Established in Nancy for almost a year for professional reasons, Philippe, an executive profile, is looking for an apartment with parquet floors, moldings and fireplaces. He limited his prospecting to two of the most highly rated districts of the city of the dukes: Sainte-Marie park and faubourg des Trois-Maisons. In early September, after a visit, he fell for a 90 m² pampered and renovated, displayed at € 275,000. He gives himself the evening to reflect. The next day, he is ready to make an offer at the price. But it is already too late. In one afternoon, the good was taken away from him. And not at € 275,000, but at € 280,000. “A client has outbid …”, announced the owner. Christophe, who was already amazed at the speed with which sales were handled, was dumbfounded.
For the past three years, the Nancy property market has thus been spared the gloomy environment, as if carried by continuous updrafts. Levitating. Almost overheated. Grégory Pierre, co-manager of Century 21 Joël Pierre Immobilier Nancy, notes: “This is another exceptional year. Since 2015, Nancy real estate has been doing very very well. For us, this translates into + 10% to + 15% growth each year. It’s crazy ! The same results for Guy Hocquet Nancy. “People increasingly believe in stone,” observes Jean-Baptiste Dubois, manager. We are finishing a record year. With low rates, buyers no longer hesitate. The same goes for Stéphane Plaza Immobilier. “We find first-time buyers, notes Charles Didier. There is an influx of buyers into the market. Our transaction volumes have increased considerably. ”
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A market in tension
“In the old one, we’re on a 10% increase in sales. We are pretty well oriented. But a difficulty appears. We are starting to have trouble meeting demand. The number of buyers is 16% higher than the number of goods available for sale. The first three quarters were extremely dynamic. The portfolios have generally emptied, “explains Lionel Gonzales, co-founder of the real estate agency Place privé.
The most coveted goods are the F2 and F3 and the town house from 80 to 100 m² with garden. “There is a real shortage in this typicity,” says Lionel Gonzales. According to the latest economic outlook from the Chamber of Notaries of Meurthe-et-Moselle covering the period from 1er September 2018 to August 31, 2019, the metropolis Grand Nancy would experience a 3% increase in apartment prices and 2% house prices. There are obviously disparities in the prices per square meter according to neighborhoods, even streets.
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Without hesitation
Gentrified, the “old town”, with its “village” spirit, remains the most popular area. Its puny offer drives prices up. They are among the highest in Nancy. Near the Porte de la Craffe, rue Braconnot, the square meter is traded, for example, around € 2,140, according to the online appraisal website bestagents.com. Another listed sector, the station district (Poincaré-Anatole-France). The number of transactions there was the highest this year with prices fluctuating between € 1,117 and € 2,545 / m² (median price (source notaries): € 1,830 / m²). This is followed by the Faubourg des Trois-Maisons and the Saint-Fiacre sector (median price per square meter: € 2,000).
The combination of several factors – historically low rate (1.13% on average in October, 0.90% over 15 years, according to CSA Housing Credit Observatory ), sluggish savings performance and fear of another financial crisis – stimulates real estate. Once again the safe haven par excellence, it attracts both young households and investors with cash and seeking to secure their investments. For this specific clientele, Nancy, with its 50,000 students and its university hospital center, also benefits from robust attractions. Also increasing, rental investment represented nearly 25% of sales this year. Unless there is a cataclysm, 2020 should stay on the same path.
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