The number of building permits continues to fall over 12 months

In November 2023, housing authorizations decrease and stand at 30.400 (-1% compared to October).

In total, "from December 2022 to November 2023, 372.500 housing units were authorized for construction, i.e. 127.300 less than during the previous twelve months (-25,5%) and 19,1% less than during the twelve months preceding the health crisis (March 2019 to February 2020)", details the ministry.

The estimated number of construction sites started, which traditionally follows that of permits by a few months, would be "down" with 294.700 construction starts over 12 months, a drop of 19,6%.

The reduction in authorizations concerns all types of housing: pure individual (-31,7%), grouped individual including subdivisions (-25,1%), and collective (-24,8%).

New real estate is experiencing both a sharp drop in buyers' purchasing power and an increase in construction costs.

The rapid rise in interest rates has excluded many buyers from the market, particularly first-time home buyers, whose income is also being eroded by inflation.

On the side of developers and builders, successive global crises (pandemic, war in Ukraine, etc.) have caused the costs of construction materials to soar, and the tightening of environmental regulations on new projects adds further additional costs to operations. .

The developers also point out a reluctance, according to them, on the part of mayors to grant permits, under pressure from administrators who are reluctant to accept new construction.

Illustrative image of the article via Depositphotos.com.