In Rosny-sous-Bois, the extension of the metro has bewitched the real estate market

In Rosny-sous-Bois (Seine-Saint-Denis), a few kilometers east of Paris, a major change is expected at the end of 2023 or the beginning of 2024. The city must take advantage of the extension of line 11 of the Ile-de-France metro, with no less than three resorts on its territory – La Dhuys, Coteaux-Beauclair and Rosny-Bois-Perrier. From the latter, we will then reach the center of the capital, Châtelet-les-Halles, directly, in about 25 minutes.

The impact can already be seen in real estate prices, which have increased by nearly 25% in five years, according to Meilleurs Agents. In addition to the “metro” phenomenon, Rosny is taking advantage of the fact that, for investors, several towns bordering the department, such as Montreuil, Noisy-le-Sec or Romainville, have lost their attractiveness since the introduction of the end-of-rent rent control system. 2021. With an average gross rental return which remains attractive despite the rise in prices: 5.2% for a T2 according to Meilleurs Agents (average rent per square meter for this type of property, 18 euros).

For buyers looking for accommodation, townhouses – rare on the market – remain the priority. “A residential area located in the center attracts families. An 80 square meter house with a 350 square meter garden sells for around 459,000 euros”notes Christophe Ribeiro, director of an ERA agency in the city.

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On average, the square meter sells for 4,133 euros for an apartment and 4,377 euros for a house, according to Meilleurs Agents. But the prices differ a lot according to the districts. Boissière and Bois-Perrier, where the metro will arrive, are below average (respectively 3,842 euros and 3,496 euros, all goods combined), when you can reach 4,563 euros in the center.

Green building

“However, prices are rising quickly in the future metro districts”, observes Franck Bozon, of the Laforêt agency in Aulnay-sous-Bois. “In Boissière, a mixed territory with a lot of social housing, a T3 did not sell above 160,000 euros six years ago. Today, you have to pay 200,000 euros, we even reached records at 230,000 euros in June 2021.”

However, the rise in prices for old properties has slowed down over the past year (+1% over one year). In recent months, a small decrease has even been observed. “The sale of energy strainers penalizes the market. If a home is rated F or G, investors no longer want it, even at a discount”testifies Mr. Ribeiro.

He cites an example: “I have for sale for three months a T3 of 55 square meters in a building classified F, originally offered at 229,000 euros, reduced by 20,000 euros. A year ago, it would have sold within a month. It is still on the market. » The decline he observes in prices is also explained in his view by the difficulties of access to credit caused by the rate of wear, that is to say the ceiling on loan rates.

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