Old Port, Quai des Martyrs, Citadel… Several sectors have seen their prices rise in recent years, against a backdrop of a sharp rise in real estate prices in Bastia. If the hypercentre is still very popular, the southern sector serves more and more as a transfer market for young workers.
It is a charming apartment-house of 180 square meters at the foot of the ramparts of the citadel. A charming space with solid parquet flooring and a Brando stone staircase, together with a garden and a garage, a stone’s throw from Place Vincetti. Price displayed in real estate agency: 945,000 euros.
A few years ago, the price per square meter of this apartment would probably not have exceeded the 5,000 euro mark. Here it is easily crossed. “For atypical properties, in very sought-after sectors, it happens that we approach 6,000 eurosobserves Anthony Allegrini, commercial agent of the Keymex real estate agency. Prices have risen sharply, especially in some areas where demand is strong.”
READ ALSO: Bastia: in the historic district of the Citadel, Airbnb has taken up residence there
Due to a very low supply of accommodation, most often resulting from the strong development of furnished tourist accommodation, the citadel of Bastia is one of these popular areas, where the price per square meter has soared. But when you look for the most expensive streets, this neighborhood-village on the outskirts of the city center does not top the list.
The Vieux-Port and the Quai des Martyrs take the lion’s share, alongside Place Saint-Nicolas, where renovated properties with an unobstructed view of the sea rarely sell for less than 4,800 euros per square meter, against a backdrop of rise in real estate prices in Bastia in recent years.
The beautiful transactions of the “golden square”
One figure would suffice to give the trend: 34%. According to the Meilleurs Agents site, which specializes in real estate appraisals, this is the average price increase in Bastia since 2018. That is an increase of around 7% per year.
The square meter generally ranges from 2,350 euros in the southern districts and for properties to renovate in the less popular areas, to 4,480 euros for comfortable accommodation in the most attractive areas. Everything converges to form an average price of 3,375 euros, again according to this analyst site.
READ ALSO: VIDEO. Bastia: the “Cézanne” residence will open up to social diversity
According to specialists in the sector, most of the “beautiful transactions” however focus on what remains the “golden square” of Bastia: from the courthouse to Avenue Maréchal-Sebastiani. In the bourgeois buildings of the hypercentre, boulevard Paoli or rue César-Campinchi, the rating has significantly increased. The properties, often few in number, find takers without delay and rare are those which sell for less than 3,800 euros per square meter on renovated surfaces equipped with a lift.
“Since the health crisis, sectors located on the outskirts of this “golden square” have also tended to increase in value.notes Paul Albertini, manager at the Era Immobilier agency. This is particularly the case of Boulevard Auguste-Gaudin, the streets around the Market and the Place d’Armes.
“The market is stabilizing”
Less popular, the southern sector essentially serves as a transfer market for young workers, including first-time buyers, who represent around a third of the clientele. Prices are more attractive there than in the city center but also tend to rise, especially in the most recent residences. Example: this 55 m² three-room apartment in the Macchione district, with lift, parking and terrace, displayed at 167,000 euros.
“We always have a very clear border between the city center and the southern districtsnotes however Paul Albertini. In Lupinu or Montesoru, properties attract less buyers. However, these sectors have also increased in value. At less than 2,000 euros per meter, you can’t find anything. Which was not the case a few years ago.”
READ ALSO: These price increases that plague Bastia households
With the rise in credit interest rates and inflation playing overtime, real estate specialists do not expect this price spike to continue for long. Demand has even started to dry up, according to the feelings of real estate agents. “The market is stabilizing, even falling, explain Anthony Allegrini. Last year, I signed between two and three compromises per month. This year, I rather turn around only one, and with difficulty. The number of buyers is lower, except for the most highly rated properties. There is a good chance that we will enter a period of price rationalization.”
#Rising #real #estate #prices #expensive #streets #Bastia
