2014 French New Construction Hidden Opportunity

According to a new article in Le Monde on January 28th 2014 the French Ministry of Housing published statistics on the French New Property Market.

In the report it is noted:

* During the slow French economy some 332000 homes have been built in France.

* New homes starts in France are down 4.2 percent in 2013 compared to 2012

* In fact, the number of new home starts in the last three months of 2013 compared to 2012 is down 10.4 percent according to the government report.

Olivier Eluère, an economist with the French bank Crédit agricole says these statistics are not a surprise as he has seen a correction in the new home market over the last two years with less sales and an increase in French new construction not sold.

According to Mr.Eluère, this lower demand is a primarily due to the economic situation where there is little growth and employment remains high. This has discouraged investors to buy to rent out.

Prices have also remained high on new developments since developers are not starting as many new programs so the low supply has kept the prices up.

SECRET:  As you may know just like the best investors when no one is buying the timing can in fact be excellent to buy. Some builders, for example, will include a garage or parking space at no extra charge in a purchase of a new apartment depending on the developer and the location of your purchase. In highly popular or populated cities a garage or parking spot  is a valuable benefit item.

To find the best opportunities you can benefit from being in contact with locally based English speaking French real estate agents who can contact you once they see these new property special pricing opportunities since typically these special opportunities are only short term.

Free of charge to you, contact us and we do our best to help you find an English speaking French real estate agent in your area of choice. Contact us to assist you. 

Read the original article in French here