Reservations for new housing up in the 2nd quarter, but still down year-on-year

The number of new housing units marketed by real estate developers and reserved by individuals stands at 16.199 in the second quarter of 2024, up 3,3% compared to the previous quarter. This inflection puts an end to eight consecutive quarters of decline.

However, the decrease in reservations for new housing by individuals with developers is confirmed over a year, particularly affecting new construction (14,2%), in a very unfavorable economic context for new construction.

Developers are caught between rising construction costs and difficulties in accessing credit for buyers.

In detail over the quarter, the increase concerns reservations for new constructions (+2,4%) and those for new housing under construction over existing ones (+10,4%), specifies the ministry.

In the second quarter of 2024, 14.394 new new homes were put up for sale by developers, down 4,1% compared to the first quarter, and down 35,7% year-on-year.

In the second quarter of 2024, this decrease in the number of properties offered for sale mainly concerns apartments (-5%), the core business of developers, while more houses were put on the market (+9,9%). .

The stock of new housing available is also decreasing compared to the first quarter of 2024, with 124.229 housing units available (-3,4%), and over the year with a decrease of 5,8% compared to the second quarter of 2023.

The average price per square meter of new apartments stands at 4.749 euros in the second quarter of 2024, a slight decrease compared to the previous quarter (-1%). But “this reduction does not concern the studios”, specifies the ministry.

Illustrative image of the article via Depositphotos.com.