01 April, 2012

The Angers real estate sector on the verge of a slowing down

Credit picture : Seri Ouest
According to datas coming from private and social real estate companies working in Angers, the pace of construction of houses and flats has already decreased. After years of continuing boom of activity dedicated to compensate the negative effects of the financial, then economic, crisis of 2007, Angers Loire Métropole and Angers city had implented a boost of the building activity. That was not a bad idea because companies and workers got business and jobs. But now the resources of the public authorities are decreasing and moreover there are already a lot of homes and flats "for sale" in Alm territoriy.

Recently two companies, one public the other private, set the tone. The Soclova, a social housing company in which Angers city holds the capital, decided to decreased up to 50% its construction programs (from 300 houses and flats delivered per year to 150). In the same time, Seri Ouest, noticed that the economic crisis, the bank rates which are going up and the next presidential elections are reasons for the purchasers to postpone their projects. 

Credit picture Soclova
The converging analysis of these tow companies could indicate that the real estate activity in Angers is on the verge of a slowing down. It will be important that industry, trade and services economic activities take over from the building sector. But this is far from sure. What will be the result of the presidential elections, new elements could emerge after the summer period.

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