From Coulommiers to Savigny-le-Temple, from Essonne to Yvelines, prices in the Greater Ile-de-France crown have risen sharply since the start of the pandemic. Stocks of goods for sale are falling and the trend is not regarding to reverse.
The greater Ile-de-France crown on the coast. According to data from the chamber of notaries of Paris Ile-de-France, the year 2021 confirms the real estate attractiveness of Essonne (91), Val d’Oise (95), Yvelines (78) and Seine-et-Marne (77). Sales jump 12% in 1 year, according to data from notaries over the whole of the outer suburbs, all typologies combined. As for prices, if they increase by around 4% depending on the departments for apartments, they increase by 5.5 to 8% for houses.
If some investors manage to do business according to the municipalities, the buyers seek in priority to settle in these territories: ” It is more and more difficult to become an owner in the first ring if you want space or a garden observes Barbara Castillo Rico, head of economic studies for Meilleurs Agents. ” Prices are very high there, whereas in a department like Essonne, the average price per m² is 3,157 €”, she adds.
Properties that did not find takers ten years ago are now in demand, raising fears, according to notaries, of future price increases in these territories. ” The migratory movement that we have known since the pandemic will not stop in 2022. I see individuals moving to my study and ready to leave Paris and neighboring towns for the second crown », notes Thierry Delesalle, associate notary in Paris
Yvelines: the houses at the highest level
With an average price per m² of €4,430 according to data from Meilleurs Agents, the Yvelines department peaks in terms of attractiveness. Versailles and Saint-Germain-en-Laye remain the two towns most popular with buyers. Prices increased respectively in the two cities by 4.8% and 5.6%. Houses in Versailles rarely sell for less than €900,000 and only near the Versailles Chantiers RER station. In Saint-Germain-en-Laye, it is the district of Montreuil that concentrates the properties at the most affordable prices, around 3,500 €/m². Apartments from the 70s in the vast majority. The most sought-following properties are located in the city center, in the Alsace-Pereire district or near the international high school. For these two sectors, prices are estimated between €5,500/m² and more than €9,500/m².
In Sartrouville and Saint-Rémy-lès-Chevreuse, house prices have exploded by more than 35% in just 5 years, according to figures from notaries. A villa in the first commune now sells for around €503,000 and €604,000 for the second, still according to data from notaries. In Le Vésinet, it is apartments which, following houses, are experiencing overheating with a price increase of 37% in 5 years and an average m² for these properties of €6,530. ” This is the great novelty of recent years in the great crownexplains Thierry Delesalle, even apartment sales are buoyant. Prices are rising and stocks of goods for sale are becoming scarce in these territories. The lack of new construction will push up the prices of the old ».
Essonne: investing in real estate when possible
Essonne, for its part, is taking advantage of the explosion in prices in Val-de-Marne to gain in attractiveness: “ It is the natural transfer market of the Val-de-Marne. There is a shortage of goods and demand is growing, especially in a city like Juvisy which will soon be linked to Orly by tram “, says Vincent Francis, real estate agent in the north of Essonne at Guy Hiccup real estate. Work on this new line should begin by 2024. With a price per m² close to €3,400 according to Meilleurs Agents, the municipality of Juvisy-sur-Orge has recorded price increases of more than 6% on apartments and might be of interest to investors.
The greater crown as a whole is not devoid of interest for buyers looking to rent, in particular for tax reasons through the Denormandie system. The latter allows you to benefit from tax deductions of up to €63,000 on the condition of renting a property for 12 years. The accommodation must first undergo energy improvement or renovation work, the amount of which must correspond to at least 25% of the total cost of the operation. In Essonne, Évry, Corbeil-Essonnes or even Arpajon are concerned by the device.
Val d’Oise and Seine-et-Marne: houses at all costs
But for villas and other houses with a good size, Val d’Oise and Seine-et-Marne seem to concentrate the interest of buyers according to the figures of Best Agents. Thus, in the 95, more than 50% of the demand in Plessis-Bouchard concerns houses and this figure exceeds 60% in the communes of Herblay and Saint-Leu-la-Forêt. Same observation in the 77 where Savigny-le-Temple, Saint-Fargeau-Ponthierry or Ozoir-la-Ferrière are for the most part markets where we are only looking for houses (between 50% and 60% of demand) .
The tension is such on this category of goods that prices are rising sharply. In Coulommiers, the price of houses increased by 25% to reach €272,000 in one year and by 20% in Moissy-Cramayel to reach €297,000 on average. In Seine-et-Marne, Sannois recorded the highest increase for this category of property over one year (+17%) with houses sold at €452,000. The town is followed by that of Ézanville (+15% over a 1 year) and its villas at 337,000 €.
