For several days, real estate sector officials have been sounding the alarm all over France: the lights are red, especially in new construction where apartment sales fell by nearly 25% last year. . Inflation and increasingly difficult access to credit are singled out. And the decline in prices in the old continues in many French cities, such as Paris, Lyon or Nantes.
A gloomy picture from which the Pink City seems to have escaped in part for the moment. Whether the Observer of Toulouse real estatewhich examines the new market in the urban area, believes that it is doing better than other French cities, it has recorded a “significant decline in retail sales”, with 4,600 homes sold against 6,030 in 2021, i.e. a decrease of approximately 24% “mainly explained by refusals of financing illustrated by a cancellation rate of 21% over the year”.
On the side of the interdepartmental chamber of notaries, who finalize the transactions, the volume was even rather on the rise last year with 37,000 transactions recorded in the Haute-Garonne department (+ 1.8% compared to 2021) from building land, to old and new housing.
The curves are flattening in Toulouse
On the old apartment market, the median price in the department is now 2,900 euros per m2, against 2,810 euros last year. In the municipality of Toulouse, it is 3,250 euros, up 1.4% in 2022.
“We have reached a threshold and price curves which are flattening in Toulouse”, recognizes Frédéric Giral, the president of the Interdepartmental Chamber of Notaries who presented this week the results of the year 2022, ahead of the real estate fair which is held until this Sunday.
Apart from the Carmes (+6.8%) where there are quite a few small dwellings resold quite expensive, the other districts at more than 5,000 euros per m2 are marking time in the rise in prices. Other districts at more than 3,500 euros continue to see their rating still rising, such as Le Busca (+ 7.1%) or Arnaud-Bernard (+ 6.9%).
Work on the future line C of the metro is starting almost everywhere in Toulouse, before delivery in 2028. For the time being, the districts crossed do not register a leverage effect on real estate prices. Whether at Côte Pavée (3,710 euros per m2), down 2.2%, at Sept-Deniers, at Minimes (+2.9%) or even at Bonnefoy (+3.4%), specialists n are not yet registering double-digit increases as was the case on the route of line B before its completion.
In the more popular districts and at less than 2,500 euros per m2, notaries note “a catch-up in prices” in particular at Reynerie (+ 11.4%), La Faourette (+ 11.1%), Bellefontaine (+ 9, 7%) or Les Pradettes (+ 8.6%) which have been the subject of renovation programs in recent years or even construction a few years ago.
