In Clermont-Ferrand, real estate yields still high

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Clermont-Ferrand, in Puy-de-Dôme. JACQUES LoïC / PHOTONONSTOP

In Clermont-Ferrand, yellow cranes now compete with onlookers at Notre-Dame-de-l’Assomption Cathedral. Because, despite the real estate construction crisis, we are still building in the Puy-de-Dôme prefecture. “Today’s work corresponds to projects validated in 2022; during this period, 70% of reservations were made within the framework of the Pinel system [incitation fiscale à l’investissement locatif], and we were building a thousand new homes a year”explains Richard Bazelle, Auvergne regional director of the Clermont-Ferrand agency for Bouygues Immobilier.

“But, with the deterioration of the Pinel tax exemption rates and the crisis which has hit the sector for eighteen months, the share of investors has increased to 56%, and the achievements to just over three hundred”he continues.

Among the many projects in the city, the vast urban redevelopment of the ZAC Saint-Jean is one of the most ambitious projects. By 2025, nearly 1,500 housing units will be delivered on this 14-hectare area, as well as 17,500 square meters of offices, 10,000 square meters of shops and services and a 2.4 hectare park.

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This is what the Arverni metropolis attracts. Since the end of the 1990s, Clermont-Ferrand has reconnected with population growth. From 2014 to 2020, the population increased by 0.7% per year on average in the municipality, according to INSEE.

“The city has been able to recreate employment since 2009. It is very well positioned for its innovation potential, thanks to the historic presence of the Michelin group, but also of Limagrain (…) and to a lesser extent Aubert & Duval [métallurgie] »note the geographers Hélène Mainet and Milhan Chaze, as well as the professor of urban space planning Jean-Charles Edouard in the work Attractiveness of an intermediate metropolis. Clermont issues (Otherwise, 2023).

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Moreover, real estate prices increased significantly during this period. According to MeilleursAgents, the progress recorded is 15.6% over five years (19.6% over ten years) for apartments. However, over the last two years, Clermont-Ferrand has not been spared from the decline (−4.7%), with an average square meter today estimated at 2,138 euros.

Central plateau and hypercenter

In addition, prices vary greatly depending on the location of the goods. In the north of the city, less popular, it is not uncommon to find apartments under 1,000 euros per square meter when, in the city center, a renovated property, with a large terrace, can be negotiated above 3,000 euros. The most sought-after properties are large T3s and medium-sized houses in neighboring towns (Chamalières, Beaumont, Ceyrat, etc.) – A 90 square meters with 400 square meters of garden, typically.

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