In Metz (Moselle), the euphoria continues after two exceptional years for the real estate market: “The prices of houses and apartments with exteriors in the most popular areas of the municipality have increased by 15% to 18% in two years”, is surprised François Grimont, manager of an ORPI agency in Metz. And this despite an average square meter estimated at 2,078 euros in the city, according to data from Meilleursagents.
But the beautiful apartments of 105 square meters in Metz-Queuleu with 50 square meters of terrace, sold for 320,000 euros in less than a week, are no longer exceptions. Just like flawless houses, which trade above 400,000 euros, or even 1 million for exceptional properties.
Metz real estate is regaining the attractiveness it lost when its military air base closed in 2012: “We lost thousands of jobs during that time, and real estate prices fell. The average square meter was between 1,700 euros and 2,000 euros. Today, for the most sought-after properties, we will be around 3,000 to 3,200 euros per square meter”adds the real estate agent.
Metamorphosis
The military have since been replaced by border workers. The city, located just an hour and ten by car from Luxembourg, has seen a large number of executives ready to commute since the start of the pandemic: “Prices are so high in Luxembourg that, with the rise of teleworking, many finance employees prefer to buy in Metz to have a larger area. Their purchasing power is much higher than that of the rest of the population, and they are the ones who contribute to the rise in prices”indicates Mand Philippe Krummenacker, associate notary in Metz.
Especially since the town has changed. In 2012, a series of works was launched to maintain the architectural heritage of Metz, with its forty-one listed monuments and fifty-eight monuments listed in the inventory of historical monuments.
Many major projects have been undertaken, such as Imperial Heart, a 100 million euro project on the site of the former Bon-Secours hospital, where there are now 450 housing units. The Coteaux de la Seille eco-district is being built and the Amphitheater district becomes the modern face of Metz, with the inauguration of the Center Pompidou-Metz.
The Lizé eco-district, in Montigny-lès-Metz, on the outskirts of the city, whose first housing units will be delivered in 2022, should meanwhile expand in the years to come. “what will attract investors”observes Olivier Martzel, president of the real estate development group Terralia. “The prices of new buildings in Metz are 4,000 euros per square meter on average, and most programs are eligible for the Pinel system”he says.
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