Buyers are seeing the light at the end of the tunnel. After seeing their real estate purchasing power fall for two years due to the rise in credit rates, households are finally regaining precious square meters. According to SeLoger and Meilleurs Agents, who presented their market analysis to the press on Tuesday, September 3, the French have regained an average of 4 square meters of real estate purchasing power in September since December 2023. To arrive at this observation, the scientific teams of SeLoger and Meilleurs Agents calculated the surface area that a French person with an average income can afford on September 1, 2024, based on current real estate prices. “The year 2024 sees a positive dynamic emerging with this increase in real estate purchasing power for French households,” rejoices Thomas Lefebvre, vice-president of Se Loger and Meilleurs Agents. The rebound in demand and the stabilisation of supply that we are seeing, after three years of growth, suggest new prospects in the real estate market.”
This increase in real estate purchasing power, so eagerly awaited by households, is mainly explained by two factors. First, real estate credit rates have fallen by around 0.5 points since the beginning of the year and now reach 3.6% on average for loans spread over 20 years. This drop in interest rates therefore allows households to borrow a larger sum than six months ago, with identical monthly payments. (…)
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