The expansion of the metro in Rosny-sous-Bois has taken the real estate market by surprise

In Rosny-sous-Bois (Saint-Saint-Denis), a few kilometers east of Paris, a major change is expected in late 2023 or early 2024. The city should benefit from the extension of the 11th line. Ile-de-France Metro, with no less than three resorts on its territory – La Dhuys, Coteaux-Beauclair and Rosny-Bois-Perrier. From the latter, we can reach the center of the capital Chatelet-le-Halle directly in about 25 minutes.

The impact is already being seen in property prices, which have risen by almost 25% in five years, according to Meilleurs Agents. In addition to the “metro” phenomenon, Rosny benefits from the fact that several cities bordering the department, such as Montreuil, Noisy-les-Sec or Romainville, have lost their appeal for investors since the recent introduction. Rent control system 2021. With an average gross rental yield that remains attractive despite price increases: 5.2% for T2 according to Meilleurs Agents (average rent per square meter for this type of property, €18).

For buyers looking for a place to live, townhouses remain a priority – a rarity on the market. “The residential area located in the center attracts families. An 80 square meter house with a 350 square meter garden is for sale for around 459,000 euros”Christophe Ribeiro, director of the ERA agency in the city, notes.

According to Meilleurs Agents, on average, a square meter in an apartment sells for 4,133 euros, and a house for 4,377 euros. But prices vary greatly by region. Boissière and Bois-Perrier, where the metro will arrive, are below average (3,842 euros and 3,496 euros respectively, all goods together), while in the center you can reach 4,563 euros.

Green building

“However, prices are rising rapidly in upcoming metro areas”, observes Franck Bozon of the Laforêt agency in Aulnay-sous-Bois. “In Boissières, a mixed area with lots of social housing, a T3 six years ago wouldn’t sell for more than €160,000. Today you have to pay 200,000 euros, in June 2021 we even reached 230,000 euros.

However, price growth for older real estate has slowed over the past year (+1% for one year). In recent months, even a slight decrease has been observed. “The sale of energy extractors penalizes the market. If a house is rated F or G, investors no longer want it, even at a discount.Mr. Ribeiro testifies.

He gives an example: “I have for sale for three months a T3 with 55 square meters in a building classified F, originally offered for 229,000 euros, reduced by 20,000 euros. A year ago it would have sold out in a month. It is still on the market. » The decline in prices that he observes, in his opinion, is also explained by difficulties in accessing credit, which is caused by wear, that is, the cap on loan rates.