Real Estate Figures in the Rhône Department: A Sharp Drop in Sales Volumes and Rising Prices

The Chamber of Notaries of the Rhône presented Thursday, April 27 the real estate figures on Lyon and the department at the end of December 2022. This review carried out over the last 12 months shows a very clear drop in sales volumes of around -8.3%, all goods combined.

While prices are still slightly up at the end of 2022, the decline has clearly begun since January 2023.

Notaries of the Rhône – Update on real estate in the Metropolis of Lyon –

New programs recorded a real drop in reservations in the order of -20% (outside the Métropole), -17% (Lyon Métropole), -19% for the exteriors of the Métropole for the year 2022 with a very marked accentuation of this decline for the 1st quarter of 2023 compared to the 1st quarter of 2022 of -40% (-43% for the Métropole de Lyon, -15% for outside the Métropole and -35% for the Lyon urban area) . (According to the latest FPI and CECIM figures)

Sharp drop in sales volumes, all goods combined

Sales volume fell by – 8,3 % in the Rhône department for the year 2022. – 6,8 % for old apartments, – 4,3% for new apartments, – 14% for old houses and – 8,8% for building land.

While prices have increased for old apartments (+4.1%) and old houses (+5.1%) over the whole of 2022, the trend has been downward since January 2023.

Sales of old apartments slow down in the department and in Lyon

The prices of old apartments located in the Rhône tend to stagnate (+0.3%) against + 5.1% in the provinces. The median price* in the Rhône (€4,080) is still rising (+ 3.1%) with a drop since January 2023.

It is still one and a half times higher than the department of Isère and more than double compared to the Saône et Loire.

Concerning the arrondissements of Lyon, the districts of Lyon 2, Lyon 4, Lyon 6 and Lyon 9 again recorded a slight drop this year, even if they remain the most expensive. The typology of old apartments has not changed. The T3 is still more attractive.

The volume of new flats falling with prices always rising particularly given the sharp increase in the cost of construction bound to the increase in raw materials.

If the number of transactions relating to new apartments continues to fall (-4.3%) logically in view of the lack of offers linked in particular to the number of building permits granted, prices meanwhile increase very slightly by + 2.7%. It should be noted, however, that buyers are concentrating more on smaller areas, 2 and 3 rooms.

The median price is higher in Lyon (€6,440 per m2) than in the Rhône (€5,030)

old houses : falling volumes but rising prices

While the sale of old houses has fallen by 14% in the Rhône department, prices have however increased by + 8% in 2022 with a median price of €399,600. The highest median price (€684,800) still goes to Caluire and Lyon with a great disparity at the level of the municipalities.

The price of building land still on the rise (+13%)

Regarding land for sale, areas of less than 600 m² are the most sold. They are also those that are most present on the market, and this in the whole department. As available land is becoming scarcer, prices for the moment remain on the rise.

1/3 of buyers are senior executives in their thirties

The profile of buyers does not change. 1/3 of the buyer is a senior executive under 40, who buys for a period of less than 5 years. The buyers are in 82% of cases from the Rhône department.

* the median price is not the average price. It indicates that half of the transactions were concluded at a price below and the other half at a price above the median price.