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While the period of the pandemic might have led us to believe that the property market in Lyon would erode, Barnes proves that the opposite effect has finally occurred.
Predictions at the beginning of the pandemic period saw Lyon experiencing a 10% drop in property prices, whereas the market finally managed to maintain its momentum and reach new heights. “In Lyon, as soon as the first containment period ended, the French wanted to “live better”, to better adapt their homes to their lifestyle. This has meant buying bigger, with a room dedicated to teleworking for city dwellers or the desire to have an exterior” comments Gérald Châtel, Associate Director of Barnes Lyon.
In 5 years, the volume of property sales has increased by 39%, “a sign of the dynamism of the property market in the capital of Gaul from 2020 to 2021, Barnes Lyon has seen its number of flats sold increase by 13.4% and that of houses by 23.91%” he continues. As a reminder, on a national level, the number of transactions carried out has increased by 15.5%, from 1,020,000 in 2020 to 1,178,000 in 2021. In the Lyon property market as a whole, prices have been rising annually between 8 and 11% since 2016.
“In the high-end property sector, the price increase has reached 44% over the last 5 years. On the other hand, we observe a stabilisation of prices between 2020 and 2021, with only + 0.88% on the price per m2 for flats in Lyon, with a median at €6,966/m2 and an increase of 1.91% in the median price of a house in Lyon or its suburbs, which reaches €1,120,000” explains Gérald Châtel. To get an idea of the price of prestige property, you need to add an average of 30% to the average range for the top end of the market, i.e. around €9,000/m2 in Lyon.
Taking all properties together, the average rent in Lyon in 2021 was between €16 and €19/m2, depending on the arrondissement, with the most expensive being the 1st, 2nd and 6th arrondissements. Since 1 January 2022, the High Council for Financial Stability (HCSF) has required that the effort rate be limited to 35% (including insurance), while the remaining living expenses are no longer taken into account; some investors will have to postpone their projects because they do not have the necessary contribution.
Read also > MIAMI AT THE TOP OF LUXURY REAL ESTATE ACCORDING TO BARNES
Featured photo : © Barnes Lyon[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
While the period of the pandemic might have led us to believe that the property market in Lyon would erode, Barnes proves that the opposite effect has finally occurred.
Predictions at the beginning of the pandemic period saw Lyon experiencing a 10% drop in property prices, whereas the market finally managed to maintain its momentum and reach new heights. “In Lyon, as soon as the first containment period ended, the French wanted to “live better”, to better adapt their homes to their lifestyle. This has meant buying bigger, with a room dedicated to teleworking for city dwellers or the desire to have an exterior” comments Gérald Châtel, Associate Director of Barnes Lyon.
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While the period of the pandemic might have led us to believe that the property market in Lyon would erode, Barnes proves that the opposite effect has finally occurred.
Predictions at the beginning of the pandemic period saw Lyon experiencing a 10% drop in property prices, whereas the market finally managed to maintain its momentum and reach new heights. “In Lyon, as soon as the first containment period ended, the French wanted to “live better”, to better adapt their homes to their lifestyle. This has meant buying bigger, with a room dedicated to teleworking for city dwellers or the desire to have an exterior” comments Gérald Châtel, Associate Director of Barnes Lyon.
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