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Important moments in the history of real estate

Important moments in the history of real estate

The beginnings of real estate go back much further than you think... Long before the first agency opened, the profession of real estate agent or property manager existed all over the world. Indeed, the Egyptian scribes collected rents on behalf of the pharaohs or other landowners.

But more concretely, the first real estate agency was founded in 1818 by John Arthur. Following him, in 1884, the first official newspaper of rentals and sales was created by William Henry Tiffen, John Arthur's associate.

It is during the 2nd Empire that the famous name of Haussmann enters the history. Then named Prefect, under the order of Napoleon III, he was in charge of making Paris cleaner and more enlightened. From this request begins a titanic building site which will bequeath us our notorious Haussmannian buildings which adorn the streets of the capital.

In 1914, with the freezing of rents, a control regime began, which was constantly extended until the Second World War. While the increase in rents did not keep pace with the cost of living, landlords were forced to sacrifice the maintenance of their buildings. As for construction, it was indirectly slowed down.

In 1936, the SNPI, the first French Real Estate Union, was created. It was resolutely oriented towards professionalism, and wanted to be an organization totally devoted to the defense of its members' interests.

In the France of the 60's, the stock exchange, already little practiced, was beginning to be less and less so. But let's remember that all the world's stock exchanges went through a very long cycle of very bad performances starting in 1961.

The next major innovation in terms of financing was legal. Born in the thirties in the 20th century and generalized from the fifties onwards, co-ownership introduced private ownership of one's own apartment and collective ownership of the common areas.

From 1970 onwards, the children of the baby boom left their parents, but there was still a lack of salubrious housing. Large-scale real estate projects were launched, particularly in the mountains and on the coast. This uncontrolled urbanization is damaging the natural environment. The system of aid to the stone is catastrophic for the finances of the State and contributes for thousands of families to be housed in the poorest and most dilapidated districts.

Concerning the future of real estate, we can say that there will be different modifications on the aids, the regulations, the conditions of access to credit, etc. can come to impact the evolution of real estate in 2023.