View of the Garonne and the Pont-Neuf from the Saint-Michel bridge in Toulouse.

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FRED SCHEIBER / 20 MINUTES

  • Over the last year, the prices of apartments in old buildings have increased by 8.4% in Toulouse to reach the median price of 2,900 euros per m2.

  • If sales experienced a rush after the deconfinement, with the health crisis and the tightening of access to credit, the notaries expect a lull.

After the deconfinement, they expected a break in real estate transactions in Toulouse.

But it is quite the opposite that lived the notaries of the agglomeration.

Sales of older apartments increased by 5.8% between July 1, 2019 and June 30, 2020, and in their wake increased prices (+ 5.6%).

In the department, the median price is now 2,570 euros per m2 and 2,900 in Toulouse (+ 8.4%), with big disparities depending on the neighborhood.

Bar of 5,000 euros per m2 crossed

“We had a rush after May.

But it's not just a catching-up phenomenon, the confinement has provoked a reflection on the change of habitat, people want to have an outside, whether it is a terrace or a garden and some people are now teleworking for two days. per week and say to themselves that they can make the effort to travel and then there is a notion of safe haven, ”explains Philippe Pailhès, president of the chamber of notaries who presented his annual report this week.

This surge in prices in the old has been felt in certain downtown areas where three of them crossed the 5,000 euros per m2 mark this year, which had never happened.

It is therefore difficult for small grants to try to find an apartment near Saint-Georges (5,130 euros / + 14.5%), Saint-Etienne (5,110 euros / + 5.8%) or Capitole (5,020 euros / + 13.2%).

Average real estate prices in Toulouse by district in June 2020. - Notaires de France / BDD Perval

“We have not experienced such price inflation for over fifteen years.

Twenty neighborhoods have seen double-digit increases, prices that are not in line with the market.

What we also notice is that the gap is widening with the beautiful districts and the working-class districts ”, continues Philippe Pailhes.

A price increase which was also found on the home market.

In Balma, where you have to spend an average of 463,500 euros (+ 13.4%) to have a roof over your head.

In Toulouse, the median price is now 369,500 euros (+ 8.8%), but goods for sale are rare.

“What we imagined still accessible, houses around 250,000 euros in the inner suburbs of Toulouse, no longer exists or requires more investment.

Those who have a real thought to leave their Toulouse apartment project themselves more in the 2nd and 3rd suburbs ”, explains Frédéric Giral, delegate of the notarial institute of real estate law.

# FiguresImmo31 Median price per M2 of old houses in Haute-Garonne: + 4.7% pic.twitter.com/tBScNAEAXl

- Notaries - Toulouse Court of Appeal (@Notaires_Tlse) September 29, 2020

A step backwards since the urban exodus was a reality fifteen years ago, before a tendency to return to the city.

Loans not made

But those who dream of a cozy nest with gardens are also sometimes faced with new obstacles.

While interest rates remain at an attractive level, the levels of collateral demanded by banks are increasingly high.

And it's not uncommon to see sales fail due to bad loans.

And the onset of the crisis, particularly in the aeronautics sector, could further increase the tightening of access to finance.

“The evolution of prices means that young people are also starting to have difficulty entering the market.

In Toulouse, coming out of confinement, with this frenzy we also had the impression that people were in denial.

We will certainly be faced with a slowdown in sales and price increases, we will be contaminated by the anxiety-provoking nature of the situation, ”considers Philippe Pailhes.

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