construction of new french property plummets

ACCORDING to an article in Le Figaro this week, the construction of new housing has plummeted by 28.2% between April and June while the number of applications for planning permission that were granted fell by 15.5% according to figures from the Ministry of Ecology.

The figures indicate that the outlook is bleak.

In the second quarter of 2008, new build construction fell by 28.2% to 79, 220 units between April and June, and planning was granted to build 115,880 units across France.