With the same borrowing capacity, a buyer can now afford 19 sq m less in Nîmes compared to 2019. This is the result of a survey by Meilleurtaux.com, a real estate broker.
A decline in real estate purchasing power, which is partly explained by soaring rates. “The European Central Bank raised rates drastically to curb inflationexplains Sébastien Doudoux, director of Meilleurtaux.com in Nîmes. And some banks keep telling us it’s not high enough and that they stop lending because of it.“
A mania for Nîmes after giving birth
The mania for “medium cities” after the various confinements is another reason. According to Sébastien Doudoux, the emergence “teleworking and the fact that Nîmes is 2h50 from Paris by train“helped. In Nîmes prices increased and stabilized”,There are strong demand and the offer isn’t necessarily there.“
However, the director of the Nîmes agency believes that “rates are still attractive considering inflation“. In his opinion, “3% over 20 or 25 years is still broadly acceptable.“Sébastien Doudoux foresees major difficulties on the new internal market of Nîmes in the first half of 2023, with very high prices.
