Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Central African Republic: Brazzaville ceasefire talks deliver fragile deal

Read more

FOCUS

Sluggish tourist season in Crimea

Read more

ENCORE!

Bartabas : Mixing Christ with Spanish music and dancing horses

Read more

IN THE PAPERS

Shifts in the propaganda war waged between Israelis and Palestinians

Read more

IN THE PAPERS

French MPs face quandary in pro-Palestinian rallies

Read more

THE INTERVIEW

Yezid Sayigh, Senior Associate at the Carnegie Middle East Center in Beirut

Read more

#TECH 24

Mind the Gender Gap : getting more women into the tech sector

Read more

INSIDE THE AMERICAS

Bolivian children: heading to work aged 10

Read more

WEB NEWS

Israel and Hamas battle online over public opinion

Read more

  • Live: France says missing Algerian plane 'probably crashed'

    Read more

  • 51 French nationals aboard missing Algerian plane

    Read more

  • Algerian jet vanishes: 'We should eliminate the missile hypothesis'

    Read more

  • Deadly Israeli strike on UN shelter in Gaza Strip

    Read more

  • Italy’s Nibali cruises to easy victory in 18th stage of Tour de France

    Read more

  • Iraqi parliament elects moderate Kurd as president

    Read more

  • US, European aviation agencies lift travel restrictions to Tel Aviv

    Read more

  • Sudanese Christian woman sentenced to death arrives in Italy

    Read more

  • No end to fighting until Israel ends Gaza blockade, Hamas says

    Read more

  • Two foreign women shot dead in western Afghanistan

    Read more

  • At least 60 killed in attack on prison convoy near Baghdad

    Read more

  • Cycling is ‘winning the war on doping,’ says expert

    Read more

  • Ceasefire agreed for Central African Republic

    Read more

  • Can Jew-kissing-Arab selfie give peace a viral chance?

    Read more

  • Botched Arizona execution takes nearly two hours

    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

COMMENT(S)