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S&P Sees 15% French Real Estate Price Drop, Figaro Says

April 12 (Bloomberg) -- Standard & Poor’s anticipates a 15 percent decline in French real-estate prices by the end of 2013, Le Figaro reported, citing a report by the credit rating company.

S&P based its estimates on a contraction in lending in France, citing an earlier credit crunch from September 2007 to March 2009 that led to a 10 percent drop in prices, the newspaper said.

To contact the reporter on this story: James Kraus in London at jkraus2@bloomberg.net

To contact the editor responsible for this story: Douglas Lytle at dlytle@bloomberg.net

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