Posted Sep 29, 2022, 10:57 AMUpdated on Sep 29, 2022 at 12:39 PM
Feverish buyers faced with rising interest rates and more and more eager to sign a compromise for their future property, but no sharp increase in loan refusals; more hesitation in the face of energy sieves and the renovation work incumbent on them in a context of uncertainty about delivery times and soaring raw material costs. Here, in broad outline, is the picture that Alsatian notaries have observed over the past few months in their studies. Not enough to flatten the market for the time being, without being able to assume the future. “When we go through a difficult period like today, real estate remains a safe haven”, observes Claudine Lotz, president of the Chamber of Notaries of Bas-Rhin.
Its chamber and its Haut-Rhin counterpart presented on September 27, 2022 their report on the transactions concluded between the 1er July 2021 and June 30, 2022. While these data do not show the evolution of sales since the last rate hikes, they show an upward trend over the past year. Prices follow the same curve, as on a national scale but unlike the Grand Est which has seen its prices stabilize.
Heterogeneous territories
In detail, the median prices of houses are higher than those of apartments. They are similar for houses in the two Alsatian departments (252,000 euros on the Alsatian scale) but the square meter is higher for apartments in the Bas-Rhin (2,690 euros in median price) than in the Haut-Rhin (1,870 euro).
Changes over one year in median prices in a few figures…
· Old houses in the Bas-Rhin: +8.6%; in the Haut-Rhin: +6.9%
· Square meter of old apartments in Bas-Rhin: +6.5%; in the Haut-Rhin: +2.3%
Median sale price of building plots in Bas-Rhin and Haut-Rhin: -4%
These statistics are of course to be refined by territory, very heterogeneous from the north to the south of Alsace. Strasbourg continues to record all records, with for example a median price per square meter of apartments up 38.7% in ten years. The Saint-Louis area, close to the Swiss city-world of Basel, also recorded very high prices, while the western Haut-Rhin and the northern Bas-Rhin experienced more moderate prices.
As for building plots, their median price is falling. This trend is to be put into perspective by increasingly smaller surfaces sold and further away from major urban centres.
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