After several years of double-digit growth (an annual average of 14% since 2015), 2019 ended with the first drop in the number of home purchases (-3%). But the decline in sales transactions in the residential market (in line with the slowdown in mortgage lending, which grew by only 3% in 2019 compared to an average of 12% since 2014) contrasts with the unstoppable growth trend in the rental market. There will continue to be a need for housing once the health crisis has been overcome, primarily in urban populations with higher population growth forecasts.
Access to housing will depend on the population’s ability to afford the prices.
Access to housing will depend on the population’s ability to afford the prices (whether for sale or rent), which up to now have been subject to the law of supply and demand. The evolution of socio-economic data will determine whether there will be any adjustment in the affordability of prices due to the possible increase in unemployment in the coming months, as well as easier access to credit for buyers.
The government also considers extraordinary measures to meet mortgage or rental payments in cases of economic or social vulnerability.