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Real estate purchases: increase in withdrawals
In connection with rising interest rates, more and more buyers are withdrawing after submitting an offer to purchase. What is this new phenomenon? – (France 2)
In connection with rising interest rates, more and more buyers are withdrawing after submitting an offer to purchase. What is this new phenomenon?
Near Cannes (Alpes-Maritimes)Jérôme’s apartment Gruget it had everything to attract potential buyers. The couple signed a purchase agreement, but after the legal deadline of 10 days, the would-be buyers pulled out through a credit freeze clause due to rejection by their bank. “I had an acquisition project that I had to put on hold,” regrets Jérôme Gruget. There are more and more last minute cancellations in the market.
A buyer in a position of strength
In Île-de-France, 5% buyers will waive after signing a promise to sell. This is four times more than in 2022. “One in five who do not follow through on their intent to gain. Come on, it was one in twenty before.”shows Sylvain NoualletpresidentOrpi Paris Rive Droite, which he particularly questions “rising interest rates”. Retractions are even more numerous in new construction. In one year, the download rate increased from 22% to 50%. Buyers have a strong position in the market today.