In June, the number of French developers who reported on falling sales increased. Opinions of managers of construction companies in relation to demand has reached the lowest level since 1991, when the National Institute of Statistics and Economic Studies (INSEE) started to collect such data, reports ee24.com citing INSEE.
For the next three months, developers predict a decline in sales of new real estate in France, the growth in the number of unsold properties, as well as falling in prices.
During more than two decades, the balance of positive and negative views on demand was on average -8%, and in June it fell to -53%. Balance of price expectations was 6% and -31% respectively.