2023-10-10 16:59:03
The median price (half of properties are above, half below) per square meter, in Brest, in old apartments, was (in the second quarter of 2023) €2,080, an increase of 8.7%. over a year. For new apartments, it was €4,490, or +8.5%. The median price of a house was €230,000, an increase of 7.5% in one year. Only building land lost a little value, by 4.5%, for a median price of €67,500.
In the three sectors of Landerneau, the coast between Locmaria-Plouzané and Locquirec and the agglomeration of Brest, the only drop (slight, of 1%) concerned the square meter of old apartments in the coastal communes, at €3,050 . Everything else increased: by 3.6% (€3,300 per square meter in a new apartment, in the Brest metropolitan area) up to 18.4% (building land, again in the urban area, €77,500 ).
3 Much fewer sales in Finistère
If we look at the situation in a broader environment (Finistère) and in terms of volumes, number of goods sold, in the second quarter, we see that the four indicators were down, and significantly! 20% for old apartments and old houses, 26% for new apartments and almost 30% for building land.
Purchasing power is less important and sellers have understood that, if they want to sell, they must review their prices.
4 Small development by neighborhood in Brest
The district of Brest where the median price per square meter in old apartments was the lowest is Bellevue, with €1,600, still up 8.2%, almost in line with the Brest average (+8 .7%, at €2,080). Unsurprisingly, the rebuilt center is where it is highest, at €2,670 (+5%). It was the Keredern-Bergot district which experienced the largest increase, 10.7%, for a price of €2,250 per square meter. As for old houses, certain neighborhoods are missing from the statistics but one of them saw its prices fall, by 2.7%, the old center on the left bank, at €240,000 the median price. It was Lanredec-Kerinou which grew the most (+19.5%, to €245,000). The Saint-Marc-Guelmeur-Stang Alar sector being the most expensive, with €274,400.
5 “Prices are starting to adjust”
All of this, let’s remember, are the figures for the second quarter of 2023, from April to June. But the situation is changing quickly. “There is a clear drop in transaction volume. The market is correcting. Prices will have to fall,” notes Anne-Sophie Queinnec, notary in Brest. Moreover, “since the start of the school year, it has started. Purchasing power is less important and sellers have understood that, if they want to sell, they must review their prices. It’s no longer post-covid euphoria.”
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