The fall in reservations for new housing continues in the 1st quarter, accentuating the sharp drop over one year

The number of reservations, which stood at 15.130 housing units, has been falling continuously for seven quarters, in an economic context that is very unfavorable for new construction.

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

The number of homes put up for sale by developers increased this quarter to 15.730 (+7,2%), putting an end to the decline observed over the past six quarters, but marketings fell sharply over one year, to -38%.

As a result, the outstanding amount of new housing available for sale increased by 1,6% over one year to reach 129.250 housing units, a constant increase since the start of 2022.

The drop in reservations is a little more marked for houses (-5,3%) than for apartments (-3,5%), the core business of developers. Over one year, apartment reservations fell by 24,3%.

The average price per square meter of new apartments stood at 4.780 euros in the first quarter, down slightly compared to the previous quarter (-0,9%).

Reservations concern all tense areas and increase by 23,3% in small towns and sparsely populated areas (zone C).

Illustrative image of the article via Depositphotos.com.