A brand new document promoting worth per sq. meter is driving actual property in Île-de-France. Paris would not have a monopoly on costly actual property? In 2019, the capital was awarded first place on the true property podium by Boulogne-Billancourt, the place a home offered on the frantic worth of 44,554 euros per sq. meter. A document sale symptomatic of a perpetual rise in market costs which tends to name into query the accessibility of actual property in Île-de-France.
iStock-Michel Hincker
A document sale
In 2019, a 120 sq. meter home offered for 44,554 euros per sq. meter in Boulogne-Billancourt. An distinctive transaction that takes first place on the rostrum at a duplex of 310 sq. meters in Invalides within the seventh arrondissement, which was negotiated at 38,700 euros per sq. meter in 2017. If the sale worth of such a property stays uncommon, it nonetheless suits right into a context of total improve. In response to the figures for the second quarter of 2019 and the value projections calculated by the Chambre des Notaires du Grand Paris, shopping for lodging in intramural Paris and its shut suburbs is turning into increasingly costly. In 2019, the typical Parisian sq. meter was offered at 10,080 euros – a rise of 6.1% over one 12 months.
A withdrawal to the Parisian periphery
A actuality that forces first-time consumers to maneuver additional and additional away from the capital to profit from extra reasonably priced costs. This attraction is mirrored within the worth improve, tangible however extra average than in Paris. Within the 92, 93 and 94, the rise reached four.5% over one 12 months to settle at four,920 € / m² on common in collective residential. Within the outer suburbs, homes have skilled prudent progress, which notaries have calculated at 1.eight% over one 12 months. On the finish of September 2019, a home amounted to € 382,200 on common – € 825,000 in the most well-liked municipalities of Hauts-de-Seine. Paradoxically, this improve doesn’t appear to dampen the previous actual property market. Within the third quarter of 2019 and throughout the area, the variety of gross sales elevated by 9% in comparison with the identical interval in 2018. A rise which is partly defined by the hole between the availability – very uncommon – and really sturdy demand within the sector.
Predictions for 2020
Within the close to future, notaries anticipate a worth improve of 5.9% from January 2020 for residences (7% in Paris, 5.eight% within the outer ring, 2.7% within the outer ring). The sale worth of personal properties would stabilize at € 311,400 in January 2020, in comparison with € 310,500 in January 2019. For Paris, notaries estimate a mean sq. meter at € 10,300 in January. In the long run, professionals are questioning the power of households to calmly attain house possession, accessibility being conditioned by credit score gives, earnings and accessible financial savings. The perpetual improve in actual property in the present day faces stagnant earnings and financial savings charges. These elements mixed point out that if the pattern continues, consumers will discover it more and more tough to maintain up with market costs.
