A significant improvement in purchasing power
The drop in interest rates observed since January 2024 has had a direct and positive impact on the purchasing power of buyers. According to a study by Empruntis, relayed by BFM TV, this improvement represents an increase of 5% in just six months. For households, this means better borrowing capacity, going from 128,000 euros in December 2023 to 134,000 euros for a monthly payment of 800 euros excluding insurance. This drop in rates, which had risen to 4.5%, brought rates down to 3.8% over 20 years in June 2024. Thus, borrowers can benefit from better credit conditions, promoting their purchasing power. real estate.
With competition between banks, borrowers benefit from greater negotiation margins. Banking establishments seek to attract the best profiles by offering discounts on rates. For example, certain files can obtain rates of 3.6% or 3.7% over 25 years, compared to a reference rate of 3.95%. First-time buyers, in particular, can benefit from specific loans ranging from 15,000 to 25,000 euros, at zero interest or lower than the main loan. This dynamic is all the more favorable with the strong comeback of young borrowers: lhe proportion of those under 30 increased from 25% in 2023 to 28% in 2024.
The great uncertainty with the possible change of government
Despite the improvement in purchasing power, the restrictions imposed by the High Financial Stability Council remain a barrier for certain borrowers. The debt rate is limited to 35% and the duration of the loan to 25 years, with exceptions. Empruntis suggests taking into account the remainder of life to relax these conditions, but there is room for maneuver to obtain exemptions.
The approach of early legislative elections creates additional uncertainty in the real estate market. Since the dissolution of the National Assembly on June 9, 2024 by the President of the Republic, the sector has been awaiting electoral results. A new government could adopt different policies regarding housing, thus influencing interest rates and the purchasing power of buyers.
