One hour by train from Paris, Le Mans enjoys a privileged location in the heart of the Sarthe countryside. The neighborhoods of houses being numerous in the city, it attracted, just after the confinement, a crowd of city dwellers in search of greenery and space. Investors who wanted to take advantage of a dynamic rental market and a return close to 7% also came flooding in.
This wave of buyers pushed prices up suddenly and dramatically. “We experienced a real frenzy for a year and a half, everything sold out in a few days at high prices that were not necessarily consistent with the quality of the property or the neighborhood”, sighs Stéphane Vachot, director of the Re/Max-Carré Mans agencies.
But, since November 2022, the situation has reversed, “the sharp rise in interest rates coupled with high prices has limited the budget of buyers”, notes Marielle Maufrais, manager of 72 Immobilier. Buyers are now very cautious and negotiating, so the price bubble is deflating. Concern ? Many owners refuse to lower their claims, which paralyzes the market.
17th century listed buildingse and XVIIIe centuries
The expanded city center, between the station and the Place de la République, is a heterogeneous mix of constructions: buildings from the end of the 19the century, from the beginning of the XXe and residences from the 1960s and 1970s. In good condition, with an elevator and good energy performance, the apartments sell for between 2,000 euros and 2,200 euros per square meter. But, “if they are to be renovated or with heavy collective charges, the price plummets to around 1,700 euros per square meter”assures Stéphane Vachot.
The only exception: old Mans and its old streets, where the listed buildings from the 17the and XVIIIe centuries are trading at over 3,000 euros per square meter, if they have retained all their cachet.
In the first ring of this large center, at Maillets, Bollée and in the area of the south station, or on the other bank of the Sarthe at Chasse-Royale and Saint-Pavin, the mancelles – traditional houses of the city – are many. The smallest, between 60 and 80 square meters, sell for around 3,000 euros per square meter, while the largest – 120 square meters –, with a garden and in good condition, are between 350,000 and 380,000 euros. . Otherwise, prices drop between 2,600 and 2,800 euros per square meter.
The city also has many pavilions from the 1950s to the 1960s, called “Leroy-Haricot”, named after their builder. They trade at 2,000 euros per square meter on average when they are to be refreshed, and rather between 2,200 and 2,400 euros per square meter if they are in perfect condition. This ceiling is only reached for those who have a garage and live in the immediate vicinity of the hypercentre. “In our city, around 80% of the houses sell for between 180,000 and 250,000 euros”says Marielle Maufrais.
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