The Hauts-de-Seine market in tip-top shape

Despite the turbulence in 2020, France’s Hauts-de-Seine department has lost none of its appeal, in fact quite the opposite! For one simple reason: Parisians want large surface areas and outdoor spaces. Exactly what you’ll find in the Hauts-de-Seine, with its fashionable neighbourhoods and more working-class communities, and its urban/green surroundings complete with woodlands. At average prices of between €8,000 and €12,000 per sq.m, although premium properties can sell for much higher.

It goes without saying that each sector in the department has its specificities: prices in the communities considered a natural extension of Paris (Boulogne-Billancourt, Issy-les-Moulineaux, Neuilly-sur-Seine, Levallois-Perret) are similar to those of the capital itself, while more rural towns like Sceaux, Saint-Cloud and Rueil-Malmaison are seeing demand for houses soar.

Neuilly-sur-Seine: luxury properties more in-demand than ever

Traditionally the dominion of family clients with significant purchasing power due to its greenery, its neighbourhood life and its reputed schools, prices per sq.m steadily rose in Neuilly in 2020 (+4% for apartments, i.e. €12,789/sq.m, and +5% for houses, i.e. €11,265/sq.m). And 2021 is set to reach new records: BARNES Neuilly recorded a 10% increase in turnover and transaction volumes in Q1. A particularity of this exceptional market, the most expensive property segment, above €4-5M, has never been so active. “We have sold 3 houses over €5 million since January 2021, that’s about one per month, says Catherine van Aal, Director of BARNES Neuilly-sur-Seine. Clients looking for these types of properties have the cash flow needed, which means they can decide quickly on an impulse. So there’s no reason for the market to run out of steam, especially when it comes to luxury properties”.

Catherine van Aal also tells us about one of the famous “flash sales” that seem to be becoming increasingly commonplace: “We listed a 140 sq.m apartment for sale for €13,000/sq.m in a superb period building on a coveted avenue. Viewings began at 9am, and we had 14 throughout the day. A potential buyer who had visited at lunchtime came back with her husband in the late afternoon. They immediately made an offer at the agent price and met the owners straight after, who were staying in the building but changing apartment”.

Boulogne-Billancourt: a market on the rebound

The first lockdown caused a sharp slowdown in the market, without bringing it to a halt. But as of mid-May 2020, business picked up with increasing momentum. Which enabled BARNES Boulogne-Billancourt to finish the year at an almost normal pace. Thanks to strong supply and demand, prices are stable in early spring 2021 and even seem to be on an upward trend. Sales are concentrated between €10,000 and €12,000/sq.m, that is to say at slightly higher levels than the south of the 16th arrondissement, a generally comparable sector in terms of supply, demand and clientèle. Serviced by two metro lines (9 and 10), Boulogne-Billancourt is a beacon for Parisians in search of greener pastures, particularly after the arrival of one or several children and faced with the perspective of long-term remote working.

Will there be a pre- and post-2020? “Yes, given that we’ve observed a discernible shift among buyers, who were previously attached to a certain neighbourhood, or even micro-neighbourhood, and who are now ready to put that aside in favour of living space and outdoor spaces, explains Valérie Le Roy-Maguin, Director of BARNES Boulogne-Billancourt. As a result we’re seeing a surge in the new Trapèze neighbourhood, opposite Ile Seguin with its almost new apartment buildings filled with bright apartments offering large terraces”.

Hauts-de-Seine Ouest (*) : communities boosted by their handsome properties

(*) Vanves, Malakoff, Montrouge, Sceaux, Bourg-la-Reine, Saint-Cloud, Marnes-la-Coquette, Meudon, Issy-les-Moulineaux, Rueil-Malmaison

With an average of around one sale per week in 2020, BARNES Hauts-de-Seine Ouest posted a solid year despite the virtual standstill in the market during the first lockdown. Prices for apartments rose sharply in the space of one year (+18%, i.e. €8,393/sq.m on average and +5%, i.e. €7,481/sq.m for houses).

Early 2021 has been marked by a wait-and-see approach on the part of vendors, but prices remain stable given that demand still largely outstrips supply. So what about the rest of the year? “The trend is continuing, and even accelerating, according to Christian Seignouret, Director of BARNES Hauts-de-Seine Ouest. Particularly for the stunning properties around the Parc de Sceaux, popular among families drawn by the tranquillity of the area and the quality of the schools”. The price rise observed since 2018 is set to continue in 2021, although a plateau may be reached in the course of the year as long as prices remain high.

  Hauts-de-Seine Nord (*) : upsizing

(*) Asnières, Courbevoie, Colombes, Bois-Colombes, La-Garenne-Colombes, Puteaux, Suresnes

2020 saw the arrival of young Parisian couples who own 100-120sq.m apartments in the trendy yet dense neighbourhoods of the city’s 9th, 11th and 18th arrondissements. By crossing over to the other side of the ring road and the River Seine, they’ve gained an exterior or an additional room that can be converted into an office. Which has been reflected in a price rise in 2020 of +7%, i.e. €8,330/sq.m for apartments and +8%, i.e. €8,031/sq.m for houses. More and more couples, both vendors and buyers, are finding themselves working from home in the long term, which has disrupted their habits. The result is that the market has already risen by an average of 2% since the start of 2021 for properties with an outdoor space. “Apartments are selling for around €8,500/sq.m without an exterior, compared to €9,500/sq.m with a terrace or large balcony”, says Florence Chauvel, Director of BARNES Hauts-de-Seine Nord.

It would even be reasonable to question whether apartments without an exterior still find buyers. “Yes, because they allow people to upsize, which is something many residents of Paris and its inner suburbs are looking to do”, explains Florence Chauvel.

laurent@sobarnes.com

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BARNES Neuilly : 22, rue de l'Hôtel-de-Ville, 92200 Neuilly-sur-Seine - Tél. : +33 (0)1 55 61 92 90

BARNES Boulogne : 48, avenue Jean-Baptiste-Clément, 92100 Boulogne-Billancourt, Tél. : +33 (0)1 72 31 60 92

BARNES Hauts-de-Seine Ouest : 48, avenue Jean-Baptiste-Clément, 92100 Boulogne-Billancourt, Tél. : +33 (0)1 55 61 40 21

BARNES Hauts-de-Seine Nord : 22, rue de l'Hôtel-de-Ville, 92200 Neuilly-sur-Seine - Tél. : +33 (0)1 55 61 92 89

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