NEW-build developers have seen a slump in business as the market feels the effects of the loss of aid towards buying property and boosting energy efficiency.
Business was down 14.5% to just 19,600 sales across France in the first quarter of 2012. New starts on building contracts fell by 22.5% between February and April.
Building permits applications fell just 2%, but it means the market is likely to see just 320,000 new homes built in 2012. This will need a real boost if President Hollande is to match his campaign pledge of 500,000 new homes a year. The boost, however, will not be coming from the Loi Scellier, which gave a tax gain for people buying new property for let. Housing minister Cécile Duflot has confirmed it will be phased out by December 31.
Income Tax in France 2023 (for 2022 income)*
Visa and residency cards for France*
