the market is idling in the center of Lyon

the market is idling in the center of Lyon

2023-06-03 06:30:17

Since autumn 2022, Lyon has suffered a strong disaffection from property buyers. “The rise in credit rates has weighed on their purchasing power and we have gone from total euphoria to reduced activity”, notes Anne Monard Bretin, director of the Guy Hoquet agency L’Immobilière du Plateau. Investors have also turned away from the market, which is too expensive and has become unprofitable since the implementation of rent controls at the end of 2021. This shift remains however denied by sellers, who continue to post high prices.

The trend is particularly noticeable in the center of the metropolis, which includes the historic districts of Vieux-Lyon, Croix-Rousse, the Presqu’île and the surroundings of the Tête-d’Or park. Listings at too high a price slow down the pace of transactions, even at the high end. “Buyers who can buy without a loan are very demanding and negotiate systematically”says Clémentine Aknine, manager of Sotheby’s International Realty in Lyon.

The average rate in the city has fallen by 3.1% over one year, according to Meilleursagents, but the declines are greater for accommodation with work or defects. “Since January, to attract buyers, sales should be between 5% and 7% below the mid-2022 price”judge Sam Noui, head of the ORPI Saxe-Gambetta agency.

Read also: Article reserved for our subscribers In Toulon, the real estate market resists

In the golden triangle, from the Foch and Masséna metro stations to the Boulevard des Belges, surfaces of 120 to 180 square meters attract fewer bourgeois families than before. Prices there fell sharply, but it was also in this sector that they had risen the most. It takes 5,500 to 6,500 euros per square meter for a classic property and 6,500 to 6,800 euros without defects. “The ceiling of 7,000 euros is only exceeded for exceptional accommodation, for example with a terrace and a full view of Fourvière”note Mme Aknine.

Paved courtyards

Still in the 6e borough, the livelier district of Brotteaux appeals to young families and condominiums from the 1970s to 1980s are worth 5% to 10% less than in the golden triangle. On the outskirts of Part-Dieu and in Saxe-Gambetta, three-room and four-room apartments sell for 5,100 to 5,500 euros per square meter and between 4,500 and 5,200 euros north of the Jean-Macé metro.

On the other side of the Rhône, between the two rivers, the peninsula stretches from Terreaux to Perrache station. In the south, the Ainay district still appeals to families, with its shops and large apartments (from 5,500 to 6,100 euros per square meter). From Place Bellecour to the Saint-Nizier sector, the district rather charms newcomers, paying between 5,500 and 6,000 euros per square meter to live in these bourgeois lands. A little further north, the area around rue Sainte-Catherine, popular for its nightlife, is getting younger, and prices range from 5,200 to 5,500 euros.

You have 30.3% of this article left to read. The following is for subscribers only.

#market #idling #center #Lyon


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent News

Editor's Pick