Real estate in Gironde: no collapse according to Chamber of Notaries, but “a phase of settlement”

Real estate in Gironde: no collapse according to Chamber of Notaries, but “a phase of settlement”

LThe Chamber of Notaries of Gironde has just published the figures on real estate transactions for 2023. Four point overview.

1 A market in decline, but in relative decline

The real estate market is in decline in the Gironde: this has been established by the site seloger.com; the Chamber of Notaries confirms this. With all the more credibility because all transactions necessarily go through the professionals it represents. And the figures she made public speak for themselves. By 2023, the number of transactions will decline globally by around 20%, including…

LThe Chamber of Notaries of Gironde has just published the figures on real estate transactions for 2023. Four point overview.

1 A market in decline, but in relative decline

The real estate market is in decline in the Gironde: this has been established by the site seloger.com; the Chamber of Notaries confirms this. With all the more credibility because all transactions necessarily go through the professionals it represents. And the figures she made public speak for themselves. In 2023, the number of transactions overall will show a decline of approximately 20%, including a decline of 56% for new apartments.

In terms of price, we are at -6.5% for old apartments and -5.5% for old houses. To collapse ? Delphine Detrieux, chairman of the Chamber of Notaries, puts things into perspective: “This decline is national. And it follows a momentum of +10% every year since 2020, which would inevitably end one day! We are in a settlement phase. »

SO infographic

And don’t forget that transaction volume in 2023 is actually comparable to pre-Covid volume. “But the prices are much higher. » According to the latest study by the Metropolis Observatory, the metropolis of Bordeaux remains the third most attractive city in France, after Paris. Behind Lyon and Nice, but ahead of Lille or Nantes. And its benefits – quality of life, environment, etc. – are not a fad.

“Transaction volume in 2023 is comparable to pre-Covid, but prices are much higher”

In addition to the known reasons for this slowdown (inflation, increase in interest rates, etc.), Delphine Detrieux also points to decisions specific to the Gironde: rent control in Bordeaux and the implementation in the metropolis of a rental permit that covers the fact that a property is not can come onto the market without the green light from the urban planning department. “These measures are extremely virtuous. The problem is that they arrived at the same time. There was a funnel effect. »

2 Bordeaux, Libourne, Bassin: contrasting situations

Although the downward trend is general, we do note some specificities. In Bordeaux, the price per square meter is still rising in remote areas such as the Lac (3,590 euros, +1.3%) or the Chartrons-Grand Parc sector (4,610 euros, +0.1%). In the agglomeration, municipalities near Bordeaux, which are easily accessible by public transport, continue to see the number of old homes increasing: 3,970 euros in Talence and Bouscat (+1.5% and +2.3% respectively).

“North Gironde is the most affordable sector for people with a limited budget or for starters”

In Nord-Gironde, the average price of building land has increased by 1.2%, but remains at 60,700 euros. “It is still the most affordable sector for people with a limited budget or for starters,” analyzes Me Viktor Marin. And the basic civil security project in Libourne, with the arrival of 1,500 inhabitants, will give this sector a boost. » Actually, it is only in Libourne that the number of transactions has increased. This is true on a very small volume (see the infographic).

And in the Basin the crisis does not seem to exist. Stimulated by a reduced and limited supply, prices are either stable (495,100 euros: average price for an old house) or increasing, up to +7.4% for building land. In Arcachon, Lège-Cap-Ferret or La Teste-de-Buch, exceptional houses always sell for several million euros. For several hundred square meters of living space and more than 1,000 square meters of land…

3 Rather young buyers… and Girondins

It is a fairly young audience that drives the market. 28% of buyers are between 30 and 39 years old, and we increase to 42% if we add buyers under 30 years old. This population mainly buys in the metropolis of Bordeaux, or not too far away, in Entre-deux-Mers or Nord-Gironde. Conversely, those over 60 buy mainly in the Arcachon basin (40.8% of them) and in the Médoc (24.8%). “The older we get, the more we go to the coast,” summarizes Delphine Detrieux.

“There are only 6.7% of buyers in Ile-de-France in Gironde. Almost 80% of buyers are Girondins”

Which casually puts paid to the idea of ​​Bordeaux being colonized by Parisians: “There are only 6.7% of Ile-de-France buyers in the Gironde, and they focus mainly on the Arcachon basin. Nearly 80% of buyers are Girondins. » Regarding the socio-professional categories, more than half are made up of intermediate professions and senior managers.

4 Reasons to believe in 2024

Will these buyers return to the market in greater numbers? Delphine Detrieux assumes this when she (like others) notes that real estate loans are no longer increasing. “Some banks have even lowered their rates. The French are gradually regaining confidence, even if it takes time. »

She also points to promising projects such as the requalification of the Allées de Tourny, by 2027. “We have probably reached the end of the wait-and-see attitude. 2024 should be the year of a turning point. »

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