How do you explain the difficulty of finding a property for less than €250,000 in Drôme-Ardèche?
“€250,000 is the budget of the majority of clients. However, while there is a lot of demand, there are few offers. We have a shortage of goods in this segment. And the owners of this type of property for sale have too high expectations. Thus, houses that sold for €250,000 a few years ago are more often listed for €300,000 today. In five years, the value of real estate has increased by 25% in Drôme-Ardèche. It is enormous ! And rising interest rates in 2023 have kept people from buying. »
” Crisis period “
What is the solution ?
“A few years ago, for €250,000, buyers could have much higher expectations. Today, we have to do a lot of work to get sellers to agree to reduce their selling price. But at the moment, they haven’t really gone down yet. In times of crisis, we advise making reasonable purchases. And to postpone the search for the “favorite” purchase until later. Indeed, even now, it is still more financially attractive to be an owner than a tenant. But we must revise our pretensions and the planned areas downwards. »
“Decrease in borrowing rates”
Are there signs of recovery?
“Since the beginning of 2024, we have seen major price negotiations come to fruition. This will be reflected in the figures for 2024. And at the start of the year, we are also seeing a small drop in borrowing rates, of around 0.3%. And banks tend to increase loan terms. These signals give hope for a recovery in the real estate market in Drôme-Ardèche. »
