The sharp decline of sales of real estate worry companies and local representatives

According to observers and Angers representatives, the real estate activity is in sharp decline since the beginning of the year. According to local medias, around 900 flats and houses are "for sale" in the city and don't meet buyers. If, traditionnaly, electoral periods are not favourable to the purchase of real estate due to legal conditions which may change between before and after the ballots, this time the political period could not be the only responsible for this lack of interest. 

The economic crisis in Angers and everywhere may explain the situation because it shortens the visibility of people who need confidence in their future to involve themselves in such schemes. But some of the local banks are not eager to grant loans because international laws lead them to be more cautious on the risks they take. 

Some of the Angers political responsibles notice that several real estate promotors have recently decided to postpone the launching ot new building because those will not be sold in short time. If, a few years ago, many private promotors had sold their programs to social housing organizations, such an initiative could not be renewed today because the crisis has dried out the financial reserves. Because the activity in construction is declining, national groups are eager to compete for local projects, depriving the local companies.