With the city-center crisis, real estate prices are starting to drop

DECRYPTION – Landlords who can offer new or renovated buildings should do well.

Sooner or later, the city-center crisis is reflected in real estate. The large metropolises are no exception, starting with Paris. In the capital, even housing, the most resilient real estate asset, is starting to be affected. The collapse in the number of transactions in 2019 shows the extent of the crisis: – 35% over one year, according to Century21. The price per square meter has reached a high point and is starting to decline. According to indicators from their pre-contracts, notaries believe that prices started to fall at the very end of the year. They forecast a decline of 1.7% over the first three months of 2021.

“In the shops, we are facing a real upheaval.” According to Magali Marton, director of the studies department at Cushman & Wakefield France, the disappearance of tourists, the closure of restaurants and bars, the curfew have done a lot of harm. Especially since “The situation was already complicated before the pandemic, with the ‘yellow vests’, strikes and e-commerce”

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