the small form of the real estate market in Haute-Vienne

the small form of the real estate market in Haute-Vienne
the small form of the real estate market in Haute-Vienne

The Real Estate Observatory’s observation affects both the commercial sector and that of sales to individuals: the market is not really looking good in the Haute-Vienne department.

In the city center of Limoges, a building does not go unnoticed. Head to the ninth floor, the view is breathtaking with an apartment that has just been sold. Béatrice Loizeau is sales manager at ORPI 87, she was in charge of the transaction: “It’s a T4 apartment recently sold, in very good condition, in a residence from the 70s.”

The buyer signed for 139,000 euros, Which means 1900 euros per square meter. Well above the median price. A sale which, however, according to this real estate agent, reflects the state of the market… Light years away from post-covid euphoria. “We are lucky in Limoges and Haute-Vienne to have one of the most accessible real estate markets in France. So as long as income is fixed with a permanent contract, we have clients who can buy,” explains the professional.

However, the numbers are there. In Haute-Vienne, the situation is no longer good. Sales of residential premises are down as are new construction.

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Real estate market figures in Haute-Vienne in 2023.

© France Télévisions – France 3 Limousin

As for sales to individuals, the median price for existing properties – for houses and apartments – is at a very reasonable level. Despite everything, transactions are not really taking off. Even if interest rates start to fall. However, Hervé Hindre, Housing Director at Crédit Agricole Centre-Ouest, wants to remain optimistic: “This increase that we were able to see which was multiplied by four, in almost three years, it impacts around 40,000 euros over a period of twenty-five years or it impacts one less coin, so all that fades away and it encourages buyers to make their dream a reality, that is to say, acquire their main residence.”

The good surprise in this uncertain context comes from rentals. The demand is there. And the numerous offer, although not always adapted: “Afterwards, the concern we have is an aging stock, we have housing from the 70s which may not find buyers, but yes, we have enough accommodation in Limoges”, explains Véronique Brunet, deputy director at Foncia 87.

In the rental market, the priority is, in any case, for owners to invest in the DPE, the energy performance diagnosis, an essential marker for the price of rent.

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