The sponsor returned to balance with a EUR 0

The former real estate market gives signs of awakening and, on that of the nine, prices are threatening to start rising. These trends detected a few weeks ago was confirmed yesterday by Kaufman & Broad presentation of its quarterly results. "We had a meeting with all major marketers to place two weeks ago (Foncia, Century 21, etc.), said yesterday the President and CEO of the promoter, Guy Nafilyan.". It appears that the market of the former unchoked, particularly because the sellers agree to lower their price from 10 to 15.

New, prices fell in January (10 to 15 less this year than in 2007 for Kaufman & Broad, for example), including through the reduction of the price of land (there yet-10 to 15 on average this year) then construction costs. Programs that will emerge from Earth in 2010 should benefit from these price declines. But, today, prices are threatening to start rising, due to the failure of the commercial offer of the promoters, who have frozen year last number of programs. "The offer has never been as low in France,"said Guy Nafilyan." The Housing Ministry gives no figures, but we believe in Kaufman that there should be this year at the national level less than 65,000 homes for sale, for 85,000 reservations. "The tension seems therefore likely in the coming months, even if reservations have not regained their level of 2007 (127), except on the segment of the primo-accession, where Kaufman expects 15,000 reservations. It should be noted that, despite the success of the device tax Scellier, rental segment should remain lower this year, 2007, with 55,000 reservations provided, is less than the Borloo and Robien it two years ago. Similarly, should not exceed 14,000 secondo-homeownership bookings this year, against 47,000 in 2007.

Developers not must reconstruct their commercial offering to meet the demand. "They have little land, note Guy Nafilyan." "Observed since June, tensions on the price of the land, and is a real risk of a rise in the price between September and December."As well as the reform of government aid to the home ownership (greening the Scellier and the deductibility of interest of borrowing), the real estate market nine will depend on the year next secondo-homebuyers demand. However they seem to return to the purchase since the recent improvement in the former, which allows them to sell their property.

Acceleration of reservations

The title of the third quarter (closed end of August), Kaufman bookings increased by 23 in value, and "this acceleration of reservations is accentuated in September," said a news release. The sponsor returned to balance, with a EUR 0.6 million quarterly net result, even if turnover is down 12 from one year to the other, at 243 million. These results are better than expected. Inexplicably, the market seemed to him have anticipated, because he was climbing the action of 23 in the two sessions that preceded publication... Or would be a speculation about a rise in the capital of the principal shareholder, PAI Partners (89) to remove the Group rating Guy Nafilyan recalled that PAI had formally excluded him in several releases. After the announcement of the results, the action has chastened yesterday its outbreak of fever by lowering 7.91 to 20.25 euro.