In 2023, 35% of French homeowners undertook renovation projects, according to the annual Houzz et la Maison 2024 France study. The research, based on a panel of 2,140 property owners aged 18 and over, reveals a significant increase in renovation spending since 2020. The median expenditure has risen from €15,000 in 2020 to €20,000 this year, marking a 33% increase. However, renovation activity has decreased slightly by 1% compared to the previous year.
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Generation X leads in renovation spending with a median amount of €25,000, while both Generation Y and Baby Boomers spend €20,000. Renovation activity is predominantly driven by Baby Boomers, who account for 65% of projects, followed by Generation X at 30%, which represents a 3% increase from last year. Generation Y, although spending less, has only a €5,000 gap compared to the other generations.
The study highlights that bedrooms are the most frequently renovated spaces, representing 33% of renovations. Bathrooms and kitchens follow, with 30% and 28% of renovations. Despite being renovated less frequently, bathrooms and kitchens are the most expensive, with median costs of €12,700 and €8,400.
Additionally, there has been a 5% increase in the engagement of professionals for renovation work, reaching 86% of homeowners in 2023. This trend extends to specialised service providers, such as plumbers and electricians, who were most frequently hired, at 37% and 31%.
Source: www.univers-habitat.eu