Is Aubervilliers (Seine-Saint-Denis) about to become the new Montreuil? To see the few rehabilitations of factories or warehouses transformed into lofts with terraces and the meteoric rise in prices in the town over the past five years (+ 25.4% according to data from Meilleursagents), the question deserves to be asked .
“It is on this type of property that artists or CSP ++ have a crush. They do work and thus participate in the gentrification of the city., notes Dorothée Le Meur, director of the Espaces atypiques Paris Rive droite agency. Spectacular operations, which however remain few in number.
As everywhere in France, the real estate market in Aubervilliers is calming down after a year and a half of effervescence: “We have reached a kind of ceiling on the price of the old at 5,000 euros per square meter”, confides Ludovic Mahé, notary in the city. A threshold beyond which buyers do not risk themselves.
Today, negotiations are going well and sellers are forced to lower their expectations if they want to close the deal: “It’s difficult to explain to them that the situation has changed. That even if their neighbors sold a similar property at 5,000 euros/m² at the start of the year, they will not be able to get more than 4,000 to 4,500 euros/m² from it”laments Julie Rivet, head of the ORPI Actifs Invest Immobilier agency.
Gross profitability too good
The average price in the municipality is estimated at 4,368 euros/m² for apartments and 3,764 euros/m² for houses, according to data from Meilleursagents. Price disparities between neighborhoods are considerable: “At the level of the town hall or in the Popular Front district, prices are at their highest, at 4,500 euros/m², or even more. But near the Quatre-Chemins metro station, we oscillate between 3,000 and 4,000 euros/m² at most. This neighborhood has a lot of problems, with the camp for drug addicts near the Porte de la Villette. It is difficult to sell in this sector. Most customers are scared. As for the suburban part of Fort d’Aubervilliers, even if it is quieter, it is very far from public transport and shops. The average square meter there oscillates between 3,000 and 3,500 euros”says Julie Rivet.
Added for condominium buyers the state of the building. Especially if they intend to rent their accommodation at one time or another. “We are going to have a real problem with the energy performance diagnosis [DPE] in the community »worries Ludovic Mahé. “Prices are low in Aubervilliers, but many condominiums will need heavy investment to meet energy standards. However, the owners who live there do not have the means to do this work and properties risk leaving the rental stock.he adds.
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