La Tribune: the growth decrease calms the real estate market down

"The housing market calms down" says the daily paper La Tribune which publishes a brief report about the real estate situation. Thus, the last survey on the situation of the FNAIM (National federation of real estate agents) shows a decrease of the market. The number of transactions, new and old accommodations included, increases by only 1.8% over the first six months of the year with an expectation of an increase by 1.5% for the year 2001. If prices keep on increasing (10% in 2000 in France and around 15% in Paris), things tend to slowdown (+7% over the first six months of 2001).According to La Tribune, the Crédit Agricole even mentions a cycle turn for old accommodations. "This market seems to have reached the top of the real estate cycle for the first semester of 2001… The trend is now favourable to buyers again" with a lag of one or two semesters for Paris. There is also a slowdown on the new accommodation market as well as on the market of offices. The real estate market thus starts being hit by the growth slowdown in France.