Coronavirus: real estate, also facing the crisis

Coronavirus: real estate, also facing the crisis

Among the sectors affected by the crisis, tourism is in the lead but real estate is also hit by this crisis, 3,000 real estate agencies are threatened, sales of real estate are blocked. In all, 100,000 procurement projects are on hold with a deadline that is soon to expire.

Coronavirus: real estate, also facing the crisis

The windows are not lacking in advertisements but in customers. Real estate is a sector that is now at a standstill. In a Parisian agency, no sale has been made for a month. Brice Cardi, the president of the Address network explains : “Today clearly, the market is on hold, at a standstill.” It is also impossible to complete sales already in progress. No appointment possible with the notary, so no more final signatures. A complicated situation.

400 million euros in pending fees

“If there is no signature, there is no fee, if there is no fee, there is no turnover”, he continues. Nearly 100,000 sales projects are pending according to the National Federation of Real Estate (FNAIM). There is an emergency, otherwise 3,000 agencies could disappear with 20,000 jobs at stake. Jean-Marc Torrollion, the president of the FNAIM argues: ”I am fighting to have the deeds signed because there are 400 million euros in fees that could irrigate our businesses. “ As for notaries, less than one office in two is equipped with videoconferencing.