Mainstream media offers little
on the stunning collapse of real estate sales in France, notably
Paris and Ile-de-France. Via Google translate, please
Estate November 2012:
figures for the month. Here
are a few translate-unedited snips.
2012 will remain
a very bad year for real estate professionals. In this comprehensive figures on the property
market in November 2012, discover the sharp decline in real estate sales in
Paris and Ile-de-France.
Even in Paris, it
becomes difficult to sell a property
Notaries in Paris / Ile-de-France note that even in their region very attractive it becomes difficult to sell a property . Between June
and August 2012, it has sold
"only" 35,000 existing
homes, or 19% compared to the same
period in 2011.
Through the preliminary contracts, that is to say, the sales agreement signed but the sale is not yet final, notaries noted an accentuation of the decrease
in sales in September 2012. To believe
the figures MeilleursAgents which
figure barometer advanced
compared to the figures of notaries,
there are currently -30
to -40% of sales in Paris and the Ile-de-France.
Borrowing rates are low,
borrowers are scarce
The mortgage rates continue to fall
slightly in November 2012 . That makes 8 months in a row
that interest rates fall. Loans for short periods have the largest declines compared to last month.
On loans granted in October 2012, the average rate is 3.37% and the duration of payments
is 207 months.
Despite these cheap
rates, mortgage demand plunges more now. The Observatory Housing Credit CSA announces -45.8% in October 2012 compared to the same month of the previous year. This accentuates the fall of -30.5%
of mortgages in the first 9 months
Starts of new homes in the third quarter of 2012 recorded their lowest level since 1998
Only 66,932 new dwelling units have been started in the third quarter of 2012. This is
the lowest level seen since the third quarter of 2012. This represents a decrease of 17.3% compared to the same period in 2011.
VAT at 10% instead of
7% for the building in 2014?
The maintenance and renovation of housing more than two years are subject to reduced VAT under certain conditions. After
passage of the VAT rate in the building from 5.5%
to 7% in 2012, the government
expects an increase in
the VAT rate to 10% through.
Hiking the VAT in face of falling
demand is blazing stupidity. Apparently a VAT hike is an expectation rather than a done deal, but given other examples
of stunning stupidity from France, including tax hikes and the Economically
Insane Proposal: "Make Layoffs So Expensive For Companies That It's Not
Worth It" one should expect
no less from French president Francois Hollande.
For more examples of things
about to wreck France, please
Law" Yet Another Warped Policy by Hollande; Government Motors French