The last market review published by the Fédération Nationale de l'Immobilier (FNAIM), which is the French National Federation of Real Estate Agents, confirmed the general trend with price reductions during the 1st quarter of 2009 but emphasise on the fact there is no risk of a property crash.
The last market review published by the Fédération Nationale de l'Immobilier (FNAIM), which is the French National Federation of Real Estate Agents, confirmed the general trend with price reductions during the 1st quarter of 2009 but emphasise on the fact there is no risk of a property crash.
According to an internal survey carried out by the FNAIM (260 estate agents participated to it), their turnover for the 1st quarter of 2009 is down by an average 30% compared to the 1st quarter of 2008. An article published in the French newspaper "Le Monde" (mentioning the FNAIM market report and a report from the French notaires) indicates that the notaires activity in 2008 decreased by 20% compared to the previous year. The whole resale market decreased by 17%, from 802,000 in 2007 to 667,000 in 2008. New build sales dropped by 37.6% (79,400 in 2008 against 127,300 in 2007).
