The latest figures from prominent French bank ‘La Caisse d’épargne’ show that
Lots more people are utilizing the margins in the rates to buy French real estate.
The bank has seen a jump of 25% on mortgage loan products in January 2015 compared on the same period a year ago.
Very good new for the industry, this confirms the expectations of Credit Foncier who on February 4th anticipated €130 billion of home loans would be distributed in 2015, against €119 billion in 2014, signifying a strong recovery in this area. In total 740,000 transactions are expected this year, against 705,000 in 2014.
The French property website Logic-Immo.com observed triple the moral in a recent study with a significant upsurge in buying intensions.
There are still few buyers though, at 2.5 millions, down from 3 million in 2011 and 2013, according to estimates of Logic-Immo, which occupies 60% of the property sale ads market.
Across a panel of 1300 buyers, 72% called themselves “active” compared to 59% a year earlier. 78% agree that credit rates are attractive less (36%) think it is difficult to get a loan against 50% a year earlier.
Another interesting yardstick is the number of people who are confident in the success of the property-buying project, up to 61% from 56% in 2013.
It not all sunny news though, 60% believe that high prices are bad news, but even this proportion has dropped by ten points compared to 2013.
A trend is also appearing with the type of properties people want to buy. The quality of the real estate is ever more in focus with 52% reluctant to acquire property in need of renovation, fearing that the cost final would end up being over their budget; and 44% refuse to live in the middle of a project, while 40% say they have no time for a renovation whatsoever.