundamental problems,” says Jean-Marie Ebel, developer and president of the Observatory.
“The market benefits from particularly attractive interest rates (between 1.5 and 2% over 20 years) and significant financial and fiscal arrangements (Pinel Law, zero-interest loan for first-time buyers) even though macroeconomic fundamentals (growth, employment, demographic evolution, etc.) are not at their best.”
Moreover, the presidential election raises fears, with each candidate coming up with their magical formulas, of changes to the current government policy, which seems to have found the right path.
We can therefore remember the conclusion of Philippe Gautier, president of the Construction Federation: “Gentlemen politicians, let us work.”
