Published on Nov 16, 2023 at 5:21 p.m.Updated Nov. 16, 2023 at 5:43 p.m.
2023, “cataclysmic year” for real estate developers. They believed they had already “hit rock bottom” a few months ago, according to the president of their federation, the FPI. Pascal Boulanger believes today that the worst is yet to come. It forecasts sales down by half in 2023 compared to 2022.
“In a situation where we no longer sell anything, we hardly submit any applications for building permits,” he adds. This affects the future and causes “violent concern” within the profession.