Groupe of Economic Interest, ImmoStat, has been working for over 20 years to enhance transparency and clarity in the commercial real estate market. Recently, it has partnered with other specialists in the residential market, with Ikory being one of the contributors. Today, it releases the figures for residential investment in the third quarter.

“The relative health of managed residential real estate (senior residences, student housing, and coliving) demonstrates investors’ preference for products with immediate returns,” says Stéphane Imowicz, President of Ikory. “Core investors continue to wait for a price landing that allows them to achieve their yield objectives. However, we observe the entry of ‘core+’ operators and funds into the market, capitalizing on the reestablished differential between block and individual unit values.”

At the end of September 2023, the total amount of residential investments in France, as defined by ImmoStat, is €1.9 billion, representing a 59% decrease compared to the end of September 2022. The third quarter of 2023 has seen a 13% decline compared to the third quarter of 2022, reaching €610 million.

Conventional residential assets, including intermediate and intergenerational housing, have totaled €1 billion since the beginning of 2023, marking a 71% decrease compared to the same cumulative period last year. The third quarter of 2023 shows a 50% decrease compared to the third quarter of 2022, reaching €221 million.

Finally, managed residential assets have totaled €813 million since the beginning of 2023, reflecting a 16% decrease compared to the same cumulative period last year. The third quarter of 2023, however, has seen a 47% increase compared to the third quarter of 2022, reaching €389 million.

Download the full report here: [The ImmoStat figures for the third quarter 2023].