2023-05-12 08:57:00
Our report on real estate prices in May
Known for its economic activity, La Défense, frequented by some 180,000 employees, is also a neighborhood where people live. This 564-hectare territory straddling Courbevoie, Nanterre and Puteaux has nearly 42,000 inhabitants for around 12,000 homes. With buildings from the 1970s on the Puteaux side, and more recent constructions on the Nanterre side, with the Terrasses district.
Enough to constitute a real estate market in its own right, but which has been “slowing down in recent months”, notes Hugues de Castellane, general manager of the Action West Gestion Immobilière agency in Paris La Défense.
“Since the start of the school year, prices have fallen by around 10% and, as a result, potential sellers prefer to wait and withdraw their goods from the market. As for buyers, with the rise in interest rates – from 1 to 4% in one year – they favor smaller areas. »
In the popular district of Faubourg-de-l’Arche, located on the Courbevoie side below the Léonard-de-Vinci university centre, the “rooftop villas” no longer find takers. They are displayed at 1.5 million euros for a 150 m2 with several terraces. “At this price, they no longer leave, it is rather necessary to count 8,000 euros per square meter to finalize a transaction”, estimates the real estate agent, who has just sold a four-five room apartment of 100 m2 for 710,000 euros , in line with the prices displayed in the sector.
Less expensive Nanterre apartments
For similar surfaces, several are offered between 750,000 and 800,000 euros. “The many shops, including a Monoprix and a Picard, make it possible to create a real neighborhood life, with in addition a very close proximity to the slab and transport to be in the center of Paris in 15 minutes”, justifies the real estate agent, while 80% of the inhabitants also work in La Défense.
Thus, prices in Faubourg-de-l’Arche are above those practiced on average in Courbevoie, according to data from Meilleurs Agents. It takes 7,032 euros per square meter for an apartment, a drop of 0.9% in one month, 2.2% over three months and 5.1% in one year.
To find a less expensive apartment, it is better to move towards Nanterre, in the recent district of Les Terrasses, located near the RER Nanterre-Préfecture. With “two pitfalls”, according to the real estate agent. “Nanterre-Préfecture is obviously less of a dream, even if the apartments also have large volumes and terraces. And the proximity of La Défense Arena and the tens of thousands of people who come for each event make buyers a little reluctant, ”he believes.
However, some offers show very high prices, as in the The One building, delivered in 2017 in the Jardins-de-l’Arche, that is to say right between the Grande Arche and La Défense Arena. Located on the 8th floor, a four-room apartment is currently offered at 8,331 euros per square meter. This is well above the average price in Nanterre, which is currently 5,819 euros for an apartment, down 0.8%. An exception, since at the other end of Boulevard des Bouvets, the price of apartments fluctuates between 5,500 and 7,000 euros per square meter.
Higher, more expensive
The particularity of the real estate market in La Défense is this large price difference between cities, buildings and sometimes even floors within the same residence. As proof, the Défense 2000 tower, located on the Puteaux side. It is one of the tallest residential towers in France, built in the 1970s and culminating at 134 m. It is made up of 370 apartments on 47 floors, where around a thousand people live.
Here, the higher you go, the higher the price rises: on the 18th floor, a 77 m² apartment is listed at 470,000 euros (6,104 euros/m²) while the same area is offered at 630,000 euros on the 32nd floor (8,132 euros/m²). According to the latest figures from Meilleurs Agents, the average price per square meter for an apartment in Puteaux is between the two, at 7,684 euros. In Puteaux, as in the whole sector, the trend is downward.
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