Open

Coming up

Don't miss

Replay


LATEST SHOWS

FASHION

Paris, Haute Couture Fall/Winter 2014-2015.

Read more

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FRANCE IN FOCUS

Politics: parties under pressure

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

  • UN Security Council calls for Israeli-Palestinian ceasefire

    Read more

  • Holland beat hosts Brazil 3-0 to finish third in World Cup

    Read more

  • Afghan presidential candidates agree to full vote audit, Kerry says

    Read more

  • France’s Kadri wins eighth stage at Tour de France

    Read more

  • Legal challenge to French mayor’s ban of Muslim hijab on beach

    Read more

  • Last of the Ramones, Tommy Ramone, dies aged 62

    Read more

  • Video: Outrage in wake of deadly Casablanca buildings collapse

    Read more

  • Iraqi forces ‘executed prisoners in reprisal’ for ISIS killings

    Read more

  • Ukraine promises retaliation after rebel assault

    Read more

  • Putin revives old Cuban flame and eyes Latin American minerals

    Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Cleveland's NBA fans hail 'return of king' LeBron James

    Read more

  • Exclusive: an unlikely victim of the 'War on Terror'

    Read more

  • Magnitude 6.8 quake, small tsunami hit east Japan

    Read more

  • Suspect in Brussels Jewish Museum shooting drops extradition appeal

    Read more

Business

Housing sector picks up in second quarter

©

Text by FRANCE 24 (with wires)

Latest update : 2009-08-25

French government data released this Tuesday shows that the housing sector has started to recover in France, with sales of new homes during the second quarter of 2009 rising by almost 30% from a year earlier.

The French government released figures this Tuesday showing that new house sales have sharply increased in the second quarter of 2009.

 

Data reveal about 28,000 new homes were sold between April and July of this year, a 29.7% increase from the same period in 2008.

 

“This reflects a first step toward rebalancing the market”, state secretary for housing Benoist Apparu told the AFP.

 

A French analyst quoted by Reuters, Alexandre Mirlicourtois, said zero-interest loans and tax breaks had encouraged reluctant investors to explore the housing market.

 

An increase in sales has translated into a slender rise in properties’ market value. According to government data, apartments' average market value per square metre rose from 3,268 euros to 3,369 euros, while a house's average price notched up to 247,400 euros from 234,800 euros.

 

But while the sales data looks encouraging, the government also noted a 30% decrease in new construction permits for the second quarter of the year, compared to the same period in 2008.

 

Indeed, Mirlicourtois advises caution: “It would be an illusion to think that the house market will skyrocket as long as households' trust in a better economic future hasn’t returned. A decrease in interest rates matters precious little when compared with the prospect of losing one’s job”.
 

Date created : 2009-08-25

Comments

COMMENT(S)