French New Home Sales Plunge

Sales of new homes plunged by 22.6 percent in France during the second quarter compared to the same period last year, the housing ministry said Tuesday.

Construction starts rose by 9.1 percent to 80,524 however, and the issue of construction permits climbed by 8.6 percent to 118,747.

Prices continued to rise strongly despite sales slipping to 23,183 units, with the average sales price per square metre in a new apartment rising 7.7 percent while those for private homes climbed 1.8 percent.