Unlike some localities in mainland France, the drop in prices is expected in Saint-Malo (Ille-et-Vilaine). Admittedly, buyers are asking a few more questions, according to the real estate agencies on site, but demand is still just as strong and properties for sale are rare.
The Saint-Malo city with its ramparts and its eleven beaches always attracts. “Saint-Malo has been successful for several years, especially since the arrival of the TGV, but the health crisis has accelerated the process. We are in a market with a shortage of goods for sale”, testifies Christophe Martin, director of Sotheby’s International Realty for the Emerald Coast. As a result, prices are up: + 13.2% between December 31, 2021 and December 31, 2022, according to Breton notaries.
The increase in the price of houses was more reasonable in 2022 (+2.4%), but they are rare for sale and exceed the million euros if they are close to the shore. With a sea view, their cost can reach several million. “The numbers sometimes make you dizzy. I can cite the case of this beautiful typical malouinière [les anciennes maisons de plaisance des armateurs] with a view of the Rance which recently sold for 18 million euros”reports M.e Pierre-Luc Vogel, notary in Saint-Malo.
The area most in demand is located near the beach of Le Havre-de-Rothéneuf, in the north of the city, where the entry ticket for a family home is over 800,000 euros. It takes 250,000 euros for a 30 square meter apartment with renovation work to be done.
Another sector in high demand is that of Rochebonne, a little south of Le Havre-de-Rothéneuf. It is necessary to count between 6,000 and 9,000 euros per square meter, i.e. prices equivalent to those of the Paris conurbation. The same goes for Courtoisville, a district near the Sillon beach, where prices are around 9,000 euros per square meter. Even with work, there are currently no properties for sale for less than one million euros.
Low rental profitability
To find slightly more affordable prices, you have to move away from the coast and head towards Paramé, a district located at the back of Rochebonne beach. Some new programs are offered for sale there, particularly near the station. It takes a little over 5,000 euros per square meter. “I also recommend the Clos-Cadot sector or the Avenue des Cottages”, suggests Stéphane Montignon, manager of the Stéphane Plaza agency in Saint-Malo. Prices there are respectively around 5,000 to 6,000 euros per square meter.
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