Immovable. Is Toulouse still “cheap” compared to other big cities?
By Gabriel Kenedi
Published on
In 2022, the prices of real estate increased further in metropolitan France. Over one year, the prices of old apartments increased by 4%while old houses recorded an increase of 8.2%according to figures released by the Notaries of France, in mid-December 2022. More what about in toulouse ? Make the point.
Apartment prices? +1% in Toulouse
After a record year 2021, how are the prices of old apartments In Toulouse ? According to the Notaries of France, (which are based on the first 9 months of the year, editor’s note), the prices per m2 the medians are between €1,170 in Saint-Etienne and up to €10,590 in Paris.
In the Pink City, the price does not reach 4000 € euros or more as in Nice, Bordeaux, or Lyon… The median price per m2 is 3240 € in Toulousewhich represents a slight change over one year of +1%. Toulouse, the fourth largest city in France in terms of population, therefore remains rather affordable (10e city on the price of apartments) compared to other metropolises.
Plus 25% in 5 years on apartments!
On the other hand, over five years, between 2017 and 2022, price change is +25% for old apartments in Toulouse! However, this is less than in certain large cities, such as Lille (+26%), Montpellier (+27%), Bordeaux (+29%), Marseille (+30%), Strasbourg (+37%), Lyon (+ 43), Nantes (+46%) or Rennes (+59%).
Over 10 years, between 2012 and 2022, the change in prices observed in the Pink City for old apartments is +27%.
House prices? Sharp increase
Strongly taken since the confinement and the health crisis, the old houses see their prices soar everywhere in France in 2022 (+8.2% nationally over one year).
In Toulouse, the median selling price is €327,200 for an old house, which represents a “relatively homogeneous” evolution of +4.2% over one year.
“The most significant increases are observed for the urban areas of Marseille-Aix-en-Provence (+10.6%), Nice (+11.4%) and Strasbourg (+12%). The first 2 had already seen their price increase by 10% a year ago (+7% for the agglomeration of Strasbourg)”, indicate the Notaries of France.
Plus 21% over 5 years
Over 5 years, the Toulouse conurbation sees its prices assessed by +21% for old houses. A development similar to cities like Reims we Le Havrebut slower than in large cities such as Nice (+27%), Lille (+27%), Marseille – Aix-en-Provence (+28%), Toulon (+28%) and Bordeaux (+31%), Strasbourg (+35%), Montpellier
(+36%), Nantes (+37%), Rennes (+39%) and Lyon (+39%).
Over 10 years, the evolution of the prices of old houses is +23% in Toulouse.
Due to the explosion of prices in these large cities, Toulouse remains relatively inexpensive in the segment of old houses:
Prices and price trends in old houses. (© Notaries of France)
What to expect in 2023 in France?
What to expect in 2023 on the real estate market. As for France, “for the weeks to come, we anticipate the slow decline in volumeswhile the mechanics of the rate of wear can lead to the postponement of a sales signature or even compromise it”, indicates Master Edouard Grimondspokesperson for the Notaries of France.
“In addition, the slowdown in the rise in prices has begun even though the decline is not for now. Over the medium term, however, we remain cautious in our concerns, as the macro-economic situation and the geopolitical context remain uncertain. In a context of energy sobriety, the quality of goods could have a growing impact on prices,” said the professional.
And in Toulouse?
While prices have practically ceased to increase for the past ten years, will the trend be reversed in Toulouse? To pay Me Frederic Giralpresident of the Chamber of Notaries in Toulouse, it is far from impossible.
” It will be more complicated to buy in 2023. The rise in rates, inflation, the complex international context and the downward barometer of French morale are elements that will impact real estate in the months to come”, analyzed the notary in the fall.
“We have been on a real estate buying spree in recent years, with exceptional volumes. One of the effects that we can fear today is assembling the offer. The drop in volumes will therefore surely happen mechanically in the months to come, with perhaps a corollary, a drop in prices,” he added.
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