Are all young people who buy things rich?

I spent some time digging into the figures. And the answer isn't pleasant to hear.

The first observation, and it's surprising: the homeownership rate among those under 30 isn't decreasing. It's even rising slightly. 16,7% in 2021, 17,2% in 2025 according to INSEE. And by the end of 2025, almost one in two mortgages will have been granted to a first-time buyer. A record.

So everything's fine? No. Because these figures are held together by three crutches.

The first is the State. 68% of those benefiting from the zero-interest loan (PTZ) are under 35. Since 2025, this loan can finance up to half of a new-build purchase. Without it, a portion of young buyers disappears from the market.

The second factor is family. Nearly 40% of first-time buyers receive help through a gift or inheritance. This figure was 20% in 2002. Each parent can give up to €100.000 every fifteen years tax-free. This has become the primary way to help children buy a home.

The third factor is income level. INSEE (the French National Institute of Statistics and Economic Studies) clearly states that homeownership is primarily found among the wealthiest young households. In Paris, the average buyer earns €5.000 net per month and contributes €81.000.

In other words: the rate remains stable because wealthy young people and those receiving benefits have replaced young people from modest backgrounds. The overall figures haven't changed. But the profiles behind them have.

The Bank of France sought to identify the primary factor determining whether someone will become a homeowner. It's neither salary, nor education, nor region. It's having grown up in a family that owns property. Wealthy households receive three times more gifts and inheritances than those with modest incomes. Property ownership breeds more property ownership. And its absence is also passed down.

It wasn't always like this. In 1973, among 25-44 year olds, 34% of the poorest households owned their homes. Among the wealthiest of the same age, it was 43%. A nine-point difference. By 2013, the percentage of low-income households had fallen to 16%, while the percentage of wealthiest households had risen to 66%. A fifty-point difference.

Why is salary no longer enough? A 2025 Senate report provides the answer: with the same effort, a household can buy 26% less living space than in 2000. For the same property, a first-time buyer has to take out a loan for 23 years, compared to 15 years in 2000.

I see it every day on the ground. In Paris, without a solid family connection, a good salary is no longer enough. The buyers I advise either have existing assets, a recent gift, or both. The others buy in the outer suburbs, in the provinces, or don't buy at all.

And what's happening will amplify the phenomenon. The large-scale transfer of assets from the baby boomers will concentrate wealth among those who already own it. The Energy Performance Certificate (EPC) will exclude approximately 1 million F-rated properties from the rental market by 2028, and only buyers able to finance the necessary renovations will be able to acquire these discounted properties. The tax on vacant housing passed by Paris this month will bring properties back onto the market, but not for everyone.

So, are all young people who buy property rich? No. But fewer and fewer of them are buying without any financial resources. For fifty years, homeownership was something achievable through hard work. Now it's becoming a status that is passed down through generations.

The real question for the next fifteen years isn't whether prices will rise or fall. It's whether a young person without family wealth will still be able to become a homeowner through their own hard work alone.

Opinion piece by Nicolas Jeff, Real Estate Agent ( LinkedIn ).