Posted Dec 7 2022 at 4:30 PMUpdated 7 Dec. 2022 at 17:20
According to a study by Crédit Agricole (1), the slowdown in the real estate market should intensify in 2023. For the bank, the slow but steady rise in mortgage rates, the impact of the conflict in Ukraine, the deterioration of the economic situation and the insufficiency of new-build supply would lead to a correction in sales.
For the past two months, the property price indices have been running out of steam and in most major cities, a decline has already begun. After an alignment of planets extremely favorable to real estate assets, the tide has turned. First cloud in the real estate sky: rising interest rates.
