Ile-de-France: are you earning enough to afford 75 square meters of housing in your city?

Tell us how much you earn, we'll tell you what you can buy in Ile-de-France!

Be careful, the result is thrilling.

According to the latest estimates from the brokerage firm Vousfinancer, it is necessary to earn at least 11,500 euros net per month to afford accommodation in Paris of 75 square meters and at least 7,660 euros for a 50 square meters.

A challenge when we know that the average French net salary is around 2,300 euros per person (Insee data, 2017).

“In ten years, the average price per square meter in Paris has increased by 5,500 euros to reach 10,630 euros according to the Chamber of Notaries of Greater Paris, explains Sandrine Allonier, director of studies with the broker.

At the same time, the fall in interest rates, although they have been divided by three, was not enough to compensate for this surge, which means that you have to earn much more to buy in Paris.

The broker calculated this necessary net income from a mortgage over twenty years at 1.35% (excluding insurance) taking into account the payment of a personal contribution of 10% that most banks now claim.

Owning, an opportunity reserved for couples

Thus, to afford a family apartment of 75 square meters intramural requires borrowing, under the current conditions set by the banks and imposed by the High Council of Financial Stability (HCSF), precisely 797,250 euros, which amounts to s '' pay a monthly payment of 3,792 euros for twenty years!

And even if you are satisfied with a 50 square meters, know that you will have to assume more than 2,500 euros of credit each month (or 531,500 euros excluding insurance costs) for twenty years ... It is an understatement to say that it is not within the reach of all wallets.

"A single person can no longer, or with great difficulty, become a homeowner in Paris, unless they make an extremely good living," notes the professional.

In other words, you have to live as a couple and have at least a senior executive salary.

Paris is closed to first-time buyers

"Those who buy in Paris have a very different profile from the average profile of borrowers," insists Sandrine Allonier.

Only 20% of buyers are first-time buyers in Paris, against 40% on the national average.

As for investors, they are, unsurprisingly, twice as numerous in the capital (30%) than in the rest of the country (15%).

Families, looking for an extra room, have no choice but to buy in the first or second ring.

A more or less forced exile that the repeated confinements have accentuated.

“The French are attached to stone, more than ever considered a safe haven, and will prefer to move away from Paris to gain space and greenery to acquire the desired surface, notes the expert.

With a monthly payment of 1000 euros over twenty years, you can buy 12 square meters more in Ile-de-France than in Paris, 32 square meters against 20 square meters, that's one more room ... or even more depending on that we buy in large crown or in small.

But beware of the "ricochet effect"!

“This is what we call in our jargon the rise in prices linked to the transfer of Parisians to the Little Belt for example,” she underlines.

Seine-et-Marne and Essonne more accessible

This "ricochet effect" is particularly visible in the Hauts-de-Seine, by far the most expensive department in Ile-de-France behind Paris, carried by the very chic neighboring towns: Neuilly-sur-Seine, Levallois- Perret and Boulogne.

You have to earn more than 7000 euros net per month on average to hope to borrow enough to afford a 75 square meters in this department, against more than 4600 euros net for a 50 square meters ...

Supported by the dynamism of Saint-Maur-des-Fossés and Vitry-sur-Seine, Val-de-Marne comes in third place: you have to collect more than 3,600 euros net each month to pay for 50 square meters. (5400 euros net for a 75 square meters).

Then follow each other in a pocket handkerchief Seine-Saint-Denis and Yvelines.

The two departments require an average net salary of 2,800 euros to become the owner of a 50 square meters on credit ...

At the other end of the spectrum, Seine-et-Marne and Essonne are half the cost of Hauts-de-Seine, allowing with 2000 euros net per month to acquire a 50 square meters (count 3000 euros net for a 75 square meters).

With a monthly payment of 1000 euros per month over twenty years, "it is possible to buy 76 square meters in Seine-et-Marne but only 32 square meters in Hauts-de-Seine", summarizes the director of studies.

If it is still possible to do business, especially in the departments at the back of the pack, it anticipates a strong price catching up in Ile-de-France in the long term: “Thanks to the fiber and the density of the rail network.

"And to conclude:" It could become problematic if they join the Parisian levels.

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