News from the market

Decline in existing housing market not as catastrophic as foreseen

This year, the number of transactions on existing housing should be between 500,000 and 530,000 according to notaries’ statistics. A result well below the 670,000 sales in 2008, already regarded as a warning shot compared to 800,000 transactions per year in the early 2000s. Although disappointing, the year 2009 much less catastrophic than expected. Some prognostic did not exceed 450,000 sales earlier this year.

Source: Digest lefigaro.fr, February-March 2010