Posted Jan 18, 2022, 5:00 PMUpdated on Jan 18, 2022 at 6:43 PM
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The economic uncertainties linked to the pandemic have done nothing about it. Real estate credit recorded a record year in 2021. Under the triple sign of historically low rates, production of new loans which reached 273 billion euros and a volume of transactions of 1.2 million concluded.
Can we therefore speak of overheating? The word is, for the moment, avoided but the supervisory authorities are vigilant in the face of this market which has become exuberant. It is reminiscent of the one that preceded the subprime crisis in 2007. The prudential authorities have therefore undertaken to curb mortgage lending by setting a limit on the duration and percentage of indebtedness.
Uncertainty for 2022
Measures that the banks have welcomed freshly, the mortgage being a loss leader for them to win new customers. Establishing a relationship of an average of 8 years allows them to place other products, such as savings. They surfed in this conquest in 2021 on interest rates fallen to 1.14% and the restlessness of the French, in particular in search of houses in the regions. But under the effect of the scarcity of real estate supply and the measures limiting the granting of credit, everything could slow down in 2022.
La Story is a podcast from Les Echos presented by Pierrick Fay. This episode was recorded in January 2022. Editor-in-chief: Clémence Lemaistre. Guests: Gabriel Nédelec (journalist in the Finance department of “Echos”) and Anne-Sophie Vion (journalist in the Heritage department of “Echos”). Directed by: Willy Ganne. Music: Théo Boulenger. Graphic identity: Upian. Photo: saiko3p/Shutterstock. Sounds: Palmashow, Les Inconnus, BFM TV, RTS, Kaamelott, FenrirTV, “Démineurs” (2008), LCI, Europe 1.
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