“More spacious and more accessible accommodation than in metropolitan areas, a pleasant living environment with natural spaces, essential amenities and services nearby…” These are the assets of so-called “medium” cities, according to the Higher Council of the notariat (CSN), which recently presented the 3rd edition of its real estate barometer dedicated to these municipalities.
A study which confirms the particularly marked recovery of their real estate market, after two years impacted by the pandemic. Between 2020 and 2021, the dynamic is indeed positive, both in terms of sales volume and price trends. Another fact: an accentuation of the movement of travel from large metropolitan centers to these medium-sized municipalities.
The cities studied by the barometer, 200 territories in total (with between 20,000 and 100,000 inhabitants), are part of the national Action Cœur de ville program. Launched in 2018 and extended for 2023-2026, its objective is to bring inhabitants, shops, services and activities (back) to these municipalities, to preserve natural and agricultural areas, to deal with the commercial periphery and to improve the framework for city life.
Sales volumes up in 2021
The recovery of the real estate market is confirmed with a volume of sales up 12% in 2021 compared to 2020, i.e. 14,550 additional transactions carried by 156 cities of the national Action Cœur de ville program out of the 200 studied by the Notaries.
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Increasing sales since 2018
According to the CSN, the trend between 2018 and 2021 is indicative of the attractiveness of the territories of the Action Cœur de ville program and of its first impacts, with a 17% increase in transactions in the program’s central cities over this period and 20% if their agglomeration is taken into account. This concerns 164 cities out of 200 studied over the period (excluding Île-de-France and Mayotte).
Agglomerations in our territory, which are part of Action Cœur de ville, are experiencing, between 2018 and 2021, increases in transactions (apartments and houses combined in the old) of more than 20% (Valence, Romans-sur-Isère, Aubenas, Annonay, Bourg-en-Bresse, Belfort, Épinal, Toul, Forbach, etc. or less than 20% (voiron, Chambéry, Vienne, Besançon, Vesoul, Saverne, etc.).
While others recorded a reduction in their sales volume of more than 20% (Haguenau, Colmar, Guebwiller and Vitry-le-François) or less than 20% (Thionville, Sarrebourg, Rumilly and Bourgoin-Jallieu).
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Rising prices, but still accessible
This increase in the volume of sales in most medium-sized towns is correlated with an increase in real estate prices of around 16.6% for old houses and 15% for old apartments in 137 towns in the program on the period 2018-2021.
With regard to the average median price of apartments, the study shows an increase from €1,353 per m² in 2018 to €1,557 per m² in 2021 in the central cities, against an increase of €1,666 per m² to 1,832 € per m² in the rest of the cities over the same period. The price of old houses also increases, i.e. + 7.9% in 2021 compared to 2020.
Despite these increases, prices are still more accessible than in the big cities, for larger properties.
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