The rise in interest rates has triggered a real estate shock, affecting real estate investment funds. Amundi Immobilier, a fund manager, has announced a price decrease for three of its SCPI (real estate investment trusts): Edissimmo, Rivoli Avenir Patrimoine, and Genepierre, as reported by Lesechos.
Amundi Immobilier conducted an audit on its funds and found a decrease in property valuations of about 10%. The price adjustment was necessary due to the rapid increase in financing rates impacting real estate demand and transaction volumes.
Some SCPI managers are lowering prices to counter the effects of rising interest rates. Meanwhile, other SCPIs, like Remake Live, are revaluing their shares, showcasing a two-speed market with older SCPIs reducing prices, and newer ones taking advantage of lower property prices for acquisitions.