(Photo credits: Pixabay – Gerd Altmann)
For the first time, the number of apartment sales in the Grande Couronne was higher than in the capital, penalized by prices per m2 that never cease to climb and a limited housing stock. This rise is also spreading beyond the ring road. And the phenomenon does not seem ready to decline with floor credit rates.
The return of real estate has been the opportunity to cross several records: first the market does not know a break and continues its momentum with over a million transactions recorded by the Notaries of Greater Paris during the year 2019 The other record, but in reverse, is materialized by the level of credit rates that has never been so low (1.17% average rate since August). Finally, the price increase in the capital, at around 10,000 euros per m2 on average, makes it never more expensive to invest in stone in Paris. "Becoming an owner in Ile-de-France requires a considerable financial effort for the majority of buyers," says the conjuncture note of Notaries of Greater Paris. Especially since the rise in prices has a tendency to propagate concentrically from the center to the periphery. A trend that is found in many real estate stress agglomerations, that is to say where there are more buyers than sellers.
More apartments sold in Grande Couronne than in Paris
In Paris, sales increased by only 3% during the second quarter of 2019, mainly due to the decrease in the number of real estate properties and "a number of buyers still significantly higher than the sellers. "According to the website MeilleursAgents. The fact that the capital loses inhabitants every year because of a lower population growth, does not change anything. It has become increasingly difficult to buy in Paris. At the other end of the spectrum, the apartment market in Grande Couronne is proving to be the most dynamic with sales up nearly 15% compared to last year. "This is the first time that the volume of sales of old apartments in large crown is higher over the year than the volume of sales of old apartments in Paris," said Marc Friedrich, Notary in Levallois-Perret, during the return conference of the Notaries of Greater Paris. So 37,050 apartments were sold in Grande Couronne between July 2018 and June 2019 against 36,050 in Paris. In Petite Couronne, sales increased 8% over last year.
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Paris at more than 10,000 euros per m2
The average price per square meter of Parisian apartments, which was 9,890 euros per sq. Meter during the second quarter of 2019, exceeded 10,000 euros during the summer. In the small crown, only Neuilly-sur-Seine has already crossed this threshold during the year "because of a narrower and more homogeneous market," says Marc Friedrich. Finally Levallois-Perret also knows a price increase and is approaching 9,000 euros per m2.
For Paris, the price of apartments has jumped 25% in four years, from 7,890 euros per square meter in 2015 to 10,000 euros since August 2019. "From now on, only the nineteenth, twentieth and thirteenth arrondissements have prices lower than 9,000 euros from m2. Nearly eleven districts out of twenty exceed 10,000 euros per m2, eight are more than 11,000 euros per m2 and five above 12,000 euros per m2, "analyzes the note of conjuncture of Notaries. The district of La Chapelle in the eighteenth arrondissement is the cheapest in the capital (7.470 euros) and the most expensive Odéon district (17.040 euros). The record was held by the sale of a duplex in the seventh arrondissement, on the side of St. Thomas Aquinas, more than 35,000 euros per square meter.
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A more moderate price increase in Grande Couronne
In Petite Couronne, price increases continue at an annual rate of about 4 to 5% for apartments and around 3% for houses. In this market, nearly 57,630 sales were made during the year, an increase of almost 4% compared to last year and with a price increase more moderate than for apartments since it is only 3.3% in Petite Couronne and 1.2% in Grande Couronne. Overall in this sector, price variations remain contained and "lower than the peaks of 2011". Given the fact that it is necessary to pay only 3,000 euros of m2 in Grande Couronne, against 5,000 in Petite Couronne, households tend to refer to this market still accessible. But for how long ? In fact, the Notaries of Greater Paris estimate that the price increases are not yet finished while the peaks of real estate transactions take place during the spring.
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