View of the Vieux-Lyon district, in the 5th arrondissement of Lyon, in June 2020. -

E. Frisullo / 20 Minutes

  • Lyon is one of the cities where real estate prices have increased the most in a year to stand at more than 5,500 euros on average per m2, according to the latest LPI-SeLoger barometer.

  • A situation due in particular to the attractiveness of the city and to a demand for goods always greater than the supply.

  • A scarcity effect that could set in in the coming months, even if for the time being, the market remains strong, with a delay in sales due to the confinement almost caught up, according to the Rhône notaries. 

Goods that go quickly and at a very good price.

In one year, real estate prices (new and old) have risen sharply in Lyon, according to the latest LPI-SeLoger barometer published at the start of the week.

A situation similar to that observed everywhere in France in recent months, but in a higher proportion.

“While prices are slowing in Paris (+ 4.5% over one year) and stalling in Bordeaux (+ 0.9), in Lyon, they explode with an increase of 11.5% observed between August 2019 and August 2020. So much so that today, the average price signed per m2 amounts to 5,536 euros ”, according to the barometer, with a peak observed in the 6th arrondissement (7,009 euros / m2) or the 1st and 2nd arrondissements (6,000 euros) .

Growth due to several factors according to Michel Mouillart, spokesperson for the LPI-SeLoger barometer.

“The attractiveness of the city cannot be denied,” he explains to

20 Minutes.

In a climate of scarcity of goods, with ever more pressing demand, attractiveness reinforces the upward movement that we are observing.

For this specialist, the growth in prices is also explained by the drop in activity observed in the former, with a weaker market responsiveness than a few months ago.

“It is clear that the health crisis and the economic consequences mean that households are selling less.

There are therefore fewer goods on the market and less responsiveness.

This results in an imbalance between supply and demand ”, he adds, recalling however that 2020 remains“ a good year ”.

"We have less activity than that of 2019, but we remain at completely correct activity levels if we compare to the 2010s in particular," adds Michel Mouillart.

Real estate prices in Lyon in August 2020. - LPI-SeLoger

A delay due to confinement almost caught up

At the Rhône Chamber of Notaries, very aware of real estate transactions carried out throughout the year, the vision of the Lyon market is good, particularly in the old one.

"Since the deconfinement, the market has been very strong", underlines the president of the chamber, Me Frédéric Aumont.

And this, thanks to the phenomenon of catching up sales that could not be achieved during containment.

The months of April, May, June and July are traditionally the busiest months in real estate due to moving plans, which are more numerous at this time of year.

"Despite the economic situation and the uncertainties weighing on the coming months, people have completed their projects", adds the expert who observes in Lyon a sales volume almost caught up compared to the delay accumulated during the two months of confinement .

In the old, houses with a green space or apartments with terrace or large balcony still have a strong coast.

"If it's at the right price, the goods go quickly and even rather in the upper range", indicates Frédéric Aumont.

The next few months remain unclear

This good real estate health is also explained for him by the attractiveness of the city, supported by a great diversity of activity sectors.

“There is no single activity like in other cities in France, but multiple sectors (industry, health, chemicals, etc.).

This helps cushion the economic shock ”.

At least for now.

Because for the months to come, the evolution of the market seems difficult to predict.

“September, October and November are eagerly awaited to see the trend.

They are usually more complicated months.

For now, based on early feedback, people are continuing to list.

There are operations, ”he says.

In sufficient numbers to balance supply and demand?

“For the moment, the situation has not upset the Lyon market,” he concludes.

Even if in Lyon, as elsewhere, the tightening of the conditions for obtaining loans by banks, observed since early 2020, does not help reassure real estate professionals for the coming months.

Economy

In which case can we have a reprieve for an approved loan for works?

Economy

Savings: Between March and July, the French set aside 85.6 billion euros

  • Economy

  • Bank

  • Coronavirus

  • Confinement

  • Crisis

  • Immovable

  • Society

  • Lyon