Will real estate prices soar along future metro lines in Grand Paris? Yes, in all likelihood. Around some stations, there is even already a “station effect”, to believe the figures published by the notaries of Greater Paris. In a study published on January 30, notaries have in fact compiled the price developments of old apartments, within a perimeter of 800 meters as the crow flies around each future station.
And here is the observation. Along certain lines, the flights are spectacular. Around Saint-Ouen RER station, which will be served by the northern extension of line 14, median prices per square meter increased by 76% between 2008 and 2019. And at Mairie de Saint-Ouen station, the increase reached 68%. That’s a lot compared to the dynamism of local real estate. On the Common Plain, the territory uniting the city of Saint-Ouen and its neighbors, prices had indeed only increased by 32% over the same period. At Saint-Denis Pleyel station, in the neighboring municipality, prices have increased by 41% in ten years. And the price developments at Pont-Cardinet and Porte de Clichy stations are just as impressive (+ 64% and + 55% respectively).
>> Our service – Estimate the price of a property (immediate, free and without obligation)
Significant price increases around lines 14 and 15
The most noticeable increases are mainly seen around future lines 14 and 15. In the southern extension of line 14, for example, prices around Maison Blanche-Paris XIIIe climbed 50% between 2008 and 2019, to climb at 7,920 euros per square meter. At the Kremlin-Biceter, the next station is over 36% (5,530 euros per square meter). And at the next, Villejuif Institut Gustave Roussy, the outbreak still reaches 36%. The average price reaches 4,050 euros per square meter. “The differences between prices can be considerable from one station to another” note the notaries.
Around the future line 15, which will be 75 kilometers long, there is also a “station effect” on certain stations. Example in Bécon-les-Bruyères, where prices have increased by 45% since 2008. But also around Châtillon Montrouge, which has recorded a 38% increase, or even in Pont de Sèvres, which has increased by 54%.
>> Our service – Find the cheapest mortgage through our comparator
Still little impact on lines 16, 17 and 18
Nevertheless, notaries remain cautious about the importance of the “station effect” in these inflations. “The prices remain essentially representative of the geographic areas in which they fall,” they communicate. And that’s true. The districts which were already expensive before the Greater Paris project remain so … And those which were much less so, too. For example, around the Sevran – Beaudottes station (line 16), the median price per square meter collapsed by 15% in ten years, reaching 1,640 euros per square meter in 2019. Or a price lower than the average of the city of Sevran (2,369 euros).
Besides, if we look at the futures of lines 16, 17 and 18, it is difficult to identify for the moment a “station effect.” Only the surroundings of Massy-Palaiseau (+ 19%) and Versailles Chantiers (+ 30%) seem for the moment sensitive to the Grand Paris project. In any case, it will still be necessary to wait to know the real impact of the new metro lines on Ile-de-France property prices. The first sections should not be built until 2024.
