New home sales are up nearly 6% year over year, but remain at a very low level.
Reservations (ie sales) of new accommodation by people have slightly increased in the third quarter, but remains at a very low level, according to the statistics of the Ministry of Housing and Urban Renewal published this Tuesday, November 26.
Between July and September, almost 17,500 new accommodation were booked by individuals, i.e. 4.6% more than in the previous quarter. Over a year, bookings are up 5.8%.
What recovery phenomenon also observed by the Federation of Real Estate Developers, it is mainly explained, according to its president Pascal Boulanger, by the desire to be able to take advantage of the Pinel tax loophole for rental investors, before its disappearance on the 31 of December.
The increase in reserves concerns apartments in collective housing (16,500 + 4.7% compared to the previous quarter) and also individual houses (800, + 3.7%).
The stock is reduced
Developers marketed almost 14,000 new or rehabilitated homes between July and September, that is, 6% less than in the second quarter and 30% less than during the third quarter of 2023, which was already slowing down activity. The level of new home sales is the lowest since at least the end of 2018.
The number of houses for sale is gradually decreasing, taking into account this lack of sales: 120,000 houses are offered for sale at the end of the third quarter, that is to say 3.4% less than at end of June and 9.7% less than compared. at the end of September 2023.
The institutions (social owners, companies, large investors) reserved 14,300 houses, a figure down by 3.5% compared to the previous quarter.
The Ministry’s statistics show a greater demand for small spaces than for large apartments. Reservations for housing with more than four rooms are the only ones that decrease slightly between the different types of apartments, and developers are marketing less of these large accommodations.
Geographically, there is an increase in bookings in the densest areas (A and B1), which are in Paris, most of the Île-de-France, the Côte d’Azur and also the border area with Switzerland and large cities with more than 250,000 inhabitants. Bookings are down about 20% in the rest of the country.