2023-11-24 13:41:15
Real estate: the French always dream of being owners
Written by
Jules Stalin
November 24, 2023 – 2 min. reading
It is in a complicated economic context that the latest Harris Interactive study on behalf of Provicis and the Jean-Jaurès Foundation which deals with the French relationship with housing was released this month. The opportunity to draw some lessons in order to demystify popular opinion around a market which is still struggling to stabilize.
Borrowing rates noted on 11/24/2023
An ever-increasing share of the budget
Unsurprisingly, the increase in the cost of a property purchase (cost of credit as well as per square meter) is a major issue for future buyers. And it is without further surprise that we learn in the study what 81% of French people find the portion of their budget dedicated to housing “important”. That is 10 points more than just 4 years ago. To this we can add thata quarter of French people find this part “very important”while they were 1 in 5 in 2021.
Overall, the French believe that access to property is more difficult than before. Indeed, 75% of respondents believe that it is more difficult to access property today than 5 years ago, 40% even believe that it is “much more difficult”. With two major causesthe price of the property (89%) and the current level of borrowing rates (86%), figures symptomatic of the complexity of the real estate market.
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Good to know
If the French seem intimidated by the real estate market, we must also take into account the fact that most do not know the different measures that can help them in the process of access to property. Only 31% are aware of the SCI, 30% of the principle of rental-ownership and 14% of the real joint lease.
French people still wanting to be owners
Nevertheless, real estate is not frowned upon by the French. The craze seems even stronger than before. 55% of French people admit to consulting real estate advertisements, i.e. 8% more than the previous year, 31% admit to contacting a seller, i.e. 4 points more than the previous year, and 31% admit to visiting a property, this this time an increase of 6 points compared to last year.
Among French non-owners, 61% still believe they have the goal of becoming one. But at the same time, a smaller margin thinks they will become an owner one day (53%), while 20% believe they will never be able to become one.
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