Located south-west of Paris, Issy-les-Moulineaux, in the Hauts-de-Seine, has long been a transfer market for young workers and families who cannot find their real estate happiness in the 15th century.e neighboring district. At the peak of the market, apartments could be negotiated there beyond 10,000 euros per square meter.
But these tariffs are ancient history. “Since July 2022, the euphoria has subsided and the atmosphere is very calm, as there are far fewer buyers”, notes Frank Bée, director of Century 21 Immod’Issy. The slowdown is particularly marked for three-room apartments and more, which are numerous in the city.
“Many buyers wait for price reductions, visit and do not decide, unless the accommodation is offered at a price consistent with the real estate situation”, confides Eric Brémaud, director of Nestenn Issy-les-Moulineaux. Over the last twelve months, prices have fallen by 4.5% on average, according to MeilleursAgents. But this figure only concerns homes that… sell: those that are in good condition, well placed and in a nice condominium.
The others, in particular properties to be energy-renovated, are more and more numerous to clutter the windows of real estate agencies. “Their owners have not understood that to sell, you need a real downward adjustment”sighs Mr. Brémaud. Too bad, because when they agree to review their claims, their accommodation finds takers.
The Fort d’Issy eco-district
The surroundings of the two stations of line 12 of the metro remain the most popular areas, because they concentrate the shops. There are all types of housing, from the studio to the family apartment, and constructions, from the brick building of the beginning of the XXe century to the residence of the 2000s. In this sector, apartments without defects and in good condition continue to sell for 8,000 to 10,000 euros per square meter. Like this 33 square meter two-room apartment, bright, quiet, in perfect condition and a stone’s throw from the town hall, bought for 310,000 euros with a cellar (9,400 euros per square meter).
Conversely, properties with a poor energy performance diagnosis are detrimental. Such as this three-room apartment of 49 square meters just next to the previous one, sold at the same price, i.e. 6,300 euros per square meter, because it is entirely in need of renovation and in a charmless condominium from the 1960s. “The price gaps between goods, which had narrowed a lot, are increasing”, notes Mr. Bée. In addition to the city center, recent housing on the Ile Saint-Germain is part of the listed sectors: they are negotiated at the same price, but this micromarket records few transactions.
You have 35.55% of this article left to read. The following is for subscribers only.