In February, building permits started to rise slightly again thanks to collective housing, but construction starts continued to decline, reflecting the persistent new housing crisis.
The new housing market shows a contrasting face. If the number of building permits increases slightly in February, the housing starts continue to slowreflecting the combined effects:
– of the rising costs ;
– Of the high interest rates ;
– And the end of tax incentives.
Building permit: a slight recovery carried by the collective
In February, 33,151 building permits were granted, an increase of 3.3% compared to January, according to the Statistical Data and Studies Service (SDES). This level is close to the average of the last twelve months and is mainly explained by the progression of collective housing (+ 5.3%), while individual housing remains stable at 12,470 units.
Over the period from March 2025 to February 2026, 387,944 housing was authorized for constructiona figure down 5.1% compared to the average of the previous five years, highlighting that the slight rebound in February remains insufficient to sustainably revive the sector.
Housing starts: a persistent slowdown
In February, 27,158 housing projects have been openeddown 1.6% compared to the previous month. Over the last twelve months, 283,007 housing has been startedor 17.7% less than the five-year average.
The ministry recalls that these data are provisional and adjusted each month, the methodology having been revised recently. Beyond the numbers, the new construction market remains weakened by rising construction costshigh interest rates and end of tax schemes like Pinelwhich reduced the appetite of individual investors. New construction is thus going through its third year of crisis, between financial tension and drop in demand.
