Leaving big cities to buy real estate with more space and a garden could be the real estate trend of the year. A trend accelerated by telework which affected several million employees during confinement. An unprecedented period that gave desires for space and greenery to individuals who were able to review their criteria during confinement, especially those who live in Paris, a city where these criteria are often worth gold. Since the deconfinement, the buyers seem to be moving towards cities at the gates of Paris in order to be able to benefit from an exterior while remaining within their budget.
Living in the Parisian suburbs to have more space
The search criteria have been changed for many buyers due to confinement. Boom in teleworking, awareness of the need for space or outside space, budget revision … all of which can drive residents of Ile-de-France to widen their search area for purchases in small or large crowns.
The impact of telework on real estate
“Containment has had an impact on buyers’ projects. More people are considering the suburbs. The sustainable development of telework has accelerated certain projects. Companies have been able to realize that telework works and that employees are sometimes more productive from home. We have gained 5 years of maturity in telework, which will have an impact on property searches. Going to the office two or three times a week will become more common. With a less complicated commute to get to work and a better quality of life, it is possible to buy an extra room with the same budget and sometimes even the possibility of working from your garden “, Note Éric Chatry, co-founder of I dream of a house, a real estate hunters service.
Increasingly higher prices in Paris
The very high prices in Paris do not allow everyone to become a homeowner there, even with low property rates. While some prefer to stay there, others are seriously considering buying in the suburbs. “I am currently a tenant in the Saint-Georges district which I really like. Since the end of confinement, I plan to buy a property before property rates go up too much and above all to change my life. But prices in Paris will not allow me to have a sufficient surface. I therefore opted for towns in the inner suburbs such as Asnières-sur-Seine, Boulogne-Billancourt or Clichy “, confides Luc, a thirty-something who works in marketing.
A house in the suburbs for the price of a Parisian apartment
“It is possible to find a house for the price of a Parisian apartment in cities near the capital, for example in Bois-Colombes, La-Garenne-Colombes or Suresnes, Saint-Maur-des-Fossés and Nogent -sur-Marne “, adds Éric Chatry. “20% of our customers are looking for in the immediate vicinity and 90% of them are looking for a family home with a garden about ten minutes’ walk from a train station connecting Paris with sustained demand in around Rueil-Malmaison, Saint-Cloud or Saint-Germain-en-Layes “, he continues.
- The average price in Paris amounts to 10,460 euros / m2 according to the Notaries of Greater Paris *, with an increase of 32.2% over 5 years.
Cities where to buy in Ile-de-France
No need to look very far for green spaces and lower prices than in Paris. Ile-de-France has lower prices than in the City of Light, which allows buyers to find accommodation in a property with a larger area. In addition to the price, the choice of location, proximity to public transport or a road, but also the potential of the district remain the rule to properly prepare a purchase. “Taking as a reference the average of 10,000 euros per square meter for intramural Paris, it is certain that there are cities easily accessible by transport or car where buyers can, at equivalent budget, spend a simple apartment in a family house. We are thinking particularly of Bondy in the 93 which is around 2,800 euros per square meter and only about twenty minutes from the center of Paris or Champigny-sur-Marne at 3,500 euros per meter on average and about twenty minutes from Paris “, analysis Rodolphe Elmaleh, Head of sales at Proprioo.
The list of cities where to buy is non-exhaustive and many criteria must be crossed depending on the case (the sectorization of schools, the distance to work, the amount of local taxes, etc.). In addition, price differences can be significant from one city to another but also from one type of property to another depending on its rarity in the sector and the level of demand.
Cities where to buy in the Yvelines (78)
This department of the greater crown has many cities that reach Paris in less than 20 minutes with average prices often below 5000 euros / m2.
“We note a strong demand on goods with exterior, the buyers are more demanding on this criterion since the confinement. They are also looking for a beautiful exposure, brightness, a terrace rather than a balcony … in short , a more spacious exterior worthy of the name. The houses are in great demand, generally over the entire loop of the Seine (Chatou, Le Vésinet, Houilles, Sartrouville, Croissy-sur-Seine, Carrières-sur-Seine and Montesson) direct proximity to Paris, thanks to public transport and the Greater Paris project. The RER A and the Transilien (lines L and J) already serve these cities but the RER E will arrive in a few years, which will further strengthen the attractiveness of this area at the gates of Paris, namely about 15 minutes from Saint-Lazare train station and 10 minutes from La Défense with green spaces, and above all, important point for parents, good schools “, highlighted Arnaud Reignier, Head of Antarès Immobilier real estate agency at Quarries-on-Seine.
- The average price in the Yvelines is 3,930 euros / m2 according to the Notaries of Greater Paris *, up 8.1% over 5 years.
Cities where to buy in Hauts-de-Seine (92)
Buy in Hauts-de-Seine in small crown. If property prices are sometimes as expensive as in Paris such as in Neuilly-sur-Seine or Levallois-Perret (respectively 10,500 euros / m2 and 9,770 euros / m2) other sectors are developing and attracting more and more buyers.
This is the case of Asnières-sur-Seine where the average price is up 28% over 5 years with an average of 6,290 euros / m2 according to the notaries of Greater Paris but also of cities like Rueil-Malmaison, Clamart , Antony or Meudon where property prices are below 6,000 euros / m2 on average.
- The average price in the Hauts-de-Seine is 6,190 euros / m2 according to the Notaries of Greater Paris *, up 19.6% over 5 years.
Cities where to buy in Seine-Saint-Denis (93)
Greater Paris should energize this department of the inner suburbs. Many developments are underway and the landscape of Seine-Saint-Denis is gradually redrawn. And property prices are still very attractive there for an area on the outskirts of Paris served by the metro.
This is the case for Saint-Denis accessible by line 13 with an average price of 3,650 euros / m2 (+ 18.7% over 5 years) or even Pantin (line 5) with an average price of 5,500 euros / m2 (+ 31.6% over 5 years).
Other municipalities have attracted and have seen their prices rise sharply in recent years. This is the case of Montreuil (6,140 euros / m2 up 38.6% over 5 years) and Saint-Ouen (6,060 euros / m2 up 51.3% over 5 years).
- The average price in Seine-Saint-Denis is 3,730 euros / m2 according to the Notaries of Greater Paris *, up 18.7% over 5 years.
Cities where to buy in Seine-et-Marne (77)
In Seine-et-Marne, property prices display affordable averages with space and a connection to Paris in around thirty minutes.
This is the case, for example, of Melun (2,230 euros / m2 on average where prices drop by 9% in 5 years) accessible by the Gare de Lyon, Torcy accessible by the RER A or the Gare de l’Est ( 2,830 euros / m2 where prices increased by 3.2% in 5 years) or from Chelles accessible by Line P and RER E (2,830 euros / m2 on average with an increase of 8.6% in 5 years ).
- The average price in Seine-et-Marne is 2,700 euros / m2 according to the Notaries of Greater Paris *, up 5.3% over 5 years.
Cities where to buy in Essonne (91)
In less than thirty minutes, the municipalities of Essonne allow you to go green. Massy, accessible by RER B, has also seen its prices increase by 16.7% over 5 years with an average of 3,460 euros / m2. This city has a TGV station and many cultural infrastructures. Its neighbor, Palaiseau, has posted prices up 14.2% over 5 years with an average of 3,470 euros / m2.
- The average price in Essonne is 2,710 euros / m2 according to the Notaries of Greater Paris *, up 5.6% over 5 years.
Towns where to buy in Val d’Oise (95)
Further north of Paris, Val d’Oise is a department of the greater crown which is not so far from Paris by transport. Cormeilles-en-Parisis (RER A and Line J) shows an average of 3,730 euros / m2 up 12% over 5 years and Argenteuil (Line J) a price of 2,880 euros / m2 up +9.6 % in 5 years. These two cities reach Paris in less than 20 minutes.
- The average price in the Val d’Oise is 2790 euros / m2 according to the Notaries of Greater Paris *, up 6.2% over 5 years.
Towns where to buy in Val-de-Marne (94)
Department of the inner suburbs, Val-de-Marne has many advantages. Its proximity to Paris but also its public transport network. If in this department, Vincennes and Saint-Mandé display prices higher than the average (more than 8,000 euros / m2 with an increase of 20% over 5 years), other cities connect Paris less than 20 minutes.
This is the case of Créteil (3,400 euros / m2 up 23.6% in 5 years), Vitry-sur-Seine (3,660 euros / m2 up 13.2% in 5 years), Saint- Maur-des-Fossés (5,210 euros / m2 up 19.1%) and Nogent-sur-Marne (6,000 euros / m2 up 18.7% in 5 years).
- The average price in Val-de-Marne is 4,770 euros / m2 according to the Notaries of Greater Paris *, up 16.2% over 5 years.
Significant price variations in Ile-de-France
Overall, real estate prices are increasing in Ile-de-France, driven by Parisian prices and neighboring municipalities, and have increased by more than 22% in 5 years according to the Notaries of Greater Paris *. The average price in the region is 6,430 euros / m2.
Significant variations are therefore observed within this region. The Greater Paris project is already having an impact on prices, which are rising rapidly in the cities that will host a new station or an additional tram or metro stop. There remains for buyers the choice between these different cities according to the criteria that characterize their project and especially their budget …
* Source: Greater Paris Notaries’ data on transactions at the end of March 2020.
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