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MARKET OVERVIEW

1.1 Presentation and definition of the real estate development market

The real estate development activity consists of design and construction of real estate These are then sold to purchasers who will then either rent them out or use them directly. It must be distinguished from the land development activity that values vacant land. Real estate development therefore includes all the means and actions implemented to acquire land , construct a building and finally have it acquired by a customer

The real estate development market can be segmented between :

  • Goods for the housing (apartment building, detached house...)
  • Goods for sale corporate (offices, restaurants, shops, warehouses, factories, hotels...)
  • Goods for leisure and/or public (gymnasiums, swimming pools, stadiums, hospitals, town halls...)

The french market is growing . The promoters' sales (by volume) are mostly to housing for home ownership or investment . It is, however, dependent on several factors, including the private and public sector demand s, the level of public subsidies s, the loan rate granted or the household financial situation for purchases of private homes. Recently, the warehouse segment which is booming as the demand for office construction shows lower rates.

 

1.2 The global market

The real estate market is, according to MSCI This was mainly driven by the United States (***), Japan, the United Kingdom, Germany, China, France, Hong Kong, and Canada.

Source: ****
According to Stone Paper With New York in first place, ** cities account for **% of the global commercial real estate market. Among the top ...

1.3 The French market growing and dominated by housing sales

According to the FPI (***) the real estate development market in France amounted to à **.* billion euros in **** **.* billion in ****, i.e. an increase of **% growth. And, there's in France about *,*** companies real estate development companies, which employ **,*** people .
The data collected by Eurostat offer a different market size than the IVET market, ...

DEMAND ANALYSIS

2.1 A market dependent on many factors

According to the Echoes s, the main wishes of the purchasers in the residential sector are to live in an individual home, with more space, close to shops, transport, living and working areas, to be able to respect their budget constraints, to acquire energy-efficient housing, and to have access to support ...

2.2 The boom in demand for warehouses

Demand for warehousing is growing strongly It went from less than *,***,*** m² for the last * months of **** to almost *,***,*** m² for the last * months of **** according to Immostat .

Source: ****
This increase in demand for warehouses is mainly linked to the needs generated by e-commerce, which requires ever more storage space. Amazon, ...

2.3 An improvement in the situation of households

Ease of access to housing is very dependent on the economic health of French households . Several indicators that help describe this situation show rather encouraging figures, according to the Federation of Real Estate Developers
First, there is household investment, which continues its slight growth from **** (***)
According to the same source The ...

2.4 Real estate and homeownership for young people

Two recent Harris Interactive studies for the Conseil supérieur du notariat in **** (***) shed light on the situation of home ownership among "millennials". [***]
Investing in real estate, or rather buying a home as a principal residence, is done between ** and ** years old for **% of respondents . And, if the average age of ...

MARKET STRUCTURE

3.1 Number of enterprises and characteristics

In **** there were more than **,*** companies in the real estate development market according to data from Eurostat . Between **** and ****, only *,*** new companies were created in the segment.

Source: ****
As a result, turnover per property development company remained relatively stable between **** and **** at around EUR ***,*** per company.

Source: ****
However, market revenues are ...

3.2 Value chain

The property developer is not isolated, on the contrary the act of property development requires the intervention of numerous actors upstream of the project, during the project, and downstream of it . The main ones are as follows :
The project owner . It is the project sponsor, the one who defines the specifications. ...

3.3 Conduct of a real estate development operation

The criteria for success are rapid commercialization and, above all, the conformity of the final result with the budget forecasts. To achieve this, a real estate development operation follows always the same steps :
Launching the project after considering the opportunities Mastery of the field on which the project will be conducted ...

3.4 Financing of a real estate development operation

Real estate development projects can take time to get off the ground, and the income generated usually arrives fairly late, so it is the need to find funding to carry out these projects. There are four main sources of funding:
Pre-sale of dwellings or buildings for companies makes up about **% of ...

ANALYSIS OF THE OFFER

4.1 Main contracts and services offered

A real estate developer is mainly aimed at individuals, investors, and companies with a real estate project . Generally, the developer offers real estate development services, but also many other services surrounding their core business .
In terms of real estate development, they offer :
Sale in Future State of Completion (***): in this case, ...

4.2 Disparities in housing prices

The average price per m² of housing in France is *,*** € for an apartment and *,*** € for a house . Over the period ****-****, the prices per m² of houses and apartments have experienced a average annual growth of *.*% .

However, there is a very wide disparity in France by region . Indeed, the evolution of ...

4.3 The popularity of smart buildings

The DRIEE Ile de France defines the concept of smart buildings as "the integration of active and passive energy management solutions, aimed at optimising consumption, but also at promoting the comfort and safety of users while complying with current regulations" These buildings must, for example, improve and absorb peak consumption situations ...

4.4 A dynamic market that benefits from innovations

According to the Crédit Foncier/CSA barometer, real estate professionals less optimistic in **** than they were in **** . Indeed, the optimism rate for all professions combined rose from **% in **** to **% in **** and then fell back to **% in ****. Only the rate of optimism among developers and property developers resisted a sharp decline. ...

REGULATION

5.1 Regulatory framework

The real estate development activity only appeared in France at the end of the ****s, so it was at that time that the legal framework began to be put in place This activity is now closely supervised, particularly for residential real estate, in order to guarantee the safety of their future ...

POSITIONING OF THE PLAYERS

6.1 Segmentation

* France only

  • Bouygues Immobilier
  • Vinci Immobilier
  • Eiffage
  • Nacarat
  • Nexity
  • Altarea Cogedim
  • Icade
  • Kaufman & Broad
  • Groupe Pichet
  • Les Nouveaux Constructeurs
  • AST Groupe
  • Sogeprom
  • BNP Paribas Real Estate
  • Marignan
  • Lazard Group Real Estate

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Analysts

chargé d'études économiques, Xerfi

Hugo Schott

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Associate Consultant

Mathieu Luinaud

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PhD Industrial transformations

Robin Charbonnier

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Analyst

Pierre Doussau

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President Ross Alumni Club France

Arnaud Walter

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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Consultant

Pierrick Cudonnec

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Project Finance Analyst, Consulting

Maelle Vitry

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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EDHEC

Imane Essadiq

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Auditeur

Vincent Defrenet

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Eva-Garance Tison

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Market Research Analyst

Michela Grimaldi

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Azelie Prigent

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Cantiane Gueguen

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Consultant

Jules Decour

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Alexia Vacheron

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Emil Ohlsson

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Anna Oeser

Anna Oeser

Gabriel Salvitti

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