–The average price of a new home nationwide is 4,650 euros per m² (© AFP)–
If the price is 30% higher in new than in old on average, the price of a newly built accommodation varies according to a ratio of 1 to 5 depending on the location.
(BFM Immo) – How much does new housing cost in major cities in France today? For the first time, a barometer details the prices of new buildings in more than a hundred cities. According to this barometer, revealed to you this Thursday by BFM Business and BFM Immo and which was carried out by the specialist in the analysis of the new market “Le Laboratoire de l’Immobilier”, the average price of new housing nationwide ( excluding individual houses) is 4,650 euros per m².
But behind this national average (see the complete table city by city at the end of the article) hides, as always, very large disparities. The prize obviously goes back to Paris where the average price of new builds approaches 12,500 euros per square meter (12,438 €). The peak is now in the 15th arrondissement, with an average that exceeds 15,000 euros per m² (15,067 €). Be careful, however, because there is no data available for certain central districts of the capital, where prices could have increased more, simply because there are not enough new programs (it is necessary to minimum three to integrate the barometer).
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Outside Ile-de-France, the other most expensive cities are Lyon, with an average price for new housing of 5,923 euros, Nice (5,502 euros) and Bordeaux (at 4,800 euros per m² on average). Conversely, the cheapest cities are Mulhouse (barely 3,033 euros per m² for new housing), Le Mans (3,225 euros), Pau (3,234 euros), Tourcoing (3,259 euros) or Le Havre (3,293 euros) . In the end, new prices vary according to a ratio of 1 to 5 between the least expensive city (Mulhouse) and the most expensive Parisian district (the 15th).
New 33% more expensive than old on average
Beyond this overview, this knowledge of the prices of new in France also allows comparisons with the prices of old and realize that the price differences tend to widen. Usually, industry professionals assess the gap between new and old prices in the range of 15-20%. However, the figures from the real estate laboratory show that today this difference is more than 30%. It is even 33% precisely when we compare national averages: 4,650 euros per m² on average in new buildings compared to 3,500 euros for old ones according to the last LPI-Seloger barometer of October.
33% difference on average therefore between new and old. But here again, there are considerable differences depending on the cities and supply and demand. The more the cities are considered tense, the more this gap narrows. And vice versa. In Paris, the new is “only” 14% more expensive than the old (12,438 euros in the new against 10,887 euros in the old). In Lyon, this difference rises to 17% (5,923 euros in the new against 5,029 euros in the old). In Bordeaux, this difference is only 2% (4,800 euros in the new, versus 4,695 euros in the old).
Incompressible costs and strong demand
Conversely, the differences are sometimes spectacular in the least tense cities. In Pau for example, the new is 85% more expensive than the old (3,234 euros in the new against 1,745 euros in the old). At Le Mans, there is almost 80% difference (3,225 euros versus 1,795 euros). The record is held by Mulhouse: the new costs more than twice as much there as the old (3,033 euros in the new, versus 1,412 euros per m2 on the market of the old).
How to explain it? In reality, developers can hardly fall below 3,000 euros per m² in new buildings. And this for many reasons. In the new, there are incompressible costs which do not fluctuate according to the territories. In addition, increasingly stringent standards are pushing prices up. There is also the high cost of land. And then, in recent months, the drop in the issuance of building permits by mayors has encouraged developers who are not making enough volumes to catch up on prices. All the more so when demand is high.
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