Where and how to invest in Greater Paris?

Greater Paris will profoundly change the face of Île-de-France. The project was announced in 2007 by the President of the Republic Nicolas Sarkozy. We can now observe its implementation and the multiplication of building sites and/or extensions. Is there still time to invest to take advantage of the many opportunities offered by this project? Where and how to invest?

Summary:

• Greater Paris: a major development project
  

• An extensive transport network and increased housing supply
  

• The Greater Metropolis of Paris presents many investment opportunities
  

• The Grand Paris Express is ideal for your long-term projects
  

• What are the attractive cities of Greater Paris?
  

Greater Paris: a major development project

Greater Paris is “an urban, social and economic project of national interest” aimed at promoting “sustainable, inclusive and job-creating economic development in the capital region”. This overall development project aims to pool all the resources of the territory. Therefore, it brings together important issues such as the modernization and development of the transport network, the construction of new housing, the development of economic activity and the energy transition.

The creation of Greater Paris was led by Christian Blanc, Secretary of State for Development of the Capital Region in 2008. After several years of consultation between the State, the Île-de-France region, local authorities and citizens, the Greater Paris metropolis was created on January 1, 2016. This intercommunity brings together the city of Paris, 123 communes of the three departments of the inner suburbs (Hauts-de-Seine, Seine-Saint-Denis, Val-de-Marne) and seven common in the outer suburbs: Athis-Mons, Juvisy-sur-Orge, Morangis, Paray-Vieille-Poste, Savigny-sur-Orge, Viry-Châtillon (Essonne) and Argenteuil (Val-d’Oise). Greater Paris has 7 million inhabitants, for a total area of ​​814 square kilometres, ie eight times the area of ​​the capital.

An extensive transport network and increased housing supply

The main axis of development of Greater Paris concerns the transport network. 8.5 million inhabitants of Île-de-France use public transport every day, for an average duration of 1 hour and 20 minutes. To respond to the increase in traffic (+21% in 10 years) and the saturation of some lines, such as RER A and B or line 13, the construction of four new fully automatic underground lines is planned (lines 15, 16, 17 and 18). In addition, the existing line 14 will be expanded.

In total, 200 kilometers of tracks and 68 new stations will emerge from the underground, 80% of which are correspondence stations. Today, the metro and RER form a star-shaped network around Paris. The objective of the Grand Paris Express (GPE) is to allow residents of Ile-de-France to move from one suburb to another without having to go through the capital. This project is becoming a reality as the various projects progress. The first commissioning will take place in 2023 and will last until 2030. Civil engineering work started in July 2016 on the southern section of line 15. By the end of summer 2022, more than 80 kilometers of tunnels had been excavated.

The creation of the Grand Paris Express is expected to open up some underserved areas and increase the supply of accommodation in Île-de-France. The project involves the construction of 70,000 new homes a year for 25 years, of which 30% will be

Social housing

. These new buildings will be concentrated around the 68 future stations. New neighborhoods combining apartments, shops and offices will be created or renovated.

The Greater Metropolis of Paris presents many investment opportunities

The first Metro and RER stations will be put into service between 2023 and 2024. As soon as these projects have been formalised, property prices have started to rise in the vicinity of future closures. Is it already too late to invest in these neighborhoods?

The construction of the Grand Paris Express has been delayed due to technical and financial problems, but also due to the health crisis. Changes to the initial program are expected. Four of the five sections of the GPE were due to be completed by the 2024 Olympics. However, only two of them will be finalized on time:

• The extension of line 14 will go from Saint-Denis-Pleyel to Orly airport.

• Line 16 will run between Clichy-Montfermeil and Le Bourget-RER.

Line 15 between Pont de Sèvres and Noisy-Champs should be operational in 2025. The commissioning of line 18 (from Orly airport to Versailles-Chantiers), which notably serves the research centers on the Saclay plateau, it is to be staggered between 2027 and 2030. Finally, line 17 linking Saint-Denis-Pleyel to Mesnil-Amelot (Roissy airport) will be operational in 2030.

Greater Paris represents 18 million square kilometers of land development opportunities, with 60% of built-up areas near stations. In terms of prices, the municipalities crossed by future metro lines are experiencing high real estate inflation, as evidenced by the study unveiled by the Notaries of Greater Paris in March 2022. However, prices are still affordable. Given the scale of the project, both geographically and over time, it is not too late to take advantage of this momentum and benefit from great opportunities.

The Grand Paris Express is ideal for your long-term projects

Thanks to the Greater Paris project, some municipalities in the capital region have seen an increase in their attractiveness. To guide your investment choice, please refer to the GPE delivery schedule and plan for future lines. Visualize the great interconnections. Ideally, it is advisable to aim for accommodation close to future stations, with a maximum distance of 800 metres. Also observe trends in the real estate market. The MeilleursAgents site allows you to follow the evolution of prices and the amount of rentals around the Grand Paris Express stations.

Furthermore, as the project is finalized in 2030, all investments will not be profitable in the foreseeable future. By orienting your search with respect to the calendar, you can do this

measure the potential profitability of your property

particularly in the context of a

rental investment

. If it comes to investing in homes to make them your main home and if you have the time, the areas whose delivery is scheduled for 2027-2030 are more economically accessible.

What are the attractive cities of Greater Paris?

One of the goals of the Grand Paris Express is to open up areas that were not easily accessible by transport and where prices were low. For the inhabitants of these neighborhoods, the goal is to be able to reach the heart of Paris in less than 30 minutes. In the inner suburbs, investment opportunities are less attractive as prices are already relatively high.

The north, north-east and east of Île-de-France offer good prospects. In particular cities such as La Courneuve, Villetaneuse, Saint-Ouen, Le Bourget, Aubervilliers, Gennevilliers or Villiers-sur-Marne, whose attractiveness is growing. Saint-Denis, already partially rehabilitated, sees its rating rise as the Paris 2024 Olympic Games approach. It is one of the municipalities for which the Grand Paris Express project is the most profitable. The location, in fact, is strategic and makes it a real crossroads. Indeed, Saint-Denis-Pleyel station will host metro lines 14, 15, 16 and 17, as well as line 13 and the RER D.

You can also take a close look at cities already connected by public transport and about to benefit from additional connections. This is the case of Villejuif (M7), Bobigny (M5), Champigny-sur-Marne (RER A), Bagneux (M4) or Clamart (T6). If your investment project is maturing, pay attention to the Saclay plateau, which is both an economic center, a university campus, an innovation and research center. This makes for very vibrant territory for the future. The nearby towns of Orsay (RER B), Massy, ​​​​​​Palaiseau (RER B and C), Bures or Gif-sur-Yvette should also attract your attention.