Real estate in Ille-et-Vilaine: the list of the most expensive cities. To a lower price?

The real estate market continues to rise year after year, but the trend is reversing. ©Florian Tiercin

Warning: this is the key word in notary regional councilwhich met on Thursday 15 September to take stock of trends in the Breton real estate market.

The last 12 months however have been more or less similar to what has been observed for many years now. Rising prices and fewer goods to sell.

The law of supply and demand, combined with historically low interest rates for 30 years, logically increases the value of the stone.

In Ille-et-Vilaine, House prices, which make up the majority of the market excluding the big cities, have risen everywhere in a year: + 17% in the Emerald Coast, + 10.5% in the Combourg basin, + 16% in Rennes, + 5.6% in Fougères and 8.1% on the side of Vitré. The area of ​​Coglais, recognized as the cheapest in the department, saw its prices increase by 16%.

But if we look at the value of things, it varies from simple to triple: from 117,000 euros in the median price of Coglès to 360,000 euros along the Emerald Coast.

Immovable and ugly
Map of the real estate market in Ille-et-Vilaine. © Breton notary

The Top 20 most expensive municipalities

Here is the list of the most expensive cities in the department (median price of old houses).

Saint-Briac-sur-Mer : 564,100 euros

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Saint-Lunar : €525,000

St. Gregory : €521,000

reindeer : €511,000

Cesson-Sevigne : 480,000 euros

Dinard : 450,000 euros

rapidly : 429,000 euros

San Malo : 420,000 euros

Saint-Jouan des Guerets : €393,600

Le Minihic-sur-Rance : €391,500

The Richardese : 380,000 euros

Montgermont : 360,000 euros

Chantepie : €357,700

Bruz : 355,000 euros

Cancel : 355,000 euros

Saint Coulomb: 350,000 euros

Bethon: €349,600

San-Padre Marc-en-Poulet : 347,500 euros

Thorigne-Fouillard : 342,200 euros.

Acknowledge: €340,000

Young buyers

Note that in the department, almost half of buyers are under 40, and that 80% of them have settled in Ille-et-Vilaine. Residents of Ile-de-France represent only 7% of buyers.

If the price of houses has increased significantly, the same is true for old apartments, (+11.7%)with peaks reached at Dinardwhere the median price is around 5,400 euros/m2 (+15%) and San Malo (4650 euros, + 18%), far ahead reindeer which shows a median price of 3,720 euros/m2 (+9.7%).

The slowdown was felt

If the indicators all seem green, the wisdom of notaries is explained to a trend that is in the process of changing.

Because first-time buyers or families with tighter budgets, who make up the majority of property claimants, have been faced since the beginning of the year with rising inflation and rising interest rates.

“They haven’t woken up for a long time and we don’t know what is the basis of their waking up. This creates anxiety and a wait-and-see attitude,” said the council of notaries. Especially since the number of loans rejected by banks is constantly increasing.

As a result, we have witnessed in the last three months what looks like a change in the market, “which must be carefully monitored to see if the trend is sustainable”, prevent notaries.

Based on the pre-sales contracts signed since June, the median prices have decreased, sometimes up to 8%, while the properties sold are as rare.

The ball is in the buyer’s side

Long on the side of the sellers, so the ball seems to have passed on the side of the buyers. “Owners are starting to come down from their cloud, and there is more negotiation and demand from buyers”. Who are looking closely at their costs, especially in the face of rising energy prices.

There are many signs that encourage notaries to think that the market decline “Should be confirmed at the beginning of next year”. Except for the coasts, where properties are still scarce and buyers who can afford them are less subject to the swings of inflation and bank loans.

Have we entered a spiral of falling prices after years of rising prices? See you in 6 months to see if the trend is confirmed.

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