How did the real estate market in Ile-de-France behave during the last quarter of 2020?
Not too bad considering the situation detailed in our barometer established with our partner Best Agents.
Thus, apart from Oise (- 0.9%) and Paris (- 1.2%), all the departments have seen prices per square meter rise by 0.2% (Val-de-Marne) to 1.4 % (Essonne) in the last three months.
Better.
Over one year, despite the health crisis, prices have risen from 2% to 3%.
Revenge of the Great Crown
Since the start of the crisis, i.e. over one year, the departments of Val-d'Oise (+ 3.2%), Essonne (+ 3%) and Seine-et-Marne (+ 2.7 %) experience the strongest growth in the region.
But it is especially in the last quarter of 2020 that these territories have outstripped the others with an increase of 0.9% in Val-d'Oise, 1% in Seine-et-Marne and 1.4% in Essonne.
And the Yvelines to a lesser extent (+ 0.4%).
While the inner suburbs peak between 0.2% and 0.3%.
The fact remains that outside of Yvelines (4,500 euros per square meter), the average prices of old apartments are among the lowest in the region, between 3,000 and 3,200 euros, while those in the inner suburbs are between 4,100 euros to 7,000 euros the square meter.
Good deals are therefore to be made far from Paris.
Seine-Saint-Denis still attracts as much
Since the end of the first confinement, we have witnessed the return to grace of the cities of Seine-Saint-Denis.
Thus, in the last quarter of 2020, no less than 32 of them (out of 40) recorded an increase of 0.5% to 0.7%, while all those of the other two departments show lower increases.
Bobigny even has the luxury of being the only city in the inner suburbs to reach + 0.7%.
However, these figures should not be overinterpreted.
Because if this department regains color at the end of the year, it is roughly at the same level as the others over one year, i.e. + 2.86% against 2.54% for Val-de-Marne and 2.38 % for Hauts-de-Seine.
No spectacular inflation on house prices
At the end of the first confinement, real estate agencies experienced a marked increase in the number of visits to houses.
However, seven months later, it is clear that this craze has not led to a significant increase in prices.
And this, whatever the departments.
Only Val-de-Marne and Seine-et-Marne experienced, over one year, a greater increase in the price of houses than that of apartments.
Thus, the Val-de-Marne shows an increase of + 3.4% for houses against 2.5% for apartments.
The 77 recorded an increase of + 3.4% for some against 2.7% for others.
Seine-Saint-Denis saw its house prices increase by 3% against 2.89% for apartments.
All the other departments have an increase of less than 2% for pavilions against 2% to 3% for apartments.
"The greater crown has more valued assets today"
LP / Arnaud Dumontier
Thomas Lefebvre is Scientific Director at Meilleur Agents.
He is answering our questions.
The great crown, is it the new real estate El Dorado?
THOMAS LEFEBVRE.
It is clear that the health crisis has accelerated departures to the outer suburbs.
And also towards the small crown to a lesser extent.
And a figure proves it: Parisian prices are down 1.8% over one year while those in the suburbs are increasing, which is very rare.
Will this trend continue?
Hard to say.
Everything will depend on the evolution of certain trends such as teleworking as well as the economic situation.
But clearly, with lower prices and a better quality of life thanks to more space and exteriors, the greater crown has more valued assets today.
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Why is Seine-Saint-Denis doing so well?
Because there are still prices that don't match the market.
Having an average ticket of 3,800 euros per square meter for an apartment in Aubervilliers when you are on the outskirts of Paris is an anomaly.
When, in addition, we know that the 2024 Olympic Games will partially transform the department as well as the arrival of the supermetro, we say to ourselves that there are good deals to be made.
Unfortunately, at least for the moment, Seine-Saint-Denis is still suffering from its image.
Hence the low prices but not for a long time.
You just have to see what happened in Paris, in the Sentier (2nd), in the 18th or even in the 10th.
All the districts which have undergone profound changes have seen their prices explode.
For example, out of the ten neighborhoods that have increased the most in five years, we find all of those that form the 10th
(Editor's note: + 38% to 42%)
.
It seems that the price of houses has not increased that much despite the enthusiasm?
All is relative.
3% and more increase in three departments over one year, that's a nice performance.
But houses are still cheaper than apartments anyway.
And this is true for the whole region except for the Oise.
And the reason is simple: the houses, larger, are often located in less dense places therefore less close to shops, services and transport.
Especially in large crowns, where they are therefore less popular.