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Market analysis
29/10/2015
The capital does not finish to get noticed. While at the national level, real estate prices are on the downside, in central Paris, the latter showed a slight increase. Blame the small areas one and two-room, according to the 74th edition of the Barometer property prices residential MeilleursAgents.com.
Throughout France, prices continue their slow erosion. According to the monthly barometer of the site MeilleursAgents.com, based on sales agreements signed in September, prices of residential properties were down by 0.2% in Marseille and Lyon, 0.4% in Nice, Toulouse and Lille and up 0.7% in Strasbourg. The departments of the inner and outer suburbs are no exception: they show a decline of 0.2%. Only the capital seems to escape the rule. In September, prices rose 0.5%. The increase mainly driven by small surfaces (1 and 2 parts). Indeed, the latter created the surprise by increasing by 1%, where large surfaces (3 rooms and more) see their prices fall by 0.1%. A trend confirmed by the latest monthly report of Notaries of Paris-Ile-de-France.
Sébastien de Lafond, president of MeilleursAgents.com, rising prices of small surfaces is surprising. 'With rent control, which was implemented in Paris on 1 August, we expect a decline in the price of small areas, partly due to the lower profitability of these units to investors' commente- he said. Nay: if the application actually lowered prices, they have taken off. These results, which concern only the month of September, however, are to be taken lightly. Because in the space of eighteen months, from January 2014 to October 2015, the price of small Parisian area decreased by 4.2%, according to the same barometer. 'This indicates that investors are detached small areas before the implementation of the decree, in anticipation of rent regulation. It is therefore necessary to wait a few months to better understand the impact of this measure over time ', he decrypts.
Without being soothsayer, Sébastien de Lafond, however, sees a gradual decline in prices in Paris, 'which will involve more strongly the small and large surfaces,' he says. A hexagonal scale, the trend seems to be the same: in most cities, the real estate voltage indicator (ITI) of MeilleursAgents.com reveals that less than two buyers for a property for sale, which portends an overall downward trend in the coming quarters. 'We are moving in the 12 to 18 months, to a recovery in the housing market, especially in cities like Nantes, where the ratio between supply and demand begins to rebalance', he explains. An upturn is, however, conditional on an important factor: the decline in unemployment, which affects the behavior of buyers and vis-à-vis their trusted real estate project.
© Immo Matin - published on Barnes Paris on 29/10/2015
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