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Why real estate is at half mast in Bordeaux and Toulouse

2021-05-14T06:09:24.348Z


Complicated economic situation, overpriced properties, some cities are not taking advantage of the improvement in the real estate market.


The opportunity to do good business?

If real estate prices are on the rise, not all cities are in the same boat.

Thus, according to the figures of the Meilleur Agents site, some agglomerations such as Bordeaux, Toulouse, Toulon, Perpignan or even Montpellier are still not taking off and this has been going on for a year.

Read alsoReal estate: despite the Covid, prices are already on the rise

-2.2% over one year in Perpignan (1,522 euros / m2), -0.8% in Montpellier (3,142 euros / m2), -0.6% in Bordeaux (4,619 euros / m2) and Toulouse (3,473 euros / m2), all these agglomerations have not yet returned to the path of rising prices.

The economic factor largely explains this situation.

Thus, for Perpignan, the level of unemployment was, in 2020, 12.7% against 8.1% at the national level.

Bordeaux, for its part, suffers from having experienced a very sharp increase in prices over the past five years, in particular thanks to the high-speed line which connects it to Paris.

“Household income has risen much more slowly than real estate prices,” underlines Barbara Castillo-Rico, in charge of economic studies at Meilleur Agents.

Result: they can no longer afford to buy so expensive.

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The Bordeaux-Toulouse link in the viewfinder

But the city of wine is also suffering from the speculation of which it has been the victim through seasonal rentals.

It is indeed the city in France that has the most.

Furnished apartments therefore represent nearly 62.7% of the stock in total, ie an increase, over one year, of 52% in the volume of advertisements on the SeLoger site… “In between an aging real estate stock, no large economic activity zones like in Lyon, for example, and locals who can no longer afford to buy, prices can only drop, ”Stéphane Moquet analyzes.

To read also Real estate: "In Bordeaux, the soaring prices are behind us"

In Toulouse, where the aeronautics giant Airbus is located, prices do not take off either, particularly because of the dramatic situation in the aviation sector.

"Because beyond the Airbus employees, it is also all the subcontractors, located in the region, who also suffer and this is reflected in the purchasing power", underlines Stéphane Moquet, CEO of Orpi.

Thus, in March 2020, there were 23 buyers for one seller while in May 2021, this figure was halved.

"And it is a city which is not very well connected even if that should change with the Bordeaux Toulouse link", adds Yann Jehanno, director of Laforêt.

Source: leparis

All news articles on 2021-05-14

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