French property owners debt is approximately 85 percent of the household debt according to a new study done by Credit Foncier and le cabinet Asterès.
Nicolas Pécourt of Credit Foncier quoted in French in Le Monde and we translate into English “That since 2004 French real estate owners are increasing their debt about one percent per year”.
These results are part of a large study that looked at the indebtness of Europeans. Four countries, France, Germany, UK and Spain account for two thirds of the mortgages taken out by individuals in Europe.
The study also found that Northern Europe counties like Germany, UK, and Netherlands, have real estate owners more in debt than their southern Neighbors like France, Spain, Portugal and Italy.
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