The current state of the real estate market in Lorient: trends and practical advice

The Current State of the Real Estate Market in Lorient: Trends and Practical Advice

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In 2023, the real estate market experienced a clear slowdown, a situation described by Morgane Gerbaud, director of the Immo Dubé agency in Lorient. This crisis, marked by a significant drop in real estate transactions, is mainly explained by an imbalance between supply and demand, exacerbated by a rise in post-Covid-19 interest rates. To regain a dynamic market, a readjustment of prices seems inevitable.

Why has the real estate market weakened in 2023?

The real estate market in 2023 has been strongly impacted by several factors. The Covid-19 health crisis initially led to an increase in property prices, due to increased demand in a context of very low interest rates. However, this trend reversed when interest rates began to rise from 1% to 4%. This increase has made access to financing more difficult for buyers, thus creating a gap between the expectations of sellers and the financial capacity of buyers.

The consequences of a blocked market

A blocked real estate market is characterized by supply that does not adequately meet demand. In this context, owners who valued their property during or just after the Covid crisis find themselves in a delicate situation, their expectations in terms of prices no longer being in line with market reality. To restart transactions, it becomes essential that sellers agree to lower their expectations.

What solutions to revitalize the market?

To overcome this crisis, several measures can be considered. On the one hand, a revision of sales prices seems essential to realign supply with current demand. On the other hand, incentive policies could be put in place to facilitate access to credit for buyers, in particular through preferential rates or purchasing assistance for first-time buyers.

It is also crucial to develop new real estate projects adapted to the current needs of families and investors, with an emphasis on sustainability and energy efficiency. These initiatives could help revitalize the market by offering more attractive and financially accessible goods.

Conclusion

The real estate market crisis in 2023 reflects the challenges faced by buyers and sellers in a fluctuating economic environment. An adaptation of prices and a proactive housing policy appear to be essential levers to regain a dynamic and resilient market.

Credits

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The Current State of the Real Estate Market in Lorient: Trends and Practical Advice

Virginie Majaux

“Virginie Mazaux” is a fictional character created by the Yourtopia.fr team, symbolizing a blog and social network enthusiast born in 1992 in Bordeaux. This character, imagined to represent a connected and creative generation, was designed to explore and write about various passions in the digital world. Although "Virginia" is not a real person, articles published under this name reflect the collaborative work of our editorial team, who share a common interest in communication, digital innovation and social trends. “Virginie”, as a creation of Yourtopia.fr, brings a unique and engaging perspective on the latest developments in the field of social media and blogging, illustrating the journey of a fictional blogger from her beginnings to the creation of his own blog and his collaboration with Yourtopia.fr.