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Travel: Real Estate: Despite low rates, it takes more time to reimburse its credit that formerly

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more 111%. The real estate prices have been bonded in France since 2002. So that today, comparable pay, it takes more time to repay a credit even if the rates are historically low . Resuming Best Agents, BFM TV , specifies that in Bordeaux, for example, the price of the square meter for an apartment grew by 323.1% between 2002 and end 2021. Over the same period, it increased 294.7% in Villeurbanne, 143.7% in Caen, 65.7% in Metz and just 16.6% in Mulhouse.

At the same time, the rates of real estate credits have dropped. As they averaged 5.12% in 2002, they were around 1.06% at the end of 2021. But not enough to preserve the purchasing power of the French. Thus, a couple of employees at the SMIC and without personal contribution to buy a property had to borrow 38,400 euros (excluding annexes) on average to acquire an apartment of 60 square meters in Saint-Etienne, in 2002. With a maximum rate of Debt at 33%, he could reimburse his credit in 6.4 years. From now on, Stéphanois's real estate prices are 90% more expensive. To acquire an apartment of 60 square meters, we must now pay some 72,900 euros. An amount that the couple can hope to repay in 7.6 years.

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Homes with modest income penalized

A Montpellier, the same couple will put 22 years to repay its credit for an apartment of 60 square meters. For this surface, the average price is 195.000 euros, against 62,580 euros, 20 years ago. 12 years old would have been enough to repay his home loan. The lengthening of loan durations is worth in many municipalities, like Angers, Bourges, etc. In Lyon, as in Paris or Nice, the explosion of real estate prices penalizes the homes with modest incomes.

to Read Real Estate Credit: 2021, a record year

These homes have more and more trouble becoming owners, reports BFM TV. So that city centers get slowly gently and uniforms. A primo-accessing couple graduated from an engineering school for one, and a business school for the other, indebted up to 33%, can devote 1,532 euros per month to reimbursement of its credit , against 1,427 euros 20 years ago.

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3.5 times longer in Lyon and 10 times more in Nice

of average wage amounts published in the survey of the Grandes Schools Conference. Impossible so, for the couple, buy a 60 m2 in Paris. The average price is 612.180 euros, it would take 41 years to repay its credit, while the High Financial Stability Board limited the maximum duration of a 25-year loan, compared with 17.3 years in 2002 (average price of 196.260 euros) Despite a rate five times higher. In Lyon, the repayment term of a couple out of large schools requires 3.5 times longer than in 2002 and Nice 10 times more.

Article Real Estate: Despite low rates, it takes more time to repay its credit that formerly appeared first on better living your silver .

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