• In recent times, the Ile-de-France real estate market has been characterized by a boom in demand for houses, particularly in the outer suburbs, linked to the desire for fresh air by city dwellers coming out of confinement.

  • At the same time, demand for apartments has subsided, particularly in Paris where the price per m², if it remains above the symbolic bar of 10,000 euros, has slightly decreased by 1.4% over one year, according to figures from notaries.

  • But in recent months, the number of transactions in the capital has multiplied with the probable effect of a rise in prices which could occur at the end of the year.

Buying in Paris is a dream come true, but it's expensive, very expensive.

So should we fall back on the first, or even the second crown to hope to find the house of happiness there with calm and a garden?

We are going to try to answer these questions that all amateurs of real estate advertisements ask themselves with Thierry Delesalle, president of the real estate commission of the notaries of Greater Paris and Michel Platero, president of the Fnaim of Greater Paris.

The awakening of Paris

"The Parisian market has never been so dynamic with 40,000 transactions over one year, unheard of for twenty years", points out Thierry Delesalle.

At the same time, prices fell slightly with a negative change of 1.4% between July 2021 and July 2022 for old apartments according to notarial figures.

But if the prices do not increase, they remain very high with an average of 10,590 euros/m².

"It's a welcome break, which has also allowed the province to catch up and the return of investors," said the notary.

However, the increase in the volume of transactions even though the real estate stock is not growing in Paris – it is even tending to shrink – is reducing the stock of mandates among real estate agents.

Ultimately,

less goods available inevitably means a rise in prices, especially if the desire of buyers persists.

“When there is a lot of volume of transactions, we always observe a price increase afterwards,” explains Thierry Delesalle.

“Apartment prices will increase by the end of the year,” confirms Michel Platero, who is banking on a sharp rise in the north-east of Paris.

What about the small crown?

"The ring road barrier has fallen a bit because buyers have realized that in the inner suburbs, it can be much cheaper," observes Thierry Delesalle.

In fact, the price per m² of an old apartment has increased slightly by 0.5% over one year but remains almost twice as expensive as in Paris (5,510 euros/m²).

And above all, there is a form of rebalancing between the departments.

“Where it is the most expensive, prices drop and vice versa, notes the president of Fnaim Grand Paris.

In Hauts-de-Seine, we have - 2.9% in September against + 2.9% in 93. " In this last department, Michel Platero is betting on strong dynamism in prices, in particular with the development of transport offer.

“If you make an investment there, it won't be bad,” he advises.

And the notary concludes: "Finally,

Greater Paris is in the making.

»

The Covid-19 effect

At the end of confinement, many city dwellers had a desire for fresh air and greenery.

Far from being a myth, this phenomenon was reflected in the real estate market since the demand for houses exploded, which caused a price increase of 5.2% in the outer suburbs over one year with a price average house at 335,300 euros.

"The development of telework is an important element that moves prices," confirms Michel Platero.

And if the volume of sales fell by 15% over one year, after having reached peaks, “it is because we are in lack of offers.

Even the houses that had remained unsold for years are gone,” explains Thierry Delesalle.

In the inner suburbs, on the other hand, the market is very weak due to the disappearance of individual houses under the battering of developers.

All our articles on real estate

Does the Grand Paris Express drive up prices?

According to Michel Platero, “within a perimeter of 500 meters around a station, it drives up prices”.

Thierry Delesalle is much more measured: “The Grand Paris Express has never caused prices to soar because 80% of new stations are existing stations and therefore already integrated into very dense networks.

“For him, the only way for the district to increase in value is if the community undertakes” an urban development plan in parallel with the new station because the station itself does not do much.

»

Economy

Real estate: "We should not add a housing crisis to the energy crisis", says Laurence Batlle

Economy

New real estate: A city of Seine-Saint-Denis among the most expensive in France, a first

  • Paris

  • Ile-de-France

  • Immovable

  • Lodging

  • Apartment