2023-09-15 19:39:41
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Published on 09/15/2023 9:39 p.m.
Duration of the video: 2 min FRANCE 2 Article written by France 2 – J. Cholin, J. Messa, S. Lisnyj, M. Le Rue
France Televisions
As the European Union increases its key rates, access to real estate credit becomes more and more complicated. Will this trend continue? We enlighten you.
From the ECB headquarters in Brussels (Belgium), Christine Lagarde announces that the key rate is being raised once more. As a result, borrowing is expected to cost even more. In France, the real estate market is slowing down. A young 31-year-old buyer has just obtained his loan. But to get his credit, he had to settle for a high rate. “The property costs 200,000 euros and the rate is around 4%”, testifies this borrower. For a broker, this is nothing surprising. “We have had a meteoric rise in borrowing rates in a few months. A year and a half ago, a couple who wanted to buy a 6-room house will now lose between 20 and 30 m²”observe Sylvain Richefeu, courtier Capfi.
Contain the rise in rates
In one year, the number of loans granted fell by 41%. Borrowing rates should stabilize at 4.5 or even 5% over 20 years. “Three banking establishments have reopened the production of their real estate loans, so competition will re-establish itself. (…) This competition will also contain the rise in rates”, estimates Maël Barnier, spokesperson for Meilleur Taux. But it is unlikely that these rates will fall once more in the coming months.
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